One of the North East’s most hotly-tipped companies has announced a change in leadership after its long-term chairman and chief executive both stepped down.
QuantuMDx, a Newcastle firm which develops handheld devices to diagnose diseases in remote locations in the developing world, said Elaine Warburton was leaving her position as chief executive while Prof Sir John Burn was stepping down as chairman.
Both Mrs Warburton and Sir John will be staying with the firm, with the former becoming a non-executive director who will also take on an ambassadorial role on strategic projects. Sir John, meanwhile, will become vice-chairman.
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Jonathan O’Halloran, a co-founder of the company and its former chief scientific officer, will become the new CEO while Neil Butler, who joined its board as a non-executive director last year, becomes chairman.
QuantuMDx has raised millions of pounds and built a team of around 100 people at its Newcastle headquarters as it works towards commercialising the medical testing equipment first invented by Mr O’Halloran more than a decade ago.
He said: “QuantuMDx’s Q-POCTM is the first true battery operated, point of care molecular diagnostics device, capable of performing both simple molecular tests and large syndromic and resistance mutation panels rapidly and at a price point appropriate for decentralised testing. The simple to use device has been developed to be robust for in-field testing and designed to manage dust, different ambient temperatures, humidity and intermittent electricity.
“The next stage of our strategy will focus on bringing our transformative diagnostic technologies to market so that diseases can be detected and treated earlier and more precisely, controlling the spread of infectious diseases. With CE Marking for our device expected soon we are excited about the future.”
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Mr Butler said: “On behalf of the board, I would like to thank both Elaine and Sir John for their invaluable contributions to the company. Elaine has successfully raised over $80m equity and non-equity diluting investment whilst at the helm and has worked actively with Jonathan in securing some of the great partnerships we currently have.
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“I am delighted both Elaine and Sir John will be remaining on the board to continue to offer strategic counsel and guidance to the company and I am looking forward to continuing to work with them in their new capacities as we continue to mature towards becoming a global commercial company.”
Both Mrs Warburton and Sir John - who has also held leading positions with Newcastle University and the NHS - have been highly public faces for QuantuMDx.
Mrs Warburton received the OBE in 2014 for services to health innovation, and she was a speaker at the Great Exhibition of the North’s Northern Powerhouse Business Summit last year.
She said: “I have immensely enjoyed leading the team at QuantuMDx for the past 12 years taking the technology from ideation to product.
“As the company transitions into a new stage of development and maturity, I feel it is the right time for me to pass on the baton.
“I have worked with Jono since we co-founded the company back in 2008 and, with his passion, industry knowledge and leadership skills, alongside Neil, who has extensive experience within medical diagnostic companies, I am confident we have the ideal team in place to take the company forward, become a commercial operation and deliver on our exciting future strategy.”