15 March 2018Midatech Pharma PLC("Midatech" or the
"Company")
Midatech announces changes in Senior
Management Team
Midatech (AIM: MTPH, Nasdaq: MTP), the
international specialty pharmaceutical company focused on
developing and commercialising products in oncology and
immunotherapy, today announces that Dr Jim Phillips, CEO, will step
down at the end of May 2018 after having served the Company for
five years. The Board has appointed Dr Craig Cook MD, MBA
(currently Chief Operating Officer and Head of Research &
Development) to succeed Dr Phillips as CEO and proposed Board
member from 1 June 2018, following a transition period of
approximately three months in order to ensure a smooth
handover.
The Board of Directors is also pleased to
announce the promotion of Dr Steve Damment, currently Senior Vice
President of Translational Medicine, to the role of Head of
Research & Development previously held by Dr Cook.
Dr Cook, who joined Midatech in April 2014, has
more than 20 years of international experience in the
pharmaceutical, biomedical and high technology sectors including
roles across a range of therapeutic areas covering both drug
development and medical affairs. He has established and
successfully led several healthcare initiatives, and held
increasingly senior appointments at Johnson & Johnson, Eli
Lilly, Novartis Pharma, and Serono Biotech. He is a qualified
physician with a BSc in Pharmacology, a Diploma in Anaesthesiology,
and an MBA from London Business School.
Dr Steve Damment is an experienced leader in
drug development with a long record of advancing drug candidates
through key development milestones to successful product
registration, initially at Glaxo-Wellcome and then at Shire as Head
of Biosciences. Since joining Midatech in 2015, Steve has been
deeply involved in its key development programmes.
Rolf Stahel, Non-Executive Chairman of the
Board, said: "I would like to thank Jim for his contribution
over the last five years and wish him every success in his future
endeavours. Under his dedicated leadership the Company has
transformed since 2013 from an academic entity to a
publicly-funded, commercially-focused biotech company with strong
prospects. We are also fortunate that in Dr Cook we have an
internal candidate who can take over responsibility as CEO,
ensuring continuity and a controlled handover. Craig will provide
strong leadership, demonstrated expertise, a deep understanding of
the business, and a relentless focus on delivery of key
value-driving programs to take Midatech into its next phase of
growth. We have every confidence that Craig, together with his
senior management team, will drive Midatech to a successful
future."
Dr Jim Phillips, Chief Executive Officer of
Midatech Pharma, said: "After five years building Midatech into
a fast-growth, high potential specialty pharmaceutical company, I
am delighted that Craig will take over the reins as the Company
completes its key clinical programmes and moves to file product
registrations over the coming years. I leave the business with a
very capable and strong leader with an excellent team to support
him."
Dr Craig Cook, Chief Executive
Officer-designate, said: "I am excited to build on the very
strong foundation and ambitious momentum established by Jim, and to
lead Midatech at this crucial time as we take our key research
programs into clinical development. The fundamentals of Midatech
are strong, with our promising technologies underpinning a
compelling pipeline of oncology and immunotherapy assets. We are
well positioned and have a clear strategy to deliver transformative
therapies for patients with devastating rare oncology
diseases."
This announcement contains inside information
for the purposes of Article 7 of Regulation (EU) 596/2014
(MAR).
- Ends -
For more information, please contact:
Midatech Pharma PLCRolf Stahel,
Non-Executive ChairmanJim Phillips, CEONick Robbins-Cherry, CFOTel:
+44 (0)1235 841575www.midatechpharma.com
Panmure Gordon (UK) Limited (Nominated
Adviser and Broker)Corporate FinanceFreddy Crossley /
Ryan McCarthyBrokingTom SalvesenTel: +44 (0)20 7886 2500
Consilium Strategic Communications (Financial
PR)Mary Jane Elliott / Ivar Milligan / Nick BrownTel: +44 (0)20
3709 5700Email: midatech@consilium-comms.com
Westwicke Partners (US Investor
Relations)Chris BrinzeyTel: +1 339 970 2843Email:
chris.brinzey@westwicke.com
Notes for Editors
About Midatech Pharma PLC Midatech is an international
specialty pharmaceutical company focused on the research and
development of a pipeline of medicines for oncology and
immunotherapy, and marketing these through its established US
commercial operation which includes four cancer care supportive
products and two further co-promoted products. Midatech's strategy
is to internally develop oncology products, and to drive growth
both organically and through strategic acquisitions. The Company's
R&D activities are focused on three innovative platform
technologies to deliver drugs at the "right time, right place":
gold nanoparticles ("GNPs") to enable targeted delivery; Q-Sphera
polymer microspheres to enable sustained release ("SR") delivery;
and Nano Inclusion ("NI") to provide local delivery of
therapeutics, initially to the brain. The Group, listed on AIM:
MTPH and Nasdaq: MTP, employs c.100 staff in four countries. For
further company information see: www.midatechpharma.com
Forward-Looking StatementsCertain
statements in this press release may constitute "forward-looking
statements" within the meaning of legislation in the United Kingdom
and/or United States. Such forward-looking statements include, but
are not limited to, statements regarding the ability of Midatech to
successfully test, manufacture, produce or commercialize products
for conditions using the nanoparticle and sustained release drug
delivery platforms, and the ability for products in development to
achieve positive clinical results, and the ability to meet or
achieve timelines associated with pre-clinical studies, clinical
trials or regulatory submissions. Any forward-looking statements
are based on currently available competitive, financial and
economic data together with management's views and assumptions
regarding future events and business performance as of the time the
statements are made and are subject to risks and uncertainties. We
wish to caution you that there are some known and unknown factors
that could cause actual results to differ materially from any
future results, performance or achievements expressed or implied by
such forward-looking statements.
Reference should be made to those documents that
Midatech shall file from time to time or announcements that may be
made by Midatech in accordance with the London Stock Exchange AIM
Rules for Companies ("AIM Rules"), the Disclosure and Transparency
Rules ("DTRs") and the rules and regulations promulgated by the US
Securities and Exchange Commission, which contains and identifies
other important factors that could cause actual results to differ
materially from those contained in any projections or
forward-looking statements. These forward-looking statements speak
only as of the date of this announcement. All subsequent written
and oral forward-looking statements by or concerning Midatech are
expressly qualified in their entirety by the cautionary statements
above. Except as may be required under the AIM Rules or the DTRs or
by relevant law in the United Kingdom or the United States,
Midatech does not undertake any obligation to publicly update or
revise any forward-looking statements because of new information,
future events or otherwise arising.
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