Magnitude Biosciences Ltd is an innovative and forward-thinking business that provides contract research services with the nematode worm C. elegans, using its unique technology to provide quantitative, reliable data. The company has recently completed a third investment round and operates by providing a quick, cost-effective means of screening drug candidates for neurological, ageing and other indications. Magnitude has proprietary technology that offers potential insights into the mode of action as well as efficacy and toxicity that is complementary to other studies (not either or). Customers include small and midsize biotech’s, larger consumer goods companies and academic institutes. Revenues are growing and the company is currently evaluating the potential for additional revenue streams by leasing hardware and licensing software.
As the company grows, it is seeking to appoint an independent Non-Executive Board Director (and ideally Chair of the Board) to oversee the company’s progress, to give an objective view of the business, to convey unbiased opinions and to contribute to the decision-making process.
As a company ambassador, the ideal candidate will have a background in Life Sciences and have experience of being a senior executive, NED or Chairman of a biotech, pharma or high-growth start-up. Any experience of research in the fields of ageing, microbiome, neurodegenerative disease or toxicity would be an advantage. The role holder should have a track record of either buying or selling from a CRO in one or more of the areas noted above or past experience of growing a business in one or more of these fields.
The role holder will also bring experience in strategic transactions involving partnering, licensing and acquisitions and disposals. Impressive decision-making skills will be coupled with good analytical and organisational skills and the ability to build strong collaborations.
The company is located in County Durham.