Last checked at 29 Mar 2012 07:00
29 March 2012
Phytopharm plc
Confirmation of Board changes
Phytopharm plc (PYM: London Stock Exchange) ("Phytopharm" or the "Company") today announces that following the appointment of Dr Ian Tulloch as a Non-Executive Director on 2 February 2012, Mr Sandy Morrison has stepped down as a Non-Executive Director of the Company as planned following the Company's Annual General Meeting on 27 March 2012.
Sandy Morrison was appointed to the Board of Phytopharm in June 2006, as a non-executive director. During his time on the Board of Phytopharm, Sandy has acted as chairman of the audit committee as well as chairman of the remuneration committee, making a considerable contribution to the effective running of the Board of Phytopharm. Of particular note was the period from November 2008 to July 2010, during which Sandy acted as Interim CEO whilst the Company transitioned from a pharmaceutical development and functional food company to a "pure play" pharmaceutical development company.
Alistair Taylor commented: "On his retirement from the Phytopharm Board, I would like to thank Sandy on behalf of the Board and the staff for his outstanding contribution to the Company's progress and wish him well in his future endeavours."
Enquiries Phytopharm plc Tim Sharpington, CEO Roger Hickling, R & D Director +44 1480 437 697 | For further information about Phytopharm, please see our website at http://www.phytopharm.com
| U.K. Investor Relations FTI Consulting Limited Ben Atwell John Dineen +44 207 831 3113 |
About Phytopharm
Phytopharm is a development stage pharmaceutical company developing novel treatments targeting diseases with high levels of unmet need. Our lead series of compounds, the sapogenins (including Cogane™ and Myogane™), has the potential to be a new class of therapy for neurodegenerative diseases including Parkinson's disease, ALS and glaucoma.
Phytopharm operates as a virtual company ensuring the majority of our financial resources are focused on our pharmaceutical pipeline. We utilise a network of scientific and clinical experts to help guide our development projects with our experienced pharmaceutical managers overseeing operations.
Our commercially focused development projects have the potential to produce significant treatment advances in our target areas of neurodegeneration and inflammatory disease. Our products are single chemical entities with novel mechanisms of action protected by strong patent families.
Phytopharm is listed on the Official List of the London Stock Exchange. Further information on Phytopharm is available from the Company's website www.phytopharm.com
Forward-looking statements
Certain information included in these statements is forward‑looking and involves risk and uncertainties that could cause results to differ materially from those expressed or implied by the forward looking statements.
Forward‑looking statements include, without limitation, projections relating to results of operations and financial conditions, market estimates, the Company's plans and objectives for future operations, including future revenues, financial plans and expected expenditures and divestments. All forward‑looking statements in this report are based upon information known to the Company on the date of this announcement. The Company undertakes no obligation to publicly update or revise any forward‑looking statement, whether as a result of new information, future events or otherwise.
It is not reasonably possible to itemise all of the many factors and specific events that could cause the Company's forward‑looking statements to be incorrect or that could otherwise have a material adverse effect on the future operations or results of the Company.