Microsaic Systems plc Appointment of CEO (6391R)

TIDMMSYS

RNS Number : 6391R

Microsaic Systems plc

25 September 2017

25 September 2017

Microsaic Systems plc

("Microsaic", "Microsaic Systems" or the "Company")

Appointment of Chief Executive Officer

Microsaic Systems plc (AIM: MSYS), the developer of chip-based mass spectrometry ("MS") instruments is pleased to announce that it has appointed Glenn Tracey to the position of Chief Executive Officer (CEO), with immediate effect.

Glenn joined the Company in March 2015 as Chief Operating Officer and was appointed to the Board of Directors in December 2015. Glenn has 20 years of experience in product marketing and research and development, for both small and large companies in the healthcare technology industry, including PerkinElmer where he was central to the development, scale-up and commercialisation of disruptive sensing and detection technologies across multiple emerging application areas.

Eric Yeatman, Interim Chairman, commented:

"The Board is delighted to appoint Glenn as CEO. He has been a critical member of the management team since he joined the Company, and has been instrumental in developing and executing our revised strategy focusing on life sciences. This appointment recognizes his increasing leadership role, and the Board's full confidence in both our strategic direction and our executive team."

Glenn Tracey commented:

"Microsaic is transforming bio-molecular detection by bringing its unique technology to alleviate some of the biggest challenges facing biopharma today, including the development and production, or bioprocessing, of biologics.

"Looking ahead, an increasing trend towards personalized medicine presents longer-term opportunities in diagnostics where rapid and accurate, point-of-care bio-molecular detection will be essential to determining the right treatment for patients. These are major challenges for healthcare, where we believe our technology can have an important benefit.

"I am delighted to have the opportunity to lead the Company through this exciting new phase in our development."

This announcement is released by Microsaic Systems plc and contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) 596/2014 ("MAR"), encompassing information relating to the CEO appointment described herein, and is disclosed in accordance with the Company's obligations under Article 17 of MAR.

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of the Company by Bevan Metcalf, Finance Director.

 
  Enquiries: 
 Microsaic Systems plc 
  Glenn Tracey, CEO 
  Bevan Metcalf, FD                 [phone] 
  N+1 Singer (Nominated Adviser 
   & Broker) 
   Shaun Dobson 
   Liz Yong                         [phone] 
 Citigate Dewe Rogerson 
  (Financial PR) 
  Mark Swallow 
  Shabnam Bashir                    [phone] 
 

About Microsaic Systems

Microsaic Systems plc (AIM: MSYS) is a high technology company developing chip-based, bench-top and point-of-analysis mass spectrometry ("MS") instruments that are designed to improve the efficiency of pharmaceutical R&D. The Company is working with established global life science companies to co-develop new solutions to improve productivity in the development of small molecule and novel biologic (peptides, antibodies) medicines. MS is a powerful method of analysis to enable earlier decision making relating to product identification, purity and bioactivity, and is the analytical technique of choice for biochemists across many industry sectors.

Microsaic's core product, the 4000 MiD(R), is one of the smallest MS systems in the world, retaining the functionality of larger conventional MS systems, is easier to use by non-specialists, consumes less energy and has lower running costs. For more information, please go to www.microsaic.com.

This information is provided by RNS

The company news service from the London Stock Exchange

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September 25, 2017 02:01 ET (06:01 GMT)