Destiny Pharma. Share News (DEST)

(Sharecast News) - Clinical stage biotechnology firm Destiny Pharma revealed on Thursday that long-time chairman Nigel Rudd was stepping down from the board on 31 December after eight years.Rudd, who made his first investment in the company all the way back in 2003, will be replaced by non-executive director Nick Rodgers, the former chairman of gene-based biopharmaceutical company Oxford Biomedica.The outgoing chairman said: "It has been a privilege to be part of Destiny Pharma for the past 15 years. During this time, the company has experienced transformative growth underpinned by the discovery of the XF drug platform which has the potential to address the global issue of antimicrobial resistance.""I am confident in the outlook of the business, with a strong management team in place to deliver against the company's strategic goals," he added.As of 1030 BST, Destiny shares had fallen 4.78% to 85.70p.