Kalytera Therapeutics, Inc. (TSX VENTURE: KLY and OTCQB: KALTF) (the “Company” or “Kalytera”) today announced changes to the Company’s Board of Directors (the “Board”). Mr. Robin “Rob” Hutchison has joined the Board to fill the vacancy created by the resignation of Mr. Gary Leong, an independent director who also served on the Company’s Audit and Governance and Nominating Committees. Mr. Hutchison, who is an independent director, will also serve as a member of the Company’s Audit, Compensation and Governance and Nominating Committees.
“Rob brings a wealth of financial and business experience to Kalytera,” commented Ron Erickson, Chairman of the Board. “Rob has significant expertise regarding intellectual property, patents, business valuations, and business management. We are very pleased that he has agreed to join our Board, and we look forward to his contributions as we continue to execute on our strategy in the years to come.” Mr. Erickson also stated that, “Gary Leong has made invaluable contributions to Kalytera during his tenure. On behalf of the Company, we are grateful for his service and dedication.”
Mr. Hutchison currently serves as President, CEO and Chairman of RMR Science Technologies, Inc., a Canadian Capital Pool Company listed on the TSX Venture Exchange. In 2007 Rob founded biOasis Technologies, and served as President, CEO and Executive Chairman of biOasis through December 2017. From 2013 – 2015 Mr. Hutchison also served as Executive Chairman of Biommune Technologies (now named Pascal Biosciences), a company he formed to acquire certain biotechnology assets from the University of British Columbia.
Robert Farrell, Kalytera’s President and CEO stated that, “Mr. Hutchison brings extensive financial and business experience to Kalytera, and we welcome him to the Board.” Mr. Farrell went on to say, “I would like to thank Gary Leong for his dedication to the Company, and for the good judgment and guidance that he provided to the Company during his tenure on the Board.”
Kalytera Therapeutics, Inc. (“Kalytera”) is pioneering the development of a next generation of cannabinoid therapeutics. Through its proven leadership, drug development expertise, and 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 and the treatment of acute and chronic pain.
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This press release may contain certain forward-looking information and statements (“forward-looking information”) within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation in respect of its product candidate pipeline, planned clinical trials, regulatory approval prospects, intellectual property objectives and other statements containing the words “believes”, “anticipates”, “plans”, “intends”, “will”, “should”, “expects”, “continue”, “estimate”, “forecasts” and other similar expressions. 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 depending on, among other things, the risk that future clinical studies may not proceed as expected or may produce unfavourable results, or the risk that relevant regulatory approvals may fail to be obtained. Kalytera undertakes no obligation to comment on analyses, expectations or statements made by third parties, its securities, or financial or operating results (as applicable). Although Kalytera believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Kalytera’s control. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Kalytera disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.