Directorate Change (8235C)

TIDMNGG

RNS Number : 8235C

NextGen Group PLC

08 May 2012

May 8 2012

Issued by NextGen Group Plc

NextGen appoints new Director to Board

-- Previously helped drive growth of Prometheus to US $519m net sales, enabling successful sale to Nestle Health Science

   --    Appointment includes the purchase of 2.5% of NextGen shares at 100p per share 

NextGen Group Plc (AIM: NGG), the AIM listed biomarker discovery and testing services company, has appointed Lee McCracken, the personalized medicine / life sciences industry veteran, to its Board of Directors with immediate effect. Lee will oversee the strategic development of NextGen as it moves to rapidly expand its efforts in the diagnostics market.

Lee McCracken was previously Corporate Head of Business Development at Prometheus Laboratories, where he helped to drive the company's growth through multiple strategic asset transactions. During his tenure, net sales grew about five-fold, from US $90 million in 2004 to $519 million in 2010.

Prometheus Laboratories, the diagnostic and specialty pharmaceutical company, was successfully sold to Nestle Health Science in 2011, for an undisclosed amount.

Previously, Lee held other life sciences roles as President of GenStar Therapuetics, a biotechnology company and as Managing Director of Allergan subsidiary Pacific Pharma. Lee also has eight years' experience within private equity funding including four years with 3i Group in the US.

NextGen Group Plc ("NextGen") listed on AIM in December 2005. The company has recently announced significant progress in its plans to develop diagnostics with applications to central nervous system disorders such as dementia, multiple sclerosis, Parkinson's disease and traumatic brain injuries.

In March NextGen filed for intellectual property (IP) on several biomarkers that can be used in the diagnosis of patients with early-stage dementia.

Lee McCracken says: "NextGen has positioned itself to make rapid progress in the diagnostics arena. The science and technology foundation is in place and the team is now establishing an impressive track record in the biomarker discovery field. I'm impressed by their scientific discoveries and progress and by their plans for development."

"NextGen is developing an exciting pipeline of projects on a wide range of central nervous system disorders where there is massive market need both within the pharmaceutical development and wider patient healthcare industries. Several of these projects have potential market opportunities that exceed one billion USD."

Lee has bought a 2.5% equity stake in NextGen. Lee purchased 362,340 shares at 100 pence per share.

Klaus Rosenau, Chairman at NextGen says: "Lee has an impressive track record of strategically developing and exploiting growth opportunities, delivering results, and building teams within the biotech space and, in particular, the personalized medicine sector."

"Lee's understanding of and insight into the diagnostic's industry, together with his comprehensive knowledge of what is required to position companies to attract investment, means that we have in place another crucial element to drive our future growth plans."

"His appointment provides a strong vote of confidence in the strategy NextGen has adopted following the operational and strategic restructuring of 2010-2011."

Matters disclosed under paragraph (g) of Schedule 2 ofthe AIM Rules

Lee Roy McCracken, aged 54, is or has been a director or partner of the following companies or partnerships during the previous five years:

 
 Current                Previous 
 
 McCracken Consulting   None 
 

The Company confirms that there are no other matters which are required to be announced with regard to this appointment under paragraph (g) of Schedule 2 of the AIM Rules.

ENDS

Notes to Editors:

NextGen Group Plc (AIM: NGG) is a provider of biomarker services for pharmaceutical and biotech companies globally through its USA-based subsidiary, NextGen Sciences Inc and a developer of diagnostic markers and assays through its second US-based subsidiary, NextGen Sciences Dx. Using advanced techniques, such as Multiple Reaction Monitoring (MRM) mass spectrometry analysis, the Company is developing a portfolio of robust assays for testing clinical samples for drug safety and efficacy, and the development of personalized treatment for patients.

NextGen Sciences Inc is a wholly owned, operational subsidiary of NextGen Group Plc and is headquartered in Ann Arbor, Michigan, USA. NextGen Sciences' range of services, which include biomarker discovery, assay development, validation and testing are employed by its customers as a key part of the biomarker-based drug and diagnostic development process.

NextGen Sciences Dx Inc is a wholly owned, operational subsidiary of NextGen Group Plc and is headquartered in Boston, Massachusetts, USA. NextGen Sciences Dx utilises the expertise of NextGen Sciences Inc to discover biomarkers and develop assays for point-of-care diagnostics, to assist in patient treatment, for selection of patients for clinical trials and to aid decision-making on efficacy determination for therapeutic development.

For further details please contact:

Klaus Rosenau

CEO & Chairman

NextGen Group

Tel: [phone]

Barry McAleer PhD

CEO

NextGen Sciences Inc and NextGen Sciences Dx Inc

Tel: [phone]

Nicola Marrin

Seymour Pierce Limited

Tel: + 44 (0)20 7107 8000

Nick Mattison or Nick Croysdill

Mattison Public Relations

Tel: + 44 (0)20 7645 3636

This information is provided by RNS

The company news service from the London Stock Exchange

END

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