Manchester-based pharmacogenetic testing company Genedrive plc said major shareholder and investor David Nugent has joined its board as a non-executive director with immediate effect.
Ian Gilham, who has been chairman of the firm since 2015, has informed the board that he anticipates stepping down by the end of June 2026.
Chris Yates, who has been a non-executive director of the company since 2018, has informed the board that he intends to step down as a director to focus on his other professional commitments.
The Genedrive board is commencing the process to recruit a new independent non-executive chairman as well as two other independent non-executive directors.
“David (Nugent) has been a shareholder in the company for several years and more recently was a key cornerstone investor in the successful equity financing announced on 13 February 2026,” said Genedrive.
“He owns over 25% of the company’s issued share capital and is the company’s largest shareholder. David has volunteered not to be paid a fee for acting as a non-executive director until the company becomes EBITDA positive.”
Gilham said: “On behalf of my fellow directors I am pleased to welcome David onto the board today.
“His support for the company has been critical to funding our continued growth strategy and we look forward to working closely with him as we execute against our plans to increase the sales and adoption of our two pharmacogenetic tests.
“Having served as director of the company since 2014 it is appropriate that we start the process to find a new non-executive chairman and the company will update shareholders on this process in due course.”
Nugent said: “I would like to thank Ian and Chris for their commitment to genedrive and recognise their significant contribution over many years. I look forward to continuing to work with them as we appoint a chair and two independent non-executive directors.
“genedrive is in its strongest position for many years, with two point-of-care pharmacogenetic tests now on the market which offer highly promising commercial opportunities.
“I am excited to be joining the board and working with Gino and Russ as the company drives adoption and executes its commercial strategy in the UK and internationally.”