TIDMC4XD

RNS Number : 2222D

C4X Discovery Holdings PLC

20 June 2023

C4X Discovery Holdings plc

("C4XD", "C4X Discovery" or the "Company")

Board Change

20 June 2023 - C4X Discovery Holdings plc (AIM: C4XD), a pioneering Drug Discovery company, today announces that Eva-Lotta Allan will step down as Chair after five years of service with immediate effect. Clive Dix will simultaneously become interim Executive Chair and a search will commence to find a new Chief Executive Officer. Clive Dix, who has held a variety of leadership roles at C4XD over the past nine years, will be interim Executive Chair until a new CEO is appointed in order to ensure a smooth transition, after which point it is expected that he will assume a Non-Executive Board role.

Eva-Lotta became Chair in July 2018 and steps down now to focus on her portfolio of other Board director roles. The search will now be initiated to recruit a new CEO of C4XD, ideally with strong leadership skills, an international network and IR experience in global public markets, and a track record of building a company with products that have entered clinical development.

Clive Dix, CEO of C4XD, said: "I would like to thank Eva-Lotta, both personally and on behalf of the Board for her guidance and support over the past five years as, together, we have built C4XD into a strong company with an established reputation for drug discovery expertise. The business is one I feel extremely confident and passionate about and I look forward to working with the Board to find a suitable CEO successor to continue to drive our new strategy forward with the focus in immuno-inflammatory diseases."

Eva-Lotta Allan, Chair of C4XD, commented: "Over the past five years we have built a commercially attractive pipeline and executed several value-creating deals for C4XD programmes with leading pharma companies and, after five years, I now feel it is the right time to hand the reigns to Clive as interim Executive Chair. A smooth succession plan will allow us to bring in a new CEO with the right experience to take the Company to its next stage , thereby ensuring that C4XD continues to deliver on its vision, strategy and, most importantly new therapies to improve the lives of patients with immuno-inflammatory diseases. I have enjoyed working with the CX4D team and the Board and wish everyone at C4XD well."

- Ends -

Contacts

 
 C4X Discovery Holdings 
 Mo Noonan, Communications                    +44 (0)787 6444977 
 
 Panmure Gordon (UK) Limited (NOMAD and 
  Broker) 
 Freddy Crossley, Emma Earl (Corporate 
  Finance)                                    +44 (0)20 7886 2500 
 Rupert Dearden (Corporate Broking) 
 
 C4X Discovery Media - Consilium Strategic 
  Communications 
 Mary-Jane Elliott, Chris Gardner, Matthew 
  Neal                                        +44 (0)203 709 5700

Notes to Editors:

About C4X Discovery

C4X Discovery ("C4XD") is a pioneering Drug Discovery company, combining scientific expertise with cutting-edge Drug Discovery technologies to efficiently deliver world--leading medicines. We have a highly valuable and differentiated approach to Drug Discovery through our enhanced candidate molecule design and patient stratification capabilities, generating small molecule drug candidates across multiple disease areas focused on immuno-inflammation. Our commercially attractive portfolio ranges from early-stage target opportunities to late-stage Drug Discovery programmes and we have three commercially partnered programmes with one candidate in clinical development.

For more information visit us at www.c4xdiscovery.com or follow us on twitter @C4XDiscovery.

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END

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June 20, 2023 02:00 ET (06:00 GMT)

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