The board of Cyprotex plc ("Cyprotex" or "the Company") are pleased to announce the appointment of Dr. Mark Egerton as Chief Executive Officer of the Company with immediate effect.
Mark's career to date has spanned 12 years in the pharmaceutical and biotechnology industries, during which time he has gained a great depth of knowledge of the drug discovery process and the pharmaceutical industry. Mark joins Cyprotex from Cambridge-based Incyte Genomics Limited where he was vice-president of European business operations and prior to that was vice-president of research and development for pharmacogenomics with Incyte Genomics Inc. (based in Palo Alto, California). Incyte provides genomics technologies and products to biotechnology and pharmaceutical companies.
Commenting on the appointment, Jeremy Scudamore, Non-Executive Chairman of Cyprotex plc, said: "The Board is delighted to welcome Mark to the Company, he brings a wealth of sector knowledge and commercial expertise with him and joins the Company at an exciting stage in its development. We look forward to utilizing Mark's skills to further enhance our already active programme of negotiating and concluding commercial contracts."
Matters for disclosure under paragraph 15 of the AIM Rules with respect to the appointment of Dr. Mark Egerton as Chief Executive Officer and Director of Cyprotex plc:
Dr. Mark Egerton
Directorships held within the last 5 years:
There are no further disclosures required to be made pursuant to paragraph 15 of the AIM Rules for companies.
In addition, the board of Cyprotex announce that the Company's accounting reference date has been changed to the 31st December.
- Ends -
Jeremy Scudamore, Non-Executive Chairman
Tel: +44 (0) 1625 505 100
Henry Harrison-Topham/ Heather Salmond
Tel: +44 (0) 20 7444 4141
Bankside Consultants Limited
Notes to editors:
Cyprotex PLC - www.cyprotex.com
Cyprotex plc joined the Alternative Investment Market on Friday 15 February 2002.
The Group's predictive software simulates the distribution of a drug to the organs of the body using estimates of the ADME properties of the drug generated by the screening systems. Using detailed mathematical models of human physiology and knowledge management processes, the software is also capable of estimating the ADME properties given only the chemical structure of the candidate drug. These estimates are derived using models generated and continuously refined from the testing database.
From Q2 Cyprotex will be able to screen many thousands of compounds per annum by high-throughput screening (HTS) at an advantageous cost than the internal screening of major pharmaceutical companies. Further predictive software integration work is underway to make Cyprotex software applications available directly to its customers online.
The combination of the ADMET and DDI software packages on a single fully-integrated platform will enable Cyprotex to provide a comprehensive predictive screening service to its clients. The predictive confidence level of the software will continually improve through the feedback loop of the database and software and eventually reduce the need for physical screening.