Arix Bioscience Plc : - Changes to Board of Directors and executive leadership

Arix Bioscience plc

Arix announces changes to Board of Directors and executive leadership team

LONDON, 6 April 2020: Arix Bioscience plc (LSE: ARIX) (“Arix” or the “Company”), a global venture capital company focused on investing in and building breakthrough biotech companies, today announces changes to the Company’s Board of Directors and executive leadership team. These changes right-size the organisation as the Company shifts to value realisation from its current portfolio, setting the stage for future growth. 

Naseem Amin, currently Non-Executive Director at Arix, will assume the role of Executive Chairman, effective immediately. Jonathan Peacock, co-founder and Chairman, and Art Pappas, Non-Executive Director, will step down from the Company’s Board of Directors at the 2020 Annual General Meeting.  

Joe Anderson, co-founder and Chief Executive Officer of Arix will leave the Company, effective immediately, along with two members of the senior team. The investment team retained in both Europe and the US will build on the current portfolio and lead further investments.

Jonathan Peacock, Chairman of the Board of Directors, commented:

“On behalf of the Board I would like to thank Joe and those leaving Arix for their significant contribution to advancing great science and creating at Arix a broad portfolio of leading biotech companies, each with the potential to bring important breakthrough therapies to patients. These operational changes, which will have a substantial impact on cost-structure, best position the Company to capture value and set the stage for future long-term growth. Under Naseem’s leadership, I feel confident that the business is in good hands to deliver on that opportunity.

“I also wish to thank Art for his expertise and guidance as Non-Executive Director. Art’s experience in venture capital and as a seasoned biotechnology and pharmaceutical industry executive has been very important in guiding Arix’s strategy and recent operational changes.”

Naseem Amin, Executive Chairman, commented:

“I am very pleased to transition to the position of Executive Chairman at Arix. The founders and management team have done exceptional work in establishing a strong and exciting portfolio of innovative biotech investments. I look forward to working closely with the team to ensure we are optimally positioned to generate superior returns for stakeholders and ultimately be part of delivering new potential therapies to patients.”

Naseem joined the Arix Board in December 2019. He has broad life sciences experience in both the US and Europe, having held senior positions in major healthcare businesses in R&D, business development, marketing, and in venture capital. Naseem has been a Venture Partner at Advent Life Sciences, Chief Scientific Officer of Smith and Nephew plc and led Business Development at Biogen and at Genzyme Therapeutics, where for both of these companies, he initiated and executed a number of acquisitions and partnerships. Naseem started his career at Baxter Healthcare where he had executive roles in marketing, product development and clinical research. Naseem is a qualified medical doctor, from the University College Medical School, London, and holds an MBA from the Kellogg Graduate School of Management, Northwestern University.

[ENDS]

Enquiries

For more information on Arix, please contact:

Arix Bioscience plc
Charlotte Parry, Head of Investor Relations
[phone]
[e-mail]  

Optimum Strategic Communications
Mary Clark, Supriya Mathur, Shabnam Bashir
[phone]
[e-mail]

This announcement includes information that is inside information as defined in Article 7 of the Market Abuse Regulation (EU) No.596/2014. Upon publication of the announcement via a regulatory information service, this information is considered to be in the public domain. The person responsible for arranging for the release of this announcement on behalf of Arix Bioscience plc is Robert Lyne, General Counsel.

About Arix Bioscience plc

Arix Bioscience plc is a global venture capital company focused on investing in and building breakthrough biotech companies around cutting edge advances in life sciences.

We collaborate with exceptional entrepreneurs and provide the capital, expertise and global networks to help accelerate their ideas into important new treatments for patients. As a listed company, we are able to bring this exciting growth phase of our industry to a broader range of investors.

www.arixbioscience.com