BRIGHTON, UNITED KINGDOM: 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, ahead of the AGM, that Neil Clark has decided to step down as Chief Executive Officer to pursue new challenges. Neil will also step down from the board with immediate effect.

Dr Debra Barker, who is currently a Non-Executive Director, will become interim CEO until a permanent replacement is appointed. Neil will continue to support the business for a limited period to ensure an orderly handover. Dr Barker has a wealth of experience as a senior executive and Board director in life science companies including the anti-infectives sector having held key roles at Novartis and Polyphor, in addition to roles at Roche, GSK and Polyneuron.

Nick Rodgers, Chairman of Destiny Pharma, said: “Neil’s contribution to the Company over the last six years has been significant. Having recently led the exclusive collaboration and co-development agreement for NTCD-M3 with Sebela Pharmaceuticals, raised finance, achieved the publication of landmark XF-73 Phase 2 data, and positive results from the SPOR-COV research, he has decided that it is the right time for him to move on to a fresh challenge. He leaves the business well positioned with a strong balance sheet and a diversified, late-stage pipeline. On behalf of the Board, I want to thank Neil for the commitment he has shown in delivering Destiny’s strategy over the last 6 years since he led the IPO of the business in 2017.

“Debra joined Destiny in 2020 and knows the business well. Her experience of working in various roles at big pharma will play an integral part in delivering the next phase of Destiny Pharma’s strategy, as we look to maximise the value of our strong product pipeline.”

Dr Debra Barker, Interim Chief Executive Officer of Destiny Pharma, said: “The business is well positioned to build on the progress that has been achieved and there are significant opportunities that lie ahead for the Company. My primary focus will be on advancing partnership discussions for XF-73 nasal and I look forward to leading Destiny until the Board appoints a permanent successor to drive the business through its next phase of growth.”