Allied Minds PLC Directorate Change (0966R)

TIDMALM

RNS Number : 0966R

Allied Minds PLC

19 September 2017

Directorate Change

Allied Minds appoints Harry Rein as an Independent Non-Executive Director

Boston, MA (19 September 2017) - Allied Minds plc (LSE: ALM) today announces the appointment of Harry Rein as an Independent Non-Executive Director.

Harry brings extensive experience from the venture capital sector, most recently serving as General Partner for 10 years at Foundation Medical Partners (Foundation), having been instrumental in its formation. Foundation is an early stage venture capital firm focused on the healthcare sector. Prior to Foundation, Harry served as Founder and Managing Partner at Canaan Partners (Canaan). Harry was responsible for life sciences investments at both Foundation and Canaan. Prior to Canaan Harry was President and CEO of GE Venture Capital Corporation, having joined General Electric Company in 1979. He directed several of General Electric's lighting businesses before joining the venture capital subsidiary.

Peter Dolan, Chairman of Allied Minds, commented "We are delighted to welcome Harry Rein to the Board of Allied Minds. Insights from his distinguished career in the venture capital sector, including at GE Ventures, will be invaluable as management executes against our strategic priorities to accelerate commercialisation and monetisation of our existing portfolio and drive growth from our origination platform."

Harry Rein commented "The Allied Minds model offers a tremendously exciting platform for transforming opportunities created by innovative science sourced from US universities, federal laboratories and corporations into commercial success. I look forward to working with Allied Minds' management and our subsidiaries and applying my experience in venture capital, life sciences and technology to support their activities."

Mr Rein currently serves on the Board of DeliverCareRX and served on the Board of Anadigics (NASDAQ: ANAD) until 2016. He has served on the Board of over 20 public and private entrepreneurial companies, including: Cell Pathways; OraPharma (acquired by Johnson & Johnson); National MD (acquired by GE); OmniSonics; GenVec (NASDAQ: GNVC); CardioNet (NASDAQ: BEAT) and Spine Wave, and was an investor in Praecis Pharmaceuticals (NASDAQ: PRCS).

Mr Rein will join the Board Audit Committee. There are no further details in relation to Mr Rein's appointment which require disclosure pursuant to paragraph 9.6.13 of the Listing Rules of the Financial Conduct Authority.

Mr Rein attended Emory University and Oglethorpe College (1969) and holds a MBA from the Darden School at the University of Virginia (1973).

ENDS

For more information, please contact:

 
 Allied Minds plc                  [phone] 
  Neil Pizey, Head of Corporate     [e-mail] 
  Development 
 FTI Consulting 
  Ben Atwell / Brett Pollard       [phone] 
 

About Allied Minds

Allied Minds plc is an IP commercialisation company focused on technology and life sciences. With extensive access to U.S. federal government laboratories and universities, as well as partnerships with leading U.S. corporations, Allied Minds forms, funds, and operates a portfolio of companies with the objective of delivering successful liquidity events that will generate attractive long-term returns for its investors and stakeholders. Allied Minds supports its businesses with capital, resources, and expertise.

Allied Minds Forward-Looking Statement

This press release contains statements that are or may be forward-looking statements, including statements that relate to Allied Minds' future prospects, developments and strategies. The forward-looking statements are based on current expectations and are subject to known and unknown risks and uncertainties that could cause actual results, performance and achievements to differ materially from current expectations, including, but not limited to, those risks and uncertainties described in the risk factors included in Allied Minds' regulatory filings. These forward-looking statements are based on assumptions regarding the present and future business strategies of Allied Minds and the environment in which it will operate in the future. Each forward-looking statement speaks only as at the date of this press release. Except as required by law, regulatory requirement, the Listing Rules and the Disclosure Guidance and Transparency Rules, neither Allied Minds nor any other party intends to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 19, 2017 02:01 ET (06:01 GMT)