Vivacta re-aligns management in preparation for £4 million financing
26 August 2010
Kent-based diagnostics technology company Vivacta Limited has
announced a change and re-alignment of its executive management team as
it enters an important phase of partnering and commercialisation.
Vivacta has developed a piezofilm diagnostics system consisting of a
bench-top portable reader and a single use, disposable cartridge
about the size of a credit card, which acts as a whole-blood
Dr Tim Carter has been appointed Chief Executive Officer
following the resignation of Neil Butler. Dr Carter, a founder of
the company and previously Chief Scientific Officer and inventor of
its proprietary piezofilm technology, has more than 30 years
experience in clinical diagnostics. He managed the transformation of
IP-fenced technology into a reduced to practice product format at
excellent clinical performance. He is also the co-inventor of the
successfully commercialised enhanced chemi-luminescence technology.
Vivacta’s Board has accepted Neil Butler’s resignation and wishes
to thank him for his critical contribution in building the company.
Neil’s strategic and operational experience and leadership has made
it possible for the company to develop, validate and demonstrate its
unique patented technology.
The Board also announces the appointment of Oliver Boucher as its
Chief Business Officer and member of the Executive Management Team.
Mr Boucher will lead the commercialisation of Vivacta’s innovative
piezofilm technology which forms the core of a new generation of
near-patient diagnostic products achieving very high sensitivity
combined with wide dynamic range.
Mr Boucher brings over 15 years of commercial development and
licensing experience to Vivacta, gained both in large and small
organisations. Most recently, Oliver was Chief Business Officer at
Sigmoid Pharma, an oral drug delivery company. Before that, he spent
six years as Vice-President of commercial development at Trigen, the
European cardiovascular drug development specialist. Prior to
entering the small company sector, Mr Boucher spent seven years in
senior positions within the business development group of
multinational pharmaceutical giant, GSK.
"The appointments of Tim Carter and Oliver Boucher signal the
company’s readiness to enter strategic and commercial partnerships,”
said Rolf Classon, non-executive Chairman of the Board.
Vivacta today also announced the intention by its four major
shareholders Viking, Spark, IDInvest Partners (formerly AGF Private
Equity) and HBM shortly to complete a financing round of £4 million.