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Lipoxen PLC (XEN)

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Monday 18 August, 2008

Lipoxen PLC

Lipoxen Strengthens Managemen

RNS Number : 4678B
Lipoxen PLC
18 August 2008

Lipoxen Plc ('Lipoxen' or 'the Company')

Lipoxen Strengthens Management Team

Dr Peter Laing promoted to Chief Operating Officer and Dr Ajay K. Agrawal appointed as Head of Business Development

London, UK, 18 August 2008 - Lipoxen PLC, (AIM:LPX) a biopharmaceutical company specialising in the development of high value differentiated biologicals, vaccines and oncology drugs, announces today the elevation of Dr Peter Laing from Director of Business Development to the position of Chief Operating Officer and the appointment of Dr Ajay K. Agrawal as Head of Business Development.

Dr Laing joined Lipoxen in March 2002 and has played a leading role in developing the Company's R&D and Business Development operations and in the establishment of collaborative and licensing deals with the some of the World's top biotech companies. Dr Laing was a University Lecturer in Immunology until 1994 when he joined Peptide Therapeutics (now Acambis plc) as Director of Research, taking the company through an LSE listing. He has also held key executive positions at Actinova Ltd. (specializing in vaccine development), and Syngenix Ltd. (in the field of CNS drug delivery), as well as acting as a non-executive director of Adjuvantix Ltd. and currently as non-executive Chairman of Activotec Ltd.

Dr Agrawal has extensive experience in the biotech & pharma industry worldwide. He was a founder of the drug delivery company, polyMASC Pharmaceuticals plc, London in 1995. PolyMASC Pharmaceuticals was the first UK biotech company spun-out from a university (Royal Free HospitalSchool of Medicine) that was directly listed on AIM, raising approximately $40 million in 1995, and subsequently merged with a NASDAQ-listed company, Valentis Inc (USA) in 1999 to become one of the biggest companies in the delivery of biologics at that time. Dr Agrawal is currently a non-executive Director and Chairman of the remuneration and Vice-Chairman of audit committees of ImmuPharma plc (LSE listed company) and sits on the editorial advisory board of four international biotechnology journals from the USA.

Commenting on the expansion of the management team, Scott Maguire, CEO said 'I am very pleased to announce the promotion of Peter and the joining of Ajay and am extremely confident that their knowledge and expertise will further contribute to our continued success.'

'Peter has proven to be a great asset to the Company in transforming its scientific excellence into a focused offering of patent protected delivery solutions that are attractive to licensing partners, while enhancing the Company's position at the cutting edge in the field of drug delivery.' 

'The Board is delighted that Dr Agrawal is joining Lipoxen as his knowledge and broad business development experience will be a valuable addition to the Company. His appointment will play a substantial role in driving the Company forward and help to support the execution of our growth strategy in order to become a leading biopharmaceutical company.'


Ends -


Lipoxen PLC

M. Scott Maguire, Chief Executive Officer

+44 (0)20 7691 3583 

Landsbanki Securities (UK) Limited (nominated adviser)

Shaun Dobson / Claes Spång 

+44 (0)20 7426 9000

Citigate Dewe Rogerson

+44 (0)20 7638 9571

David Dible / Heather Keohane

Notes to Editors

Further information on Lipoxen 

Lipoxen PLC (AIM:LPX) is a biopharmaceutical company specializing in the development of high value differentiated biologicals, vaccines and oncology drugs. Products currently under development include improved formulations of important biologicals such as erythropoietin (EPO), G-CSF, insulin and Interferon-alpha. Lipoxen has two products in clinical development SuliXen, a long-acting human insulin and ErepoXen[R], long-acting EPO. These novel products, which are based on Lipoxen's proprietary PolyXen[R] technology, each address markets in excess of US$1 billion. 

Lipoxen's technology is designed to improve the stability, biological half-life and immunologic characteristics of therapeutic proteins naturally. Lipoxen has two further naturally-derived proprietary delivery technologies, ImuXen[R] and a related liposomal technology for the formulation of cytotoxic oncology drugs, which are being developed to enhance the efficacy and safety of various vaccines such as a multivalent Hepatitis B-E and pneumococcal vaccines, as well as a number of anti-cancer agents like paclitaxel. The Company's proprietary delivery technologies are attracting significant interest and Lipoxen is currently co-developing products with the Serum Institute of India Limited (one of the world's leading vaccine companies, India's largest biotech company and a major shareholder in Lipoxen) and has license agreements in place with Baxter International and InterVet, a leading animal health company.

Lipoxen was admitted to trading on the AIM Market of the London Stock Exchange in January 2006.

This announcement includes 'forward-looking statements' which include all statements other than statements of historical facts, including, without limitation, those regarding the Company's financial position, business strategy, plans and objectives of management for future operations (including development plans and objectives relating to the Company's products and services), and any statements preceded by, followed by or that include forward-looking terminology such as the words 'targets', 'believes', 'estimates', 'expects', 'aims', 'intends', 'will', 'can', 'may', 'anticipates', 'would', 'should', 'could' or similar expressions or the negative thereof. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors beyond the Company's control that could cause the actual results, performance or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Such forward-looking statements are based on numerous assumptions regarding the Company's present and future business strategies and the environment in which the Company will operate in the future. Among the important factors that could cause the Company's actual results, performance or achievements to differ materially from those in forward-looking statements include those relating to The Company's funding requirements, regulatory approvals, clinical trials, reliance on third parties, intellectual property, key personnel and other factors. These forward-looking statements speak only as at the date of this announcement. The Company expressly disclaims any obligation or undertaking to disseminate any updates or revisions to any forward-looking statements contained in this announcement to reflect any change in the Company's expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. As a result of these factors, readers are cautioned not to rely on any forward-looking statement.

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