British Biotech Appoints New Chairman.Business Editors OXFORD, U.K.--(BUSINESS WIRE)--Dec. 4, 2002 British Biotech British Biotech was a British based biotech company. British Biotechnology Limited was founded in 1986 by former G D Searle managers Keith McCullagh and Brian Richards, [1] plc (LSE LSE - Language Sensitive Editor : BBG BBG Brooklyn Botanic Garden BBG Broadcasting Board of Governors BBG Bloomberg (financial company) BBG Bundesbeamtengesetz (German Law) BBG Bergbau-Berufsgenossenschaft (Germany) , Nasdaq: BBIOY) announces that Dr Peter Fellner has today been elected to its Board of Directors, and will be appointed non-executive Chairman with effect from January 1, 2003. He will succeed Mr Christopher Hampson CBE CBE Commander of the Order of the British Empire (a Brit. title) CBE n abbr (= Companion of (the Order of) the British Empire) → título de nobleza CBE n abbr (= , who will be retiring on December 31, 2002 after serving as Chairman since 1998. Dr Fellner (58) has been Chief Executive Officer of Celltech Group plc since 1990, and is Chairman-designate. He will become Chairman of Celltech when his successor as Chief Executive Officer takes up his appointment, which is expected in early 2003. Dr Peter Fellner commented: "There is currently a significant opportunity to create value within the biotechnology sector, through the consolidation of companies with good R&D and/or pipeline products, which are hampered by high cost bases and inadequate financial resources. British Biotech has a strong balance sheet and high quality development skills upon which to build, and I very much look forward to helping create value for the company's shareholders." Mr Christopher Hampson said: "British Biotech is fortunate to have attracted a man of Dr Fellner's experience and knowledge to become Chairman. I am confident that he will bring added impetus Impetus is a stimulus or impulse, a moving force that sparks momentum. Impetus may also refer to:
Mr Tim Edwards
Timothy Edwards (born 24 June, 1974) is a former English cricketer, who played first-class and List A cricket for Worcestershire and minor counties cricket , acting Chief Executive Officer of British Biotech, said: "On behalf of the Board of British Biotech, I would like to thank Christopher Hampson for his very important contribution to the Company during his four years as Chairman. In Peter Fellner, we have a successor who is well equipped to ensure that the opportunities that lie ahead for British Biotech are maximized. I look forward to working with him." There are no other disclosures required regarding Dr Fellner in respect of paragraphs 6.F.2(b) to (g) of the Listing Rules. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that reflect the Company's current expectations regarding future events. Forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein and depend on a number of factors including the success of the Company's research strategies, the applicability of the discoveries made therein, the successful and timely completion of clinical studies and the uncertainties related to the regulatory process. Notes to Editors British Biotech plc British Biotech plc's interim results for the six months to October 31, 2002 have been announced in a separate statement today (December 4, 2002). British Biotech is a research and development stage company aiming to develop and commercialise specialist drugs for serious illnesses. It currently has four products in early clinical studies, supplemented by focused drug discovery research programmes. These are in the fields of inflammatory disease Noun 1. inflammatory disease - a disease characterized by inflammation disease - an impairment of health or a condition of abnormal functioning NEC, necrotizing enterocolitis - an acute inflammatory disease occurring in the intestines of premature infants; , in collaboration with Serono; and bacterial infections, in collaboration with GeneSoft. British Biotech currently has 86 employees, and had (pound)42.8 million cash and liquid resources at October 31, 2002. Celltech Group plc Over the past decade Celltech has grown into one of Europe's largest biotechnology companies Top 100 Biotechnology Companies The following is a list of the top 100 biotechnology companies ranked by revenue. The first nine companies qualify for the list of the top 50 pharmaceutical companies. , fuelled by a successful consolidation strategy. It has one of the strongest drug pipelines within the European biotechnology sector, coupled with a profitable, cash-generative international pharmaceutical business, and now has approximately 2,000 employees, including 550 R&D staff. In 2001 it achieved a turnover of (pound)303 million, and a pretax pre·tax adj. Existing before tax deductions: pretax income. pretax adj [profit] → vor (Abzug der) Steuern profit of (pound)47.8 million (before exceptional charges), after an R&D investment of (pound)91 million. Peter Fellner Dr Fellner has been Chief Executive Officer of Celltech Group plc since 1990, and is Chairman-designate of Celltech. He joined Celltech from Roche UK, where he was Chief Executive from 1986 to 1990. He was previously Director of the Roche UK Research Centre, and before that Director of Research at Searle UK Research Laboratories. Dr Fellner is Chairman of two privately held biotechnology companies, Astex Technology Ltd and Ionix Pharmaceuticals Ltd. He is also a Director of Isis Innovation Isis Innovation Ltd is a British technology transfer company, wholly owned by the University of Oxford, located in Summertown, Oxford, England. The company was established in 1988. Ltd, and Synaptica Ltd, and a member of the Medical Research Council. |
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