2nd Apr 2007 07:04
IP Group PLC02 April 2007 For immediate release 2 April 2007 IP Group plc MODERN BIOSCIENCES APPOINTS DR SAM WILLIAMS AS CHIEF EXECUTIVE OFFICER IP Group plc (LSE: IPO) ("IP Group" or the "Company" or "Group"), theintellectual property commercialisation company, is delighted to announce thatit has appointed Dr Sam Williams as Chief Executive Officer of ModernBiosciences plc ("MBS" or "Modern Biosciences"), its in-licensing and drugdevelopment subsidiary. Sam, aged 37, is an award-winning biotechnology analyst with over ten years'experience in the financial services industry as well as expert life sciencesknowledge, particularly in molecular biology. Sam joins Modern Biosciences from Lehman Brothers where he was promoted to therole of Industry Group Leader for European Pharmaceuticals and Chemicalsfollowing a highly successful career as a biotechnology analyst. He was rankedthe number one European Biotechnology equity analyst by Institutional Investormagazine in 2004, 2005 and 2006 and by Thomson Extel in 2004 and 2005. Prior to joining Lehman Brothers in 2002, Sam was an analyst at the U.S.technology investment bank, Robertson Stephens. He started his career in financeas part of the Rothschild Bioscience Unit where he helped to adviseInternational Biotechnology Trust and Biotechnology Investments Limited oninvestments in the private and public healthcare sectors. Sam has a degree in biology from Oxford University and a PhD from the Laboratoryof Molecular Biology in Cambridge where he worked in the research group of SirGregory Winter FRS, scientific co-founder of Cambridge Antibody Technology (CAT)and Domantis. While in Cambridge, Sam co-developed antibody engineeringtechnologies licensed to CAT by the Medical Research Council. Alan Aubrey, Chief Executive of IP Group, said: "I'm delighted that Sam hasjoined Modern Biosciences. His experience of the financial services industrycoupled with his background in life sciences made him an ideal choice for thisrole. Those skills will be invaluable to help progress MBS to the next stage ofits development." Dr Sam Williams, Chief Executive Officer of Modern Biosciences, said: "I amexcited to be joining MBS which has a business model that addresses asignificant unmet need in the development of high quality drug candidates. MBShas the capacity to create significant value from the intellectual propertyarising from the UK's world class research institutions." For further information, please contact: IP Group plc 020 7489 5200Alan Aubrey, Chief Executive OfficerLiz Vaughan-Adams (communications) 020 7489 5206/07979853802 Buchanan Communications 020 7466 5000Tim Anderson, Mary-Jane Johnson, Mark Court Modern Biosciences 020 7002 1529Dr Sam Williams Notes for Editors About IP Group IP Group Plc is an intellectual property (IP) commercialisation company thatspecialises in commercialising university technology. Founded in 2001, IP Grouplisted on AiM in October 2003 and moved to the Official List in June 2006. Ithas made two acquisitions to date - Techtran, a company set up to commercialiseuniversity intellectual property under a long term contract with the Universityof Leeds, in 2005 and Top Technology Ventures, an investment adviser to earlystage technology venture capital funds, in 2004. The group has formed long-term partnerships with ten universities - theUniversity of Oxford, King's College London, CNAP/University of York, theUniversity of Leeds, the University of Bristol, the University of Surrey, theUniversity of Southampton, Queen Mary (University of London), the University ofBath and the University of Glasgow. As at 31 December 2006, 53 spin-out companies had been created among the group'suniversity partners. Of those, eight have listed on the AiM market of the LondonStock Exchange, one on PLUS Markets and there have been two trade sales. For more information, please visit our website at www.ipgroupplc.com. About Modern Biosciences Modern Biosciences is a subsidiary of IP Group that was established in 2005 as aspecialist drug in-licensing and development company. MBS' business modelprovides a channel for exciting early stage drug candidates to reach industryand is based around sourcing drug candidates from partner organisations, fundingand managing development programmes to value inflexion and forming commercialalliances with industry for later stage development and marketing. For more information, please visit our website at www.modernbiosciences.com. ENDS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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