Physiomics PLC on Monday named Peter Sargent as its new chief operating officer.

Shares in Physiomics were up 21% at 1.90 pence each in London on Monday morning.

The mathematical modelling company that supports oncology drug development said the hire is part of its strategy to revert to a ‘more traditional’ board structure, where the roles of executive chair and chief executive officer are separated.

Under the role, Sargent will help to formulate the firm’s business strategy and drive its execution, focusing on key priorities such as expanding and diversifying its client base, expanding consulting business into pharmaceutical biostatistics, and exploring opportunities for its personalised oncology software offering.

Sargent was previously in a senior management role at Nasdaq-listed Syneos Health Inc, a global consultancy business, and also served as head of Business Development at the UK’s National Institute for Health & Care Research.

Back in January, former COO Christophe Chassagnole’s job title changed to chief scientific officer after the company decided that the new title aligned more closely with his role and responsibilities.

Chair & Chief Executive Officer Jim Millen said: ‘I am delighted that Physiomics has been able to attract a candidate of the calibre of Peter Sargent, who joins us with significant experience of building service businesses in the biopharmaceutical sector.

‘Peter will work closely with myself and my senior management team to set and drive forwards the company’s key business priorities, and I look forward to him making a significant positive impact.’

Copyright 2023 Alliance News Ltd. All Rights Reserved.