Business Weekly - Cambridge, UK

After his appointment to the board of Sareum last week, Riddell has now joined Babraham-based Stem Cell Sciences, replacing cofounder, Peter Mountford, who will take up the post of CTO.

Riddell has 10 years of boardlevel experience in the biotech industry, most recently as non-executive chairman of Surface Therapeutics until overseeing the company's acquisition by Serentis in September 2007.

In a statement, SCS noted Riddell's work with numerous local biotechs in building companies, raising financing and negotiating deals for both public and private companies.

"As a demonstrated successful leader, with extensive expertise in driving the growth of biotech companies, the board believes that Dr Riddell is the appropriate person to lead the company to the next stage in its development," said non-executive chairman, David Dodd.

"SCS is in a pivotal stage of its corporate development and has made great progress in developing and commercialising its innovative stem cell technologies."

Riddell replaces Dr Peter Mountford, co-founder of SCS and CEO since 1999, who will take up the role of CTO.

From his base in Melbourne, Australia, Mountford will "capitalise on his experience and expertise for sourcing and licensing innovative stem cell technologies," the company said.

"We would also like to recognise Dr Mountford, whose vision and determination has helped grow SCS to the global stem cell player it is today," Dodd added.

"In his new role, we look forward to capitalising on his recognised knowledge of the sector to fuel the future SCS product pipeline."