LONDON, UK: 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.”
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