Appointment of new Chairman

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
[phone]
[e-mail]

Powerscourt
Sarah Macleod / Adam Michael / Ibrahim Khalil / Christopher Ward
[phone]
[e-mail]

finnCap Ltd (Nominated Advisor and Joint Broker)
Geoff Nash / George Dollemore, Corporate Finance
Alice Lane / Nigel Birks / Harriet Ward, ECM
[phone]

Shore Capital (Joint Broker)

Daniel Bush / James Thomas / Lucy Bowden

[phone] 

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

 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 iPulse Direct Limited iPulse Limited Juno Capital Partners LLP LCIP 2007 LLP LCIP 2009 LLP LCIP 2010 LLP Loch Lomond Golf Club Limited Rother House Finance Limited Rudd & Son LLP Sappi Limited	BGF Group plc Destiny Pharma PLC JCCIP LLP Juno Capital (FP) LLP Juno Capital (GP) LLP Juno Capital LLP Meggitt PLC Pacarula Limited Signature Aviation 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.

 

END