Shares of Manchester-based pharmacogenetic testing compan Genedrive plc fell as much as 10% after it announced that CEO James Cheek has left the company “with immediate effect by mutual agreement” after only 11 months in the role.

Cheek has been succeeded as CEO by Gino Miele, currently chief scientific officer (CSO), who has been with the company since 2011.

Prior to joining Genedrive, Miele served as an associate director for clinical translational genomics at Wyeth and Pfizer.

“Gino has been a key driver in the development of the genedrive instrumentation and products, positioning the Company at the forefront of pharmacogenomic testing in emergency healthcare settings and with the wider team has facilitated regulatory approval processes for the products throughout the UK, Europe and the Middle East,” said Genedrive.

“Gino was instrumental in the NICE approval processes for both the Genedrive MT-RNR1 ID Kit and the Genedrive CYP2C19 ID Kit, securing the Group’s clinical trial agreement in the U.S., the recent FDA breakthrough device designation, and together with the genedrive commercial team is actively involved in generating a growing list of revenue opportunities in the UK and more widely.”

Genedrive chairman Ian Gilham said: “Gino has an unparallelled knowledge and understanding of the Company, products and commercial strategies.

“I have every confidence that the leadership team, headed by Gino and strongly supported by our Chief Financial Officer, Russ Shaw, will lead genedrive to a successful future.

“I would like to thank James for his contributions at genedrive and, on behalf of the board, wish him well for the future.”