TIDMINS
RNS Number : 0106M
Instem plc
09 January 2023
Instem plc
("Instem", the "Group" or the "Company")
Appointment of Independent Non-Executive Director
Instem plc (AIM: INS), a leading p rovider of IT solutions to
the global life sciences market, announces that it has appointed
Mary Dolson as an Independent Non-Executive Director to the Board
and Chair of the Audit Committee, effective 9 January 2023. Mary
will also join the Remuneration and Nomination Committees
immediately upon appointment.
Mary is an expert advisor on regulatory, financial and
accounting compliance issues, with extensive experience advising
businesses in the pharmaceutical, biotech and life science sectors.
She is a specialist and experienced advisor in taking companies
through periods of change, from start-up to venture capital
investments to public offerings.
Most recently, Mary was a Non-Executive Director at Nuvelution
Pharma Inc (Boston, USA) between 2019 and 2021, where she consulted
as an expert in finance, modelling, and risk across all phases of
the pharmaceutical and biotech industry.
Mary has spent most of her career in audit and served as a PwC
partner in London for over 20 years, where she became the Global
Lead on pharmaceutical industry accounting and reporting before
retiring in 2018. Mary was a founding member of the 'Pharma Forum',
an industry based International Financial Reporting Standards
working group.
Mary served as a Non-Executive Committee Member for the
Financial Reporting Review Panel (UK), a position she held from
2011 until 31 December 2020 (when it was dissolved). In this role,
Mary helped to guide the implementation of accounting standards,
corporate governance, and other reporting codes.
Mary is a Bachelor of Business Accounting graduate of Pace
University, Lubin School of Business, New York, and a Certified
Public Accountant (CPA) in the State of New York.
Revised Board and Committee Membership
Effective with Mary's appointment, Board committee membership
has been revised as follows:
Audit Committee Remuneration Committee Nomination Committee
* Mary Dolson - Chair * Riaz Bandali - Chair * David Gare - Chair
* Riaz Bandali * Mary Dolson * Mary Dolson
* Mike McGoun * Mike McGoun * Riaz Bandali
* Mike McGoun
Committee membership will be reviewed periodically in line with
good governance practice.
Following completion of Mary's initial on-boarding process,
David Sherwin (Non-executive Director) has indicated that he
intends to retire from the Board, with a confirmatory announcement
to be made at that time.
Strengthened Team
The Company is also pleased to announce that John Alarcon has
been appointed into a full-time employee position as Vice President
of Strategic Partnerships and Vice President of US Finance. John
joined Instem on a contract basis in 2019 and led the buy-side due
diligence, modelling, and integration efforts on the d-Wise
acquisition, and supported on those of The Edge and PDS Life
Sciences. More recently he took responsibility as Interim
Controller for Instem's Clinical Trial Acceleration business unit.
John draws on over a decade's finance experience with VC backed
technology companies and prior to joining Instem was running his
own consulting practice.
In his new role based in the US, John will head Instem's US
Finance team and will report to Chief Financial Officer, Nigel
Goldsmith.
Commenting on the appointments, Phil Reason, CEO of Instem,
said: "We are delighted to welcome Mary to the Board of Instem as
an Independent Non-Executive Director. To have the support of
someone with such unequivocal financial and industry expertise will
be invaluable in helping the Company and Board realise its
aspirations, and her joining the Board is undoubtedly a testament
to where Instem has progressed to today. Mary's experience is
comprehensive, and she is perfectly suited, having worked
extensively in the UK and US, to advise on the challenges and
opportunities that we encounter.
"Equally, we are very happy to have John move into his new role.
John's support was central to the acquisition of d-Wise and his
appointment highlights the Company's capability to successfully
integrate new businesses."
Further disclosures pursuant to Schedule Two, paragraph (g) of
the AIM Rules for Companies:
Mary Ruth Dolson (formerly known as Hines), aged 63, has no
current directorships and has previously been a director of the
following companies within the past five years:
-- Nuvelution Pharma, Inc
-- Tuckerbox Consultants Limited
Mary has no beneficial interest in the shares of the
Company.
There is no other information required to be disclosed pursuant
to Schedule Two, paragraph (g) of the AIM Rules for Companies.
For further information, please contact:
Instem plc Via Walbrook
Phil Reason, CEO
Nigel Goldsmith, CFO
Singer Capital Markets (Nominated
Adviser & Broker) +44 (0) 20 7496 3000
Peter Steel
Alex Bond
Stifel Nicolaus Europe Limited (Joint
Broker) +44 (0) 20 7710 7600
Ben Maddison
Alex Price
Richard Short
Walbrook Financial PR +44 (0) 20 7933 8780
Tom Cooper instem@walbrookpr.com
Nick Rome
Joe Walker
About Instem
Instem is a leading provider of IT solutions & services to
the life sciences market delivering compelling solutions for Study
Management, Regulatory Submissions, Clinical Trial Acceleration,
and Informatics-based Insight Generation.
Instem solutions are in use by over 700 customers worldwide,
including all of the largest 25 pharmaceutical companies, enabling
clients to bring life enhancing products to market faster. Instem's
portfolio of software solutions increases client productivity by
automating study-related processes while offering the unique
ability to generate new knowledge through the extraction and
harmonisation of actionable scientific information.
Instem products and services address aspects of the entire drug
development value chain, from discovery through to market launch.
Management estimate that over 50% of all drugs on the market have
been through some part of Instem's platform during their
development.
To learn more about Instem solutions and its mission, please visit www.instem.com
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END
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