LONDON (Alliance News) - Computational biology systems company Physiomics PLC on Monday said its Chief Executive Mark Chadwick is to step down from the position effective from Monday, and will be replaced by James Millen.
Physiomics said Chadwick will remain on the board as a non-executive director for the foreseeable future.
The company said Millen is currently a partner at healthcare advisory firm Treehill Advisors LLP, and a non-executive director of parenteral-technology company Opal Medical Technologies Ltd and LifeScience Advisors Ltd. Millen is also chief executive of biotech company Opticin Therapeutics.
Millen "has completed an array of deals spanning licencing, acquisition, divestment, development and commercialisation, which the directors believe should serve to support the company's efforts to build a portfolio of products," Physiomics said, adding that it will continue to be supported by its experienced Scientific Advisory Board with particular expertise in the oncology field.
"We are excited about the future of the company with Jim at the helm, particularly as we look to progress our potential acquisition of BioMoti Ltd announced a few weeks ago," Chairman Paul Harper said.
Shares in Physiomics were up 9.1% at 0.0300 pence on Monday.
By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland
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Physiomics (PYC)