Small Pharma Announces Management Team Change
July 05 2023 - 7:25AM
Small Pharma Inc. (TSXV: DMT) (OTCQB: DMTTF) (the
“
Company” or “
Small Pharma”), a
biotechnology company focused on short-acting psychedelic-assisted
therapies for mental health conditions, today announces that Mr.
Peter Rands, co-founder, Chief Innovation & Intellectual
Property Officer and former Chief Executive Officer of the Company,
has left his positions as an executive officer and director of the
Company and its subsidiaries, effective as of July 1, 2023.
Mr. Rands commented: “I started
Small Pharma with a vision to create innovative pharmaceutical
products based on known compounds that could be transformative for
people suffering from mental health disorders. In the past eight
years, we have made great strides towards achieving that vision. I
am immensely proud of the Small Pharma team of scientists and
innovators whom I have had the privilege of working alongside, and
who have made this progress possible.”
Mr. Rands founded Small Pharma in 2015, building
the team and infrastructure to enable significant clinical
milestones, including the achievement of the first
placebo-controlled proof-of-concept results for
N,N-dimethyltryptamine (“DMT”) in patients with
Major Depressive Disorder. During his tenure as Chief Executive
Officer, Mr. Rands led the Company to a successful go-public
transaction on the TSX Venture Exchange (the
“TSXV”), alongside a concurrent $58 million equity
financing. Mr. Rands also spearheaded the development of a robust
and multi-layered Intellectual Property (“IP”)
portfolio to protect the Company’s preclinical and clinical
candidates.
Following Mr. Rands’ departure from his role as
Chief Innovation & Intellectual Property Officer, Emma Hodge,
the Company’s current Head of Intellectual Property, will lead IP
development and strategy. Ms. Hodge, who joined Small Pharma in
2021, is a qualified patent attorney, with over 20 years’
experience specializing in the pharmaceutical industry, having
spent the majority of her career at Pfizer and Novartis.
Lyne Fortin, Chair of the Board
said: “It is with a deep appreciation for Peter’s original
vision and his tenacity in pursuing it that Small Pharma will
continue its mission to develop novel mental health treatments for
millions of patients worldwide. During his time at Small Pharma,
Peter assembled a world-class team that has achieved multiple
research and development milestones and positive trial results,
establishing the Company as a leader amongst psychedelic
biotechnology companies. On behalf of the board of directors and
the Small Pharma team, I want to thank Peter for his leadership. I
have great faith that the team led by CEO George Tziras will
continue to drive tremendous progress towards creating a brighter
future for under-served mental health patients.”
About Small PharmaSmall Pharma is a
biotechnology company progressing a pipeline of short-duration
psychedelic-assisted therapies for the treatment of mental health
conditions. Small Pharma has a portfolio of clinical-stage
DMT-based assets, SPL026 and SPL028. The Company was granted an
Innovation Passport designation for SPL026 from the U.K. Medicines
and Healthcare products Regulatory Agency (the
“MHRA”) and has a pipeline of proprietary
preclinical assets.
For further information contact:
Small Pharma Inc.George Tziras, Chief Executive
OfficerEmail: ir@smallpharma.co.ukTel: +44 (0)7720 326 847
Media Relations Contact:Jenny MaguireHead of
External AffairsEmail: jenny.maguire@smallpharma.com
Cautionary NoteSmall Pharma makes no medical,
treatment or health benefit claims about its proposed products. 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 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.
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