IP Group PLC Directorate Change (4827U)
July 30 2015 - 2:03AM
UK Regulatory
TIDMIPO
RNS Number : 4827U
IP Group PLC
30 July 2015
FOR RELEASE ON 30 July 2015
IP Group plc - Appoints Dr Elaine Sullivan as Non-executive
Director
IP Group plc (LSE: IPO) ("IP Group" or "the Group"), the
developer of intellectual property-based businesses, is pleased to
announce the appointment of Dr Elaine Sullivan to the Board as
Non-executive Director with immediate effect.
Dr Sullivan has over 25 years of international experience
working in the pharmaceutical industry and was a member of the
senior management teams in R&D at Eli Lilly and AstraZeneca.
She has developed new molecules in therapy areas including
virology, cancer, ophthalmology, respiratory and inflammation. In
2015, she founded a specialist oncology company, Carrick
Therapeutics, and holds the position of Chief Executive.
From 2011 to 2015, Dr Sullivan was Vice President Global
External Research & Development in the US for Eli Lilly, where
she led a global workforce delivering access to business critical
external innovation. Global External R&D included the search
and evaluation function and Chorus, the virtual early phase drug
development arm. She was also a member of the Investment Committees
of Lilly Ventures and Lilly Asian Ventures and a member of the
Steering Committees of Lilly's Capital Fund Partners.
Dr Sullivan spent over 15 years at AstraZeneca, where she held a
number of roles including Vice President, Science & Technology.
During this period, she identified and established novel
drug-hunting approaches from target to delivery of proof of
concept, which successfully reduced compound attrition in the
clinic and significantly decreased the time to deliver new
molecules. She also held the position of Vice President, R&D
New Opportunities, establishing and leading the first virtual
Therapy Area in AstraZeneca. New Opportunities pinpointed new
disease areas and future healthcare trends, created new therapeutic
applications for multiple molecular entities and advanced them into
the clinic.
Dr Sullivan has a BSc (Hons) in Molecular Biology from the
University of Glasgow and a PhD in Molecular Virology from the
University of Edinburgh.
In June 2015, Dr Sullivan was appointed to the Supervisory Board
of Evotec AG, a drug discovery solutions company.
Mike Humphrey, Chairman of IP Group, said: "I am delighted to
welcome Dr Sullivan to the Board. Her invaluable international
experience in identifying and developing disruptive innovation, as
well as creating and leading new functions to deliver significant
impact, will be of great benefit to the Group. Her biotech and
pharmaceutical background will also further enhance the breadth and
diversity of knowledge on the Group Board."
Dr Sullivan said: "Over the years I have observed with interest
how IP Group has evolved and grown and I am supportive of its
unique approach to helping research academics turn their ideas into
commercially viable businesses. It is a privilege to join the Board
and I look forward to being able to play a role in the Group's
future success."
IP Group confirms that there is no additional information which
is required to be disclosed under Rule 9.6.13 of the Listing Rules
of the UK Listing Authority.
For more information, please contact:
IP Group plc www.ipgroupplc.com
Alan Aubrey, Chief Executive
Officer
Greg Smith, Chief Financial
Officer
Liz Vaughan-Adams, Communications +44 (0) 20 7444 0050
FTI Consulting
James Melville-Ross/Simon
Conway/
Victoria Foster Mitchell +44 (0)20 3727 1000
Notes for editors
About IP Group
IP Group is a leading UK intellectual property commercialisation
company, developing technology innovations primarily from its
research intensive partner universities. The Group offers more than
traditional venture capital, providing its companies with access to
business building expertise, networks, recruitment and business
support.
IP Group's portfolio comprises holdings in around 90 early-stage
to mature businesses across the Healthcare, Biotech, Cleantech and
Technology sectors. These businesses include Oxford Nanopore
Technologies, the DNA sequencing development company, Revolymer,
best known for its removable chewing gum, and Xeros, which has
received many accolades for its revolutionary clothes washing
techniques with a much reduced requirement for water.
For more information, please visit our website at
www.ipgroupplc.com.
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
END
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