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Board of Directors


The Board are responsible for International Biotechnology Trust plc.  The Board of five non-executive Directors sets the Company’s strategy and determines and monitors the Company’s investment objectives and policy. They meet formally four times a year, but also meet informally on other occasions as required.  As is appropriate, they have delegated various functions to other parties, the performance of which are regularly reviewed.


Alan Clifton (Chairman)


Alan was appointed as a Chairman to the Company with effect from 13 April 2012 and had previously been appointed a non-executive Director of the Company on 21 February 2001. Mr Clifton was previously the Managing Director of Morley Fund Management (now Aviva Investors) the asset management arm of Aviva plc, the UK’s largest insurance group. He is currently Chairman of JPMorgan Japanese Smaller Companies Trust plc and of Schroder UK Growth Fund plc and a director of several other investment companies.


John Aston, OBE


John was chief financial officer at Astex Therapeutics Ltd between January 2007 and May 2010. Before joining Astex, John was chief financial officer of Cambridge Antibody Technology for ten years. Prior to this, John was a director in investment banking with Schroders in London and previously worked for British Technology Group and Price Waterhouse. He is a qualified Chartered Accountant and has a degree in Mathematics from Cambridge University. John is also a non-executive director of the Polar Capital Healthcare Growth and Income Trust plc and Regenerative Medicine Assets Ltd.



Véronique Bouchet


Dr Bouchet is the  Founder Director of Novudel Associates, a lifesciences consulting and coaching consultancy company. Prior to this position she was  Director of Corporate Strategy and Head of Venture Capital Relations at AstraZeneca PLC. In addition Veronique has held a variety of international roles in the healthcare industry across several therapeutic areas and functions, including drug development, product strategy, medical marketing, business development, corporate strategy and mergers and acquisitions, at AstraZeneca in the UK and Grunenthal GmbH in Germany. She has also worked in venture capital, as an investment manager with the Rothschild Bioscience Unit in London. She is a Trustee of Breast Cancer Campaign UK and a member of the Council of Queen Mary, University of London.


She has an MB BS from St Bartholomews's Hospital Medical School, holds a BSc in Psychology from University College London,  and a Diploma from the Royal College of Obstetricians and Gynaecologists. She has been awarded an MBA from INSEAD, has a Diploma (Distinction) from the Coaching Academy UK, and has been awarded the Institute of Directors' Diploma in Company Direction (Distinction).


David Clough


He was appointed as a non-executive Director of the Company on 25 February 2004. Dr Clough was Director of Research at Roche in the UK between 1986 and 1999. He was responsible for over 300 staff with departments covering chemistry, biology and pre-clinical development.



Jim Horsburgh


Jim commenced his career in investment management in 1977, joining Hill Samuel Investment Management as a Graduate Trainee. He moved to the ICI Pension Fund in 1979, where he held the positions of Investment Analyst and Portfolio Manager, with responsibilities across both UK and US portfolios.

Jim then joined Abbey Life Assurance Company in 1982, as a Fund Manager of two unit trusts, and subsequently managed the Company’s flagship life and pension equity funds. In 1984 he joined Schroder Investment Manager (“SIM”) as UK Pension Fund Manager and subsequently became an Account Director, a Director and in 1995, Deputy MD of SIM (UK). In 1998 Jim was promoted to UK MD responsible for, amongst other things, ensuring that investment strategies, including asset allocation met clients’ needs. Jim left Schroders in 2001 and, following a career break, was Chief Executive of Witan Investment Trust plc from February 2004 to October 2008.


Jim holds an MA in Economics and Statistics from the University of Edinburgh.