Cyprotex PLC (LSE:CRX), the drug discovery services and information group, announces its Non-Executive Chairman, Mr Nikolas Sofronis, plans to step down to become a Non-Executive Director of the Group, effective 1 September 2008. The role of Non-Executive Chairman will be assumed by Mr Steve Harris, also effective 1 September 2008.
Commenting on Mr Sofronis's move, Dr Anthony Baxter, Chief Executive Officer of Cyprotex said:
"Since assuming the role of Non-Executive Chairman in February of this year, Cyprotex has gone through a period of great activity. Throughout this time, Nikolas carefully steered the Group overseeing management change, the bolstering of its capital base and the first genuine financial rewards following several years of strategic investment. Nikolas leaves Cyprotex well positioned to build on its strengths and we look forward to receiving his continued contribution from the Non-Executive Board."
Commenting on Steve Harris's appointment, Dr Anthony Baxter, Chief Executive Officer of Cyprotex said:
"The Company is delighted to appoint a new Chairman with such extensive life-science experience gleaned from a number of non-executive roles across both private and public companies. Steve will bring valued expertise, ranging through business development, licensing and fundraising in the international sector, to the Board. Steve will also play a key role in helping Cyprotex recognise the value of its technologies and market position, while helping to shape its evolution in the world of drug discovery and development services. We look forward to him assisting the Management Team in guiding the business through its next phase of growth."
Notes for Editors:
Steve Harris B.Pharm., F.R.Pharm.S.
Mr Harris (age 66 years) is an experienced Non-Executive Director with a range of private and public companies in the life sciences sector. He has a wide experience in fundraising and IPOs and an extensive international pharmaceutical and biotech experience with particular focus on business development and licensing.
His present roles include:
Non-Executive Chairman of Proteome Sciences PLC, a proteomics company listed on AIM.
Non-Executive Chairman of Sinclair Pharma PLC, a speciality pharmaceutical company focussed in the areas of cancer support therapy, oral health and dermatology listed on LSE.
Non-Executive Director of Advanced Medical Solutions PLC, a wound healing company listed on AIM.
Past non-executive director appointments in the five years preceding his appointment at Cyprotex:
SkyePharma PLC Drug delivery company listed on the LSE.
Premier Research PLC International contract clinical research organisation listed on AIM.
Northwest Biotherapeutics Inc Cancer vaccine company listed on AIM.
GeneMedix PLC Formerly LSE listed developer and manufacturer of biosimilar products.
Microscience Limited VC financed vaccine research and development company.
Gensia Limited U.K. subsidiary of Gensia Inc., formerly a NASDAQ listed biopharmaceutical company.
PolyMASC PLC Formerly AIM listed company pegylating proteins, liposomes and viruses.
Ultrasis PLC AIM listed interactive healthcare (software) company.
Trigen Limited A VC backed cardiovascular R & D company.
Prophilian PLC A privately financed specialist phase I clinical research company.
Conve PLC A privately held company developing topical products for treating fungal and bacterial infections.
His skills, executive experiences, education and memberships include:
Consults in business development and licensing for pharmaceutical, biotech and drug delivery companies.
Between 1990 -1995 he was a Board Director of Medeva PLC where he had responsibility for Business Development, Licensing and Product Development. During this time numerous licensing and acquisition deals were concluded at Medeva.
Earlier in his career he held a variety of sales, marketing and general management positions in multinational companies - ICI (now AstraZeneca), Merck Sharpe & Dohme, Eli Lilly, Boots, and Reckitt & Colman. He was also European Managing Director for the biopharmaceutical company, Gensia.
He has a Bachelors degree in Pharmacy and was elected a Fellow of the Royal Pharmaceutical Society in 2001.
President of the Proprietary Association of Australia for 3 years. Chairman of National Council of Chemicals & Pharmaceutical Industries of Australia.
Member of the Board of the World Federation of Proprietary Medicine Manufacturers (now WSMI) for 2 years.
There are no further disclosures to be made in relation to Mr Harris under Schedule 2 (g) and (i) of the AIM rules
For further information:
Dr Anthony Baxter, CEO
Tel: +44 (0)1625 505 100
Russell Gibbs, CFO
Tel: +44 (0)1625 505 100
Nomura Code Securities Limited:
Charles Walker, Corporate Finance
Tel: +44 (0)20 7776 1200
Tel: +44 (0)20 7930 9030