LONDON (Alliance News) - Shares jumped in Redx Pharma PLC on Tuesday as it announced the appointment of AstraZeneca PLC executive Lisa Anson as chief executive officer with effect on June 1.
Shares in the drug discovery and development company jumped 43% at 8.91 pence on Tuesday.
Anson will replace Iain Ross, who will revert from executive to non-executive chairman.
Anson will join from the FTSE 100-listed pharmaceutical giant AstraZeneca, where she has been for 18 years since 2000, most recently as the president of the group's UK arm for six years since 2012.
"On behalf of the board and the team, I welcome Lisa to Redx. Following the events of 2017, Lisa has been tasked by the board to lead the re-launch of the company and to take the steps necessary to build a substantial biotech company built upon an innovative science base, selectively acquiring additional assets, if appropriate. Lisa is a consummate business professional, who brings a wealth of relevant experience from the international pharmaceutical and biotech sector," Ross said.
Redx exited administration in November 2017, five months after entering administration because of money owed to Liverpool City Council. Redx ended 2017 with no debt.