TIDMNSCI

RNS Number : 7136M

NetScientific PLC

11 May 2015

NetScientific plc

("NetScientific" or the "Group")

NetScientific appoints Dr. François R. Martelet as Chief Executive Officer

London, UK - 11 May 2015 - NetScientific (AIM: NSCI), the biomedical and healthcare technology group, announces the appointment of Dr François R. Martelet as Chief Executive Officer and Board Director.

Dr. Martelet will join the Group on 8 June 2015. Sir Richard Sykes, who has been Executive Chairman prior to this appointment, will revert to his position as Non-Executive Chairman.

Most recently, Dr. Martelet has served as senior advisor to the CEO and Interim SVP at Stallergenes SA where he was responsible for international commercial strategies. During this period, sales revenues grew by 20+% and various new products were launched, including Oralair(R), into ex-US markets. Before this, he was CEO at Topotarget A/S, a publicly traded European biotech company specialised in oncology therapeutics which he successfully transformed from a research based organisation into a late-stage clinical development company ready for a European exit.

Prior to this, Dr Martelet served as CEO of Avax Technologies Inc., a US biotech company specialised in therapeutic oncology vaccines. He has also held senior level commercial positions at Merck & Co, Inc. (VP & Global Franchise Head-Oncology), Novartis Pharma (SVP & Head of Central & Eastern Europe, Middle East and Africa), Schering-Plough and Eli Lilly.

Sir Richard Sykes, Chairman of NetScientific, commented: "Dr. Martelet further strengthens NetScientific's management team at a time when a number of the Group's portfolio companies will soon be entering commercialisation. He brings over 20 years of biopharma experience and a proven track record of shaping and developing businesses to deliver returns. With his broad experience in both large and small companies, deep knowledge of commercialisation and his proven managerial capability, François will be a great asset to the business in growing its innovative technology portfolio."

Dr Martelet said: "It is a great opportunity to take on the CEO role at NetScientific, working with the Board and the management team in the transformation process of its portfolio companies. I am particularly pleased to work with Sir Richard, whose track record in the Pharmaceutical and Biotechnology fields is very impressive. I look forward to being able to shape the direction of NetScientific's portfolio of game-changing healthcare platform technologies."

François Regis Martelet, aged 55 years, has been a director of the following companies during the five years preceding the date of this announcement:

 
 Current directorships       Past Directorships 
 Pharmaexcellentia SA        Avax Technologies Inc. 
 (personal service company)  Ennovance Capital LLC 
                              European BioPharmaceutical Enterprises

There is no further information to be disclosed under Schedule Two paragraph (g) of the AIM Rules for Companies.

- Ends -

About NetScientific

NetScientific is a biomedical and healthcare technology group that funds and develops technologies that offer transformative benefits to people's lives and society through improved diagnosis, prognosis and treatment. For more information, please visit the website at www.NetScientific.net

Contact Details

 
 NetScientific                         Tel: +44 (0)77 2055 5752 
  Peter Thoms, CFO 
 Investec                              Tel: +44 (0)20 7597 4000 
  Gary Clarence / Daniel Adams 
 Instinctif Partners                   Tel: +44 (0)20 7457 2020 
  Melanie Toyne-Sewell / Jayne Crook    Email: netscientific@instinctif.com

This information is provided by RNS

The company news service from the London Stock Exchange

END

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