02/09/2002
ReGen Therapeutics Plc (‘ReGen’ or ‘the Company’) announces the restructuring of its Board of Directors.
Michael Harvey, Chief Executive Officer, and Dr Jerzy Georgiades, Chief Scientific Officer, have both ceased to be Directors of the Company, with immediate effect. Percy Lomax, as Executive Chairman, now assumes full responsibility for the day-to-day operations and overall strategy of the Company. The planned business development for the Company will be implemented by the Company’s executive management team, comprising Norman Lott (Finance Director), Martin Small (General Manager) and Tim Shilton (Development Manager), each reporting directly to Mr Lomax. Dr Marian Kruzel will continue to provide scientific research and development consultancy services to ReGen.
Michael Harvey joined ReGen at the time of the Company’s admission to AIM in early 2000 and has since guided the Company through the most recent stages of its drug development program, culminating in the clinical trial in Poland confirming earlier indications that ColostrininTM is potentially a safe and effective treatment for Alzheimer’s disease. Following consultations with his fellow Board members, Mr Harvey has concluded that the next stage of the drug development programme does not require the permanent presence of an executive of his breadth of experience. Dr Georgiades was one of the founders of ReGen in 1998 and has been an executive Director and active participant in the Company’s development throughout the last four years.
Percy Lomax commented ‘I would like to extend our sincere thanks to both Mike and Jerzy for the contributions that they have made to ReGen’s formative years. The Company is now moving in to its next stage of development with what I believe to be a strong, cost effective, management team. In addition to my own experience, the experience of Tim Shilton and Martin Small will enable us to continue with the development of ColostrininTM as well as investigating other possible future projects for the Company. Norman Lott will continue to actively monitor the Company’s financial resources and research advice will be provided by Marian Kruzel.’
For further information, please contact
Andrew Marshall
Marshall Robinson Roe
Tel: 020 7489 2033
Mobile: 07785 297 111