Chippenham, UK – 18 November 2014: Vectura Group plc (LSE: VEC; "Vectura" or "the Company"), announces that Andrew J. Oakley, former Chief Financial Officer ("CFO") of Actelion Pharmaceuticals Ltd (SIX: ATLN; "Actelion") will succeed Paul Oliver as CFO, Executive Director, and Company Secretary effective from 1st January 2015.
Prior to joining Vectura, Andrew gained considerable experience at two Swiss bio-pharmaceutical companies, including nearly 11 years at Actelion, a leading international biopharmaceutical company. He joined Actelion as CFO in 2003 and during his tenure, the company enjoyed a period of strong growth, with sales rising more than ten-fold to CHF1.8bn in 2013. During his time at Actelion, Andrew accumulated considerable transaction experience, including acquisitions, out-licensing and in-licensing deals. After leaving Actelion in 2013, he served as CFO at privately held Swiss biotech Novimmune.
Before he joined Actelion, Andrew was at Accenture, and has also gained international experience having lived and worked in the US, Australia and the UK. Andrew qualified as a Chartered Accountant in Australia and holds a MBA from London Business School.
Save as disclosed above, there is no further information to be disclosed pursuant to paragraph 9.6.13 of the Listing Rules of the Financial Conduct Authority.
Dr Chris Blackwell, Chief Executive of Vectura:
"We are delighted to welcome Andrew to Vectura at this exciting period in the Company's growth plans. Andrew is an established and well-regarded CFO who has gained considerable relevant experience within a leading European pharmaceutical company. His strong financial control, market knowledge and transaction experience will be a considerable asset for Vectura.
"The Board would like to thank Paul for his considerable contribution to the Company over the past eight years. Since joining Vectura, Paul has contributed to the growth of Vectura and to the successful acquisitions and subsequent integrations of Innovata plc and Activaero GmbH. We wish him continued success in his future career."
Vectura Group plc
+44 (0)1249 667700
Chris Blackwell, Chief Executive
Karl Keegan, Chief Corporate Development Officer
+44 (0)20 3727 1000
Ben Atwell / John Dineen / Ulla Lundhus
Vectura is a product development company that focuses on the development of pharmaceutical therapies for the treatment of airways-related diseases (airways diseases). This growing market includes asthma and chronic obstructive pulmonary disease (COPD) and is estimated to be worth in excess of $46 billion worldwide.1 Vectura now has eight products marketed by partners with growing global royalty streams and a portfolio of drugs in clinical development, a number of which have been licensed to major pharmaceutical companies. Vectura currently has disclosed development collaborations and license agreements with several global pharmaceutical and biotechnology companies, including Novartis, Sandoz, Baxter, GlaxoSmithKline, UCB, Ablynx, Grifols and Tianjin KingYork Group Company.
Vectura develops products for airways diseases and owns formulation and inhalation technologies that are available to other pharmaceutical companies on an out-licensing basis where this complements Vectura's business strategy. For further information, please visit Vectura's website at www.vectura.com.
This press release contains forward-looking statements, including statements about the discovery, development and commercialisation of products. Various risks may cause Vectura's actual results to differ materially from those expressed or implied by the forward-looking statements, including: adverse results in clinical development programmes; failure to obtain patent protection for inventions; commercial limitations imposed by patents owned or controlled by third parties; dependence upon strategic alliance partners to develop and commercialise products and services; difficulties or delays in obtaining regulatory approvals to market products and services resulting from development efforts; the requirement for substantial funding to conduct research and development and to expand commercialisation activities; and product initiatives by competitors. As a result of these factors, prospective investors are cautioned not to rely on any forward-looking statements. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.