SpectrumX Holdings Ltd has agreed the appointment of former Goldman Sachs (NYSE:GS) managing director Aziz McMahon as executive chairman, focusing on investor relations, corporate governance and the formulation of a new environmental, social, and governance (ESG) policy.
McMahon, who was an early-stage cornerstone investor in SpectrumX, brings over 20 years’ experience in investment banking, including the previous 14 years as a Goldman Sachs (NYSE:GS) MD focused on emerging markets.
The UK-based company has an agreement with McMahon and the appointment will be finalised at the board level ahead of its planned listing on the London Stock Exchange in the final quarter of the year.
SpectrumX said it is closing in on a final capital raising as it prepares to begin phase II clinical trials of its inhaled respiratory treatment, designed to treat Coronavirus (COVID-19) as well as other influenzas, the common cold, bronchitis and pneumonia.
Initial in-vitro data shows that SPC-069 is 100% effective at neutralising wildtype, Alpha variant and Delta variant forms of COVID-19.
Damien Hancox, chief executive and co-founder of SpectrumX said: “As an early-stage cornerstone investor, Aziz has been a key team member and advisor since our inception. We are delighted he has agreed to this appointment, where he will focus his abilities and wealth of experience on the development of our group as we enter this exciting new phase ahead of our listing. Aziz believes – as I do – that we truly are on the cusp of one of the most revolutionary treatments since the discovery of penicillin, and that passion combined with his expertise makes him the ideal person for such an important role.”
McMahon added: “Having supported SpectrumX since the outset, I am excited to agree to an executive chairman role, as the company accelerates the development and deployment of its patented chemistry, a 100% safe and effective nature-based cure to all pathogens known to mankind. I look forward to ensuring the company continues its path of success as it becomes a public company, adhering to strict ESG standards, including carbon neutrality, transparent investor relations and the highest standards in corporate governance.”