REG - Destiny Pharma PLC - Appointment of new Chairman

Destiny PharmaAnnouncement

25/07/2023 07:00

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RNS Number : 0194H  Destiny Pharma PLC  25 July 2023

Destiny Pharma plc

("Destiny Pharma" or "the Company")

Appointment of new Chairman

 

Brighton, United Kingdom - 25 July 2023: Destiny Pharma plc (AIM: DEST), a
clinical stage innovative biotechnology company focused on the development of
novel medicines that can prevent life-threatening infections, today announces
that Sir Nigel Rudd will be returning as Company Chairman, effective
immediately.

 

Sir Nigel has an impressive track record in creating value for shareholders in
a variety of business sectors. He has chaired the Business Growth Fund
(supporting growth in many SMEs), Heathrow, Alliance Boots, Signature,
Pilkington, Meggitt, and a number of other major companies. He was also Deputy
Chairman of Barclays Bank for a number of years. Sir Nigel was previously
Chairman of Destiny from 2010 to 2018 and led its flotation on the London AIM
market.

 

His appointment follows the announcement of 19 July 2023, that the Company has
appointed Chris Tovey as Chief Executive Officer, who will join the company on
1 September 2023. Interim CEO Debra Barker will return to her position as
Non-Executive Director.

 

Returning Chairman Sir Nigel Rudd said: "My confidence in Destiny can be
traced back 20 years to my first investment in the business. It is with great
pleasure that I can return to the Company at such an exciting time, as we move
towards the commercialisation of our products. Our recent market research is
indicating that there is a blockbuster, $2bn plus opportunity with the XF-73
programme in the US alone. And our NTCD-M3 programme is Phase 3 ready, with
the clinical development and regulatory investment required, coming from our
partner Sebela."

 

Interim CEO, Dr Debra Barker said: "Sir Nigel is rejoining the Board at a
critical juncture in the Company's journey, as we accelerate progress towards
the commercialisation of our product pipeline. Sir Nigel's broad experience,
alongside incoming CEO Chris Tovey's biotech, transactional and dealmaking
experience, establishes a robust Board capable of delivering on Destiny's
commercial objectives, and realising the inherent value of our products. I
look forward to working alongside them both."

 

For further information, please contact:

 

Destiny Pharma plc
Dr Debra Barker, Interim CEO

Shaun Claydon, CFO

+44 (0)1273 704 440
pressoffice@destinypharma.com (about%3Ablank)

 

Powerscourt
Sarah Macleod / Adam Michael / Ibrahim Khalil / Christopher Ward

+44 (0) 20 7250 1446
destiny@powerscourt-group.com (mailto:destiny@powerscourt-group.com)

 

finnCap Ltd (Nominated Advisor and Joint Broker)
Geoff Nash / George Dollemore, Corporate Finance

Alice Lane / Nigel Birks / Harriet Ward, ECM

+44 (0) 20 7220 0500

 

Shore Capital (Joint Broker)

Daniel Bush / James Thomas / Lucy Bowden

+44 (0) 207 408 4090

 

About Destiny Pharma

Destiny Pharma is a clinical stage, innovative biotechnology company focused
on the development of novel medicines that can prevent life-threatening
infections. Its pipeline has novel microbiome-based biotherapeutics and XF
drug clinical assets including NTCD-M3, a Phase 3 ready treatment for the
prevention of C. difficile infection (CDI) recurrence which is the leading
cause of hospital acquired infection in the US and also XF-73 nasal gel, which
has recently completed a positive Phase 2b clinical trial targeting the
prevention of post-surgical staphylococcal hospital infections including MRSA.
It is also co-developing SPOR-COV, a novel, biotherapeutic product for the
prevention of COVID-19 and other viral respiratory infections and has earlier
grant funded XF research projects.

For further information on the company, please visit www.destinypharma.com
(http://www.destinypharma.com/)

 In accordance with Schedule 2(g) of the AIM Rules, Anthony Nigel Russell
Rudd, aged 76, holds or has held, within the last five years, the following
directorships and partnerships:

 

 Current directorships/partnerships  Past directorships/partnerships
 Coleman Investments Limited         BGF Group plc

 iPulse Direct Limited               Destiny Pharma PLC

 iPulse Limited                      JCCIP LLP

 Juno Capital Partners LLP           Juno Capital (FP) LLP

 LCIP 2007 LLP                       Juno Capital (GP) LLP

 LCIP 2009 LLP                       Juno Capital LLP

 LCIP 2010 LLP                       Meggitt PLC

 Loch Lomond Golf Club Limited       Pacarula Limited

 Rother House Finance Limited        Signature Aviation Limited

 Rudd & Son LLP

 Sappi Limited

At the date of this announcement, Sir Nigel Rudd has an interest in 2,414,608
ordinary shares representing 2.53% of the total voting rights of the Company.

 

There is no further information disclosable in respect of Sir Nigel Rudd
pursuant to Schedule 2(g) of the AIM rules for companies.

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