Vectura Group plc Appoints Neil Warner as Non-Executive Director and Chair of the Audit Committee
Neil Warner, aged 57, was Finance Director of Chloride Group PLC for nearly 14 years, over which time the value of the company grew over 10 fold, culminating in its £1 billion acquisition by Emerson Electric Co. in September 2010. Neil is the Senior Independent Director and Chair of the Audit Committee of Dechra Pharmaceuticals PLC and replaces Dr. John Brown as Chair of Vectura’s Audit Committee. John remains Vectura’s Senior Independent Director and Chair of the Nomination Committee.
Neil’s career includes senior roles in finance and commerce at Exel PLC (formerly Ocean Group PLC and acquired by Deutsche Post in December 2005), Balfour Beatty plc and PriceWaterhouseCoopers.
Vectura’s Chairman, Jack Cashman, said,
“The Board is delighted that Neil has accepted the position of Non-Executive Director and Chair of the Audit Committee and we look forward to working with him at this key stage in the Company’s development as we move closer to becoming a sustainably cash generative and profitable company.”
There are no other matters requiring disclosure in respect of Mr Warner's appointment under Listing Rule 9.6.13 of the Listing Rules of the UK Listing Authority.
Enquiries Vectura Group plc +44 (0)1249 667700 Chris Blackwell, Chief Executive Anne Hyland, Chief Financial Officer Julia Wilson, Director of Investor Relations
Financial Dynamics +44 (0)20 7831 3113 Ben Atwell Susan Quigley
About Vectura
Vectura Group plc develops inhaled therapies principally for the treatment of respiratory diseases. Vectura’s main products target diseases such as asthma and chronic obstructive pulmonary disease (COPD), a growing market that is currently estimated to be worth in excess of $25 billion. Vectura also develops products for other lung pathologies and non-respiratory diseases.
Vectura has six products marketed by its partners and a portfolio of drugs in clinical and pre-clinical development, some of which have been licensed to major pharmaceutical companies. Vectura seeks to develop certain programmes itself where this will optimise value. Vectura’s formulation and inhalation technologies are available to other pharmaceutical companies on an out-licensing basis where this complements Vectura’s business strategy.
Vectura has development collaborations and licence agreements with several pharmaceutical companies, including Novartis, Sandoz (the generics arm of Novartis), Baxter, GlaxoSmithKline (GSK) and Otsuka. For further information, please visit Vectura’s website at www.vectura.com.
Forward-looking Statements This press release contains forward-looking statements, including statements about the discovery, development and commercialisation of products. Various risks may cause Vectura’s actual results to differ materially from those expressed or implied by the forward- looking statements, including: adverse results in clinical development programmes; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.