The Board of Port Erin Biopharma Investments Limited announced that Nicholas Woolard has informed the Board of his decision to stand down as a Non-Executive Director of the company with immediate effect in order to allow him to focus on other business interests. Nicholas joined the Board in May 2011 prior to the company's listing in September 2011, and has served on its Audit and Remuneration committees since that date. The Board further announced the appointment of Alexander Anderson Stuart Whamond as a Non-Executive Director of the company with immediate effect.

Anderson has over 25 years' experience in the banking and financial sector. He began his career in 1983 at White Weld Securities (part of the CSFB group) before joining Salomon Brothers International in London in 1986 and then Morgan Stanley International in 1989.