Cyprotex PLC (LSE:CRX), the drug discovery services and information group, announces the resignation of its Chief Executive Officer, Mr Robert Morrisson Atwater, effective 3 June 2008. The role of Chief Executive Officer will be assumed by Dr Anthony Baxter, effective from 3 June 2008.
Commenting on Mr Morrisson Atwater's resignation, Nikolas Sofronis, Chairman of Cyprotex said:
"As Chairman and CEO Robert has made a significant contribution to the Company and has turned the Company around since his appointment in 2003. He saw the Company through challenging times driving revenues from �650k to �3.6 million. During Robert's leadership, I believe Cyprotex has become now both a scientific and commercial reality, a recognised world leader in Pharmacology drug testing, and is respected by the pharmaceutical and biotech communities. The Board would like to thank him for his contribution and leadership and the Company wishes him well with his next venture."
Commenting on Dr Anthony Baxter's appointment, Nikolas Sofronis, Chairman of Cyprotex said:
"The Company is very pleased to appoint a Chief Executive with a considerable and successful track record and wealth of experience in Cyprotex's core competence area of services for pre-clinical drug discovery. We are especially enthused by Anthony's experience in developing partnerships with major European pharmaceutical companies and look forward to him leading the business during its next phase of growth."
Notes for Editors:
Dr Baxter, aged 48, was formerly the founding CEO of Argenta Discovery Limited, a leading drug discovery services and proprietary therapeutics company backed by substantial venture capital investment. In less than four years from the company's start-up in 1999, he grew services revenue to over �9 million which included building a pipeline of novel therapeutic programmes. He then led the successful merger of the business with biotech company, Etiologics Limited. Prior to this, Dr Baxter was Chief Scientific Officer of Oxford Asymmetry International plc and helped build the business from an early stage company to its flotation on the LSE and then to its eventual merger with Evotec in 2000 at a valuation of �316 million. Most recently, Dr Baxter lead the turnaround of deltaDOT Limited, a proteomics / genomics platform technology company, which involved fundraising of �8.3 million. He is currently Non-Executive Chairman of Equinox Pharma Ltd., an Imperial College spin out company focussing on development of 'machine learning' for iterative and multi-parametric drug discovery projects.
The following information relating to Dr Baxter is provided in compliance with the provisions of Rule 17 of the AIM Rules and Schedule II (g):
Full name and age: Anthony David Baxter, age 48.
Present directorships: Equinox Pharma Ltd.
Directorships during the past five years: Argenta Discovery Ltd; deltaDOT Ltd.
Dr Baxter has not been a director of any company which has been wound up or placed in administration or receivership.
Dr Baxter holds no shares in the Company.
There are no further disclosures to be made in respect of Dr Baxter under the provisions of paragraph g of Schedule Two of the AIM Rules for Companies.
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