Pharmaceutical Veteran Dr. Theron (Ted) Odlaug
Assumes CEO role upon the Resignation of Dr. George Thomas
WINNIPEG, July 23, 2018 /CNW/ - Waverley Pharma Inc.
("Waverley Pharma" or the "Company") (TSXV: WAVE), an emerging
Canadian pharmaceutical company, announced today that its board of
directors (the "Board") has accepted the resignation of Dr.
George Thomas as President and Chief
Executive Officer (CEO) of the Company, effective July 26, 2018, as he has decided to pursue other
opportunities.
Dr. Theron (Ted) Odlaug has been
appointed by the Board as the new CEO, effective August 1, 2018. Dr. Odlaug is currently the
Executive Chairman of Impopharma Inc. and most recently was the CEO
of leon-nanodrugs GmbH, based in Munich, Germany. Prior to that he was the
Executive Chairman of Cedarburg Pharmaceuticals, and has over 35
years business experience that includes senior leadership roles at
Astellas, Fujisawa, Bayer AG and Baxter.
Dr. Albert Friesen, Chairman of
Waverley Pharma said, "The Board is very thankful to George for his
exemplary service to the Company and wishes him much success in his
future endeavors. On behalf of the Board I would also like to
welcome Ted to the team and we look forward to working with him as
he brings his extensive experience and knowledge to the
Company."
Waverley Pharma also announced today that it has authorized the
grant of an aggregate of 400,000 stock options (each an "Option")
to certain directors and officers of the Company and its
subsidiaries in accordance with the Company's stock option plan.
Each Option will be exercisable into one common share of the
Company at the closing market price of the Company's common shares
on the date of grant, for a period of five years from the date of
grant. The issuance of the Options is subject to the approval of
the TSX Venture Exchange.
About Waverley Pharma
Waverley Pharma is an emerging pharmaceutical company focused on
the development and commercialization of effective and affordable
cancer therapeutics in the EU and North American markets. The
Company has recently acquired two generic drugs marketed in the
United Kingdom, Capecitabine and
Temozolomide. Furthermore, Waverley Pharma has filed for
marketing approval in selected countries of the EU and with the
United States FDA for two additional high value generic oncology
drugs and is currently evaluating other products, in different
stages of development. Waverley Pharma is committed to providing
patients with affordable prescription medicines that lower
healthcare costs and provide a better quality of life.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
SOURCE Waverley Pharma Inc.