COO to step down from board of life sciences business

THE chief operating officer at Avacta has announced he will not be seeing reelection to his role next year, but will remain with the company.

COO Craig Slater will cease to be a board member from 20 January, at Avacta’s AGM.

However he will remain in the company overseeing the Animal Health business.

Avacta, which develops affirmers, an engineered alternative to antibodies, reported group revenues of £2.17m for the year to July 2016, up from £1.81m. Total losses for the period reduced to £4.65m, down from £9.99m in 2015.

Dr. Trevor Nicholls, non-executive chairman of Avacta Group, commented: “The board would like to thank Craig for his significant contribution to the Group since he joined the board in 2013. Craig will remain with the Group as chief operating officer and continue to oversee Avacta Animal Health.”