OMH Osmetech

    RNS Number : 9214K
  Osmetech PLC
  31 December 2008
   

    31 December 2008
    
Osmetech plc
    ('Osmetech' or the 'Company')

    Changes in Board
    
Osmetech plc (AIM: OMH), the international molecular diagnostics company, is pleased to announce that Dr Jon Faiz Kayyem and Mr Mark Paul
Lappe will be appointed to the Board with effect from 1st January 2009 as Non-executive Chairman and Non-executive Director respectively.
The Board also announces that Gordon Hall and Gordon Kuenster will leave the Board with effect from today and that Daryl Faulkner will step
down as Chairman but will remain as a Non-executive Director.

    Dr Kayyem, aged 44, attended Yale University and received his combined Master and Bachelor of Sciences in Molecular Biophysics and
Biochemistry in 1985. He went on to graduate school at The California Institute of Technology ("Caltech") and received his Ph.D. in
Molecular Biology in 1991. Dr. Kayyem remained at Caltech as a Senior Research Fellow for several years until  1995, when he founded
Clinical Micro Sensors ("Clinco") to commercialize technical innovations he developed while at Caltech. Clinco uses advanced electronics and
biochemistry to create electronic detectors of specific DNA sequences. In 2000, Clinco was sold to Motorola Inc for US$280 million, and
subsequently bought from Motorola Inc in 2004 by Osmetech.  In 2004, Dr. Kayyem left Clinco and with Mr Lappe co-founded Efficacy Capital
Limited, which runs a family of biotechnology funds.

    Mr Lappe, aged 42, co-founded Efficacy Capital Limited, along with Dr Kayyem,  in 2004. Prior to his involvement with Efficacy Capital
Limited, Mr Lappe, founded Lappe & Associates, Inc. a leading executive search firm servicing start-up and early stage life science based
companies. Mr Lappe placed the senior teams of over 40 emerging companies over a 13 year period. Mr Lappe is currently the Chairman of the
Board of Repros Therapuetics Inc., a NASDAQ listed biotechnology company. 

    Dr Kayyem and Mr Lappe are together the owners of Efficacy Capital Limited.
    Efficacy Capital Limited manages Efficacy Biotech Master Fund and FMG Special Opportunity Fund. Efficacy Biotech Master Fund and FMG
Special Opportunity Fund own 291,457,742 ordinary shares in the Company representing 32.69 per cent. of the Company's issued ordinary share
capital. Of these shares 288,487,742 are held by Efficacy Biotech Master Fund and 2,970,000 shares are held by FMG Special Opportunity Fund.
Mr Kayyem and Mr Lappe and their families and associates are interested in approximately 30 per cent of Efficacy Biotech Master Funds
holdings.

    In addition, Dr Kayyem is interested in IFIN LP, which owns 3,741,300 ordinary shares in the
    Company, representing 0.42 per cent of the Company's issued ordinary share capital.
    James White, Osmetech's Chief Executive commented today:

    "I am pleased to welcome Dr Kayyem and Mr Lappe to the Board. Each has extensive experience of the molecular diagnostics sector and both
have been long term supporters of Osmetech. I look forward to working with them as we step up the exploitation of our technology.

    "I would also like to thank Gordon Hall and Gordon Kuenster for their support in the development of  Osmetech's business to date."


    Set out below are the relevant disclosures required for Dr Kayyem and Mr Lappe under paragraph (g) of Schedule 2 of the AIM Rules: 

    Jon Faiz Kayyem

    Current Directorships and Partnerships;
    Efficacy Capital Limited

    Mark Lappe

    Current Directorships and Partnerships;
    Repros Therapeutics Inc
    Efficacy Capital Limited
    Lappe & Associates, Inc.

    For information:
 Osmetech plc:                       +44 (0) 20 7849 6027
 James White, Chief Executive
 David Sandilands, Finance Director

 Madano Partnership:                 +44 (0) 7887 561050/ +44 (0) 7827 335387
 Graham Moonie
 Dominic Barretto
 www.madano.com 

 Canaccord Adams Limited:            +44 (0) 20 7050 6500
 Robert Finlay
 Henry Fitzgerald-O'Connor


This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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