Oxford Nutrascience promotes chairman Marcelo Bravo to executive position

Oxford Nutrascience Group PLC (AIM: ONG) is promoting non-executive chairman Marcelo Bravo to the executive chairman position.

The group said in a statement Bravo Marcelo spent 16 years in R&D with Procter & Gamble Co (NYSE: PG), subsequently spent three years in corporate development with Boots and is also an experienced entrepreneur.

Oxford Nutrascience intends to appoint an additional non-executive director and an announcement will be made as and when appropriate.

Chief executive Nigel Theobald commented: “The company is looking to work with a number of the major brand owners in the Over the Counter and prescription pharmaceutical sectors. Marcelo has considerable experience of these companies and we look forward to benefiting from his increased contribution.”

Oxford Nutrascience is a UK consumer healthcare company that develops chewy confectionery, chewable tablets and liquid suspensions for delivery of medicines and vitamin supplements.

Oxford Nutrascience has developed technology for the use of prebiotic soluble fibres in medicine delivery systems that disperse and solubilise medicines.  It currently produces Ellactiva, a calcium chewy supplement sold in the UK and in the Middle East, and plans to launch new chews to complement this product.

The target market for Oxford Nutrasciences' Chewitabs and liquid suspension delivery systems are over-the-counter (OTC) pain relieving drugs, indigestion preparations and cough and cold medicines.  Its medicine development work is currently focused on ibuprofen suspension and chewable allergy tablets incorporating loratadine.

http://www.proactiveinvestors.co.uk/companies/news/13811/oxford-nutrascience-promotes-chairman-marcelo-bravo-to-executive-position-13811.html