Christopher Hill, who has served as Adaptimmune’s Chief Financial Officer since September 10, 2025, was named Chief Executive Officer effective November 14, 2025, while retaining his CFO responsibilities. The dual role reflects the company’s intent to maintain continuity in financial stewardship during a period of strategic transition.
Former CEO Adrian Rawcliffe departed the company in connection with the restructuring, and former Chief Operating Officer William Bertrand also left the organization. On the board, Lawrence Alleva, a long‑time director, was elected Chairman, succeeding David Mott, while Garry Menzel will continue to serve on the board.
The leadership changes follow Adaptimmune’s voluntary delisting from Nasdaq, which took effect on October 28, 2025. The delisting was driven by the company’s inability to meet Nasdaq’s minimum bid price and market‑value requirements, coupled with the costs of maintaining a public listing. The move to the OTC Pink Limited Market is intended to reduce regulatory expenses and provide a more flexible environment for the company’s restructuring efforts.
Strategically, the company is positioning itself for a commercial‑stage business model, focusing on its PRAME‑ and CD70‑directed cell‑therapy pipeline. The July 31, 2025 transaction with US WorldMeds, which closed the sale of TECELRA and other candidates, was structured to preserve key assets while freeing capital for development and commercialization. The new CEO’s dual CFO role signals a continued emphasis on disciplined financial management as the company scales its pipeline and seeks to generate revenue from its most advanced programs.
These governance changes aim to streamline decision‑making, reduce operating costs, and align the board with the company’s new commercial focus. By consolidating executive leadership and adjusting board composition, Adaptimmune seeks to strengthen oversight, improve strategic execution, and position the company for future growth in a more cost‑efficient public‑company environment.
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