LONDON, Aug. 27, 2021 (GLOBE NEWSWIRE) — Small Pharma Inc. (TSXV: DMT) (the “Company” or “Small Pharma”), a neuropharmaceutical company focused on psychedelic-assisted therapies, is pleased to announce that Ms. Lyne Fortin has been appointed non-executive independent chair (“Chair”) of the board of directors of the Company (the “Board”). She will hold office as Chair of the Board until the next annual meeting of shareholders, or until her successor has been elected or appointed. Ms. Fortin has served as a director of the Company since April 29, 2021 and will continue to serve in her roles as chair of the Compensation Committee and the Corporate Governance and Nominating Committee and as a member of the Audit Committee.
“With 35 years of experience across Big Pharma and biotech, including 26 years at Merck, Lyne has already proven invaluable as an independent director and I couldn’t be happier to welcome her as Chair. Her in-depth experience will continue to be invaluable to Small Pharma as we look to build on the strong progress we have made this year,” said Peter Rands, Chief Executive Officer of Small Pharma.
Lyne Fortin, Chair of the Board, commented: “I am honored to be Chair of the Board of Small Pharma as the growing burden of mental health is in need of ground-breaking solutions. Small Pharma represents the perfect match of a clearly differentiated program in psychedelic research, with the drive of a strong and passionate team to deliver tangible results.”
In connection with her appointment, the Board has granted Ms. Fortin stock options (each, an “Option”) to purchase up to an aggregate of 150,000 common shares in the capital of the Company (each, a “Common Share”) pursuant to the Company’s stock option plan. Each Option is exercisable for one Common Share at a price equal to $0.40 per share, being the closing price of the Common Shares on August 25, 2021. The Options are exercisable for a period of ten years from the date of grant and are subject to certain vesting criteria.
About Small Pharma
Small Pharma is a neuropharmaceutical company specialised in IP led development of novel treatments for mental health conditions, with a focus on depression. Small Pharma initiated a clinical program into N,N-dimethyltryptamine (“DMT”) assisted therapy in February 2021. This program includes a Phase I/IIa trial on its lead candidate alongside development of a robust pipeline of proprietary preclinical assets.
For further information contact:
Small Pharma Inc.
Chief Executive Officer
Tel: +44 (0)2071 129118
Investor Relations Contact
Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates and projections as at the date of this news release. Any statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be achieved) are not statements of historical fact and may be forward-looking information. In disclosing the forward-looking information contained in this press release, the Company has made certain assumptions. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and foreign laws and regulations adversely affecting the Company’s business and results of operations; the impact of COVID-19; and general business, economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, the Company disclaims any intention and assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.
Small Pharma makes no medical, treatment or health benefit claims about its proposed products. The Medicines and Healthcare products Regulatory Agency (the “MHRA”) or other similar regulatory authorities have not evaluated claims regarding DMT-assisted therapies and other next generation psychoactive compounds. The efficacy of such therapies has not been confirmed by MHRA-approved research. There is no assurance that such DMT-assisted therapies and other psychoactive compounds can diagnose, treat, cure or prevent any disease or condition. Vigorous scientific research and clinical trials are needed. Any references to quality, consistency, efficacy and safety of potential therapies do not imply that Small Pharma verified such in clinical trials or that Small Pharma will complete such trials. If Small Pharma cannot obtain the approvals or research necessary to commercialize its business, it may have a material adverse effect on Small Pharma’s performance and operations.
The TSX Venture Exchange (the “TSXV”) has neither approved nor disapproved the contents of this news release. Neither the TSXV nor its Regulation Services Provider (as that term is defined in the policies of the TSXV) accepts responsibility for the adequacy or accuracy of this news release.