Ault Global Holdings Announces Adtech Pharma, Inc., an Innovative Biotech, Appoints Jodi Brichan to Its Board of Directors

Rhea-AI Summary

Ault Global Holdings (NYSE: DPW) has announced the appointment of Jodi Brichan to the Board of Directors of its subsidiary, Adtech Pharma. Brichan, a commercialization expert with over 25 years in healthcare, was previously on the board until August 2021. Ault Global holds a right to acquire up to 40% equity in Adtech for $3 million. Adtech is developing a unique glaucoma treatment, NB-110, with a potential $4 billion market. The company's leadership believes Brichan’s expertise will enhance Adtech’s clinical development and revenue creation.

Positive

• Appointment of Jodi Brichan is expected to strengthen Adtech's Board with her extensive experience in healthcare commercialization.
• Ault Global holds a strategic right to acquire 40% of Adtech, presenting further growth opportunities.
• Adtech's unique glaucoma treatment, NB-110, targets a significant global market estimated at $4 billion.

Negative

• Concerns exist regarding continuity and experience gaps with the recent board changes at Adtech.

LAS VEGAS--(BUSINESS WIRE)-- Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced that Adtech Pharma, Inc. (“Adtech”), has appointed Jodi Brichan, to its Board of Directors. Ms. Brichan was a member of the board of directors of the Company until August 13, 2021. In June of 2021, the Company entered a securities purchase agreement (the “Agreement”) with Adtech that granted the Company the right to acquire up to 40% of the current equity in Adtech, an innovative biotechnology company, for $3 million. The right to appoint Ms. Brichan was provided for in the Agreement. The investment in Adtech was made through Digital Power Lending, LLC, a wholly owned subsidiary of the Company.

Jodi Brichan is a commercialization expert with more than 25 years of experience in bringing new products to market in hypergrowth healthcare industries such as pharmaceuticals, medical devices, energy devices, and life sciences. In her prior role as a communications executive at two of the leading global communications networks, Omnicom and Publicis, Ms. Brichan managed the pharmaceutical portfolio of ophthalmology products for Alcon, a leading eyecare company specializing in glaucoma. Over the past five years, she has served on the board of directors for healthcare and technology companies. Her significant experience in clinical research, commercial product launches, and driving shareholder value makes her the ideal board member for Adtech. She holds a B.A.A. from Central Michigan University, Mount Pleasant, Michigan.

Adtech is an innovative biotech firm that has developed a novel formulation of a sole-sourced synthetic cannabinoid therapeutic targeting glaucoma known as NB-110. Adtech believes that there is a worldwide marketplace of over $4 billion in annual sales for glaucoma eye drop therapeutics. NB-110 comprises a synthetic cannabinoid Nabilone in the absence of any preservative and its formulation mimics a human tear to drive efficacious delivery through the cornea to the retina and optical nerves in the back of eye. Based on Adtech’s preclinical findings, NB-110 is targeted to lower interocular pressure and protect optical nerves for glaucoma patients. Adtech believes its formulation makes this drug unique and differentiates it from today’s marketed glaucoma medications.

Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are very pleased that Adtech has appointed Jodi Brichan to its board of directors. We look to see Adtech benefit greatly from Jodi’s experience, expertise, and success in nurturing products through clinical development, early commercialization, and ultimately impacting revenue creation in the biopharma and healthcare sectors. Jodi is noted for her enthusiasm and energy from her years of experience as an active member of a board directors.” Ault added, “Adtech is a wonderful company led by a great management team and is an example of how Ault Global continues to grow our platform and invest in undervalued businesses and disruptive technologies with a global impact.”

Dr. Robert Kupper, President and CEO of Adtech stated, “We are very pleased to have appointed Jodi Brichan to our board of directors. Ms. Brichan possesses a wealth of experience we anticipate will be directly beneficial to Adtech. We are excited to work with her and look to extend our partnership with Ault Global Holdings to advance Adtech’s science and technology with a goal to deliver medicines to patients in need.”

For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings with the SEC, available at www.sec.gov, and press releases available under the Investor Relations section at www.AultGlobal.com.

About Ault Global Holdings, Inc.

Ault Global Holdings, Inc. is a diversified holding company pursuing growth by acquiring undervalued businesses and disruptive technologies with a global impact. Through its wholly and majority-owned subsidiaries and strategic investments, the Company provides mission-critical products that support a diverse range of industries, including defense/aerospace, industrial, automotive, telecommunications, medical/biopharma, and textiles. In addition, the Company extends credit to select entrepreneurial businesses through a licensed lending subsidiary. Ault Global Holdings’ headquarters are located at 11411 Southern Highlands Parkway, Suite 240, Las Vegas, NV 89141; www.AultGlobal.com.

Forward-Looking Statements

This press release contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements generally include statements that are predictive in nature and depend upon or refer to future events or conditions, and include words such as “believes,” “plans,” “anticipates,” “projects,” “estimates,” “expects,” “intends,” “strategy,” “future,” “opportunity,” “may,” “will,” “should,” “could,” “potential,” or similar expressions. Statements that are not historical facts are forward-looking statements. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update any of them publicly in light of new information or future events. Actual results could differ materially from those contained in any forward-looking statement as a result of various factors. More information, including potential risk factors, that could affect the Company’s business and financial results are included in the Company’s filings with the U.S. Securities and Exchange Commission, including, but not limited to, the Company’s Forms 10-K, 10-Q and 8-K. All filings are available at www.sec.gov and on the Company’s website at www.AultGlobal.com.

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IR@AultGlobal.com or 1-888-753-2235

Source: Ault Global Holdings, Inc.

FAQ

What is the significance of Jodi Brichan's appointment to Adtech Pharma's Board on October 27, 2023?

Jodi Brichan's appointment is significant as she brings over 25 years of healthcare commercialization experience, which is anticipated to enhance Adtech's strategic direction and revenue generation.

How much equity can Ault Global acquire in Adtech Pharma?

Ault Global has the right to acquire up to 40% of Adtech Pharma's equity for $3 million.

What does the glaucoma treatment NB-110 developed by Adtech Pharma target?

NB-110 is designed to lower interocular pressure and protect optical nerves in glaucoma patients, positioning it uniquely in a market estimated at over $4 billion.

What are the potential impacts of Jodi Brichan's experience on Adtech Pharma?

Brichan's extensive experience in clinical research and product launches is expected to contribute positively to Adtech's development and commercialization efforts.