Rob Gietl Joins Pascal Biosciences as New Chief Executive Officer

Rhea-AI Summary

Pascal Biosciences Inc. (OTC:PSCBF) appointed Rob Gietl as the new CEO and President. He brings extensive leadership experience and successfully managed $123M in financing at MYM Neutraceuticals. Gietl aims to leverage corporate partnerships and funding to advance Pascal's therapeutic programs, including PAS-393 and an NIH grant for leukemia. The transition sees Dr. Patrick Gray becoming Chairman of the Board.

Positive

• Rob Gietl appointed as CEO, bringing extensive experience in public company management.
• Successful capital raise of $123M under Gietl's previous leadership.
• Strategic focus on corporate partnerships and funding could enhance project development.

Negative

• Dependence on future capital raises poses a risk if funding is not secured.
• Uncertainty regarding the success of clinical trials and product development.

VANCOUVER, BC / ACCESSWIRE / September 7, 2021 / Pascal Biosciences Inc. ("Pascal") (TSXV:PAS) (OTC:PSCBF) (FSE: 6PB-FF), announced today the appointment of Rob Gietl as Chief Executive Officer and President, and he will also have a position on the Board of Directors. Mr. Gietl has extensive experience leading several public companies in Canada, with an excellent record of effectively executing business plans, creating successful partnerships, and leveraging financial resources. As CEO of MYM Neutraceuticals, he oversaw the financing of $123M in the public markets.

Mr. Gietl takes over from Dr. Patrick Gray who now becomes Chairman of the Board of Directors. "Rob is a great addition to Pascal, and we look forward to his direction of the company", said Dr. Gray. "His past operational experience will greatly help guide Pascal, and his financial expertise will create significant value for our shareholders." In industries as diverse as green technology, early-stage mining development, and cannabis neutraceuticals, he has been instrumental in numerous corporate start-up successes in Canada, the U.S, Mexico, and Australia.

Mr. Gietl commented, "Pascal is a dynamic company on the verge of attaining fantastic milestones in the biotechnology industry, and I'm excited to provide the direction to reach these goals." Pascal has several promising therapeutic programs, and Mr. Gietl will be tasked with prioritizing their direction and funding though corporate partnerships, non-dilutive funding, and public/private funding. "Pascal already has a corporate partnership with SoRSE Technology for their PAS-393 program, and an NIH grant for their leukemia program. We will grow Pascal in a manner most valuable to shareholders, and we expect to be a premier force in the biotechnology industry."

Pascal's leadership team is dedicated to treating difficult diseases such as cancer. As Dr. Gray makes clear, "Rob's exceptional background in operations and raising capital perfectly complements Pascal's super research and development capabilities." Accordingly, the team enthusiastically welcomes Mr. Gietl to the company.

ABOUT PASCAL BIOSCIENCES INC.

Pascal is a biotechnology company advancing innovative therapies for serious diseases. In addition to a targeted therapy for acute lymphoblastic leukemia, Pascal is developing cannabinoid-based treatments for cancer. These compounds include PAS-403, which is advancing into clinical trials for the treatment of glioblastoma, and PAS-393, an immuno-stimulatory cannabinoid to be used in combination with checkpoint inhibitor therapy to treat multiple cancers. The PAS-393 program is being developed collaboratively with SoRSE Technology. PAS-393 also shows promise for treating COVID-19.

To learn more, visit: https://www.pascalbiosciences.com/.

On Behalf of the Board of Directors

Dr. Patrick W. Gray, Chairman

Company Contact:
Patrick W. Gray, CEO
pgray@pascalbiosciences.com
invest@pascalbiosciences.com
Tel: 206-221-3443

Investor Contact:
Mark van der Horst
mark@galecapital.com
Tel: (604) 200-1480

Forward-Looking Statements

DISCLAIMER
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: products that we develop may not succeed in preclinical or clinical trials, or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward- looking statements and information to reflect subsequent events or circumstances, except as required by law.

"Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release"

SOURCE: Pascal Biosciences Inc.

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FAQ

Who is the new CEO of Pascal Biosciences?

Rob Gietl has been appointed as the new CEO and President of Pascal Biosciences.

What experience does Rob Gietl bring to Pascal Biosciences?

Rob Gietl has extensive experience in leading public companies in Canada, including a successful $123M financing at MYM Neutraceuticals.

What is the stock symbol for Pascal Biosciences?

Pascal Biosciences is traded under the stock symbol PSCBF on the OTC.

What are the primary therapeutic programs at Pascal Biosciences?

Pascal is developing PAS-393 and has an NIH grant for a leukemia program.

Who did Rob Gietl replace as CEO of Pascal Biosciences?

Rob Gietl replaces Dr. Patrick Gray, who has become Chairman of the Board.