Destiny Pharma PLC Dr Debra Barker Appointed Interim CEO (5811A)

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RNS Number : 5811A

Destiny Pharma PLC

25 May 2023

Board Changes

Dr Debra Barker Appointed Interim CEO

Brighton, United Kingdom - 25th May 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, ahead of the AGM, that Neil Clark has decided to step down as Chief Executive Officer to pursue new challenges. Neil will also step down from the board with immediate effect.

Dr Debra Barker, who is currently a Non-Executive Director, will become interim CEO until a permanent replacement is appointed. Neil will continue to support the business for a limited period to ensure an orderly handover. Dr Barker has a wealth of experience as a senior executive and Board director in life science companies including the anti-infectives sector having held key roles at Novartis and Polyphor, in addition to roles at Roche, GSK and Polyneuron.

Nick Rodgers, Chairman of Destiny Pharma, said: "Neil's contribution to the Company over the last six years has been significant. Having recently led the exclusive collaboration and co-development agreement for NTCD-M3 with Sebela Pharmaceuticals, raised finance, achieved the publication of landmark XF-73 Phase 2 data, and positive results from the SPOR-COV research, he has decided that it is the right time for him to move on to a fresh challenge. He leaves the business well positioned with a strong balance sheet and a diversified, late-stage pipeline. On behalf of the Board, I want to thank Neil for the commitment he has shown in delivering Destiny's strategy over the last 6 years since he led the IPO of the business in 2017.

"Debra joined Destiny in 2020 and knows the business well. Her experience of working in various roles at big pharma will play an integral part in delivering the next phase of Destiny Pharma's strategy, as we look to maximise the value of our strong product pipeline."

Dr Debra Barker, Interim Chief Executive Officer of Destiny Pharma, said: "The business is well positioned to build on the progress that has been achieved and there are significant opportunities that lie ahead for the Company. My primary focus will be on advancing partnership discussions for XF-73 nasal and I look forward to leading Destiny until the Board appoints a permanent successor to drive the business through its next phase of growth."

For further information, please contact:

Destiny Pharma plc

Dr Debra Barker, CEO

Shaun Claydon, CFO

[phone]

[e-mail]

Optimum Strategic Communications

Mary Clark / Nick Bastin / Jonathan Edwards / Eleanor Cooper

[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]

Dr Debra Barker biography

Dr Barker has worked at Novartis, Roche, GSK (then SmithKline Beecham) and most recently in C-Suite roles at Polyphor and Polyneuron. Dr Barker is currently Senior Independent Director at Arix Bioscience, a global venture capital company and holds additional Non-Executive Director positions at BerGenBio ASA, an immune-oncology company and CureVac AG a clinical stage biopharmaceutical company with a proprietary RNA technology platform. At Novartis Dr Barker held several senior roles including Head of Development for Anti-Infectives, Immunology and Transplantation. Dr Barker was also the medical lead for Swiss based anti-infective specialist Polyphor's highly successful IPO on the SIX Swiss Exchange.

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

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May 25, 2023 02:00 ET (06:00 GMT)