Vivacta re-aligns management in preparation for £4 million financing round

26 August 2010

Kent-based diagnostics technology company Vivacta Limited has announced a change and re-alignment of its executive management team as it enters an important phase of partnering and commercialisation.

Vivacta has developed a piezofilm diagnostics system consisting of a bench-top portable reader and a single use, disposable cartridge about the size of a credit card, which acts as a whole-blood collection device.

Dr Tim Carter has been appointed Chief Executive Officer following the resignation of Neil Butler. Dr Carter, a founder of the company and previously Chief Scientific Officer and inventor of its proprietary piezofilm technology, has more than 30 years experience in clinical diagnostics. He managed the transformation of IP-fenced technology into a reduced to practice product format at excellent clinical performance. He is also the co-inventor of the successfully commercialised enhanced chemi-luminescence technology.

Vivacta’s Board has accepted Neil Butler’s resignation and wishes to thank him for his critical contribution in building the company. Neil’s strategic and operational experience and leadership has made it possible for the company to develop, validate and demonstrate its unique patented technology.

The Board also announces the appointment of Oliver Boucher as its Chief Business Officer and member of the Executive Management Team. Mr Boucher will lead the commercialisation of Vivacta’s innovative piezofilm technology which forms the core of a new generation of near-patient diagnostic products achieving very high sensitivity combined with wide dynamic range.

Mr Boucher brings over 15 years of commercial development and licensing experience to Vivacta, gained both in large and small organisations. Most recently, Oliver was Chief Business Officer at Sigmoid Pharma, an oral drug delivery company. Before that, he spent six years as Vice-President of commercial development at Trigen, the European cardiovascular drug development specialist. Prior to entering the small company sector, Mr Boucher spent seven years in senior positions within the business development group of multinational pharmaceutical giant, GSK.

"The appointments of Tim Carter and Oliver Boucher signal the company’s readiness to enter strategic and commercial partnerships,” said Rolf Classon, non-executive Chairman of the Board.

Vivacta today also announced the intention by its four major shareholders Viking, Spark, IDInvest Partners (formerly AGF Private Equity) and HBM shortly to complete a financing round of £4 million.