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UK - Astex appoints new CEO

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The Financial Times reports today that Astex has recruited Leon Bushara, a senior executive at Europe's largest biotechnology group Serono, as its chief executive. Astex is a biotechnology group based in Cambridge that has received significant contributions from private equity firms since its founding in 1999, including a ТЃ22.7m funding round in May 2001. Alta Partners, Advent International and Oxford Bioscience Partners amongst others have invested in Astex.

The new appointment, suggests the Financial Times, will encourage speculation that Astex may be looking to float in the coming months. Astex secured a £275m deal with Novartis, the Swiss pharmaceutical group, in December to commercialise its cancer treatments.
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