Appointment of CFO

RNS Number : 0972T

Instem Life Science Systems plc

30 November 2011

 



30 November 2011

Instem Life Science Systems plc

("Instem", or the "Company")

Appointment of CFO

Instem Life Science Systems plc (AIM: INS.L), a leading provider of IT applications to the global early development healthcare market,is pleased to announce that Nigel Goldsmith has been appointed to the Board as Chief Financial Officer, with immediate effect.

Nigel has a wealth of experience in senior financial roles, at both public and private companies within the pharmaceutical industry, including three-years at AIM listed IS Pharma plc.

Nigel's most recent appointment was that of Finance Director & Company Secretary at Eazyfone Ltd, an online mobile phone recycler which was placed 5^th in the Sunday Times' Annual Fast Track Awards (2009) having experienced rapid growth in revenues and profits as well as expanding into Europe.

From 2006-2009, Nigel was the Finance Director at IS Pharma plc (now Sinclair IS Pharma plc, since merging in 2011). During his time at the UK-based pharmaceutical and medical device company, Nigel oversaw two oversubscribed equity fundraisings and completed two corporate acquisitions; one in the UK and one in Switzerland.

After qualifying as a Chartered Accountant, Nigel spent over nine years at KPMG including two years as Senior Manager in Audit, prior to moving into industry.

Posts in industry also include; a seven-year tenure as CFO at Almedica International Inc, a privately held supplier of clinical trial materials to the pharmaceutical and biotech industry in Europe and the US. Whilst at Almedica, the company grew revenues and profits in both its UK and US trading operations prior to a successful disposal in September 2005 to a private equity backed US trade buyer, Aptui tInc, and; two years as European Controller for the sales and marketing division of laboratory equipment manufacturer, Life Sciences International plc.

Phil Reason, CEO of Instem plc, comments "We are confident that Nigel will be a great addition to the Instem team. At a time when we are seeking to be acquisitive Nigel's experience in this area and also of the pharmaceutical industry will be invaluable. I would also like to take this opportunity to thank Non-Executive Director David Sherwin for standing in as Finance Director during the interim period."

Grant of Options

Mr Goldsmith has been granted options over 60,000 ordinary shares of 10p each ("Ordinary Shares"). These options become exercisable after a period of three years, pursuant to the rules of the All Staff LTIP approved by shareholders on 8 October 2010 ("LTIP"). The exercise price of 221.5p represents the closing mid-market price of the Ordinary Shares as at 29 November 2011.

For further information, please contact:

Instem Life Science Systems plc	[phone]
Phil Reason, CEO
Nigel Goldsmith, CFO
Brewin Dolphin -  Financial Advisor, Broker & NOMAD	[phone]
Mark Brady
Sean Wyndham-Quin
Threadneedle Communications	[phone]
Caroline Evans-Jones
Fiona Conroy

Regulatory Information

Nigel John Goldsmith (aged 49) has no current directorships or partnerships. The directorships he has held over the five years preceding the date of this appointment are as follows:

            Eazyfone Limited

            IS Pharma plc

            Speciality European Pharma International AG

            Maelor Laboratories Limited

            Acorus Therapeutics Limited

There are no other matters which are required to be announced as required under paragraph (g) of Schedule 2 of the AIM Rules.

About Instem Life Science Systems plc

Instem (AIM:INS.L) is a leading supplier of IT solutions to the early development healthcare market. Instem's pre-clinical study management solutions accelerate drug and chemical development by increasing productivity, automating processes and enhancing practices that lead to safer and more effective drugs.

In March 2011 Instem acquired BioWisdom Limited, a leading provider of software solutions for extracting intelligence from R&D related healthcare data. The acquisition broadened and strengthened Instem's Centrus™ product suite, accelerating the product development roadmap.

Instem has over 130 customers in North America, Europe, China, India and Japan, including sixteen of the top twenty pharmaceutical and biotech companies such as GlaxoSmithKline and AstraZeneca. The Company employs over 110 people in six offices in the U.S, UK, and China; with additional resource locations in India and a full service distributor in Japan. It is estimated that approximately half of the world's pre-clinical drug safety data has been collected over the last 20 years via Instem software. 

To learn more about Instem please visit the Company's website, www.instem.com, or its investor centre http://investors.instem.com/.

 

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