Gender pay gap

Allergy Therapeutics is a market leading, pioneering immunology business with specialist experience in the research and development of allergy treatments.  We attract the very best people who want to be a part of a visionary business and have the opportunity to influence and transform immunology.

We believe our people are our strongest asset and we are committed to providing our employees with the opportunity to grow, develop, and reach their full potential. Our business has an entrepreneurial approach with a people focused culture delivering flexible working solutions for all employees.

Gender pay gap and equal pay are two terms that are often confused.

• Equal pay refers to the legal requirement that within an organisation, male and female staff members who are engaged in equal or similar work, or work of equal value, must receive equal pay and other workplace benefits
• The gender pay gap is a broader measure of the difference in the average earnings of men and women - regardless of the nature of their work - across an organisation, a business sector, an industry or the economy as a whole. It is expressed as a percentage of men’s earnings

Allergy takes all possible steps to ensure we are fully compliant with equal pay legislation, paying male and female staff members equal pay for work of equal value.

This paper focuses rather on our gender pay gap.

Please see our pay gap calculations below, as at 5^th April 2023:

What is causing our gap?

This year our mean and median pay gaps increased after a number of years of getting smaller.

Our analysis suggests that our pay gap continues to be primarily a result of the imbalance between numbers of women and men at different levels within the Company.  We continue to employ more women than men overall.

In this snapshot we saw the inclusion of a number of contractors, including an Interim Chief Financial Officer, who joined us on a temporary basis to deliver a specific project.  The nature of contracting is that salaries are typically higher, and role holders are more likely to be male.  This has made a difference to our figures.

In addition, we have significantly more women than men in less senior roles. As a result, our pay gap is driven almost exclusively by the gender imbalance in our upper and lower quartiles of employees. The fact that our workforce as a whole has more women than men, giving us the opportunity to bring talent through

Our quoted Mean and Median Bonus Gaps are also exceptional this year, switching to a gap in favour of female employees.  This is due to the fact that only our sales team received any bonus this year due to the structure of their reward packages, all of the UK sales team are female.  In fact, only three employees received any bonus in this period.

We should continue to review the progress of this metric in more typical years, where a larger number of employees receive a bonus.

Our aims

With regards to our senior leaders, we are continuing to work towards our previously stated aims of having:

• a 50:50 male / female composition of our Executive Team by 2023 (not achieved, continued work in progress)
• a 70:30 male / female composition of our Board of Directors by 2025 (achieved ahead of time, in Autumn 2021)

What are we doing to reduce our gaps?

• We will continue to recruit women into roles at all levels, and continue to encourage women to apply for senior roles
• Continuing to promote a variety of flexible working options for all employees
• Through our performance management and talent management processes, we are identifying women with potential to progress to senior positions, and our You Make The Difference and other development programmes are helping to accelerate progress to those roles
• We will continue to use insights from our employees to better understand their needs and identify opportunities where we can better support women in the workplace
• We continue to work with local schools, encouraging consideration of STEM careers, and offering work experience opportunities
• We continue to run a number of activities to support a diverse and inclusive workplace
• We continue to proactively address the impact of the wider societal gender pay gap by ensuring salary decisions made at the recruitment stage are not based on an individual’s previous salary

Allergy Therapeutics is committed to achieving gender balance and our aim is to use our ongoing initiatives to continue to improve on this. We are determined to be an inclusive and diverse company and we will nurture the attitudes and mind-sets required to achieve this.

Declaration

We confirm that our data is accurate and has been calculated according to the requirements of the Equality Act 2010 (Gender Pay Gap Information) Regulations 2017.

Manuel Llobet - Chief Executive Officer

Lindsay Taylor-King - Human Resources Director

For further information please contact:

Lindsay Taylor-King - lindsay.taylor-king@allergytherapeutics.com