Board Changes
Physiomics plc (AIM: PYC), the oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions, announces changes to its board of directors. The Company is pleased to announce that Dr Jim Millen has been appointed Non-Executive Chairman and Dr Peter Sargent, currently Chief Operating Officer, has been appointed as Chief Executive Officer and a director of the Company with immediate effect.
Dr Sargent joined the Company in September 2023 as Chief Operating Officer and has quickly proved invaluable in helping to drive the Company’s business development agenda, supporting the technical team and developing our overall strategy. He has worked closely with Dr Millen over the last five months and has already taken on responsibility for many of the activities that will be at the core of his new, expanded role. Dr Millen will remain closely involved with the Company as Non-Executive Chairman and will be available as needed to provide additional support to the executive team during the transition period and on an ongoing basis.
Dr Jim Millen has acted as Executive Chairman and Chief Executive Officer of Physiomics since February 2022, and the changes announced today, together with the appointment of two Non-Executive Directors in 2022, completes a restructuring of the leadership team which the Board believes provides a strong platform for the growth of the business and more closely aligns the structure of the Board with the guidelines of the QCA Corporate Governance Code.
Dr Jim Millen and Dr Pete Sargent will provide a brief update on these Board changes via Investor Meet Company on 29 January 2024 at 1:00 pm GMT, during which they would be happy to take questions relating to the changes announced today. The presentation is open to all existing and potential shareholders. Questions can be submitted pre-event via your Investor Meet Company dashboard up until 9:00 am GMT the working day before the meeting or at any time during the live presentation. Investors can sign up to Investor Meet Company for free and add to meet Physiomics plc via: https://www.investormeetcompany.com/physiomics-plc/register-investor. Investors who already follow the Company on the Investor Meet Company platform will automatically be invited.
Dr Jim Millen, Chairman, commented:
“Since joining the Company last September, Pete has demonstrated to me and the Board that he has the skills, experience, attitude and vision to help us achieve our strategic goals. I look forward with optimism to what we can achieve under Peter’s executive leadership and to continuing to work closely with him in our new roles.”
Dr Peter Sargent, CEO, commented:
“I am thrilled to take on the role of CEO and director of Physiomics. Having had time to get to know the business and meet many of our clients and partners over these last few months, I can see many exciting opportunities ahead for us. I look forward to speaking to shareholders next week and over the course of 2024.”
Further information on Dr Sargent:
Prior to joining Physiomics in September 2023, Dr Sargent held a senior management role at global consultancy business Syneos Health Inc (NASDAQ: SYNH), leading large teams of professionals and servicing a variety of clients in the biopharmaceuticals space. Among his other previous roles, Dr Sargent has also been Head of Business Development for the UK’s National Institute for Health and Care Research (NIHR), leading a team supporting global life science businesses access to funding and research infrastructure in the UK.
The following details in relation to the appointment of Dr Sargent are disclosed in accordance with AIM Rule 17 and Schedule 2(g) of the AIM Rules:
Peter Joseph Sargent (aged 45) has not held any directorships and/or partnerships in the past five years.
There is no further information to be disclosed in relation to Dr Sargent’s appointment pursuant to AIM Rule 17 or Schedule Two, paragraph (g) (i)-(viii) of the AIM Rules for Companies.
Enquiries:
Physiomics plc
Dr Jim Millen, CEO
+44 (0)1865 784 980
Hybridan LLP (Broker)
Claire Louise Noyce
+44 (0) 203 764 2341
Strand Hanson Ltd (NOMAD)
James Dance & James Bellman
+44 (0)20 7409 3494
This announcement is released by Physiomics plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 (MAR), and is disclosed in accordance with the Company’s obligations under Article 17 of MAR.
Notes to Editor
About Physiomics
Physiomics plc (AIM: PYC) is an oncology consultancy using mathematical models to support the development of cancer treatment regimens and personalised medicine solutions. The Company’s Virtual Tumour™ technology uses computer modelling to predict the effects of cancer drugs and treatments to improve the success rate of drug discovery and development projects while reducing time and cost. The predictive capability of Physiomics’ technologies have been confirmed by over 100 projects, involving over 50 targets and 75 drugs, and has worked with clients such as Merck KGaA, Astellas, Merck & Co and Bicycle Therapeutics.