Directorate Change

Instem

29/09/2021 06:59

RNS Number : 2691N

Instem plc

29 September 2021

 

Instem plc

 ("Instem")

 

Appointment of Independent Non-Executive Director

 

Instem plc (AIM: INS), a leading provider of IT solutions to the global life sciences market, announces that it has appointed Riaz Bandali as an independent non-executive director to the Board effective 1 December 2021.  Riaz will also be appointed to the Audit and Remuneration Committees.

 

Riaz has spent his entire career in the healthcare and life sciences industries in a variety of strategic, commercial and operational roles at senior level, also including exposure to fundraising and M&A activity.

 

Riaz is currently CEO of Emerald Health Therapeutics, listed on the Canadian Stock Exchange (CSE: EMH), a role he has held since 2019. Prior to that, Riaz was with Syneos Health for nine years, firstly leading their Early Stage Contract Research Services business then becoming Chief Innovation Officer and more recently as President, Early Phase Development and Translational Sciences, with responsibility for a team of 900 people globally.

 

He started his career in 1994 spending eight years at MDS Capital Corp as a Venture Capital investor, as part of a a $1bn Canadian Health & Life Sciences fund. In 2002, Riaz moved into industry with MDS portfolio company MDS Sciex until 2006, when he moved to MDS Pharma Services (now Celerion), a global clinical pharmacology and bioanalysis business. Between 2008 and 2010, he was Senior Vice President at AB Sciex and Molecular Devices (part of Danaher), leading M&A and key growth strategies.

 

Since mid-2019 Riaz has also been a member of Instem's Client Strategic Advisory Board ("SAB"), a non-remunerated role. This position has provided Riaz with a unique understanding of Instem's business whilst from an objective standpoint. The purpose of the SAB, which meets several times p.a., is to provide third party insight on Instem's business, product and service strategy from both a customer and competitor perspective. Riaz has stepped down from the SAB effective upon his appointment to Instem's Board of Directors.

 

Mr Bandali holds a BSc in Microbiology from the University of British Columbia and an MBA from McGill University. Mr Bandali has also participated in Harvard Business School's Advanced Management Programme.

 

Commenting on the appointment, David Gare, Non-executive Chairman, said: "We are delighted to welcome Riaz to the Board of Instem as an Independent Non-Executive Director ("NED"). Riaz brings with him a wealth of relevant experience and contacts in the North American and wider life sciences industry. He has a broad familiarity with the technical nature of Instem's business as a result of his time spent working in the directly related client domain and on Instem's Client Strategic Advisory Board. This will stand Riaz in good stead to add value to Instem in his new role. We are also continuing with our efforts to identify a further suitable Independent NED candidate and look forward to updating shareholders in due course."

 

Further disclosures pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies:

 

Riaz Amirali Bandali, age 52, is currently or has previously been a director of the following companies within the past five years:

 

Current Directorships
Previous Directorships
Emerald Health Therapeutics Inc.
Syneos Health Clinique, Inc.
Inventiv Health Clinique, Inc.
Pure Sunfarms Corp.

 

Riaz has no beneficial interest in the equity securities of Instem plc.

 

Save as disclosed above, there is no further information to be disclosed pursuant to Schedule Two, paragraph (g) of the AIM Rules for Companies.

 

For further information, please contact:

Instem plc
Via Walbrook
Phil Reason, CEO
Nigel Goldsmith, CFO
Singer Capital Markets (Nominated Adviser & Broker)
+44 (0) 20 7496 3000
Peter Steel
 Alex Bond
 Rachel Hayes
Walbrook Financial PR
+44 (0) 20 7933 8780
Tom Cooper
instem@walbrookpr.com
Nick Rome
Nicholas Johnson


 

About Instem

Instem is a leading provider of IT solutions & services to the life sciences market delivering compelling solutions for Study ManagementRegulatory Submissions, Clinical Trial Acceleration, and Informatics-based Insight Generation.

 

Instem solutions are in use by over 700 customers worldwide, including all the largest 25 pharmaceutical companies, enabling clients to bring life enhancing products to market faster. Instem's portfolio of software solutions increases client productivity by automating study-related processes while offering the unique ability to generate new knowledge through the extraction and harmonisation of actionable scientific information.

 

Instem products and services address aspects of the entire drug development value chain, from discovery through to market launch. Management estimate that over 50% of all drugs on the market have been through some part of Instem's platform at some stage of their development.

 

To learn more about Instem solutions and its mission, please visit  www.instem.com

 

 

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