Arix Bioscience PLC (LON:ARIX) has unveiled changes to its board of directors and executive leadership team which sees Naseem Amin, currently a non-executive director at Arix assume the role of executive chairman with immediate effect.
In a statement, the global venture capital company, which is focused on investing in and building breakthrough biotech companies, said the changes “right-size the organisation as the Company shifts to value realisation from its current portfolio, setting the stage for future growth.”
Amin, who joined the Arix board in December 2019, has broad life sciences experience in both the US and Europe, having held senior positions in major healthcare businesses in R&D, business development, marketing, and in venture capital.
He has been a venture partner at Advent Life Sciences, Chief Scientific Officer of Smith and Nephew PLC (LON:SN.) and led Business Development at Biogen and at Genzyme Therapeutics, where, for both of these companies, he initiated and executed a number of acquisitions and partnerships.
Naseem started his career at Baxter Healthcare where he had executive roles in marketing, product development and clinical research.
The group also said Jonathan Peacock, co-founder and chairman, and Art Pappas, a non-executive director, will step down from the company’s board at the 2020 Annual General Meeting.
Joe Anderson, co-founder and chief executive officer of Arix will leave the company, effective immediately, along with two members of the senior team, it added.
Arix added that the investment team retained in both Europe and the US will build on the current portfolio and lead further investments.
Jonathan Peacock commented: “These operational changes, which will have a substantial impact on cost-structure, best position the Company to capture value and set the stage for future long-term growth.
“Under Naseem’s leadership, I feel confident that the business is in good hands to deliver on that opportunity.”
Amin, Arix’s new executive chairman commented: “The founders and management team have done exceptional work in establishing a strong and exciting portfolio of innovative biotech investments.
“I look forward to working closely with the team to ensure we are optimally positioned to generate superior returns for stakeholders and ultimately be part of delivering new potential therapies to patients.”