6th Jan 2016 07:54
LONDON (Alliance News) - Drug development company e-Therapeutics PLC Wednesday said it has appointed Iain Ross as its new non-executive chairman, the same role that he currently holds at fellow London-listed Premier Veterinary Group PLC.
Ross joins e-Therapeutics with immediate effect, with acting Chairman Malcolm Young stepping down to resume his role as chief executive of the company.
"We welcome Iain to the board at e-Therapeutics. His extensive experience further strengthens the company and will be invaluable as we move towards realising the potential of our discovery and development programmes," said Young in a statement.
Back in September when it released its first half results, e-Therapeutics said it had "increasing confidence" in the second half of 2015 and 2016 despite reporting a pretax loss of GBP5.8 million that had widened from a GBP5.1 million loss a year earlier.
Currently, e-Therapeutics has two compounds currently undergoing clinical trials, its cancer drug ETS2101 and its depression treatment ETS6103.
Ross currently holds a total of twelve directorships following the appointment, including his role as Non-Executive Chairman of Premier Veterinary which he took up back in 2010. Premier Veterinary is currently restructuring its business after recently selling one of its subsidiaries to move the company away from physically operating clinics to solely providing services to third-party practices.
Premier Veterinary have not commented on Ross' appointment as the new Chairman of e-Therapeutics.
By Joshua Warner; [email protected]; @JoshAlliance
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