Chairman of pharma firm Shield Therapeutics steps down ahead of AGM after year of plummeting shares

 
Sebastian McCarthy
Shield Therapeutics focuses on late-stage, hospital-focused pharmaceuticals.
Shield Therapeutics focuses on late-stage, hospital-focused pharmaceuticals (Source: Getty)

The chairman of Shield Therapeutics has announced he will not be running for re-election ahead of the biopharma’s AGM later today.

Andrew Heath, who has been part of the business since 2015, played a central role in helping the company achieve an initial public offering.

Read more: Niche pharma firms are driving innovation and deals in the sector

Shield Therapeutics focuses on the development and commercialisation of late-stage, hospital-focused pharmaceuticals.

Heath said: "I have thoroughly enjoyed my time at Shield Therapeutics and am proud to have been at the head of the team that has built the company into a commercial-stage, publicly listed, speciality pharmaceutical company.”

Read more: Pharma firm Circassia bashed by shareholder vote against executive pay

The company suffered a setback earlier this year when its lead product, Feraccru, failed pivotal regulatory regulatory trials that would open it up to the US market.

Its share price has sunk almost 84 per cent over the course of the last 12 months.

Related articles