Existing directors Dr David Chiswell and Sir Mark Richmond have decided not to stand for re-appointment. Sir Mark has advised Sosei for a number of years, initially as Chairman of its Scientific Advisory Board, and as a director since December 2003. David also joined the board in December 2003 and was appointed Chairman of the board in March 2005.
Mr Shinichi Tamura, President & CEO of Sosei, said: "I warmly welcome our new non-executive directors to the board. Their combined breadth of experience will provide Sosei with sound independent direction as we progress towards our goal of becoming a profitable leading global biotech company. I would also like to congratulate Robin Bannister on his appointment to the board. At the same time, on behalf of the directors and employees of the company, I would like to express our appreciation to David and Sir Mark for their contribution to Sosei’s evolution, including its IPO on the TSE Mothers index, the groundbreaking acquisition of Sosei R&D in the UK and the follow-on fundraising earlier this year. We thank them for their valuable support and insight and wish them both well.”
Dr Declan Doogan, on behalf of the new non-executive directors, said "We are excited about the prospect of working with Sosei during a period which is expected to be transformational for the company. Personally, I am pleased to be joining an enthusiastic innovative organisation with such a rich pipeline in addition to its recent achievement in further developing its cancer breakthrough pain product."
In addition to the above, Shinichi Tamura, President and CEO and Takuya Fujii, nonexecutive director have been recommended for re-appointment to the board by the Nominations Committee.
The proposed changes reflect the company’s objective of becoming a leading global biotech company with a Japanese origin and the expectation that as Sosei moves closer towards revenue generation it will expand globally, especially in the USA.