Oxford, UK; 26 July 2006 – Oxford Immunotec Ltd, the T cell measurement company, has today announced the strengthening of the Board of Directors with two new appointments adding significant strategic and commercial weight.
Lawrence Kinet (aged 59) has joined the Board as non-executive Chairman. He was previously an executive director of Smiths Group plc (LSE:SMIN.L), a FTSE 100 company where he headed up Smiths Medical. Prior to that he was Chairman & Chief Executive Officer of Aksys Limited (NASDAQ:AKSY), a medical equipment company involved in automated home dialysis for kidney patients and of Oculon Corp, a specialist in cataract inhibition. He has also spent a significant amount of time in various senior management roles at Baxter International Inc (NYSE:BAX), culminating in his appointment as Corporate VP & President, World Trade Group comprising all of Baxter’s world trade operations outside the USA.
Commenting on his appointment, Mr Kinet said, “I am delighted to be joining Oxford Immunotec at this pivotal moment in the Company’s development. I am particularly excited by the opportunity to make a difference in diagnosis of TB, a disease which is resurgent worldwide. It is clear that T-SPOT®.TB has huge market potential which, if harnessed properly, will deliver significant returns for shareholders. I look forward to leading the Board in addressing the strategic challenges that lie ahead as we push T-SPOT.TB further into the European market and prepare for its launch in North America.”
Richard Sandberg (aged 63) has joined the Board as a non-executive director. He is currently Chief Financial Officer and a member of the Board of Directors of Matritech Inc (AMEX;MZT), a biotechnology company specializing in proteomic diagnostic products for the early detection of a variety of cancers. He serves on the Board of two other public companies; North American Scientific Inc. (NASDAQ:NASI), a leading innovator of radiation therapy products and systems for treating breast and prostate cancer and Ethan Allen Interiors Inc. (NYSE:ETH) an international manufacturer and retailer of fine home furnishings. Mr. Sandberg has played a principal role in starting and building a number of medical diagnostic companies including that of Chairman and Chief Financial Officer of Lifecodes Corporation, a pioneer in DNA testing technology and that of Founder, Chairman, Chief Executive Officer and Chief Financial Officer of DIANON Systems Inc, a publicly traded oncology marketing and database company sold in 2002 to Laboratory Corp of America (NYSE:LH).
Commenting on his appointment Mr Sandberg said, “In T-SPOT.TBOxford Immunotec has a product which has demonstrated its clinical superiority over other technology in the field of TB diagnosis. Having launched a number of new diagnostic products in the American market, I relish the opportunity to assist the Board and management in realising the product’s full potential.”
Commenting on these appointments, Peter Wrighton-Smith, Chief Executive Officer of Oxford Immunotec said, “We are thrilled to have secured two new Board members of the calibre of Dick and Lawrence. Their combined experience of driving market penetration for new medical products will be invaluable in ensuring that we develop the correct strategy for the business to maximise returns for our shareholders as we drive acceptance of T-SPOT.TB in new markets. Their experience of the US will be of particular value as we prepare to enter this vitally important market.”
