Kalytera Therapeutics, Inc. (TSXV: KALY) (OTCQB: KALTF), a clinical-stage pharmaceutical company developing cannabinoid therapeutics for Graft versus Host Disease (“GvHD”), today announced the appointment of Ronald P. Erickson as Interim Chairman of its Board of Directors. Kalytera also announced the resignations of Jerome B. Zeldis, M.D., Ph.D., Director, and David Stefansky, Chairman.
“We are grateful to Dr. Zeldis and Mr. Stefansky for their service to Kalytera, and feel fortunate to have had the benefit of their counsel. Both have played critical roles in the success of Kalytera, helping transform the company, most recently through their guidance during the acquisition of Talent Biotechs and its clinical-stage Graft versus Host Disease program,” said Robert Farrell, President, CFO, and COO of Kalytera. “The appointment of Mr. Erickson as our Interim Chairman will provide Kalytera with guidance from a seasoned business executive with a substantial network and significant experience in growing companies in the pharmaceutical sector and other industries.”
Kalytera Therapeutics is a clinical-stage pharmaceutical company developing cannabinoid therapeutics. Through its proven leadership, drug development expertise, and growing intellectual property portfolio, Kalytera seeks to establish a leading position in the development of novel cannabinoid medicines for a range of important unmet medical needs, with an initial focus on Graft versus Host Disease (“GvHD”).
Kalytera is also developing proprietary cannabidiol (“CBD”) prodrugs intended for commercialization as FDA and EMEA-approved prescription medications. CBD has shown activity against a number of pharmacological targets. However, there are limitations associated with CBD, including its poor oral bioavailability. Kalytera’s CBD prodrugs have been designed to overcome these limitations. In addition to licensed IP rights, Kalytera has filed composition of matter and method of use patents covering its inventions to reinforce its position in the market.
This news release contains “forward-looking information” within the meaning of applicable securities laws, including in respect of its product candidate pipeline, planned clinical trials, regulatory approval prospects, intellectual property objectives, management goals, capital raising abilities and other statements included in this news release of a forward-looking nature. Although Kalytera believes in light of the experience of its officers and directors, current conditions and expected future developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking information are reasonable, undue reliance should not be placed on them because Kalytera can give no assurance that they will prove to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of this release. Kalytera undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect of Kalytera, its securities, or its respective financial or operating results (as applicable). Kalytera disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws.
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