|
||
| |||||||
Oxford, UK, 26 August 2005 The Board of Physiomics plc (AIM:PYC), a European systems biology simulation company, today announces the immediate appointment of Mr David Evans as Non-Executive Chairman. He succeeds Dr Stephen Parker who leaves the board to pursue other opportunities. David Evans MBA has extensive small company experience particularly in the life sciences sector. Mr Evans became Managing Director of Shield Diagnostics in 1997, having previously been Finance Director. As Managing Director, he led the merger with Axis to form Axis-Shield in 1999. He was deputy managing director of the merged company until 2000. Since then, Mr Evans has held a number of non-executive directorships in several quoted and unquoted companies. Mr Evans is, or has been, a director of the following companies in the previous five years:
David Evans was a director of CY Realisations Limited (previously Cytocell Limited) that was placed into creditors voluntary liquidation in April 2003, and a director of Lineplan Limited that was placed into creditors voluntary liquidation in May 2000 with a deficit to creditors of £30,582. There is no other information that is required to be disclosed pursuant to Schedule 2 paragraph (g) of the AIM Rules. Stephen Parker joined Physiomics in March 2004 as Chairman and successfully steered the business through its initial public offering at the end of 2004. Dr Parker has recently become a Partner of Celtic Pharma Management LP, a new private equity fund specialising in late stage pharmaceutical projects. Celtic recently announced the acquisition of Xenova Group plc, its first major investment. Dr Stephen Parker commented “The progress of the Company since March 2004 has been substantial and this is an exciting period of development for Physiomics. I regret that my commitments with Celtic Pharma have required me to step down, but have every confidence that the business will to continue to grow successfully under the leadership of David Evans and John Savin.” Dr John Savin, CEO of Physiomics, commented “The Board wishes to express its thanks to Stephen Parker for his major contribution over a period of profound change for the Company. On behalf of the Board I wish him every success in his new role.” Mr David Evans commented “I am delighted to be joining Physiomics at this exciting stage in its development. The company has a unique offering in applying systems biology to the drug development process and I look forward to working with the Physiomics team to maximise this potential.”
--ENDS— For further information please contact: Physiomics plc Mr David Evans (Chairman) Tel: 07740 084452 Dr John Savin (CEO) Tel: 01865 784980 Northbank Communications Tel: 020 7886 8150 Emma Palmer (financial enquiries) Fiona Brown/Rowan Minnion (media enquiries)
Notes to Editors Physiomics plc Physiomics plc (AIM:PYC) is a systems biology company applying computer-based simulations of cell behaviour in drug development, aimed at reducing the high cost and attrition rates of clinical trials. As 80-90 per cent of all clinical drug candidates fail to reach the market, estimates show even a ten per cent. overall improvement in success rates could reduce the cost of one drug’s development by up to $242 million, from the current estimate of around $800 million. Physiomics is currently focused on optimising the design of cancer clinical trials as a service to major pharmaceutical companies. In addition, it has secured an option to in-license two innovative molecules in the cancer area from Cronos therapeutics. Physiomics has a major collaboration with Bayer Technology Services GmbH to develop globally clinical response prediction services using both companies’ proprietary technologies and mathematical cell models, including the SystemCell® technology developed by Physiomics. In June 2005, Physiomics became is a distributor of Bayer’s PK-Sim® product for understanding the way pharmaceuticals are distributed round the body. Physiomics, based in Oxford, UK, was founded in 2001, and floated on AIM in 2004. For further information, please visit www.physiomics-plc.com |
|
| ||||||||
