LONDON (ShareCast) - Gene-based biopharmaceutical company Oxford BioMedica confirmed that Dr Stuart Naylor will step down as Chief Scientific Officer at its Annual General Meeting today after 16 years with the firm.

“In line with the evolution of the company's strategy, the role of Chief Scientific Officer has been replaced with the role of Chief Medical Officer and Dr Madhu Davies, who has previously worked as a consultant to Oxford BioMedica, will be appointed to this position as of June 7th 2013,” the group explained.

Oxford Biomedica added: "...The time is right for Stuart to seek to apply his skills and expertise to new challenges, and for Oxford BioMedica to apply alternative expertise to support the company in its next phase of growth."

Davies is a medically qualified physician with more than 25 years' industry experience and has previously been responsible for strategic development and management of products.

Davies also has a strong track record of clinical evaluation, product registration and medical marketing both in Europe and the US, it said.

Its shares rose 1.49% to 1.70p in midday trading in London.

Shares of Oxford Biomedica plummeted over 26% earlier this week after it confirmed on Monday that clinical trials of its eye products have been put on hold.




CJ

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