Vectura Group plc Board Change
Chippenham, UK – 21 May 2013: Vectura Group plc (“Vectura”; LSE: VEC), announces that, after 11 years as Chief Financial Officer (CFO), helping to list Vectura on the London Stock Exchange and contributing to the growth of the Company, Anne Hyland is stepping down from her Board position and as CFO and Company Secretary at the end of June. Paul Oliver, currently Financial Controller, will be appointed to the Board as CFO and Company Secretary from July 1, 2013.
Anne has played a central role in the formation of Vectura's new venture in China, Tianjin Kinnovata Pharmaceutical Company Limited (“Kinnovata”), which was announced on May 13, 2013. Anne will continue to have an involvement with Kinnovata.
Paul joined Vectura in 2006 and has managed Vectura’s finances for the last seven years. In his role as Group Financial Controller, Paul has worked closely with Anne, Vectura’s Leadership Team and the Board on all aspects of Vectura’s operations and strategy development. Prior to joining Vectura, Paul worked in professional practice and is a Fellow of the Association of Chartered Certified Accountants. There is no further information required to be disclosed pursuant to LR 9.6.13.
Jack Cashman, Chairman of Vectura, commented:
“On behalf of the Board, I thank Anne for her considerable contribution to the transformation of Vectura over the last eleven years, most recently her central role in the establishment of Kinnovata. Since 2002, Vectura has grown from a small business with a limited pipeline into a leading developer of inhaled therapies, substantial revenues and strong cash resources. We are fortunate and pleased to be able to appoint Paul Oliver, a well-qualified internal successor to Anne, and look forward to working with Paul on Vectura’s continued success.”
Enquiries
Vectura Group plc +44 (0)1249 667700
Chris Blackwell, Chief Executive
Karl Keegan, Corporate Development Director
FTI Consulting +44 (0)20 7831 3113
John Dineen / Ben Atwell / Simon Conway
About Vectura
Vectura Group plc and its subsidiaries (“Vectura” or the “Group”) is a product development company that focuses on the development of pharmaceutical therapies for the treatment of airway diseases. This growing market includes asthma and chronic obstructive pulmonary disease (COPD) and is estimated to be worth in excess of $30 billion worldwide.
Vectura has seven products marketed by its partners and a portfolio of drugs in clinical development, a number of which have been licensed to major pharmaceutical companies. Vectura has development collaborations and licence agreements with several pharmaceutical companies, including Novartis, Sandoz (the generics arm of Novartis), Baxter, GlaxoSmithKline (GSK) and Tianjin King York Group Company Limited (KingYork).
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. 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 forwardlooking 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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