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

END

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