Biofusion plc (AIM: BFN), the university IP commercialisation company that turns world class research into business, today announces that Asterion Limited (“Asterion”) has appointed David M Lawrence as Non-Executive Director on the Board with immediate effect.
The appointment further strengthens Asterion’s Board, following the appointments of Dr Kevin Bryett as Chairman and Dr Raymond Barlow as Chief Executive Officer in May 2007.
Asterion is a spin-out company from Biofusion’s University of Sheffield agreement, with early stage funding from White Rose Technology Seedcorn Fund, which supports spin-out companies from Sheffield, York and Leeds universities. Asterion has developed a range of novel man-made hormones that have the ability to either mimic or block the actions of the body’s natural hormones to provide new therapies for pituitary disorders, metabolic syndromes, anaemia and inflammatory diseases.
David brings to Asterion extensive financial experience built from approximately 20 years in the global pharma and biotech sectors. David was previously Chief Finance Officer at Acambis plc , a leading UK biotechnology company targeting infectious diseases with novel vaccines. At Acambis he also led the Business Development group where he was responsible for the Japanese encephalitis outlicensing deal with Sanofi-Aventis as well playing the lead role in divesting a group subsidiary company and in-licensing. Prior to that, he was Vice President of Finance at Chiron Vaccines, now part of Novartis, where he led its transformational acquisition of PowderJect Pharmaceuticals plc. In addition, he held various financial and non-financial roles spanning his 13 years at GlaxoSmithKline, where he became Vice President of Financial Management R&D, a division with an operating budget of c $3 billion.
Commenting on this announcement, Kevin Bryett, Chairman of Asterion, said: “We are delighted to welcome David to Asterion’s Board, who brings with him considerable global pharma and biotech sector experience and builds on other recent significant Board appointments. Asterion is now in a greatly strengthened position to move forward with its growth strategy to progress its platform technology for the treatment of cytokine disorders.”
Also commenting on this announcement, David Lawrence, NED of Asterion, said: “I am very pleased to be joining Asterion at this exciting time. The Company has a unique platform technology and an existing development agreement with a major pharmaceutical company for its first product. I look forward to leveraging my pharma and biotech experience to maximise the value of the Company’s portfolio.”