Arix Bioscience PLC (LON:ARIX) said it has begun a strategy implementation review that will assess board composition, executive resourcing and remuneration.
The venture capital company, which is focused on investing in breakthrough biotech companies, said it will “solicit views from a wide range of stakeholders”.
As part of the process, it said it will aim to fully understand and reflect the views and wishes of shareholders.
The review will be overseen by senior independent Arix director, Giles Kerr, who has already begun engaging with some of the group’s largest investors.
His initial findings will be delivered ahead of the notice of the forthcoming annual meeting, which is expected to be circulated on or around April 23.
Chairman Naseem Amin, said: “The company’s founding thesis continues to be sound and has been validated by the VelosBio exit.
“As a consequence, we believe it is necessary to accelerate the development of our capabilities to ensure we make the most of the opportunities before us.
“We aim to report the review’s initial findings in time for the 2021 AGM and welcome constructive engagement from all those with whom we have a relationship, as we work to ensure Arix offers a high-quality platform to identify and support exciting new biotech opportunities.”