Phosphagenics Limited reported that Dr. Greg Collier will succeed Mr. Peter Lankau as Chairman of its Board of Directors. The Board of Directors elected Dr. Greg Collier to succeed Mr. Peter Lankau as Chairman of the Board after Mr. Lankau informed the Board of Directors of his decision to step down as Chairman. Mr. Lankau, who will remain on the Board as an independent Director, indicated that the time is right for such a move and that Phosphagenics would now benefit from having a local Australian Chairman.