Seven directors out at Anglo-US biotech firm
Wednesday 02 September 1998
The Anglo-American bio-technology company is best known for its anti- venom serum for snakebites, particularly those of rattlesnakes and the North American viper.
At the same time as the company announced the board restructuring, it also said it was going to appoint a finance director to be based in London. The company, which is based in Tennessee but listed in the UK, plans to move its domicile to London ahead of a planned fund-raising exercise.
"The likely place to raise money is in London and UK institutions like to see British companies run by a Brit," Mr Wallis said.
He added: "I really enjoyed my time at Fisons and I had been thinking I would like to get involved in the pharmaceutical sector again." He said Therapeutic Antibodies had become aware that its board was too large, unwieldy and expensive. The seven directors to go included Professor John Landon, one of the company's founders.
Mr Wallis has enjoyed a terrific run of good fortune. He netted around pounds 1m from his stake in Scholl, the footcare company, when it was sold to Seton Healthier in May.
His stake in LLP, the Lloyd's List publisher, was worth around pounds 2m when the group floated this year. He has also made substantial sums from the sale of Sheffield Forgemasters, the engineering group, and from the takeover of Fisons in 1995.
Shares in Therapeutic Antibodies closed 2.5p up at 77.5p. They were 263.5p last autumn.
- 1 Notting Hill Carnival: Woman shares selfie after being ‘punched in face for telling man to stop groping her’
- 2 Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
- 3 Oil tanker with $100 million cargo goes missing off Texas coast
- 4 George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
- 5 Medina: Saudis take a bulldozer to Islam's history
YouTube video posted by Isis militants shows 'execution of 250 Syrian soldiers'
Keira Knightley topless: Usually conservative actress does own take on #Freethenipple campaign for Interview Magazine
Oil tanker with $100 million cargo goes missing off Texas coast
George Galloway left with severe bruising after attack in Notting Hill by man 'shouting about the Holocaust'
Brother and sister, Christopher Buckner and Timothy Savoy, arrested for 'committing incest after watching 'The Notebook''
Robin Williams Emmys tribute led by Billy Crystal criticised for including 'racist' joke about Muslim woman
The Rotherham child abuse scandal is a tale of apologists, misogyny and double standards
Scottish independence TV debate: Pumped-up Alex Salmond bounces back in bruising second round against Alistair Darling
Do you realise just how foolish the UK looks?
Ukip Douglas Carswell defection: Tory MP jumps ship to join Nigel Farage
When elitism grips the top of British society to this extent, there is only one answer: abolish private schools
- < Previous
- Next >
iJobs Money & Business
£50000 - £80000 per annum + benefits+bonus+package: Harrington Starr: Data Sci...
£450 - £500 per day: Orgtel: SAS Business Analyst, London, Banking, Credit Ris...
£32000 - £38000 Per Annum Bonus, Life Insurance + Other Benefits: Clearwater P...
£200 - £250 per day + competitive: Orgtel: KYC Analyst, Key Banking Client, Bi...