Expansion of leadership team
Oxford Nanopore Technologies plc
Expansion of leadership team
22 January 2024
Oxford Nanopore Technologies plc (LSE: ONT) ("Oxford Nanopore" or the "Group"), the company delivering a new generation of nanopore-based molecular sensing technology, today announces the expansion of the leadership team to support the business in its next phase of growth.
Following a comprehensive search process, Nick Keher has been appointed as Chief Financial Officer ("CFO") and Director of Oxford Nanopore, effective 22 January 2024. Nick will succeed Tim Cowper, who moves into a new role as Chief Operating Officer ("COO") after performing both the role of CFO and fulfilling most of the responsibilities typically assigned to a COO for the past five years.
Nick is an experienced life sciences CFO, having previously served as CFO of Clinigen Group and Benevolent AI. Prior to his CFO roles he gained extensive experience in the life sciences industry serving as Managing Director and Head of the European healthcare equity research team at Royal Bank of Canada (RBC) and before that held roles at Investec and GSK after switching from practising pharmacy. Nick comes to the role with significant experience of financial leadership of complex, scientific businesses, and has a deep understanding of capital markets. In his role as CFO, Nick will have responsibility for the Group's finance function and investor relations.
In his new role as COO, Tim Cowper will lead the development of Oxford Nanopore's expanding international footprint and operations, including day to day operational functions such as manufacturing, tech transfer, IT, supply chain, global distribution, EHS and set up and management of international facilities.
There will be a transition period to ensure a smooth handover and the efficient completion of the Company's 2023 audit and full year financial results. Going forward in his role as COO, Tim will continue to work closely with the new CFO to drive operational performance and margin enhancement.
Gordon Sanghera, Chief Executive Officer of Oxford Nanopore, commented:
"We are delighted to welcome Nick as CFO. His experience and expertise of public company financial leadership in an innovative business environment will support our sustainable growth towards profitability. With his scientific background, he also understands the specific opportunities for life science companies. These combine with a passion to deliver impact for all of our stakeholders. I am excited to be working with Nick to drive value creation in the coming years."
"I would also like to thank Tim for his leadership as CFO - for not only building and managing our financial function through our IPO process and driving our transition to a public company, but also leading many aspects of our operations in recent years. As we continue to scale the business and enhance our supply chain to meet growing demand for our products, Tim's expertise will continue to be a significant asset to the business, and I look forward to continuing to work with him in his new role as COO"
Nick Keher, Chief Financial Officer of Oxford Nanopore, commented:
"This is a great opportunity to join a global life sciences company with a unique, best-in-class technology platform and an ambitious vision for the future. I am delighted to be joining Gordon and the team at such an exciting time in the company's growth journey and I look forward to working together to deliver the business strategy and to create long-term shareholder value."
Tim Cowper, Chief Operating Officer of Oxford Nanopore, commented:
"I am excited to be moving into this new COO role, which is critical as we further develop our sophisticated operations to support expanding customer demand. Now is a good time to enhance our management team to build on the significant growth that we have achieved over the last five years. Nick's diverse experience will help enable us to scale Oxford Nanopore to reach new heights and I look forward to working with him in this next stage of our development."
During the past five years, Nick Keher has been a director of Clinigen Group. There are no further disclosures required in respect of this appointment pursuant to Listing Rule 9.6.13.
[ENDS]
For further information, please contact:
Oxford Nanopore Technologies plc
Investors: ir@nanoporetech.com
Media: media@nanoporetech.com
Teneo (communications adviser to the Company)
Tom Murray, Olivia Peters
+44 (0) 20 7353 4200
OxfordNanoporeTechnologies@teneo.com
Notes
Remuneration Arrangements
Nick Keher's remuneration arrangements have been set in accordance with the Directors' Remuneration Policy detailed in the FY22 Annual Report. Further details will be set out in the Directors' Remuneration Report for FY23.
About Oxford Nanopore Technologies plc:
Oxford Nanopore Technologies' goal is to bring the widest benefits to society through enabling the analysis of anything, by anyone, anywhere. The company has developed a new generation of nanopore-based sensing technology that is currently used for real-time, high-performance, accessible, and scalable analysis of DNA and RNA. The technology is used in more than 120 countries, to understand the biology of humans, plants, animals, bacteria, viruses and environments as well as to understand diseases such as cancer. Oxford Nanopore's technology also has the potential to provide broad, high impact, rapid insights in a number of areas including healthcare, food and agriculture. Oxford Nanopore Technologies products are intended for molecular biology applications and are not intended for diagnostic purposes. For more information please visit: www.nanoporetech.com
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