Business
Directorate Changes and new Advisory Board
Directorate Changes and new Advisory Board.
About this update from Valirx Plc
[{"type":"text","content":"\n\n \nValiRx PLC\n(\"ValiRx\" or the \"Company\")\n \nDirectorate Changes and Formation of new Advisory Board\nLondon, UK - ValiRx Plc (AIM: VAL), a life sciences company focusing on early-stage cancer therapeutics and women's health, announces the resignation of Adrian de Courcey from its Board of Directors and that Cathy Tralau-Stewart has agreed with the Board to transition to a role as Non-Executive Director of the Company. The Company also announces the formation of its new Advisory Board which will replace its current Scientific Advisory Board.\nDirectorate Changes\nCathy Tralau-Stewart, Chief Scientific Officer and Director of the Company, has agreed with the Board to transition to a role as Non-Executive Director of the Company with immediate effect. Cathy will be appointed as Chair of the new Advisory Board set up to deliver Scientific, Commercial and Strategic Advice to the Company. Adrian de Courcey has informed the Board that he has resigned as Non-Executive Director of the Company with immediate effect, to focus on other opportunities.\nDuring her tenure as our fractional CSO, Cathy has been instrumental in developing ValiRx's pipeline strategy, identifying, reviewing and advising on a series of Evaluation and In-licensing options. Cathy brings a wealth of experience in drug development as well as industry contacts and recognition which ValiRx wishes to retain.\nDuring Adrian's tenure as a ValiRx Non-Executive Director, he has helped the Company navigate a major strategic and organisational overhaul with the new management team to achieve significant operational efficiencies and reduce cash burn.\nThese changes at the Board level form part of implementing a significant restructure and reduction in headcount across the Company As part of the restructure, the Company has hired a new, full time, Director of Research (non-board role), Michelle Barnard, who brings over 10 years' experience as a Senior Scientist specialising in Oncology Biology at Cancer Research Horizons and in Drug Discovery at the University of Graz prior. The Inaphaea team will also be supported by a specialist technician. These changes are expected to reduce annual costs by approximately £200,000.\nNew Advisory Board\nValiRx has also assembled a range of experts to establish its new Advisory Board (\"AB\"). The initial members of the AB, i...