Destiny Pharma PLC Appointment of new Chairman (0194H)
July 25 2023 - 2:00AM
UK Regulatory
TIDMDEST
RNS Number : 0194H
Destiny Pharma PLC
25 July 2023
Destiny Pharma plc
("Destiny Pharma" or "the Company")
Appointment of new Chairman
Brighton, United Kingdom - 25 July 2023 : Destiny Pharma plc
(AIM: DEST), a clinical stage innovative biotechnology company
focused on the development of novel medicines that can prevent
life-threatening infections, today announces that Sir Nigel Rudd
will be returning as Company Chairman, effective immediately.
Sir Nigel has an impressive track record in creating value for
shareholders in a variety of business sectors. He has chaired the
Business Growth Fund (supporting growth in many SMEs), Heathrow,
Alliance Boots, Signature, Pilkington, Meggitt, and a number of
other major companies. He was also Deputy Chairman of Barclays Bank
for a number of years. Sir Nigel was previously Chairman of Destiny
from 2010 to 2018 and led its flotation on the London AIM
market.
His appointment follows the announcement of 19 July 2023, that
the Company has appointed Chris Tovey as Chief Executive Officer,
who will join the company on 1 September 2023. Interim CEO Debra
Barker will return to her position as Non-Executive Director.
Returning Chairman Sir Nigel Rudd said: "My confidence in
Destiny can be traced back 20 years to my first investment in the
business. It is with great pleasure that I can return to the
Company at such an exciting time, as we move towards the
commercialisation of our products. Our recent market research is
indicating that there is a blockbuster, $2bn plus opportunity with
the XF-73 programme in the US alone. And our NTCD-M3 programme is
Phase 3 ready, with the clinical development and regulatory
investment required, coming from our partner Sebela."
Interim CEO, Dr Debra Barker said: "Sir Nigel is rejoining the
Board at a critical juncture in the Company's journey, as we
accelerate progress towards the commercialisation of our product
pipeline. Sir Nigel's broad experience, alongside incoming CEO
Chris Tovey's biotech, transactional and dealmaking experience,
establishes a robust Board capable of delivering on Destiny's
commercial objectives, and realising the inherent value of our
products. I look forward to working alongside them both."
For further information, please contact:
Destiny Pharma plc
Dr Debra Barker, Interim CEO
Shaun Claydon, CFO
+44 (0)1273 704 440
pressoffice@destinypharma.com
Powerscourt
Sarah Macleod / Adam Michael / Ibrahim Khalil / Christopher
Ward
+44 (0) 20 7250 1446
destiny@powerscourt-group.com
finnCap Ltd (Nominated Advisor and Joint Broker)
Geoff Nash / George Dollemore, Corporate Finance
Alice Lane / Nigel Birks / Harriet Ward, ECM
+44 (0) 20 7220 0500
Shore Capital (Joint Broker)
Daniel Bush / James Thomas / Lucy Bowden
+44 (0) 207 408 4090
About Destiny Pharma
Destiny Pharma is a clinical stage, innovative biotechnology
company focused on the development of novel medicines that can
prevent life-threatening infections. Its pipeline has novel
microbiome-based biotherapeutics and XF drug clinical assets
including NTCD-M3, a Phase 3 ready treatment for the prevention of
C. difficile infection (CDI) recurrence which is the leading cause
of hospital acquired infection in the US and also XF-73 nasal gel,
which has recently completed a positive Phase 2b clinical trial
targeting the prevention of post-surgical staphylococcal hospital
infections including MRSA. It is also co-developing SPOR-COV, a
novel, biotherapeutic product for the prevention of COVID-19 and
other viral respiratory infections and has earlier grant funded XF
research projects.
For further information on the company, please visit
www.destinypharma.com
In accordance with Schedule 2(g) of the AIM Rules, Anthony Nigel
Russell Rudd, aged 76, holds or has held, within the last five
years, the following directorships and partnerships:
Current directorships/partnerships Past directorships/partnerships
----------------------------------- --------------------------------
Coleman Investments Limited BGF Group plc
iPulse Direct Limited Destiny Pharma PLC
iPulse Limited JCCIP LLP
Juno Capital Partners LLP Juno Capital (FP) LLP
LCIP 2007 LLP Juno Capital (GP) LLP
LCIP 2009 LLP Juno Capital LLP
LCIP 2010 LLP Meggitt PLC
Loch Lomond Golf Club Limited Pacarula Limited
Rother House Finance Limited Signature Aviation Limited
Rudd & Son LLP
Sappi Limited
At the date of this announcement, Sir Nigel Rudd has an interest
in 2,414,608 ordinary shares representing 2.53% of the total voting
rights of the Company.
There is no further information disclosable in respect of Sir
Nigel Rudd pursuant to Schedule 2(g) of the AIM rules for
companies.
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END
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