London, UK, 3 July 2024: BenevolentAI (“BenevolentAI” or the “Company”) (Euronext Amsterdam: BAI), a leader in applying advanced artificial intelligence (AI) to accelerate biopharma drug discovery, today announces a change to its Executive Leadership Team (ELT) following the recent Annual General Meeting and the election of a new Board of Directors.
In a move to better enhance operational efficiency and strategic focus, the Board initiated a leadership review to better support BenevolentAI's ambitious growth plans. The results of the review include Ms. Catherine Isted stepping down from her role as Chief Financial Officer. The Board extends its gratitude to Ms. Isted for her contributions. Mr. Tom Holgate, who has been at BenevolentAI for nearly seven years, will continue in his role as Group Finance Director, ensuring continuity and leveraging his extensive understanding of the Company's financial landscape to lead several pivotal financial initiatives.
The Company is intensifying its efforts to capitalise on the expanding opportunities within the rapidly maturing 'techbio' sector. BenevolentAI's strong momentum is underscored by last week’s successful integration of a novel target in Systemic Lupus Erythematosus into AstraZeneca's portfolio, marking yet another significant milestone for the Company and the second major collaboration milestone achieved with AstraZeneca this year.
The Board's review further highlighted the need to adopt a more dynamic and entrepreneurial approach across the Company’s leadership, business development activities, and internal management structures. These changes are designed to expand the Company's market share in the AI-driven drug discovery sector, accelerate the development of its internal pipelines, and forge new strategic collaborations.
Dr Joerg Moeller, Chief Executive Officer of BenevolentAI, commented:
“It has been a pleasure to work alongside Catherine and I would like to thank her for her contribution and commitment during her time as Chief Financial Officer. As a leader in applying advanced AI to accelerate biopharma drug discovery, at BenevolentAI, we remain focused on delivering value creation for all our shareholders and delivering innovative medicines to patients suffering from serious medical conditions.”
Public disclosure of inside information in accordance with article 17(1) of the Regulation (EU) No 596/2014 on market abuse (Market Abuse Regulation)
Enquiries:
Investors:
Dr. Joerg Moeller – Chief Executive Officer
investors@benevolent.ai
T: +44 (0) 203 781 9360
Media:
James Osborn – Communications Lead
press@benevolent.ai
T: +44 (0) 203 781 9360
FTI Consulting:
Ben Atwell / Simon Conway / Victoria Foster Mitchell
BenevolentAI@fticonsulting.com
T: +44 (0) 203 727 1000
About BenevolentAI
At BenevolentAI (AMS: BAI), we serve patients by leveraging our proprietary and validated Benevolent Platform™ that integrates AI and science to uncover new biology, predict novel targets and develop first-in-class or best-in-class drugs for complex diseases. By applying proprietary advanced AI tools, in combination with in-house scientific expertise and wet-lab facilities, BenevolentAI is well-positioned to identify and accelerate novel drug discovery.
The Company’s business model presents multiple routes for value creation including discovery collaborations with pharma companies like AstraZeneca and Merck and advancing in-house pipelines to inflection points. Headquartered in London, with wet labs in Cambridge (UK), BenevolentAI is at the forefront of reshaping the future of drug discovery and delivering innovative medicines.
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