TIDMDEST
RNS Number : 5453G
Destiny Pharma PLC
19 July 2023
Destiny Pharma plc
("Destiny Pharma" or "the Company")
Board changes including appointment of new CEO
Brighton, United Kingdom - 19 July 2023: Destiny Pharma plc
(AIM: DEST), a clinical stage innovative biotechnology company
focused on the development of novel medicines that can prevent
life-threatening infections, announces that Chris Tovey will join
the Company as Chief Executive Officer on 1 September 2023, taking
over from Dr Debra Barker - interim CEO - who will return to her
position as a Non-Executive Director.
The Company also announces the departure of Chairman, Nick
Rodgers, who has resigned to pursue other interests. Discussions
with a new outside chairman are very advanced with a further
announcement expected shortly.
Chris is a highly experienced, senior pharmaceutical executive.
He was most recently COO, Executive Vice President, and Managing
Director of Europe and International at Jazz Pharmaceuticals
following the acquisition of GW Pharmaceuticals (GW), where he
served as COO, EVP, and a board director. Thus, Chris was a key
part of the GW team that oversaw the significant growth and success
of the organisation prior to Jazz's $7.2bn acquisition of the
company. Prior to GW, Chris held multiple senior commercial roles
in the industry including VP and Head of Global Sales and Marketing
at UCB Pharma and 18 years in senior commercial roles at
GlaxoSmithKline in a wide range of therapeutic areas .
Incoming CEO, Chris Tovey, said: "I am delighted to be joining
Destiny, where there is an incredibly exciting opportunity to
progress a highly innovative product pipeline, targeting prevention
of infections and representing powerful new offerings to the
healthcare community that is seeking new approaches to treat and
prevent infectious diseases. Central will be XF-73 which following
on from excellent Phase 2b clinical data, and a positive
endorsement from our Scientific Advisory Board, is Phase 3 ready
for both US and European development. I am really looking forward
to September, when I can take over the reins from Debra, who has
made a significant impact in a short space of time."
Departing Chairman, Nick Rodgers, said: "I am delighted with the
progress Destiny Pharma has made since I joined as Chairman five
years ago. In recent years, we have significantly advanced the
clinical pipeline, with the acquisition and subsequent partnering
of NTCD-M3 with Sebela, and the establishment of a robust $2bn plus
market opportunity in the US with XF-73. Bringing Chris on as the
new CEO is a critical appointment as the Company moves towards
commercialising its advanced clinical stage assets, which have the
potential to provide transformative treatments for patients. With
Chris's appointment agreed, it is the correct time for me to step
back from the Company, and I wish Chris and the team every success
as Destiny continues on its growth journey."
For further information, please contact:
Destiny Pharma plc
Dr Debra Barker, Interim CEO
Shaun Claydon, CFO
+44 (0)1273 704 440
pressoffice@destinypharma.com
Powerscourt
Sarah Macleod / Adam Michael / Ibrahim Khalil / Christopher
Ward
+44 (0) 20 7250 1446
destiny@powerscourt-group.com
finnCap Ltd (Nominated Advisor and Joint Broker)
Geoff Nash / George Dollemore, Corporate Finance
Alice Lane / Nigel Birks / Harriet Ward, ECM
+44 (0) 20 7220 0500
Shore Capital (Joint Broker)
Daniel Bush / James Thomas / Lucy Bowden
+44 (0) 207 408 4090
Chris Tovey biography
Before joining Destiny Pharma Chris was at Jazz Pharmaceuticals
and prior to that at GW Pharmaceuticals where at both companies he
was the Chief Operating Officer with responsibilities which
included amongst other things, manufacturing all commercial
activities outside the US and manufacturing. In over a decade at
GW, Chris played a key role in developing the company from a small
UK biotech into a global leader with commercialised products that
established a new class of medicines and that changed the lives of
thousands of patients and families. He led the successful scale up
of the organisation and specifically manufacturing and the
commercial strategy and played a key role in the executive team
that raised in excess of $1.3 billion following a successful NASDAQ
IPO.
Prior to his time at GW Chris worked at UCB Pharmaceuticals
where he occupied a number of roles including leading the Global
Xyrem (GHB) Business Unit and then before that he spent 18 years at
GlaxoSmithKline plc in senior commercial roles in both the European
and U.K. organizations. He has worked across a wide range of
therapeutic areas including infectious diseases, neurology,
oncology, diabetes, respiratory, and immunology.
About Destiny Pharma
Destiny Pharma is a clinical stage, innovative biotechnology
company focused on the development of novel medicines that can
prevent life-threatening infections. Its pipeline has novel
microbiome-based biotherapeutics and XF drug clinical assets
including NTCD-M3, a Phase 3 ready treatment for the prevention of
C. difficile infection (CDI) recurrence which is the leading cause
of hospital acquired infection in the US and also XF-73 nasal gel,
which has recently completed a positive Phase 2b clinical trial
targeting the prevention of post-surgical staphylococcal hospital
infections including MRSA. It is also co-developing SPOR-COV, a
novel, biotherapeutic product for the prevention of COVID-19 and
other viral respiratory infections and has earlier grant funded XF
research projects.
For further information on the company, please visit
www.destinypharma.com
Regulatory disclosures
The following information is disclosed pursuant to Rule 17 and
Schedule Two paragraph (g) of the AIM Rules for Companies in
relation to Christopher John Tovey, aged 58:
Current directorships/partnerships Past directorships/partnerships
----------------------------------- ------------------------------------
Ohana First Properties Limited CanImGuide AB
Growpura Limited
GW Global Services (international)
Limited
GW Pharma Limited
GW Research Limited
GW Vaccines Limited
Jazz Pharmaceuticals UK Holdings
Limited
Chris has no beneficial interest in the ordinary shares of the
Company.
The Company confirms that there are no other disclosures to be
made pursuant to Rule 17 and Schedule Two paragraph (g) of the AIM
Rules for Companies with respect to Chris Tovey.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
MSCFLFELDSIALIV
(END) Dow Jones Newswires
July 19, 2023 07:55 ET (11:55 GMT)
Destiny Pharma (LSE:DEST)
Historical Stock Chart
From Apr 2024 to May 2024
Destiny Pharma (LSE:DEST)
Historical Stock Chart
From May 2023 to May 2024