Concepta Announces Two Senior Appointments and Grant of Options
16 February 2018
Concepta plc (AIM: CPT) the UK healthcare company and developer of a proprietary product targeted at the mobile health market with a primary focus on women's fertility, is pleased to announce the appointment of David Darrock, Chief Operating Officer of the Concepta group, as a director of Concepta Diagnostics Ltd.
David joined Concepta in October 2017 as Site Director for our Doncaster operation. He has significant experience managing Chinese supply chains, so in addition to managing the Company's manufacturing site in Doncaster, David will also be heading the supply chain management process to ensure volume requirements are met as the Company scales its operations.
In view of his promotion, on 15 February 2018, David Darrock has been granted share options ("Options") to subscribe for up to 1,000,000 ordinary shares of 2.5 pence each in the capital of the Company ("Ordinary Shares") as follows:
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Chief Operating Officer
The options are exercisable in three equal tranches over the three-year period from the date of grant, pursuant to the rules of the Company's Share Option Plan. The options have an exercise price of 5.95 pence per share, being the closing mid-market price of the Company's Ordinary Shares at 14 February 2018.
Alongside David's appointment, and to strengthen the China team, Michelle Yao has been appointed as China General Manager, and will be reporting to Zhang Zi Gang, the UK-based Head of China.
Michelle has previously worked for Alere in China as Marketing Manager and recently ran her own company in the medical diagnostic device sector. She will lead the China operational team and work with distributors, logistics and marketing operations to support the market penetration of the MyLotus products in China.
Erik Henau, CEO of Concepta stated: "On behalf of the Board, I am delighted to announce these two senior appointments.
"David joined us in October last year and in a short period, he has made an invaluable contribution to the advancement of our operations from small batch laboratory-based production to industrial manufacturing scale. He has played a pivotal role in streamlining the supply chain, to ensure the effective delivery of our products to our customers, and we are delighted to welcome him to the Board of Concepta Diagnostics Ltd.
"Additionally, Michelle's experience and market knowledge will not only be essential in ensuring an effective launch of myLotus in China to augment market awareness, but also in maintaining the ongoing marketing operations thereafter. We are thrilled that Michelle has joined Concepta and we are very much looking forward to working alongside her."
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Chief Operating Officer (PDMR)
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Concepta plc Shares
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Grant of Options over Ordinary Shares
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About Concepta Plc:
Concepta plc is an AIM-quoted pioneering UK healthcare company that has developed a proprietary product, myLotus, targeted at the personalised mobile health market with a primary focus on unexplained infertility* in women.
myLotus is currently the only consumer product which allows both quantitative and qualitative measurements of a woman's personal LH and hCG* hormone levels in a home test, facilitating higher conception rates and early diagnosis of issues with fertility hormones. The proposition of myLotus is to help women conceive naturally.
Concepta has made significant progress recently, establishing agreements with a number of distributors in China where myLotus has been given cFDA approval. Concepta is initially targeting the traditional route to market in China through Chinese hospitals and plans to add the direct-to-consumer route in the near future.
The Company is also well on its way to achieving CE-marking and commencing its direct-to-consumer launch in the UK and Europe in H1 2018. The Company has identified a significant global market opportunity, with revenue potential of the Chinese and EU unexplained infertility market estimated to be worth c.£600m per annum.
*Unexplained infertility refers to women that have been unable to conceive after 6 months of trying. This highly motivated target group of consumers won't typically be offered medical intervention until 12 months of unsuccessfully trying, with IVF not offered until two years. Research indicates couples start to take positive action ahead of this time and there is little medical support to help them do so.