The business strategy is based on funding and building game-changing healthcare technology companies towards value inflection points and eventual exit including through a trade sale or public listing.
The Group sources opportunities from global institutions, leading technology incubators and its deep healthcare network. In the early stages of the company’s development the Group provides extensive management support including technical guidance, administrative support, legal, IP and commercial expertise.
As companies mature through key milestones the Group will recruit experienced industry leading CEOs to drive the next phase of growth, attract additional external capital and secure favourable exits.
The Group aims to grow the equity value of its interests in its portfolio companies through various key value inflection points such as clinical trials, regulatory approvals, collaborative funding arrangements, first revenues and follow-on growth. In turn, these value inflection points create exit or out-licensing opportunities for the Group through trade sales, licensing arrangements with larger market participants or IPOs.
Sir Richard Sykes, FRS
Sir Richard Sykes, Non-Executive Chairman of the Group, joined NetScientific in 2008. Sir Richard spent thirty years working in the biotechnology and pharmaceutical industries, including at Glaxo plc (subsequently Glaxo Wellcome plc), where he served as Chairman and CEO from 1995 to 2000, and then GlaxoSmithKline plc, where he served as Chairman until 2002. Sir Richard was also Senior Independent Director and Chairman of Eurasian Natural Resources Corporation from 2007 to 2011, Chairman of NHS London from December 2000 to 2010, Rector of Imperial College from 2000 to 2008 and a Non-Executive Director of Rio Tinto plc from 1997 to 2007. He holds a BSc in Microbiology from the University of London, a PhD in Microbial Biochemistry from Bristol University and a DSc from the University of London.
In 1994, Sir Richard received a knighthood for services to the pharmaceutical industry. In 2004, he was awarded Honorary Citizenship of Singapore for his contribution to the development of the country’s biomedical sciences industry.
Currently, Sir Richard is a Fellow of the Royal Society and Academy of Medical Sciences, Imperial College London, Imperial College School of Medicine and King’s College London and an Honorary Fellow of the Royal Academy of Engineering, Royal Society of Chemistry, Royal Pharmaceutical Society, Royal College of Pathologists, Royal College of Physicians, the University of Wales and the University of Central Lancashire.
CHIEF EXECUTIVE OFFICER, CHIEF FINANCIAL OFFICER & COMPANY SECRETARY
Ian Postlethwaite, Chief Executive Office, Chief Financial Officer & Company Secretary, joined NetScientific in June 2016.
He brings over 14 years of biopharma experience and a proven track record of driving revenue growth and funding development programs. He has broad experience in both private and public companies; from start-ups to multi-nationals.
He was previously an Executive Director on the board of Allergy Therapeutics Plc. He joined Allergy in April 2002 as Finance Director whilst it was private company, initially performing a financial turnaround and then listing it two years later in 2004 on the AIM of the London Stock Exchange. Revenue increased from £12 to c.£49m over his tenure and he raised £107m through equity issues and €40m through debt finance to fund over 15 clinical studies.
Prior to this he worked for Ellerman Investments (1997-2002), a UK private equity house, undertaking the roles of Chief Executive Officer with AFS, which was one of the largest independent finance houses in the UK, raising over £400m in debt finance, and Finance Director with a number of successful start-up technology companies. Previously he held senior finance positions with Ericsson and Philips Electronics.
He is also a non-executive director and Deputy Chairman of Shoreham Port. He is a Fellow of the Chartered Association of Certified Accountants and has a BSc (Hons) in Geological Sciences from Aston University.
Barry W Wilson, Non-Executive Director, joined the NetScientific Board in 2013. Barry is an international executive with 40+ years of experience in both the pharmaceutical and medical device industries.
He has served as the President of Medtronic International, President of Lederle International prior to its merger with Wyeth, and President of Bristol-Myers Squibb Europe. Additionally he had 9 international assignments with Pfizer. Barry serves on the Board of Welch Allyn and Anecova. He is a member of the Thematic Advisory Board of Lombard Odier Private Bank.
Barry advises several Venture Capital organisations/start-ups. He worked with DLJ Credit-Suisse Alternative Investments as their Healthcare Advisor and served on the boards of Mallinckrodt Inc, Bausch + Lomb (both NYSE) and Rezidor Hotel Group AB (Swedish stock exchange).
Professor Stephen Smith
Professor Stephen Smith, Non-Executive Director, joined the NetScientific Board in 2016.
Stephen has held senior leadership roles in the NHS and academia. He has had a long and distinguished career as a clinician scientist, Head of Department, Dean and CEO.
His name is associated with the Medical Research Council, University of Cambridge, Imperial College, London and Imperial College Healthcare NHS Trust.
He was responsible for the largest merger in the NHS, the creation of the UK’s first Academic Health Science Centre in 2007. The merger brought together four London based NHS Trusts and ultimately led to the creation of Imperial College Healthcare NHS Trust, where Stephen served for four years as the first CEO. He also retained his position as Dean of the Faculty of Medicine at Imperial College, London and was responsible for facilitating the commercialisation of life sciences and healthcare.
During his career, Stephen has spun two companies out of Cambridge – Metris Therapeutics Ltd and GNI Group Ltd. GNI was established as a start up in Japan in 2001 and successfully achieved an Initial Public Offering (IPO) on the Tokyo Stock Exchange six years later.
Stephen has extensive non-executive experience serving on the Boards of the National Healthcare Group Singapore which developed integrated care through nine polyclinics. In Australia, he was on the Board of the Royal Melbourne Hospital and the Victorian Comprehensive Cancer Centre, a $1billion project to create a fully integrated cancer care facility that brings together an integrated research, service and education offering to four million patients in Victoria.
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