March 3, 2003 - Board restructuring
Cyprotex plc announced on 17th February 2003 that Dr Mark Egerton, Chief Executive Officer, had declared his intention to step down as CEO in order to pursue other business interests. At the time it was stated that Dr Egerton would continue to fulfil his executive responsibilities while the Board actively searches for a replacement.
The Board now believes that the interests of both Dr Egerton and the Company will be best served by Dr Egerton taking paid leave of absence with immediate effect, until the notice period of his contract expires.
The role of CEO will be jointly managed until further notice by John Nicholson (Chief Operating Officer) and Dr David Leahy (Chief Scientific Officer).
- Ends -
For further information:
John Nicholson, Chief Operating Officer
Tel: +44 (0) 1625 505 100
Henry Harrison-Topham/ Heather Salmond
Bankside Consultants Limited
Tel: +44 (0) 20 7444 4140
Notes to editors:
Cyprotex is a specialist provider of technology and information to evaluate and optimise key properties of potential drugs that determine how well they will be absorbed, distributed, metabolised and excreted by the body. This provides pharmaceutical partners with a sound basis for decision-making regarding compound selection and design that takes into account how the compound will behave in the body. Cyprotex predicts the likely outcome of administering either orally and intravenously administered compounds, by modelling human and rat physiology.
Predictions require basic compound information that can be derived in the laboratory using established methods, all of which are routinely performed by Cyprotex's experimental capability. This unique combination of technologies is aimed at improving pharmaceutical productivity by enhancing the quality of compound libraries and drug candidates progressing through the drug pipeline. Cyprotex is UK-based and listed on the London Stock Exchange (CRX).