Glasgow-based DeepMatter Group plc, the AIM-listed digital chemistry data and software company, said it will appoint former IP Group CEO Alan Aubrey as its non-executive chairman after its AGM on May 27.
Aubrey takes over from Karen Bach, who is retiring from the board and leaving the group.
DeepMatter shares have fallen 93% over the past 12 months.
“Alan has a successful 20-year track record in founding, developing, and growing disruptive technology businesses,” said DeepMatter.
“He co-founded Techtran Limited in 2002, which was acquired in 2005 by IP Group Plc, a company that develops world-changing science and technology businesses across life sciences, technology and cleantech.
“Alan was appointed IP Group’s CEO shortly after the acquisition and he went on to lead the business to become a member of the FTSE 250.
“Alan brings significant experience to the group in the commercialisation of science and the creation of high growth technology businesses that address global markets.
“Amongst other businesses, Alan has served on the boards of high-profile technology businesses such as Oxford Nanopore Technologies plc and Ceres Power Holdings Plc.
“He contributed to the growth of dozens of businesses in the life sciences, manufacturing and sustainability industries.
“Alan is currently non-executive chairman of OxCCU Limited, an Oxford University spin-out focused using CO₂ and renewable energy to make sustainable fuels, chemicals and plastics.
“He also is a director of both Trellix Limited and Rio AI Limited, which are applying Artificial Intelligence to address business problems.”
DeepMatter CEO Mark Warne said: “On behalf of everyone at Deepmatter, I would like to thank Karen for her valued contribution and support over the last 20 months which sees the business well positioned for the market opportunity ahead of it.
“We are delighted that Alan will join us as we enter the next phase of growth.”
Bach said: “Over the past 20 months the group has built a great team and established the building blocks to commercialise both data and technology.
“I am proud of the progress we made in this early commercialisation phase.
“The business has an exciting delivery phase ahead and I wish the team well.”
Aubrey said: “I am joining Deepmatter at a very exciting and dynamic time.
“Chemistry touches all our lives but the research and development of new chemical formulae remains relatively unsophisticated.
“Our vision is to build the capabilities for scientists to access and exploit vast amounts of chemical reaction data.
“Our SmartChemistry platform provides easy access and exploitation of the data in order to make chemical reaction discovery and design faster, safer, more efficient and increasingly sustainable.
“The recently announced multi-year SmartChemistry contracts with Standigm and Springer Nature are evidence of this.“