Leadership Change to Spur Next Phase Development?

Following the departure of Director and non-executive Chairman Iain Ross from its drug discovery and development operations (June1), RedX Pharma initiated the search for a new candidate and also confirmed the appointment of Peter Presland, Independent non-executive Director and Chairman of the Audit Committee, as interim Chairman with immediate effect.  

Mr Ross stepped down from his role with RedX, focused on novel targeted medicines for the treatment of cancer and fibrosis, to pursue other business opportunities; further announcements on his replacement will follow after a candidate selection process, the company confirmed.

Company in strong position with supportive investors

Chief executive officer and director Lisa Anson said; “Iain has been the lynchpin in the turnaround of Redx and we are very grateful for his innumerable contributions as Chairman over the last four years. It is as a direct result of his strong oversight, counsel and expertise that Redx is now in a strong position, with supportive specialist life science investors for the next phase of the Company’s evolution. Personally, I would like to recognise his contribution and thank him for all that he has done, and on behalf of the Board wish him every success in his future endeavours.”

Former Non-Executive Chairman Iain Ross of Redxcommented; “It has been a privilege and pleasure to have chaired the Redx Board through the challenges of the last four years and I leave the Company well financed, with an exciting product pipeline; a strong management team and a high-quality shareholder base. I believe my job is done and I am planning to take on a new role within the sector. I wish the Company well and will remain a supportive shareholder.”

 For the purposes of MAR, the person responsible for arranging for the release of this announcement on behalf of Redx was Andrew Booth, Company Secretary.

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