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Aquapharm Strengthens Management Team with Appointment of New Chairman and CFO

Aquapharm Biodiscovery, a leading marine biotechnology company, today announces the appointment of Steve Harris as non-executive Chairman of the board, with immediate effect. Mr. Harris replaces Ron James, the outgoing chairman, who is retiring. The Company also announces the appointment of Sandy McDougall as Chief Financial Officer.

Mr. Harris has over 40 years experience in the pharmaceutical and biotech industry having worked with a number of public and private companies and gained extensive know-how in the areas of business development, licensing and financing. As Chairman of Aquapharm’s board, he will guide and contribute to the ongoing development of the Company, both in terms of future financing and also as Aquapharm drives forward the discovery and development of its products. He is currently non-executive Chairman of UK-based companies Proteome Sciences plc and Cyprotex plc and a non-executive Director at Advanced Medical Solutions Group plc.

Prior to joining Aquapharm, Mr. Harris has held a number of non-executive directorships, including at Sinclair Pharma plc and Skye Pharma plc. From 1990-1995 he was Director of Development and Licensing at Medeva plc where he was instrumental in many of the licensing and acquisition deals conducted during the period. Earlier in his career Mr. Harris held a variety of sales, marketing and general management positions in multinational companies, including ICI (now AstraZeneca), Merck Sharpe & Dohme, Eli Lilly, Boots, and Reckitt & Colman.

In addition, Sandy McDougall has been appointed as Chief Financial Officer. Mr. McDougall joins Aquapharm from Healthcare software provider Craneware plc, where in his position as CFO, he saw the company through a successful and award-winning IPO on AIM in 2007. Mr. McDougall brings extensive experience in fundraising, IPOs and M&A having worked in the life sciences sector for the past 10 years. During this time Mr. McDougall served as CFO and later as a non-executive director of PanTherix Ltd.

Dr. Andrew Mearns Spragg, CEO of Aquapharm commented: “We would like to thank Ron for his highly valued contribution. Over the last 6 years under his guidance, the Company has progressed significantly and we now stand in a good position to welcome Steve and Sandy. We will particularly value Steve’s experience in guiding fast growing and successful biotech companies and Sandy’s track record of success in raising both private and public funding.”

Commenting on his appointment, Mr. Harris said: “I look forward to working with Aquapharm during the next important stages in the Company’s development. I share the Company’s vision and look forward to helping the business move forward. Developing novel anti-infective agents will meet an unmet clinical need, as big pharma have left the field. I also see great commercial potential in maximizing on the diverse applications of the novel chemistry emerging from Aquapharm’s proprietary library of marine micro-organisms.”

Commenting on his appointment, Mr. McDougall said: “I am excited to be joining Aquapharm as CFO at this important stage in its development, where I can use my financing experience to help the Company advance its leading position in the field.”

About Aquapharm Biodiscovery Ltd.

Aquapharm, founded in 2000, is a leading marine biotechnology company based at the European Centre for Marine Biotechnology in Oban, Scotland. Aquapharm is developing new products based on novel chemical diversity isolated from marine micro-organisms. With a primary focus on developing pharmaceutical agents to treat infectious disease, inflammation and oxidative stress, the company is also exploiting further applications in the areas of nutrition, personal care and biocatalysis.

Aquapharm’s library of marine micro-organisms contains a significant collection of marine bacteria & fungi obtained from samples collected from diverse marine habitats, including the arctic and the deep sea. Aquapharm’s patented technology base allows the manipulation of these diverse marine microbial communities to stimulate the production of biologically active products with novel chemical diversity.

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