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Asterand plc (ATD.L) - Board Changes


7/29/2011 10:50:51 AM

July 29, 2011 -- The Company today announces that Martyn Coombs has decided to step down as Chief Executive Officer, with immediate effect.

Martyn has been responsible for guiding the Company though an exciting period in its development, including the acquisition of BioSeek in 2010 which has added significantly to the Company’s growth prospects.

The Company has immediately commissioned a search process for the new CEO. In the meantime Jack Davis, the Company’s Chairman, will take over the role of Interim CEO.

Jack Davis, the Chairman and Interim CEO, said: “Martyn has been a positive influence as CEO over the last four years and we wish him well for the future.”

The Company continues to experience the trading patterns described in the IMS on 17 May 2011 and, not withstanding the historical weighting towards the second half, the Board remains confident in achieving market expectations for the year as a whole.

Contacts:

Asterand plc

Jack Davis, Chairman and Interim Chief Executive Officer

Tel: + 44 (0) 1763 211 600 / + 1 (313) 263-0960

John Stchur, Chief Financial Officer As above

Buchanan Communications

Lisa Baderoon / Mark Court / Isabel Podda

Tel: +44 (0) 20 7466 5000

Daniel Stewart & Company plc

Antony Legge

Tel: +44 (0) 20 7776 6550

Martin Lampshire

About Asterand

Asterand plc is a leading supplier of high quality human tissue and tissue-based services. Our comprehensive approach to human tissue and research services offers pharmaceutical, biotech and diagnostic companies the unique opportunity to have one company meet all of their human biomaterial needs along the continuum of drug discovery and development. Our mission is to accelerate target discovery and compound validation and enable pharmaceutical and biotechnology companies to take safer and more effective drugs into the market. For more information about Asterand, go to www.asterand.com


Read at BioSpace.com


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