Ixico Regulatory News (IXI)

20 Jun 2007 07:00

Phytopharm PLC20 June 2007 Company Contact: U.K. Investor Relations Contact:Phytopharm plc FDDr Daryl Rees CEO David YatesMr Piers Morgan CFO Ben Atwell+44 1480 437 697 +44 207 831 3113www.phytopharm.com Appointment of Chairman GODMANCHESTER, Cambridgeshire, U.K. (20 June 2007) - Phytopharm plc (LSE: PYM)("Phytopharm" or the "Company") today announces the appointment of AlistairTaylor as Non-Executive Chairman. Mr Taylor will join the Board of Phytopharmplc with effect from 18 July, succeeding Dr Paul Whitney who retires from theCompany after 10 years. This appointment completes the planned restructuring ofthe board. Mr Taylor is currently Executive Chairman of UK listed Lombard MedicalTechnologies plc and has 45 years experience in the healthcare industry, tenyears in pharmaceuticals and 35 years in medical devices. He was ChiefExecutive Officer of Biocompatibles International plc from 1994 to 1998 andduring this period the company progressed from a technology-based start upcompany, through flotation to a FTSE 250 company. Prior to this, Mr Taylor wasChief Executive Officer of Schneider Inc, a Swiss interventional cardiology/radiology device company and during this time the company's turnover grew to$100 million. Schneider was subsequently sold by Pfizer Inc., its parent, forover $2 billion. During his extensive and successful career, Mr Taylor has made 13 acquisitionsof healthcare companies in USA, Europe and Japan, has taken two companies publicon the UK stock market, and raised over $300 million in public and private fundsin Europe and the USA. Mr Taylor's early career included the Chief Accountantrole at Beecham Pharmaceuticals. He is also Chairman of Starbridge SystemsLimited and a Non-Executive Director of Vascular Concepts Limited. Commenting on today's announcement, Dr Paul Whitney, Chairman of Phytopharm plc,said: "I am delighted that we have attracted Alistair Taylor to be the next Chairmanof Phytopharm. His experience running major healthcare companies and theinsights gained from building these organizations into highly successfulbusinesses will be an important resource to the Company. I know that I will beleaving the company in capable hands with Alistair and the excellent executivemanagement and non-executive team." Commenting on today's announcement, Alistair Taylor said: "I am pleased to be joining the Board at this exciting time when the businesshas such strong further growth potential. I look forward to working with theexecutive team to continue Phytopharm's success and to explore additionaloptions for growth and the creation of shareholder value." There are no further disclosures to be made under paragraphs 9.6.13R of theListing Rules and 3.1.2R of the Disclosures Rules in respect of Mr Taylor. -Ends- Notes to Editors Phytopharm plc Phytopharm is a pharmaceutical development and functional food company whoseproduct leads are generated from medicinal plants. The Company's strategy is todevelop these products through 'proof of principle' clinical testing, and thensecure partners for late stage development, sales and marketing. Laboratory,manufacturing and clinical work is outsourced to selected specialists, operatingunder expert in-house management. This operational structure allows access tothe best external research facilities whilst maintaining low fixed overheads anda lower development cost structure. For further information about Phytopharm please see our website at http://www.phytopharm.com This information is provided by RNS The company news service from the London Stock Exchange