THE CFO of drug discovery and development company e-Therapeutics has resigned, with a former adviser stepping into the role.
Dr Daniel Elger has left the listed UK pharmacology business with immediate effect. In a stock exchange statement earlier this morning, e-Therapeutics announced that its financial controller will hold the interim FD role, however, it then followed up an hour later with another statement announcing Steve Medlicott as FD.
Medlicott, a PwC-trained chartered accountant, advised the company during its fundraising in 2013. He has served in a range of business development and sell-side roles, with Peel Hunt, N+1 Singer, Altium Capital and Williams de Broe. He has also served as director of finance at Waste2Tricity.
Professor Malcolm Young, chief executive of e-Therapeutics, said: “We are excited to welcome Steve to the company as our finance director. He has unsurpassed knowledge and understanding of the financial markets and of e-Therapeutics, having supported us to raise funds in 2013. His capabilities and experience will be very valuable to us.”
The Oxford- and Newcastle-based biotech business recently provided encouraging news around its anti-cancer drug trials, which saw analyst Edison Group restate its positive rating on its shares.