REG - Arecor Therapeutics - Directorate Changes

Arecor TherapeuticsAnnouncement

29/09/2025 07:00

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RNS Number : 1071B  Arecor Therapeutics PLC  29 September 2025

 

Arecor Therapeutics plc

("Arecor" or the "Company")

 

Executive and Non-Executive Board Changes

-    Simon Ormiston, former partner PwC appointed as NED & Chair of
Audit and Risk Committee, taking over from Christine Soden

-      David Ellam, CFO elevated to an Executive Director on the Board

 

Cambridge, UK, 29 September 2025: Arecor Therapeutics plc (AIM: AREC), the
biopharmaceutical company focused on drug development and delivery in diabetes
and other cardiometabolic diseases, announces changes to the Board, including
the appointment of a new Chair to the Audit & Risk Committee and the
elevation of the CFO to Executive Director, with immediate effect.

Simon Ormiston

Simon is a Chartered Accountant and former audit partner at PwC.  He has been
appointed as a Non-Executive Director and the new Chair of the Audit &
Risk Committee. In his c.30 years at PwC, of which more than half was spent as
a partner, he specialised in financial accounting, reporting, auditing and
risk management, focusing on the growth companies in the life sciences and
technology sectors.  He has a strong track record of assisting both private
and public companies to achieve their strategic ambitions, preparing for IPO
and M&A transactions and strengthening governance.  His clients included
those listed on AIM and the main market of the London Stock Exchange, as well
as on other European and US exchanges.

Simon is taking on the Chair of the Audit & Risk Committee from Christine
Soden, who has decided to step down from the Board and the Chair role, as part
of the board succession plan.

David Ellam, CFO

David was appointed as interim CFO in November 2024, became full time CFO in
February 2025 and is now moving onto the Board as Executive Director. He is an
experienced finance professional and chartered accountant, with over two
decades of experience in the life sciences industry. He has held CFO roles at
numerous healthcare companies including Juvenescence, Silence Therapeutics,
and more recently, Sixfold Bioscience. He qualified as a Chartered Accountant
at PwC.

Andy Richards, Chairman of Arecor said:

"I am pleased to welcome the two new members of the Arecor Board, Simon and
David, and give a big thank you to Christine Soden. Chistine joined the Board
at the IPO and has been a major support to the Company ever since. The Board
is grateful for her contribution.

"Simon has had a long career at PwC and his knowledge of the financial
markets, transactions and governance will be very valuable as we continue to
grow Arecor. We also thank him for taking on the Chair position on the Audit
& Risk Committee, an important role, especially in the life sciences
sector. His insight as Arecor pursues its strategy to grow value will be
especially helpful. To date, the Audit & Risk Committee has been ably
overseen by Christine Soden who is now stepping away from Arecor. She will be
missed by us all and we wish her all the best for the future."

"David has played a constructive and positive leadership role within the
executive team at Arecor since he arrived a year ago, working closely with
Sarah to run the day-to-day operations of the Company. Most recently, they
have been working closely together to drive through the major strategic
collaboration with Sequel around AT278 and the monetisation agreement with
Ligand Pharmaceuticals. I look forward to having his broader input at the
Board."

-ENDS-

Photographs are available upon request.

 Simon Ormiston           David Ellam

 Non-Executive Director   CFO and Executive Director

 

Additional Disclosures Required under the AIM Rules for Companies

 

In accordance with Schedule 2(g) of the AIM Rules, David Ellam (aged 62)
currently holds the

following directorships:

 

-      Arecor Therapeutics PLC

-      Arecor Limited

-      Tetris Pharma Ltd

-      Beech Growth Limited

 

Previous directorships held in the past five years:

 

-      Juvenescence UK ltd

-      Relation therapeutics limited

 

Mr Ellam holds 230,000 options under LTIP & ASEOP schemes in the company.

 

Simon Ormiston (aged 52) was a partner at PricewaterhouseCoopers LLP until his
retirement in 2024.

 

Save as disclosed above, there is no further information to be disclosed in
respect of the appointments, pursuant to Rule 17 and Schedule 2 paragraph (g)
of the AIM Rules for companies.

 

 

For more information, please contact:

 

 Arecor Therapeutics plc                                 +44 (0) 1223 426060

Dr Sarah Howell, Chief Executive Officer

David Ellam, Chief Financial Officer                   info@arecor.com

 Singer Capital Markets Advisory LLP (NOMAD and Broker)  +44 (0) 20 7496 3000
 Phil Davies, Sam Butcher

 Vigo Consulting                                         +44 (0) 20 7390 0230
 Melanie Toyne-Sewell, Rozi Morris

                                                         arecor@vigoconsulting.com

 

Notes to Editors

 

About Arecor
Arecor Therapeutics plc is a clinical stage biopharmaceutical company focused
on drug development and delivery in diabetes and other cardiometabolic
diseases. The Company is applying its proprietary technology platform,
Arestat®, to develop a portfolio of proprietary products, as well as working
with leading pharmaceutical and biotechnology companies to deliver enhanced
therapeutic products. Its lead product is AT278, the only ultra-concentrated
(500U/mL) ultra-rapid acting insulin. Arecor is also developing a novel oral
delivery platform for peptides (e.g. GLP-1 receptor agonists) targeting the
obesity and diabetes markets. The Company is listed on AIM (AIM: AREC) and is
based in Cambridge, UK.  For further details please see www.arecor.com
(http://www.arecor.com) .

Arecor® and Arestat® are registered trademarks of Arecor Limited.

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