Andrew Wood has stepped down from the board of biotech firm Oxford Biomedica, where he was chief financial officer.

Tim Watts has been appointed to the board as chief financial officer and company secretary, with Mr Wood – who has worked for the firm since 1996 – staying as an employee to ensure a smooth transition.

Mr Watts is a senior financial executive with more than 30 years’ experience in the industry, most recently as chief financial officer at Archimedes Pharma.