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Q Chip Appoint Biotech Pioneer Ken Powell as New Executive Chairman
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Cardiff, UK, 31 January 2008 – Q Chip Ltd, a leading developer of
microencapsulation solutions, today announced the appointment of Ken Powell as
Executive Chairman.
With a career spanning more than three decades as a senior researcher and
manager in the pharmaceutical sector Ken Powell is widely acknowledged by the
industry as one of its pioneers. His previous positions include CEO of Arrow
Therapeutics, Head of Antiviral Research and Head of Biology at the Wellcome
Foundation and Professor of Virology and Cell Biology at the Wolfson Institute
for Biomedical Research at University College, London.
Ken Powell has an enviable record in founding and building life science
start-ups. During his period of employment with the Wolfson Institute he
helped establish Inpharmatica, now part of Galapagos NV and Ark Therapeutics
which listed on the London Stock Exchange’s main market in March 2004. Ken
currently serves as the Head of Arrow Therapeutics, which he founded in 1998
and was acquired by Astra-Zeneca PLC for $150 million in February 2007.
Commenting on his appointment Ken Powell said “I have accepted the role of
Executive Chairman of Q Chip for the simple reason I am excited by its
prospects. It has undertaken some very exciting research, which provides the
foundations for a strong pipeline of applications and products. The product
opportunities presented by Q Chip’s technology will offer cost effective
solutions to some of the most pressing issues in the biotech industry. I am
particularly delighted to have the opportunity to assist Q Chip in the
development of its MicroPlantTM drug delivery technology and expanding the
commercial reach of its unique ReaX™ range of easy to use, beaded molecular
reagents.”
“Ken Powell is associated with some of the United Kingdom’s most dynamic
Biotech companies. The fact he has chosen to take on an Executive Chairmanship
role and his ability to attract investment for a series of commercially
successful pharmaceutical research based entities provides an enormous
endorsement of the strategy Q Chip has been pursuing,” said Mark Barry, the
Chief Executive Officer of Q Chip. Continuing he added “This key appointment
maintains the momentum that has built up over the last three years.”
In summer 2007 Q Chip successfully completed a funding round, which saw it
raise in excess of £2 million from existing and new shareholders. This
investment is being used to accelerate ReaXTM and MicroPlantTM product
development and commercialisation.
www.q-chip.com
NOTES TO EDITORS.
Q Chip Ltd, a Life Science Company headquartered in Cardiff, develops
precision microsphere based packaging products for the pharmaceutical, medical
device and diagnostic markets. Q Chip’s primary investors are The Sustainable
Technology Partnership, E-Synergy’s Early Growth Fund, The Forum of The
Future, Fusion Cardiff Limited, Finance Wales and Jon Moulton.
Product enquiries
Q Chip Limited
Mark Barry, Chief Executive Officer +44 (0)29 2068 2092
Email: mark.barry@q-chip.com
Media enquiries
Alto Marketing Limited
Nicki Muir, PR Executive +44 (0)1489 557672
Email: nickim@alto-marketing.com
