Immunocore CEO quits; will move to pastures new

Oxford, UK-based biotech Immunocore, the soluble TCR company developing first-in-class biologics that have the potential to transform patient lives, has announced that Dr Eliot Forster has stepped down as chief executive.

Dr Forster informed the board of his decision last week and will be replaced, in an interim capacity, by chief commercial officer Andrew Hotchkiss. Dr Forster will continue to work with Mr Hotchkiss and the Immunocore leadership team to assist the transition and a search for his successor is underway.

Under Dr Forster’s three-year  leadership, Immunocore raised a record-breaking $320 million Series A , from investors including US drug-major Eli Lilly (NYSE: LLY) and UK-based Woodford Investment Management - stunning not just in Europe but even the USA, where only Moderna has topped that. A further $40 million injection from the Bill and Melinda Gates Foundation was secured last September.He also entered into partnerships with AstraZeneca, GlaxoSmithKline and Roche.