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LONDON and PHILADELPHIA - Avacta Therapeutics (AIM:AVCT), a company specializing in the development of peptide drug conjugates for cancer treatment, announced today the immediate appointments of David Bryant and Richard Hughes to its board as Non-Executive Directors.
David Bryant brings over three and a half decades of experience in the pharmaceutical industry, having held commercial leadership positions at GSK and Pfizer (NYSE:PFE). He was part of Clinigen Group’s original management team, contributing to its growth until its acquisition for $1.6 billion in 2022. Bryant is currently advising Healthcare Royalty, a private investment firm.
Richard Hughes has a background in UK capital markets, with over 30 years of experience in corporate finance, including involvement with IPOs, equity capital raising, and M&A. He co-founded boohoo.com and was a significant shareholder in Crawford Healthcare, which was acquired by Acelity in June 2018. Hughes is also the founder of Zeus Capital, a financial services group, and sits as a director of Zeus Group.
The appointments come as Avacta shifts its focus to becoming a pure play therapeutics company, aiming to advance its proprietary preCISION® platform, which seeks to deliver anti-tumor drugs more effectively while reducing side effects.
Shaun Chilton, Non-Executive Chairman of Avacta, stated that the addition of Bryant and Hughes to the board is timely and brings valuable expertise in pharmaceutical development and capital markets. This expertise is expected to strengthen the board’s capabilities as the company navigates strategic opportunities to enhance shareholder value.
Both Bryant and Hughes expressed enthusiasm for their new roles, citing the potential of Avacta’s technology and pipeline to impact patient care and create value for shareholders.
This news is based on a press release statement from Avacta Group plc.
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