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PARIS & CAMBERLEY, England, July 29, 2021--(BUSINESS WIRE)--Regulatory News:
Novacyt (EURONEXT GROWTH: ALNOV; AIM: NCYT) ("Novacyt", the "Company" or the "Group"), a leading international specialist in clinical diagnostics, announces the appointment of David Allmond as CEO and a member of the Board of Directors effective from 18 October 2021. At that time Graham Mullis, having informed the Board that he wishes to retire after 13 years with the expanded Group, will stand down as CEO and board member.
David, aged 51, brings relevant leadership experience in life science companies experiencing significant development and growth, and developing businesses into new global markets. Currently he is Chief Business Officer at Amryt Pharma (Nasdaq: AMYT, AIM: AMYT), where he has played a key role in developing the company into a leading global rare and orphan disease drug company. Earlier in his career David held sales and marketing roles of increasing seniority at Amgen, Celgene, and Aegerion Pharmaceuticals. David received a BSc in microbiology from Imperial College. David will be supported by Novacyt’s recently strengthened executive management team.
Graham will be retiring after 13 years with the wider business, both as CEO of Novacyt and formerly CEO of Lab21, which was acquired by the Group in 2014. Graham is committed to ensuring a smooth transition with David and will continue to lead the Group as CEO until David joins the Company.
James Wakefield, Chairman of Novacyt, added:
"The Board is highly confident that, after an extensive search, we have found the right leader for Novacyt’s next chapter of growth, following Graham’s decision to retire. We look forward to working with David and the recently strengthened senior management team to deliver on the Company’s strategy of organic, R&D and acquisitive growth that we recently reiterated at our full year results.
"The Group owes Graham a huge debt of gratitude for his hard work, determination and leadership. He leaves a legacy of having created one of the UK’s leading diagnostic businesses and should be proud of the role the Company has played, and continues to play, in supporting nations and businesses in their response to the COVID-19 pandemic."
David Allmond, CEO-elect of Novacyt, commented:
"I am excited to be joining Novacyt at a pivotal phase in its development and I am looking forward to building upon Graham’s outstanding work with the business over the past 13 years. Novacyt is poised for its next phase of growth and I am confident I can lead the Company effectively through this period, working closely with the excellent management team and Board to make a significant contribution to global health and deliver sustained and ongoing value to our shareholders."
Graham Mullis, CEO of Novacyt, commented:
"It has been, and remains, a privilege to have led and worked with the exceptional team at Novacyt. The Company is far more than the success it has enjoyed during the last 18 months as we have played an important part in responding to the COVID-19 pandemic. I believe the Company has the right foundations and culture in place to deliver on its strategy that will enable it to cement its position as a leading specialist diagnostics business. It is therefore with great pride that I hand over leadership of the Company to David, confident in his abilities to take the Company forward to even greater successes.
"Finally, I would like to thank the Board and all my colleagues for their advice and support over the years. I look forward to watching Novacyt continue on its exciting journey."
David’s position on the board of Novacyt will be proposed for ratification by shareholders at the Company’s 2022 Annual General Meeting.
The information required by Rule 17 and paragraph (g) of Schedule 2 of the AIM Rules for Companies in relation to the appointment of David James Allmond (age 51) is as follows:
Past directorships held within last five years
Aegerion Pharma Ltd
Amryt Pharma Italy SRL
Peppered Moth Marketing Limited
There are no other disclosures required in accordance with Schedule 2(g) of the AIM Rules.
About Novacyt Group
The Novacyt Group is an international diagnostics business generating an increasing portfolio of in vitro and molecular diagnostic tests. Its core strengths lie in diagnostics product development, commercialisation, contract design and manufacturing. The Company's lead business units comprise of Primerdesign and Lab21 Products, supplying an extensive range of high-quality assays and reagents worldwide. The Group directly serves microbiology, haematology and serology markets as do its global partners, which include major corporates.
For more information, please refer to the website: www.novacyt.com
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Graham Mullis, Chief Executive Officer
James McCarthy, Chief Financial Officer
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Vadim Alexandre / Rob Rees (Corporate Broking)
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