ProteinLogic appoints new Chairman and concludes successful rights issue

CAMBRIDGE, UK (2011-10-04) – ProteinLogic, the biomarker discovery and exploitation company, has appointed Dr Paul Rodgers as Executive Chairman.

Dr Rodgers is an entrepreneur with thirty years’ experience in the life sciences industry, who has co-founded ten biotechnology companies. Paul has led a number of companies from start up to technology commercialisation and achieved significant exits for early stage investors. A seasoned Board Director, Paul has experience in the healthcare, agriculture and food sectors of biotechnology with particular experience in biomarkers. Most recently, Paul has served as Chairman of Psynova Neurotech Ltd, a company focused on the commercial development and exploitation of novel biomarkers for Neuropsychiatric and other mental illnesses, from start up through to its recent acquisition by Myriad Genetics Inc.

ProteinLogic completed a successful rights issue in September by offering all existing shareholders the opportunity to purchase new shares in the Company. The rights issue, which raised the targeted £350,000, was heavily oversubscribed.

ProteinLogic’s outgoing Chairman Dr Frank Lucas, who stepped down from the Board on September 30th, said: “The rights issue was a resounding demonstration of confidence by shareholders in the Company’s potential. The Board believes that Paul’s skills, knowledge and expertise will help progress the Company’s development plan to the next stage and I support fully his appointment.”

The Board wishes to express its very grateful thanks to Dr Lucas for his hard work, astute leadership and wise counsel during his tenure as Chairman over the years. Dr Lucas was appointed to the Board of ProteinLogic in 2005 and took up his role as interim Chairman in 2006.

Dr Rodgers said: “I am delighted to be joining the Company at this exciting stage of its development and I would like to thank the shareholders for their continued support as well as Loeb Aron & Company Ltd. and Hewitsons LLP for assisting and advising the Company in its equity raising efforts.”

For further information, contact Claire Sefton, Communications, on 07585958576