Pharmaxis Ltd. announced the Board has appointed Mr. Gary Phillips to the position of Chief Executive Officer with immediate effect. Mr. Phillips has served as the company's Chief Operating Officer for 5 years. Dr. Alan Robertson steps down and will leave the company after 13 years of service as the founding Chief Executive Officer.

He has agreed to assist company in a consulting capacity to help the company generate value from its pipeline of early stage assets. Mr. Philips has been appointed to the company's Board of Directors effective March 12, 2013.