Angel Biotechnology Holdings Plc Board Changes (5407O)
12 Oktober 2012 - 8:00AM
UK Regulatory
TIDMABH
RNS Number : 5407O
Angel Biotechnology Holdings Plc
12 October 2012
12 October 2012
Angel Biotechnology Holdings plc
("Angel" or "the Group")
Board Changes
Angel Biotechnology Holdings plc, (AIM:ABH), the
biopharmaceutical contract manufacturer, wishes to announce that as
part of the on-going re-structuring of the business a number of
Board changes will be introduced before the calendar year end.
Dr. Paul Harper has decided to step down as Executive Chairman
with immediate effect after eight years in the role. He will take
up a non-executive position on the Board in order to complete a
number of projects he has been working on with the Executive team.
The key one, the joint venture involving work with Materia Medica
Holding, should be largely complete before the end of the calendar
year. Dr. Harper will step down from the Board upon the earlier of
completion of the joint venture agreement and 31 December 2012.
Mr. Nicholas Smith will take over the role of Non-Executive
Chairman and in this role he will be working closely with the
Executive team to use his corporate and financial expertise to help
with the integration of Angel Biomedical Limited and the proposed
joint venture involving Materia Medica Holding. In this regard, his
experience of working with companies in the East, in particular
Russia, will be of considerable value. In addition, he will seek to
accelerate the process of bringing higher added value opportunities
into the business.
Dr. Harper said: "The Group has significantly expanded its
offering to new customers and this will continue as our plans come
to fruition. It is therefore timely to hand the Chairmanship of the
Group on to Nick Smith who will take on the task of consolidating
the business.
Mr. Smith said: "I would like to thank Dr. Harper for his
stewardship of the Group. Over the last eight years he has
encountered and steered the Group through challenging economic
conditions, enabling it to be ready to take advantage of the
opportunities now before it in the biotechnical and biomedical
markets. My primary task will be to ensure that the Executive team
can maintain steady and controlled progress towards the delivery of
sustainable earnings."
For further information:
Angel Biotechnology Holdings plc
Lorna Peers, Finance Director +44 (0) 131 445 6077
Stewart White, Acting CEO/Commercial Director
www.angelbio.com
Grant Thornton, Corporate Finance
Colin Aaronson / Melanie Frean +44 (0) 20 7383 5100
Hybridan LLP (Broker)
Claire Noyce, Deepak Reddy +44 (0) 207947 4350
Media enquiries:
The Communications Portfolio Ltd
Philip Ranger / Caolan Mahon +44 (0) 20 7536 2028 / 2029
Philip.ranger@communications-portfolio.co.uk
Notes to Editors:
Angel Biotechnology Holdings plc is a full service contract
bio-manufacturing partner to biotechnology and pharmaceutical
companies worldwide. Angel specialises in advanced biologics
including biopharmaceutical proteins and cell therapies, such as
cellular vaccines and stem cells. At present, Angel's products are
principally used in pre-clinical studies and clinical trials with a
view to becoming the contract manufacturer of choice on a
continuing basis.
Drug development companies outsource their biopharmaceutical
manufacturing requirements to Angel to reduce their own capital
requirements and enable them to develop products more rapidly. In
addition, Angel provides complete regulatory services and
documentation to its customers while its manufacturing processes
adhere to the most stringent regulatory requirements. Products are
produced to current Good Manufacturing Practice (cGMP) standards as
required by the US Food and Drug Administration (FDA), and in
facilities that are certified to European standards by the
Medicines and Healthcare products Regulatory Agency (MHRA).
Its customers range from early-stage biotechnology companies
including ReNeuron plc and US-based Pathfinder Cell Therapy, to
established pharmaceutical companies such as Russian-based Materia
Medica Holdings.
Angel has three facilities: Pentlands Science Park near
Edinburgh, a site in Cramlington, near Newcastle-upon-Tyne and
Angel Biomedical Ltd facility in Glasgow.
More information is available at www.angelbio.com.
- Ends -
This information is provided by RNS
The company news service from the London Stock Exchange
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