LONDON, Nov. 18, 2021 (GLOBE NEWSWIRE) — Small Pharma Inc. (TSXV: DMT) (OTCQB: DMTTF) (the “Company” or “Small Pharma”), a neuropharmaceutical company focused on psychedelic-assisted therapies, announces that Mr. Paul Maier has been appointed as a non-executive independent director of the board of directors of the Company (the “Board”). He will hold office as an independent director until the next annual meeting of shareholders, or until his successor has been elected or appointed. Mr. Maier has also been appointed as a member of the Audit Committee and Corporate Governance and Nominating Committee and Chair of the Compensation Committee.
Mr. Maier joins Small Pharma with over 30 years’ experience in senior executive roles across the biopharmaceutical and biotech industry. He has a successful track record at U.S. publicly listed biotech companies, raising over US$1.5bn in equity and debt financing across his career, as well as extensive expertise in company and product acquisitions and IPOs. Mr. Maier has served as Chief Financial Officer at Sequenom, Inc. and Ligand Pharmaceuticals, Inc. He currently serves on the board of 4D pharma plc (NASDAQ: LBPS), Eton Pharmaceuticals, Inc. (NASDAQ: ETON), Biological Dynamics, and International Stem Cell Corporation (OTCBB: ISCO). He previously served on the board of other publicly listed companies, including Ritter Pharmaceuticals, Inc., Apricus Biosciences, Inc., and MabVax Therapeutics Holdings, Inc. Mr. Maier holds an MBA from the Harvard Graduate School of Business.
Lyne Fortin, Chair of the Board of Small Pharma, said: “We are delighted to welcome someone of Paul’s calibre to the Board of Small Pharma. His appointment adds important expertise and capabilities to the Board as he brings broad financial and leadership experience as well as a relevant network in the North American capital markets which will be invaluable as we look to grow the business. With our first product in clinical trials and a promising pipeline of candidates, a strong diversified Board is essential in guiding the business through this critical growth period.”
Mr. Maier added: “It is an honor to join the Small Pharma Board at this exciting juncture for the Company. I look forward to working with the dedicated Board and talented management team to build upon the work that has been done to date and continue to create long term value from this innovative therapy for all stakeholders involved in mental health.”
In connection with his appointment, the Board has granted Mr. Maier stock options (each, an “Option”) to purchase up to an aggregate of 30,000 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 CDN$0.435 per share, being the closing price of the Common Shares on November 17, 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 specialized 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.
DMT is a naturally occurring psychedelic tryptamine found in plants and in the brain of mammals. Scientific evidence suggests DMT offers the potential for rapid-acting and long-lasting antidepressant effects. DMT is differentiated by its short psychedelic experience (< 30mins), which allows for short treatment sessions and offers the potential for convenient supervised treatments within patient clinics. Small Pharma is advancing a pipeline of DMT-based therapies and is leading the world’s first DMT clinical trial for MDD, in collaboration with Imperial College London.
For further information contact:
Small Pharma Inc.
Chief Executive Officer
Tel: +44 (0)2071 129118
Media Relations Contact
KCSA Strategic Communications
Tel: +1 (949) 949-6585
Investor Relations Contacts
Tim Regan/Adam Holdsworth
KCSA Strategic Communications
Tel: +1 (347) 487-6788
Small Pharma makes no medical, treatment or health benefit claims about its proposed products. The UK Medicines and Healthcare products Regulatory Agency (“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 release.