Ovoca Bio PLC
15 July 2024
This announcement contains inside
information
Ovoca Bio
plc
("Ovoca"
or the "Company")
Ovoca Bio
Announces Management Change
Dublin, Ireland, 15 July 2024 - Ovoca
Bio, a biopharmaceutical company with a focus on women's health,
announces the following change in management and board composition.
Kirill Golovanov has informed the Board of his intention to resign
from his role as Chief Executive and an Executive Director of the
Company, with effect from 1 August 2024. At the same time, Timothy
McCutcheon will become Chief Executive Officer and remain as a
Director of the Company.
Mr. Golovanov stated: "It has been a pleasure to serve as Executive
Director of Ovoca for the past 12 years and it is with a heavy
heart that I am leaving the Company. However, with the end of the
Company's efforts to develop Orenetide, I believe now is the
appropriate time for Ovoca to have new leadership and change
direction. I wish Mr. McCutcheon the best in his efforts to
re-position Ovoca and I wish all the team at Ovoca the very
best for the future."
Mr. McCutcheon commented:
"I would like to thank Mr.
Golovanov for his long service to the Company, and I know it was a
difficult decision for him to decide to step down. I am excited to
take on the role of Chief Executive of Ovoca and to work with my
colleagues to deliver future value for shareholders, both through
realizing the value from our existing assets and also exploring new
opportunities where we can leverage our existing skills and
knowledge. I look forward to updating stakeholders on our progress
in the coming months."
In addition to the management change,
Mr. McCutcheon has acquired from Mr. Golovanov his stake in Ovoca,
totaling 19,506,203 ordinary shares.
Mr. McCutcheon is a capital markets
professional and corporate manager with over 25 years' business
experience. He has served as CEO and Director of several
public natural resource companies with assets in Canada, Chile,
Kyrgyzstan, Ghana, Mali, Russia, Slovakia and USA. Prior to his
role as company manager, he was an award winning equity analyst at
a major brokerage firm and founder of a boutique merchant bank
specializing in the mining sector. Mr. McCutcheon obtained his BA
his MBA in finance from Columbia University.
End
For further information:
Ovoca Bio plc
Kirill Golovanov (Chief
Executive)
Tel +353 1 661 9819
info@ovocabio.com
Davy (Nominated Adviser, Euronext
Growth Listing Sponsor and Broker)
Ivan Murphy / Daragh
O'Reilly
Tel: +353 1 679 6363
END