C4X Discovery Holdings PLC said on Tuesday that Chair Eva-Lotta Allan will step down with immediate effect, and that Clive Dix will become interim executive chair & chief executive officer until a replacement is found.

The Manchester, England-based drug discovery company that is focussed on immuno-inflammatory diseases said that Dix has served a variety of leadership positions at C4X Discovery over the past nine years, and has been appointed to ensure a smooth transition after which he will assume a non-executive board role.

Chair Allan has served for five years, starting in July 2018, and is stepping down to focus on her portfolio of other board director roles.

Allan said: ‘A smooth succession plan will allow us to bring in a new CEO with the right experience to take the company to its next stage, thereby ensuring that C4X Discovery continues to deliver on its vision, strategy and, most importantly new therapies to improve the lives of patients with immuno-inflammatory diseases.’

C4X Discovery said that it has started to the recruitment process for a new CEO, searching for someone with strong leadership skills, an international network, and international relations experience in global public markets.

‘This business is one I feel extremely confident and passionate about and I look forward to working with the board to find a suitable CEO successor to continue to drive our new strategy forward with the focus in immuno-inflammatory diseases,’ said CEO Clive Dix.

Shares in C4X Discovery were down by 3.5% at 19.40 pence in London on Tuesday.

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