Physiomics PLC Physiomics Appoints New Chief Executive Officer (4789V)
April 18 2016 - 4:02AM
UK Regulatory
TIDMPYC
RNS Number : 4789V
Physiomics PLC
18 April 2016
Physiomics plc
("Physiomics") or ("the Company")
Physiomics Appoints a New Chief Executive Officer
Further to the announcement of 31 March 2016, the Company
confirms that Dr James Simon Millen, aged 47 is to be appointed
Chief Executive Officer of the Company with effect from today
(18(th) April 2016). Dr James Millen, known also as Jim, has
experience of drug development and of licensing deals in global
pharma companies. The Company also confirms that Dr Mark Chadwick
will step down as Chief Executive Officer today, but as previously
announced will remain on the Board of Physiomics as a NED for the
foreseeable future.
Jim is currently a director of LifeScience Advisors Limited,
Oval Medical Technologies Limited, Opticin Limited, HBM Biocapital
II Management Limited and is a partner of Treehill Advisors LLP. He
is not and has not been a director or partner of any other company
or partnership in the last five years.
Dr Millen qualified as a medical doctor at Cambridge University
and London and Barts Medical School, he also holds an MBA from
INSEAD. He held senior business development and commercial roles at
GSK and Allergan before leaving to pursue an ambition to work for
smaller lifescience companies which he has realised though a number
of executive and non-executive roles in companies in the UK and
beyond. He has completed an array of deals spanning licencing,
acquisition, divestment, development and commercialisation, which
the directors believe should serve to support the Company's efforts
to build a portfolio of products. The Company will continue to be
supported by its experienced Scientific Advisory Board with
particular expertise in the oncology field.
Chairman, Paul Harper commented "I believe Mark has done an
excellent job of directing the development of the Company's core
competency of modelling and simulation applied to drug development.
Under his guidance, I believe the Company has become a leader in
modelling and simulation with a number of global pharmaceutical
companies as clients. We look forward to continuing to work with
Mark as a Non-Executive Director whilst he pursues other interests.
We are excited about the future of the Company with Jim at the
helm, particularly as we look to progress our potential acquisition
of BioMoti Limited announced a few weeks ago."
There is no further information required to be disclosed
pursuant to AIM Rule 17 or Schedule 2, paragraph (g) of the AIM
Rules for Companies in relation to this appointment.
Enquiries:
Physiomics plc
Dr Jim Millen, CEO
+44 (0)1865 784 980
WH Ireland Limited (broker/nomad)
Katy Mitchell
+44 (0) 161 832 2174
About Physiomics plc
Physiomics (AIM:PYC) is a computational systems biology services
company applying simulations of cell behaviour to drug development
to reduce the high attrition rates of clinical trials. 80-90 per
cent of all clinical drug candidates fail to reach the market and
estimates show that an overall ten per cent improvement in success
rates could reduce the cost of one drug's development by as much as
$242 million, from the current estimate of around $800 million(1)
.
Physiomics develops computational systems biology models to
predict and understand cancer drug efficacy from pre-clinical
research to clinical development. Physiomics has created detailed
mathematical models incorporating the most important molecular
events taking place during the human cell cycle and apoptosis
processes. The company's SystemCell(R) technology enables the
simulation of populations of "virtual cells". The company has also
developed a "Virtual Tumour" model to simulate the effect of
anti-cancer drugs on tumour growth. The models are used to optimise
compound design and to design drug schedules and combination
therapies.
Physiomics, based in Oxford, UK, was founded in 2001, and
floated on AIM in 2004. For further information, please visit
www.physiomics-plc.com
SystemCell(R) is a registered trademark of Physiomics plc
(1) Tufts Centre Impact Report 2002
This information is provided by RNS
The company news service from the London Stock Exchange
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April 18, 2016 04:02 ET (08:02 GMT)
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