Diurnal Group PLC Appointment of Chief Financial Officer (9595T)
January 12 2017 - 1:00AM
UK Regulatory
TIDMDNL
RNS Number : 9595T
Diurnal Group PLC
12 January 2017
12 January 2017
Diurnal Group plc
("Diurnal" or the "Company")
Diurnal announces the appointment of Richard Bungay as Chief
Financial Officer
Diurnal Group plc (AIM: DNL), the specialty pharmaceutical
company targeting patient needs in chronic endocrine (hormonal)
diseases, today announces the appointment of Richard Bungay as
Chief Financial Officer (CFO), effective 16 January 2017. Richard
succeeds Ian Ardill who has given notice of his resignation as the
Company's CFO in order to pursue other business opportunities. Ian
will leave Diurnal on 13 January 2017 and will be available to
support an orderly handover.
Mr. Bungay has over 20 years' experience in corporate roles
within R&D-based companies within the biotechnology and
pharmaceutical sector, including as CFO of both public and private
companies, with a particular focus on financing, investor relations
and business development. Most recently, Richard has been CFO and
Chief Operating Officer of Mereo BioPharma Group plc (AIM: MPH,
"Mereo"), a biopharmaceutical company focused on rare and specialty
diseases. During his time at Mereo, Richard was a key member of the
executive team raising funds totalling over GBP90 million, through
a private placement at the launch of Mereo in July 2015 and a
subsequent private placing and introduction of its shares on AIM in
June 2016.
Earlier in his career, Richard was Director of Corporate
Communications and Strategic Planning at Celltech Group plc until
its acquisition by UCB for GBP1.5bn in 2004, with responsibilities
that included spearheading investor relations activities to
maintain a large and diverse US and European shareholder base and
corporate M&A, including supporting large business development
transactions as well as several acquisitions.
Following his time at Celltech, Richard was CEO (and before that
CFO) of Chroma Therapeutics Ltd, a VC-backed biotechnology company
that was developing novel small molecules for inflammation and
oncology, where he was instrumental in raising over GBP55m in
financing and executing several large business development
transactions.
Richard's other experience includes CFO of Glide Technologies, a
device and development company focused on solid dose formulations
of therapeutics and vaccines, where he remains a Non-Executive
Director on the Board, CFO of Verona Pharma plc (AIM: VRP), a drug
development company focused on first-in-class medicines to treat
respiratory diseases, where he was a key member of the team raising
a GBP14m secondary financing on AIM, and Finance Director within
the Respiratory and Inflammation Therapy Area at AstraZeneca.
Richard qualified as a Chartered Accountant with Deloitte in
1993.
Peter Allen, Non-executive Chairman of Diurnal, commented:
"We warmly welcome Richard Bungay to the Company and the Board.
Richard's extensive experience of the biotechnology and
pharmaceutical sector, including his recent experience in another
public company focused on rare and specialty diseases, will be
invaluable as Diurnal strides towards realising its ambition of
becoming a world leading endocrinology specialty pharma
company.
The Board would like to thank Ian for his contribution and hard
work during this formative time for Diurnal. We wish him well for
the future."
The following information is disclosed pursuant to Schedule Two
paragraph (g) of the AIM Rules for Companies. Richard Edward
Bungay, aged 47 years, has been a director of the following
companies during the five years preceding the date of this
announcement:
Current directorships Past Directorships
------------------------- ---------------------------
Glide Pharmaceutical Mereo BioPharma Group
Technologies Ltd plc
Chroma Therapeutics Ltd Mereo BioPharma 1 Ltd
MacroTarg Ltd Mereo BioPharma 2 Ltd
Mereo BioPharma 3 Ltd
The Forest School Academy
Trust
Save as set out above there are no further disclosures pursuant
to Rule 17 or Schedule Two paragraph (g) of the AIM Rules for
Companies.
Mr Bungay has no beneficial interest in the ordinary shares of
the Company.
For further information, please visit www.diurnal.co.uk
or contact:
+44 (0)20 3727
Diurnal Group plc 1000
Martin Whitaker, CEO
Numis Securities Ltd (Nominated +44 (0)20 7260
Adviser) 1000
Nominated Adviser: Michael Meade,
Freddie Barnfield, Paul Gillam
Corporate Broking: James Black
+44 (0)20 3727
FTI Consulting 1000
Simon Conway
Victoria Foster Mitchell
Notes to Editors
About Diurnal Group plc
Founded in 2004, Diurnal is a UK-based specialty pharma company
developing high quality products for the global market for the
life-long treatment of chronic endocrine conditions, including
Congenital Adrenal Hyperplasia and Adrenal Insufficiency. Its
expertise and innovative research activities focus on
circadian-based endocrinology to yield novel product candidates in
the rare and chronic endocrine disease arena.
For further information about Diurnal, please visit
www.diurnal.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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