Arix Bioscience PLC (LON:ARIX), the biotech-focused venture capital group, has said that managing director Jonathan Tobin is leaving the group on March 1, 2021, to pursue another opportunity.
Naseem Amin, Arix’s executive chairman, thanked Tobin for his contribution to the company’s development and said he departs with its very best wishes.
“Our portfolio companies, particularly where he was the investment director, benefited greatly from his counsel and contribution to their progress,“ Amin said in a statement.
He added that following the success of several portfolio companies in 2020, Arix would be expanding its investment team in both the US and London.
Tobin said: “Arix has grown significantly since its inception and built a broad portfolio of companies, each with the potential to bring important breakthrough therapies to patients.
“These companies are expected to reach significant clinical milestones in the near and medium-term and all have potential to generate substantial value for Arix shareholders."
Shares in Arix have more than doubled over the past 12 months to 203p currently.