IXICO plc Board changes (9945J)

TIDMIXI

RNS Number : 9945J

IXICO plc

16 September 2016

IXICO plc

('IXICO' or the 'Company')

Board changes

London, UK, 16 September 2016: IXICO plc (Ticker: IXI), the brain health company, today announces the following changes to the Board, all of which take immediate effect:

Dr Andy Richards has elected to step down from the Board to focus on his other commitments. Andy has been Chairman of IXICO since 2009 and has guided the Company through its formative years. In particular, Andy's vision and enthusiasm for the deployment of technological innovations in the healthcare industry to realise the potential for digital healthcare has been central in developing IXICO into the business it is today.

Charles Spicer has succeeded Andy as Non-Executive Chairman. Charles was an executive Director of IXICO between July 2013 and January 2016 with a focus on corporate strategy. He became a Non-Executive Director of IXICO in January 2016. He has a wealth of experience working for, and as advisor to, public and private companies primarily in the medtech and life science sectors. Charles is currently Chairman of an NIHR Invention for Innovation (i4i) funding panel and is also Non-Executive Chairman of PuriCore Plc, 11 Health & Technologies Limited and Creo Medical Limited.

In addition, Mark Warne joins the Board as a Non-Executive Director. He is Head of the Healthcare division of IP Group Plc (LSE: IPO) which, at the end of December 2015, had shareholdings in 31 companies valued at over GBP275 million. Mark previously acted as the power of attorney for corporate director IP2IPO Services Limited of Optimal Medicine Limited and was instrumental in the sale of the business to IXICO. As part of that acquisition and the participation of IP Group Plc in the financing round completed in December 2015, IP Group has a 20.25% shareholding in the Company. Mark brings a wealth of technology commercialisation experience to support IXICO through its next stage of product development and value creation. Mark has been at IP Group since 2008 and represents it on the boards of several portfolio companies, both quoted and private. He has extensive experience in building and growing healthcare businesses as well as in managing transactions including portfolio company IPOs, financings and M&A.

Mark will join the Remuneration Committee which is chaired by Tim Sharpington and the Audit Committee which is chaired by John Bradshaw.

David Brister, who joined the Board following the acquisition of Optimal Medicine Limited, stepped down as a Non-Executive Director having helped oversee the successful integration of this acquisition.

Derek Hill, Chief Executive Officer of IXICO, said:

"We are grateful to Andy Richards for the huge contribution he has made to IXICO. He set the vision for IXICO's development into a digital healthcare company for brain health, identifying the opportunities to raise growth capital through admission onto AIM in 2013, and the acquisition of Optimal Medicine in 2015."

Mark Warne, Non-Executive Director of IXICO and Head of Healthcare at IP Group plc, said:

"I am excited to be joining the board of IXICO and I see significant potential for it to lead in the CNS and behavioural health fields in the rapidly growing digital health market. Its team is highly respected by industry and government for its brain health specialisation and the Company has some fantastic technologies. I would also like to take this opportunity to thank David Brister for his recent contribution to IXICO and prior contribution as Chairman at Optimal Medicine where IP Group was a shareholder".

Enquiries:

 
 IXICO plc                        [phone] 
 Derek Hill, CEO 
 Susan Lowther, CFO 
 
 Peel Hunt LLP (Nominated 
  Adviser)                        [phone] 
 James Steel / Oliver Jackson 
 
 FTI Consulting Limited 
  (Investor Relations) 
 Simon Conway / Mo Noonan 
  / Matthew Moss                  [phone] 
 
 
 

Additional Information:

The following further information regarding the appointment of Mark Robert Warne, aged 41, is disclosed under Schedule 2(g) and Rule 17 of the AIM Rules for Companies:

   (i)     Mark Warne is currently a director or partner of: 
 
 Capsant Neurotechnologies Limited 
 Cronin Group plc 
 Crysalin Limited 
 Genomics plc 
 hVIVO plc 
 Oxford CADD Limited 
 

(ii) in the last five years, Mark Warne has been but is no longer a director or partner of the following companies or partnerships:

 
 31 Howard Road Management Limited 
 Bristol Innovations Limited 
 Genomics Limited 
 OM France SARL 
 Optimal Medicine Inc. 
 Oxtox Limited 
 

(iii) in the last five years, Mark Warne has acted as a power of attorney for corporate director IP2IPO Services Limited to the following companies:

InhibOx Limited

Optimal Medicine Limited

Activiomics Limited

Ubiquigent Limited

Azellon Limited

Cronin3D Limited

Mode Diagnostics Limited

Mode Health Limited

(iv) Mark Warne holds 4,323 ordinary shares in his own name and has an indirect interest in IP2IPO's and the NETF shareholdings in IXICO plc.

Mark Warne has confirmed that there is no other additional information to be disclosed under Schedule 2 (g) of the AIM Rules.

About IXICO

IXICO's innovative and proprietary digital healthcare technologies help those involved in researching and treating serious diseases to capture and analyse clinical data to make rapid, informed decisions. In clinical research this includes the phenotyping of patients, quantification of disease pathology and measurement of patient outcomes. In clinical practice the mobile health and digital decision support technologies aid diagnosis, patient engagement and monitoring. IXICO is also collaborating with partners to develop companion digital health products targeted at improving patient outcomes.

The Company's brain health focus includes Alzheimer's disease, Huntington's disease, multiple sclerosis, behavioural health, child and adolescent mental health. More information is available on www.ixico.com

This information is provided by RNS

The company news service from the London Stock Exchange

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September 16, 2016 02:00 ET (06:00 GMT)