Avingtrans PLC (LON:AVG) has announced that further to the statement made on 14 December 2022, Adaptix, the Oxford based emerging MedTech Company, has appointed Willem Baralt as its new Chairman. Willem, previously of Quanta Dialysis Technologies, will succeed Steve McQuillan (CEO of Avingtrans), who was appointed to the Board of Adaptix in December 2022 in an interim capacity. Steve will continue as a Non-Executive Director of Adaptix.
In 2021, Avingtrans plc invested £4m in Adaptix, for an 11.9% stake in the business and in December 2022 announced a further investment of £2m by means of a Convertible Loan Note.
