Published: April 2, 2026 at 1:02 pm
The chairman of Physiomics plc has been accused of ‘personally derailing’ a boardroom coup and putting himself before the needs of the company.
Physiomics is a mathematical modelling, data science and biometrics company which supports the development of new therapeutics and personalised medicine solutions.
Non-executive chair Dr Jim Millen is set to become executive chair ‘for as long as is needed’ when CEO Dr Peter Sargent departs on 29th May 2026.
Dr Millen was formerly the CEO of the Oxfordshire company from 2016 to 2024, during which time he grew the business from total income of under £300k to a peak of over £900k, as well as securing a major contract with long-term client Merck KGaA and kicking off the company’s personalised medicine initiative.
However last month Physiomics was forced to cancel a share placing and retail offer when an activist shareholder group – led by Michael Whitlow – sought to replace its entire board and accused corporate leadership of “severe erosion of shareholder value” via dilution.
A revised placing and retail offer was then announced. An insider told BusinessCloud that the dissident group has confidence in the operational team – but trust had been eroded in the corporate leadership.
Now sources have informed us of what they call a “disheartening sequence of events”.