SOURCE: Allergy Therapeutics PLC

March 17, 2016 03:00 ET

Allergy Therapeutics PLC Announces Board Change

WORTHING, UNITED KINGDOM--(Marketwired - Mar 17, 2016) - Allergy Therapeutics (AIM: AGY)

AIM: AGY

17 March 2016

Allergy Therapeutics plc
("Allergy Therapeutics" or the "Company")

Board change

Allergy Therapeutics (AIM: AGY), the fully integrated specialty pharmaceutical company specialising in allergy vaccines, announces that Ian Postlethwaite, Finance Director, has resigned from the Company to pursue a new opportunity. Ian will remain as a Director of the Company and Finance Director for up to six months to allow time for a suitable successor to be appointed and for an orderly handover. The Board has commenced a search for his successor and a further announcement will be made in due course.

Peter Jensen, Chairman of Allergy Therapeutics, said: "Ian has been the Finance Director for 14 years and a significant contributor to the success of the Company. During this time Allergy Therapeutics has listed on AIM, achieved a number of financial goals including two fund raisings in 2015 to support the Company's clinical and other development plans, and has growing revenues from products on sale in Europe. Ian leaves the Company in the strongest position it has ever been in, in terms of sales, cash balance and growth potential. We are very positive about the future of Allergy Therapeutics and wish Ian the best for his ongoing career."

ENDS

For further information please contact:

Allergy Therapeutics
+44 (0) 1903 845 820
Manuel Llobet, Chief Executive Officer

Panmure Gordon
+44 (0) 20 7886 2500
Freddy Crossley / Duncan Monteith, Corporate Finance
Tom Salvesen, Corporate Broking

Consilium Strategic Communications
+44 20 3709 5700
Mary-Jane Elliott / Ivar Milligan / Matthew Neal / Laura Thornton
allergytherapeutics@consilium-comms.com

Note to editors:

About Allergy Therapeutics
Allergy Therapeutics is an international specialty pharmaceutical company focussed on the treatment and diagnosis of allergic disorders including immunotherapy vaccines that cure disease. The Company sells proprietary products and third party products from its subsidiaries in nine major European countries and via distribution agreements in an additional ten countries.

Formed in 1999 out of Smith Kline Beecham, Allergy Therapeutics is headquartered in Worthing, UK with MHRA-approved manufacturing facilities. The Company employs c.420 employees and is listed on the London Stock Exchange (AIM: AGY). For more information please see www.allergytherapeutics.com.

This information is provided by RNS
The company news service from the London Stock Exchange

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