London Daily

Focus on the big picture.
Monday, Jan 13, 2025

COVID testing tsar Sir John Bell quits board of Oxford spinout vehicle OSE

COVID testing tsar Sir John Bell quits board of Oxford spinout vehicle OSE

Professor Sir John Bell, a founding director of Oxford Science Enterprises, has resigned amid a slew of boardroom changes at the company.
Professor Sir John Bell, the scientist who served as Boris Johnson's COVID testing tsar, has quit the investment company which backs start-ups created from Oxford University's academic research.

Sky News has learnt that Prof Bell, who is regarded as one of the world's leading medical scientists, stepped down as a non-executive director of Oxford Science Enterprises (OSE) several weeks ago.

One source close to the company said he had decided to resign, and that the company had sought to persuade him to stay on.

Prof Bell, who serves as Oxford's Regius Professor of Medicine, was among OSE's founding directors.

The timing of his resignation was described by the source as significant, with OSE in the middle of a search for a new chief executive.

OSE, which used to be called Oxford Sciences Innovation, is an investor in dozens of companies, including Vaccitech, which created the biotech platform behind AstraZeneca's COVID-19 vaccine.

It also counts First Light, the nuclear fusion energy start-up, and Animal Dynamics, a deep-tech company, among its portfolio.

In an internal memo announcing Prof Bell's departure from the board and which has been seen by Sky News, OSE said: "It is with great regret that we announce Professor Sir John Bell has decided to step down from the board of the company to focus on other commitments.

"John was a founding director of OSE and has played a vital part in the development of the company since its creation in 2015."

The memo quoted Chris Chambers, OSE chairman, as saying: "John's wise counsel will be sorely missed, and we owe him an enormous debt of gratitude for his support and friendship over the years.

"I am grateful that John has offered ongoing support for OSE, and he will remain close as we continue to grow the portfolio and support the Oxford Science ecosystem."

Professor Bell said in the memo: "My current commitments are such that I do not have sufficient time available to fulfil my duties as a director of OSE and so, reluctantly, following last year's successful fundraise, I have decided that this a good time to retire from the board.

"I have been part of OSE since it was set up, am proud of the work it has done to develop Oxford's ecosystem, and will continue to support OSE in any way I can."

The exit of Alexis Dormandy as chief executive of the Oxford spinouts vehicle came just months after it raised £250m from shareholders in a rights issue.

Two sources told Sky News in December that Mr Dormandy had effectively been forced out of the role.

Mr Dormandy was a prominent recruit to run OSE in 2020, having started his career at Sir Richard Branson's Virgin Group, where he helped to launch Virgin Mobile and Virgin Active.

OSE has a roster of blue-chip group of investors regarded as rivalling any comparable vehicle in the world.

Among its publicly disclosed shareholders are Google Ventures, Sequoia Capital and Temasek Holdings, the Singaporean state fund.

Huawei Technologies, the Chinese telecoms technology giant, is also a shareholder.

The company has endured a turbulent period in terms of management churn, with several chairs and senior executives quitting in a short space of time.

Co-founded by Alex Snow, the well-known City executive, OSE said its search for a successor to Mr Dormandy was continuing "as planned".

Among the other start-ups it has backed or created are Osler, a blood diagnostics venture, and Bibliu, a digital textbooks platform.

Last year, two of its portfolio companies - MiroBio and DJS Antibodies - were sold to global pharmaceutical companies for a combined consideration of $655m.
Newsletter

Related Articles

0:00
0:00
Close
Former Special Forces Blast Defense Ministry for Revealing Sensitive Details
Celebrity Responses to California Wildfires: Charity, Criticism, and Controversy
The Wildfires of Los Angeles: A Devastating Impact on Celebrities and California's Leadership
Tragic Loss: Teenager's Death Sparks Community Reflection in Bedford and London
UK Government Proposes Cap on Resale Ticket Prices to Combat Touts
Greenland's Future Caught in Diplomatic Crossfire Between Trump and Europe
EU Prepared to Lead Support for Ukraine Amid US Uncertainty, Says Estonian Prime Minister
Brompton E-Bike Component Diverted to UK Military Drone Production, Causes Delays
Romanian Gang Convicted of Human Trafficking and Exploitation in Dundee
Persistent Cold Snap Grips the UK: Severe Frost and Snow Disrupt Daily Life
Germany Faces Alarming Rise in Homelessness, New Report Shows
China’s Appetite for Salmon: A Game Changer in Global Seafood Markets
Russian Bots Allegedly Amplified NATO Critic Prior to Croatian Election, Researchers Reveal
Armenia Considers EU Membership Referendum Amid Strained Ties with Russia
French Finance Minister Explores Pension Reform Compromise to Secure Budget Agreement
Armenia Considers EU Referendum Amid Growing Rift with Russia
New Wildfire Ignites in Los Angeles as Region Battles Devastating Blazes
The Espionage Unraveled: A Russian Spy Network's Intricacies in the UK
U.S. Supreme Court Rejects Trump's Bid to Delay Sentencing in Hush Money Case
UK Financial Markets Remain Calm Amid Rising Government Borrowing Costs
Stellantis Achieves UK Electric Vehicle Sales Mandate Amid Factory Closure
TikTok Faces Potential Ban in the United States Amid Security Concerns
Pound Plummets to 14-Month Low Amid Concerns Over UK Borrowing Costs
Tensions Rise Over Planned Pro-Palestinian March in London
Bomb Scare in Central London: Abandoned Car Sparks Panic Near Regent Street
Police Seek Suspect in Antisemitic Incident at Liverpool Street Station
Regulatory Reprimand for London Charity Over Fundraising for Israeli Soldier
The Duchess of Sussex Mourns Devastating Loss of Beloved Rescue Dog
From Chairman to Controversial Politician: Rupert Lowe's Journeys in Business and Politics
Metropolitan Police Halts Pro-Palestine March Near BBC Due to Proximity to Synagogue
Inside Warwick Hospital: A Glimpse into the NHS's Battle Against Winter Pressures
Chappell Roan: A Synth-Pop Sensation Emerges as BBC Sound Of 2025 Winner
Search Intensifies for Missing Aberdeen Sisters Eliza and Henrietta Huszti
Pioneering Drug Consumption Room Opens in Glasgow
Ryanair Initiates Legal Action Against Disruptive Passenger in Landmark Case
Former Brexit Negotiator Oliver Robbins Appointed Top Civil Servant at UK Foreign Office
British Hiker Found Deceased Amidst Dolomites Search: Investigation Underway
Pound Falls as UK Borrowing Costs Reach Financial Crisis Levels
Italian Journalist Cecilia Sala Released from Iranian Detention
OpenAI CEO Sam Altman Faces Allegations of Childhood Sexual Abuse by Sister
OpenAI CEO Sam Altman Denies Sister's Allegations of Sexual Abuse
UK Markets Under Pressure as Gilt Yields Surge
Arrest Made in Connection to Stabbing of Iranian Journalist in London
Arrest Made in Fatal Drive-By Shooting Outside London Church
Parliamentary Suspension Over Racist Remarks Highlights Tensions in UK Politics
Debate Intensifies Over Call for Child Abuse Inquiry Amidst Musk's Comments
Mark Zuckerberg's U-Turn: Moving Toward Free Speech on Facebook and Instagram, For a Change
Britain's authorities' support for pedophiles has gone insane
Canadian Prime Minister Justin Trudeau has finally announced his resignation from a role he should never have held in the first place
This is what is left of the oceanfront homes in Malibu, California.
×