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Sofronis bows out as chairman

Kevin Feddy
1/ 9/2008

THE chairman of Macclesfield-based drug testing business Cyprotex has quit after six months at the helm and just days after the company posted its maiden profits.

Nikolas Sofronis, who will remain a non-executive director, was replaced by Steve Harris, 66.

Mr Harris has extensive experience as a director of private and public companies in the life sciences sector.

His other current roles include being chairman of the listed firms Proteome Sciences and Sinclair Pharma. He is a non-executive director at Cheshire's Advanced Medical Solutions.

Last week, Cyprotex posted pre-tax profits of £56,000 for the six months to June 30, after revenues climbed 33 per cent from £1.7m to £2.25m.

Chief executive Dr Anthony Baxter, who was appointed earlier this year, said: "Nikolas carefully steeered the group, overseeing management change, the bolstering of its capital base and the first genuine financial rewards following several years of strategic investment.

"Nikolas leaves Cyprotex well-positioned to build on its strengths. Steve will bring valued expertise."