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19-Feb-2019

Arix Bioscience plc: Management and Board Changes

LONDON, February 19, 2019 /PRNewswire/ --

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION WITHIN THE MEANING OF THE EU MARKET ABUSE REGULATION NO.596/2014

Joe Anderson appointed as CEO  

Arix Bioscience plc (LSE: ARIX) ("Arix" or the "Company"), a global healthcare and life science company supporting medical innovation, today announces that Chief Investment Officer, Joe Anderson, has been reappointed as Chief Executive Officer and will re-join the Arix Board.

Jonathan Peacock, Executive Chairman, will become Non-Executive Chairman and Sir Christopher Evans will retire from the Board, remaining a consultant to the Company. These changes will take place with immediate effect, recognising the continued strong performance of the portfolio and pipeline development.

Jonathan Peacock, Chairman of Arix Bioscience, commented: 

"Arix has rapidly built a strong, diverse portfolio and a top tier investment team who continue to build value, both in our portfolio companies and for our shareholders. We have benefited from Joe's focus as CIO over the recent months and the changes announced today build on this and reflect a clear shift towards a leaner organisation that will continue to drive the Company's strong growth."

Joe Anderson, Chief Executive Officer of Arix Bioscience, commented: 

"Arix has a great future ahead and I appreciate this opportunity to lead the organisation through its next stage of growth.  We have a highly talented investment team and part of my role will be to focus resources on this aspect of our business and reduce our cost structure elsewhere. Our core value is in the portfolio of companies we have built, and continue to build. We have seen rapid growth in our net asset value and we are confident that this will convert into value for shareholders, whilst the pipeline of new opportunities remains strong. I appreciate the confidence placed in me by the Board to lead this exceptional organisation as we continue to deliver on our strategy."

Sir Chris Evans, commented:  

"It has been rewarding to see Arix develop such a high-quality team and portfolio of innovative companies, led by some of the most successful scientists and entrepreneurs in biotech. The completion of a three-year term as a director is an appropriate time for me to retire from the board. As a founder of the company, committed shareholder and continued adviser I will continue to support Arix and look forward to seeing it grow under Joe's leadership and most importantly to realise the potential value of its portfolio and platform."

About Arix Bioscience plc 

Arix Bioscience plc is a global healthcare and life science company supporting medical innovation. Headquartered in London and with an office in New York, Arix Bioscience sources, finances and builds world class healthcare and life science businesses addressing medical innovation at all stages of development. Operations are supported by privileged access to breakthrough academic science and strategic relationships with leading research accelerators and global pharmaceutical companies.

Arix Bioscience plc is listed on the Main Market of the London Stock Exchange. For further information, please visit http://www.arixbioscience.com

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Last Updated: 19-Feb-2019