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Avacta Shares Edged 10.2% After Appointing a New Board Director

Analyst Team trader
Updated 19 Jun 2023

The Avacta Group Plc (LON: AVCT) share price edged 10.2% higher after announcing the appointment of Shaun Chilton to the company’s board as a Non-Executive Director. Shaun was previously the Chief Executive Officer (CEO) of Clinigen, a formerly listed company.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


Clinigen was sold to Triton Partners for a total consideration of c.£1.3 billion in April 2022, relieving Shaun of his duties as CEO. Under his leadership, Clinigen expanded through an organic and buy-and-build strategy, including completing several transformational takeovers.

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Shaun’s previous company was a global pharmaceutical and pharmaceutical services platform business. Therefore, he has significant experience in the healthcare industry that should come in handy in his new role as a non-executive director at Avacta.  

He was also the  Non-Executive Chairman of C7Health, a disruptive, venture capital-backed medical technology and services business which executed an acquisitive growth journey before being acquired by a strategic buyer in 2022.

Shaun has held multiple senior and executive commercial positions over 30 years in pharmaceutical and pharmaceutical services companies. These include Sanofi, Pfizer, Wolters Kluwer Health and KnowledgePoint360 Group (now part of UDG Healthcare).

Dr Eliot Forster, Chairman of Avacta’s Board, commented: “Along with my fellow Directors, I am delighted to welcome Shaun to the Board of Avacta Group. He brings a wide range of highly relevant commercial experiences from successful healthcare businesses with similar ambitions for growth that we have in Avacta. I know Shaun will positively impact our shared thinking, and I'm excited to have him join the company.”

Shaun Chilton, Non-Executive Director of Avacta Group, commented: “Avacta Group is building a high-value, global business that is seeking to significantly improve people's health and well-being. I am excited to leverage my own broad experience of growing healthcare businesses and working with the other members of the Board to help guide Avacta to meet its very significant potential.”

*This is not investment advice. 

Avacta share price. 

The Avacta share price edged 10.199% higher to trade at 110.75p, from Friday’s closing price of 100.50p.


YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY.


The AskTraders Analyst Team features experts in technical and fundamental analysis, as well as traders specializing in stocks, forex, and cryptocurrency.