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Lipoxen PLC (XEN)

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Monday 06 October, 2008

Lipoxen PLC

Board Changes

RNS Number : 1131F
Lipoxen PLC
06 October 2008
 



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



Lipoxen announces Board Changes


London, UK, 06 October 2008 - Lipoxen PLC, (AIM:LPX) a biopharmaceutical company specialising in the development of high value differentiated biologicals, vaccines and oncology drugs, today announces changes to its Board of Directors. With immediate effect Mr Igor Nikolaev is appointed to the Company's Board, as a non-executive director and Dr Tatiana Zhuravskaya is stepping down.


Mr Nikolaev was formerly Deputy Director of the Russian branch of the international law firm Clyde and Co. Prior to this he was at Rothman's International in St. Petersburg where he was an in-house lawyer and advised on the merger with British American TobaccoMr Nikolaev has also worked at Herbert Smith in LondonHis practice areas are corporate and commercial law, litigation and privatisation. 

Dr Tatiana Zhuravskayaa non-executive director at Lipoxen, is stepping down from the Board after six years but will remain with the Company as a consultant focusing on project management. 

M. Scott Maguire, CEO of Lipoxen, said: 'I am delighted to welcome Mr Nikolaev to the team and look forward to working with him in his new role as a Lipoxen board member. I regard this decision to join Lipoxen's Board as a great support to the Company's business and overall market opportunity. I, and the rest of the Board, look forward to the valuable contribution he will make to the Company. We would also like to thank Dr Zhuravskaya for her contributions to the Lipoxen board. Her technical expertise will continue to serve as valuable input on project managing and existing collaborations, as well as on our product candidate portfolio.' 


FORMAL DISCLOSURE


The Company makes the following formal disclosure in connection with the above-mentioned appointment:


Full name: Igor Anatolievich Nikolaev

Age: 41


Directorships or partnerships current or held in the previous five years:


Current Directorships

Appointed

Pharma Industries Ltd

17 May 2007

Pharma Research Ltd

17 May 2007



Save as disclosed above, there is no other information required to be disclosed under Schedule 2, paragraph (g) of the AIM Rules for Companies.



- Ends -


 Enquiries 


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.



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