27 Sep 2023 07:00
Arix Bioscience PLC (ARIX) Board Change 27-Sep-2023 / 07:00 GMT/BST
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF THE EU MARKET ABUSE REGULATION NO.596/2014
Arix Bioscience plc
Board Change
LONDON, 27 September 2023: Arix Bioscience plc (“Arix” or the “Company”) (LSE: ARIX), a transatlantic venture capital company focused on investing in breakthrough biotechnology companies, today announces that Robert Lyne, Chief Executive Officer has decided to step down from his position to pursue a new opportunity and will leave the company by the end of 2023.
Peregrine Moncreiffe, Chairman of Arix, stated:
“Robert has been a pivotal part of Arix’s journey and its founding purpose of bringing breakthrough advances in biotechnology to patients who need them while delivering significant returns to shareholders. He navigated the company following a period of corporate governance uncertainty, and through the Covid pandemic and subsequent market volatility, deploying a dual approach of conserving cash while enhancing value in the portfolio by selecting highly prospective new investments. This strategy has preserved shareholder value during a period of sustained market uncertainty. We thank Robert for his significant contributions to Arix over the years and wish him well in the future.
“Going forward, the Board’s primary focus will be to maximise shareholder returns and unlock the value in the Arix portfolio. Consequently, the Board will determine appropriate Board and management arrangements following the outcome of the strategic review and update shareholders accordingly. The Board will maintain its decision-making responsibilities on all investment decisions.”
[ENDS]
Enquiries For more information on Arix, please contact:
Arix Bioscience plc +44 (0)20 7290 1050 ir@arixbioscience.com
Powerscourt Group Sarah MacLeod, Ibrahim Khalil, Nick Johnson +44 (0)20 7250 1446 arix@powerscourt-group.com
About Arix Bioscience plc Arix Bioscience plc is a transatlantic venture capital company focused on investing in breakthrough biotechnology companies around cutting-edge advances in life sciences.
We collaborate with exceptional entrepreneurs and provide the capital, expertise, and global networks to help accelerate their ideas into important new treatments for patients. As a listed company, we are able to bring this exciting growth phase of our industry to a broader range of investors. www.arixbioscience.com
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| ISIN: | GB00BD045071 |
| Category Code: | BOA |
| TIDM: | ARIX |
| LEI Code: | 213800OVT3AHQCXNIX43 |
| OAM Categories: | 3.1. Additional regulated information required to be disclosed under the laws of a Member State |
| Sequence No.: | 274074 |
| EQS News ID: | 1735077 |
| End of Announcement | EQS News Service |
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