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RNS Number : 1058K Novacyt S.A. 11 April 2024
Novacyt S.A.
("Novacyt", the "Company" or the "Group")
Directorate changes and full year 2023 results update
Lyn Rees appointed CEO
Dr. Joanne Mason, CSO, to join the Board
Paris, France, and Eastleigh and Manchester, UK - 11 April 2024 - Novacyt S.A.
(EURONEXT GROWTH: ALNOV; AIM: NCYT), an international molecular diagnostics
company with a broad portfolio of integrated technologies and services,
announces changes to the Board of Directors. Lyn Rees, Executive Director, has
been appointed Chief Executive Officer and James McCarthy will step down from
the Board as Acting CEO, both effective from 1 May 2024. James will remain
with the Company for a period of time to officiate a smooth transition.
Lyn is a seasoned healthcare executive with over 28 years' global leadership
and commercial experience and a proven track record of successfully
building/scaling companies. He became CEO of Yourgene Health plc in 2018 where
he led the group through four acquisitions and the sale to Novacyt in 2023.
Prior to this, he spent 19 years at British Biocell International (now BBI
Group), nine of which as Group CEO, where he completed and successfully
integrated seven acquisitions.
Additionally, Dr Joanne Mason, the Company's Chief Scientific Officer, will
join the Novacyt Board as an Executive Director effective from 1 May 2024
subject to shareholder approval at the Company's Annual General Meeting and,
Dr Andrew Health, Non-Executive Director will retire from the Board of
Directors effective 1 May 2024.
Joanne is a leading molecular biologist, with over 22 years' experience having
worked in senior positions both in industry and at prominent research
institutes. As Chief Scientific Officer at Yourgene Health, she led the
development of next generation molecular diagnostics. Prior to this, she held
lead scientific roles at Cambridge Epigenetix, Genomics England and Oxford
Biomedical Research Centre. She has also acted as an adviser on a number of
boards and committees, including the DOH Rare Disease Policy board, MHRA
Genomics for Diagnosis forum and UK NEQA. Joanne holds a PhD from the
University of Cambridge in Molecular and Cellular Biology.
Commenting, James Wakefield, Non-Executive Chairman, said: "On behalf of the
Board I would like to thank James and Andrew for their hard work and
significant contribution to the Group, and wish them both well in their future
endeavours. We are delighted to welcome Jo to the Board and Lyn as CEO - they
have been instrumental in the seamless integration of Novacyt and Yourgene and
will be key drivers in the accelerated growth of the enlarged Group portfolio.
Lyn has significant global leadership and commercial expertise, and I am
confident that he is the right person to lead the Group as it continues to
execute its growth strategy and generate value for shareholders."
Commenting, Lyn Rees, Executive Director and incoming CEO, said: "I am excited
to have the opportunity to lead Novacyt in its next stage of development. The
molecular diagnostics market is experiencing rapid growth, driven by the
continued demand for fast and accurate diagnostics and with our strong
portfolio of molecular assays and instruments combined with our leading
expertise I believe we are well placed to capture this. I would like to thank
James for his support since I joined the Company and look forward to working
with the entire team as we continue to deliver our strategy."
FY23 Results Update
Under Euronext Growth reporting requirements, the Company is required to
publish its annual accounts within four months of its year-end.
The publication of the annual results for the year ended 31 December 2023,
initially scheduled for release by 30 April 2024, has been postponed and will
be published by the end of May 2024. This is due to the time required to
integrate the accounts of Yourgene Health, acquired towards the end of the
year, into Novacyt's consolidated results.
Unaudited revenue for FY23 remains in line with the prior guidance at £11.6m.
Further information on Dr Joanne Mason
Dr Joanne Nicola Mason (née Gooch) (aged 49) has held the following
directorships or partnerships in the past five years:
Current directorships/partnerships Previous directorships/partnerships (last five years)
Yourgene Health Limited (formerly Yourgene Health plc)
Yourgene Genomic Services Ltd
Yourgene Health UK Ltd
Dr Mason does not hold any shares in the Company.
Contacts
Novacyt SA https://novacyt.com/investors (https://novacyt.com/investors/)
James McCarthy, Acting Chief Executive Officer Via Walbrook PR
Steve Gibson, Chief Financial Officer
SP Angel Corporate Finance LLP (Nominated Adviser and Broker) +44 (0)20 3470 0470
Matthew Johnson / Charlie Bouverat (Corporate Finance)
Vadim Alexandre / Rob Rees (Corporate Broking)
Deutsche Numis (Joint Broker) +44 (0)20 7260 1000
Freddie Barnfield / Duncan Monteith / Michael Palser
Allegra Finance (French Listing Sponsor) +33 (1) 42 22 10 10
r.durgetto@allegrafinance.com (mailto:r.durgetto@allegrafinance.com) /
Rémi Durgetto / Yannick Petit y.petit@allegrafinance.com
Walbrook PR (Financial PR & IR) +44 (0)20 7933 8780 or novacyt@walbrookpr.com
Stephanie Cuthbert / Paul McManus / +44 (0)7796 794 663 / +44 (0)7980 541 893
Phillip Marriage / Alice Woodings +44 (0)7867 984 082 / +44 (0)7407 804 654
About Novacyt Group (www.novacyt.com (http://www.novacyt.com) )
Novacyt is an international molecular diagnostics company providing a broad
portfolio of integrated technologies and services, primarily focused on the
delivery of genomic medicine. The Company develops, manufactures, and
commercialises a range of molecular assays and instrumentation to deliver
workflows and services that enable seamless end-to-end solutions from sample
to result across multiple sectors including human health, animal health and
environmental.
The Company is divided into three business segments:
Clinical Broad portfolio of human clinical in vitro diagnostic products, workflows and
services focused on three therapeutic areas:
· Reproductive Health: NIPT, Cystic Fibrosis and other rapid aneuploidy
tests
· Precision Medicine: DPYD genotyping assay
· Infectious Diseases: Winterplex, multiplex winter respiratory PCR
panel
Instrumentation Portfolio of next generation size selection DNA sample preparation platforms
and rapid PCR machines, including:
· Ranger® Technology: automated DNA sample preparation and target
enrichment technology
MyGo: real-time quantitative PCR (qPCR) instruments
Research Use Only Range of services for the research industry:
· Design, manufacture, and supply of high-performance qPCR assays and
workflows for use in human health, agriculture, veterinary and environmental,
to support global health organisations and the research industry
· Pharmaceutical research services: whole genome sequencing (WGS) /
whole exome sequencing (WES)
Novacyt is headquartered in Vélizy in France with offices in the UK (in
Stokesley, Eastleigh and Manchester), Taipei, Singapore, the US and Canada and
has a commercial presence in over 65 countries. The Company is listed on the
London Stock Exchange's AIM market ("NCYT") and on the Paris Stock Exchange
Euronext Growth ("ALNOV").
For more information, please refer to the website: www.novacyt.com
(http://www.novacyt.com)
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