Arix announces strategic and operational update

Arix Bioscience plc (LSE:ARIX) ("Arix"), a global venture capital company investing in and building breakthrough biotech companies, today announces that Christian Schetter, PhD, currently Entrepreneur in Residence at Arix, has been appointed as a Managing Director. Arix also announces the establishment of a Scientific Advisory Board (“SAB”) and Board Investment Committee (“BIC”).

Christian has over 20 years’ industry experience across the life sciences sector. Prior to joining Arix as Entrepreneur  in Residence in 2019, Christian was CEO of Rigontec GmbH an immuno-oncology company, which was acquired by Merck & Co (MSD).  Christian is Executive Chairman of STipe Therapeutics and a Non-Executive Director of Aura Biosciences, both Arix portfolio companies.

Christian Schetter, PhD, Managing Director of Arix, commented:  “I am pleased to step into a Managing Director role, as Arix moves towards its next stage of growth. I am particularly excited by the promise Arix’s diverse portfolio of companies offers to address serious unmet needs in healthcare and I look forward to continuing to work with the team, to help these companies achieve their goals of delivering important new therapies to patients.”

Naseem Amin, MD, Executive Chairman of Arix, commented:  “Christian brings a rare combination of scientific, strategic and transactional experience. Christian’s successful track record as a builder of biotech companies and realisation of their value to shareholders is a tremendous asset to Arix, our portfolio companies and our investors. His addition to the team strengthens our ability to realise the ambitious growth plan we have. His insight in an ever changing and increasingly complex environment will be invaluable.”

The newly formed SAB will be chaired by Arix Non-Executive Director Professor Trevor Jones, CBE, FMedSci, and is comprised of leading researchers and industry executives dedicated to improving treatments for patients. The SAB will be primarily responsible for advising the Management Investment Committee and the newly formed Board Investment Committee regarding priority investment decisions. These changes are designed to provide access to specialist insight as Arix’s portfolio matures and new investment opportunities are evaluated. Joining the SAB are:

• Ruth Atherton, PhD, JD, executive sponsor of the Bill & Melinda Gates Foundation Global Access Team, leading development and implementation of the foundation’s intellectual property strategy;
• Dr. Andreas Busch, PhD, former Head of Research & Development and Chief Scientific Officer at Shire Pharmaceuticals;
• Professor Trevor Jones, CBE, FMedSci, current Arix Non-Executive Director, former Group R&D director at The Wellcome Foundation Limited; and
• Professor KJ Patel, FRS FMedSci, Director of the MRC Weatherall Institute of Molecular Medicine and MRC Molecular Haematology Unit in Oxford.

Professor Trevor Jones, CBE, FMedSci, Arix SAB Chair and Non-Executive Director, added: “We are delighted to welcome this renowned group of academic and industry experts to our newly formed SAB. These high calibre individuals share Arix’s vision of addressing significant unmet needs in healthcare and provide  multi-disciplinary expertise in key areas that are intrinsic to successful drug development and value creation. The SAB also further expands our already large industry network and opens up additional avenues to identify promising investment opportunities and trends at the forefront of science and industry.”

Finally, the creation of a Board Investment Committee will enable the Board to review and approve significant investment or disposal decisions. These changes will ensure greater engagement and oversight by the Board in management team decision making and build on the Board of Directors and executive leadership changes announced on 6 April 2020. The Board Investment Committee will be chaired by Naseem Amin, Executive Chairman, and include two non-executive directors.

Following the AGM, the Board also intends to strengthen corporate governance with the appointment of a Senior Independent Director, in accordance with the UK Corporate Governance Code.

The SAB and BIC formation, and any new future appointments to the Board of Directors, will be made in-line with our strategic priorities and new operating cost structure.