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10 January 2013
("Tyratech" or the "Company")
Appointment of experienced life science CEO as part of commercialisation phase
The Board of TyraTech (AIM: TYR and TYRU), a life sciences company focusing on natural pest control and healthcare products, is pleased to announce the appointment of Bruno Jactel, 51, as Chief Executive Officer with immediate effect. Mr Jactel joins the Executive Board as the Company accelerates its transition toward commercialisation.
Mr. Jactel spent 12 years at Merial Limited ("Merial"), the US$2.6 billion revenue generating Animal Health subsidiary of the Sanofi Group, most recently as combined Chief Strategy Officer and Chief Marketing Officer. As Head of commercial operations in Europe, Mr. Jactel developed successful growth strategies in both OTC and professional channels. He was further responsible for global marketing, brand management and enterprise and franchise strategy, in addition to being a co-chair on the R&D steering committee. During this time, Merial built the most successful consumer brand in animal health history with FRONTLINE (Flea and tick product for pets) reaching $1b in annual revenue in 2009.
Prior to working at Merial, Mr. Jactel was Deputy Minister for Economic and Commercial Affairs at the French Embassy in Washington D.C. He is also a recent founder and board member of Hypercell Technologies LLC, an early-stage biotech company developing therapeutic solutions to serious infectious animal disease. Mr. Jactel is a Doctor of Veterinary Medicine and has a Masters in Economic Sciences from the Sorbonne University in Paris. He graduated from the Ecole Nationale d'Administration, Paris in 1993.
To ensure a smooth transition, Alan Reade will remain as Executive Chairman until at least the end of the first quarter of 2013. Alan will then revert to the role of Non-Executive Chairman and in that capacity will continue to support the Company both as a Board Member and an investor.
Alan Reade, Executive Chairman of TyraTech, commented: "Bruno joins at a pivotal time in the Company's history and his appointment will enhance the commercial competencies of TyraTech as well as bringing a new dynamic to an already strong Board.
"From my time as Executive Chairman of Merial I know that Bruno's marketing, scientific background, business skills and experience make him the ideal person to lead TyraTech moving forward. The Company is focused on realising the significant commercial opportunities in the Personal Care, Animal Health and Consumer markets, where products are either ready for market or in the final stages of development. In addition, we continue to support our recently announced joint venture with Amvac Chemical Corporation, another exciting development for TyraTech."
Bruno Jactel, Chief Executive Officer, commented: "TyraTech has a powerful combination of natural branded products, strong research and operational teams, a first rate technology platform and a commercial and technical network that ideally positions the Company for future commercialisation. I am looking forward to working with the team and leading TyraTech into the next phase of its development."
Further information about Bruno Jactel:
Bruno Georges Jactel
Directorships and partnerships held over the five years preceding the date of appointment are as follows:
Hypercell Technologies LLC
There are no further disclosures required under Schedule 2(g) of the AIM rules for Companies.
Mr. Jactel is interested in 419,050 common shares representing an interest of 0.39 per cent of the total voting rights of the Company.
For further information please contact:
Alan Reade, Executive Chairman
Tel: +1 919 415 4310
Peter Jerome, Chief Financial Officer
Tel: +1 919 415 4280
N+1 Singer, Nominated Adviser and Joint Broker
Aubrey Powell / Alex Wright
Tel: +44 20 7496 3000
First Columbus LLP, Joint Broker
Tel: +44 20 3002 2070
Walbrook, Financial PR and IR
Bob Huxford /Helen Westaway (Public Relations)
Tel + 44 7933 8792
Paul Cornelius (Investor Relations)
Tel +44 20 7933 8794
Notes to Editors:
TyraTech, Inc. was established in 2004 to utilize its novel technology to fill the unmet and increasing global demand for effective, safe, and natural pesticide technologies for human and animal health.
TyraTech's products incorporate a unique blend of potent natural active ingredients and are available in a number of markets including consumer, commercial, professional pest control, agriculture, human and animal health, vector control and livestock markets.
TyraTech, Inc. made its Initial Public Offering in June 2007 on the AIM section of the London Stock Exchange, where it trades under the symbol 'TYR'. Since going public, TyraTech has established partnerships with market leaders in areas such as human health as well as consumer and commercial pest control operators.
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