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Keith Powell Hands Over to John Burt to Lead PolyTherics

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PolyTherics Limited has announced that Dr Keith Powell, its Chief Executive Officer, will step down from the Board and as Chief Executive Officer on 25th May 2011 to pursue other interests.

Keith joined PolyTherics in 2006 and has led the Company to a stage where it has a portfolio of commercial deals and committed funds to enable it to move to the next stage of its development.

John was previously CEO of Thiakis, a company which he co-founded with Professor Steve Bloom of Imperial College in 2004 and was acquired by Wyeth in 2008.

Keith Powell commented: “It has been a pleasure to work with such a dedicated team and with Steve Brocchini, PolyTherics’ Chief Scientific Officer and one of its founders, in particular.”

Ken Cunningham, Executive Chairman of PolyTherics, commented: “The Board thanks Keith for his valuable contribution to the progress of PolyTherics and for building a team that has the strength and depth to take the Company forward.”