Directorate Change

RNS Number : 3652X

Physiomics PLC

06 December 2010

 



Physiomics plc

("Physiomics" or "the Company")

Appointment of an Executive Director

Physiomics (AIM: PYC), the Oxford, UK, based systems biology company, is pleased to announce the appointment of Dr Mark Chadwick as Chief Executive Officer of the Company. As a Director of the Company he will join the main Board and the Remuneration Committee.

Mark has a 1^st class degree in Genetics (Nottingham), a PhD from the University of Newcastle and an MBA with distinction from Imperial College. Following three years of post-doctoral research in the MRC Laboratory of Molecular Biology in Cambridge Mark progressed into early-stage biotech companies notably as Head of Molecular Biology at Cambridge Drug Discovery and Director of Commercial Operations at BioFocus. These roles were involved in classical drug discovery and in the marketing of a broad spectrum of drug discovery technologies and services to established pharmaceutical companies, including out-licensing deals. Mark helped deliver a substantial increase in the growth of that business, greatly improving deal flow and through building a substantial customer base. He subsequently joined Excelsyn Molecular Developments Ltd ("EMD"), a company specializing in custom synthesis of drugs entering the clinical phase of their development, rising to VP of Business Development. Sales at EMD more than doubled over a two year period and the company achieved a seven figure EBITDA.

Mark has a creditable record of building service-based high technology bio-businesses drawing on his knowledge of the technologies and processes for developing new drugs. Mark will, in addition to his role as CEO, take charge of the business development function within Physiomics to build our client base, generate new contracts and build our business.

The Board would like to acknowledge the continuing contribution of our Chief Operating Officer, Dr Christophe Chassagnole, who has to date, led all aspects of the business over the past four years. He was responsible for helping to deliver our maiden profit in the year to 30 June 2009. He has worked tirelessly to build strength in depth in his team and to provide a platform for the next phase of the Company's development. Christophe will now focus more of his energies on building the technology base and leading his team in the delivery of best-in-class customer service in the execution of studies for sponsor companies. The Board would like to offer its sincere thanks for a job well done.

Dr Mark Philip Chadwick, aged 39, is currently a director of Envirogene Limited and Geoscience Wales Limited. He has not been a director or partner of any other Company or partnership in the last 5 years.

Mark Chadwick does not hold any shares in the Company.

There is no further information required by AIM Rule 17 of the AIM Rules for Companies, in relation to Mark Chadwick's appointment.

Enquiries:

Physiomics plc

Dr Paul Harper

[phone]

WH Ireland Limited

Katy Mitchell

[phone]

Information on Physiomics plc

Physiomics (AIM:PYC) is a computational systems biology services company applying simulations of cell behavior to drug development to reduce the high attrition rates of clinical trials. As 80-90 per cent of all clinical drug candidates fail to reach the market, 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.

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® technology enables the simulation of populations of "virtual cells". The models are used to optimize compound design, as well as 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

 

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