Shield Therapeutics PLC (LON:STX) has appointed chief financial officer (CFO), Tim Watts as its new chief executive officer (CEO), replacing outgoing CEO and founder Carl Sterritt who has resigned with immediate effect.
Prior to joining the pharma firm, Watts served as CFO of Oxford BioMedica plc (LON:OXB) preceded by 22 years at AstraZeneca PLC (LON:AZN).
READ: Shield Therapeutics carries out analysis on trial dataset
in a statement, Shield said Sterritt had willingly agreed to actively support the new CEO over the coming months and make his knowledge and experience of the company’s Feraccru/Accrufer iron deficiency product readily available through the closing of a partnership agreement in the US.
"On behalf of the Board, I would like to extend our sincere thanks to Carl for the very substantial contribution that he has made to Shield since he founded the Company. His entrepreneurial approach, drive and determination have enabled the Company to successfully develop Feraccru/Accrufer and build the business to what it is today”, said Shield chairman James Karis.
“His ongoing support is welcome and I wish him and his family all the best for the future. Looking forward, I am very pleased that Tim Watts has agreed to assume the role of CEO. His knowledge of the Company and his strong biopharmaceutical background will be critical to further advancing the business", Karis added.