London, UK – Modern Biosciences plc (‘MBS’ or ‘the Company’), the drug development company, is pleased to announce that it has appointed William Turner, CA, as Finance Director, with immediate effect.

Will joins MBS following three years as Group Financial Controller of IP Group plc, the UK’s leading investor in university spin-out companies, where he oversaw the finances and operations of the company. During his tenure, IP Group increased its profits from £5m to £40m and listed on the Main Market of the London Stock Exchange. IP Group is currently capitalised at £285m.

Will was actively engaged in board level roles within IP Group’s portfolio of biotech company investments and acted as interim Finance Director during the IPOs of Oxford Catalysts Group plc and Modern Water plc, as well as being responsible for a number of private fundraisings.

Prior to joining IP Group, Will spent two years in the Finance division of Christies, the London-based auction house, after qualifying as a Chartered Accountant in the financial services division of KPMG in London in 2002. He holds a BA (Hons) in Economics.

Commenting on the appointment, Dr Clive Dix, Non-Executive Chairman of Modern Biosciences, said: “I welcome Will to the team as full time Finance Director. Will has extensive corporate finance and fund-raising experience which will be invaluable to MBS as it seeks to increase its investment in a rapidly growing number of pipeline products. We look forward to him playing a pivotal role in the continued development, growth and success of the Company."

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Notes for Editors

About Modern Biosciences

Modern Biosciences is a drug development company which sources late-stage discovery projects from academia and start-up companies, conducts early proof-of-principle clinical studies and out-licenses the resulting programmes to the pharmaceutical and biotechnology industries. The Company has three projects in development; two in the field of cancer and one in inflammation.

For more information, please visit our website at www.modernbiosciences.com

ENDS