Theratechnologies Appoints New Board Member
Theratechnologies (THTX) has appointed Frank Holler as an independent member of its Board of Directors, enhancing the board's expertise in capital markets and biotechnology. Holler, who has a strong background in the biotech industry and has led successful companies, is expected to contribute significantly as Theratechnologies advances its global commercial business and clinical pipeline. The company is progressing with TH1902, a Phase 1 clinical trial for solid tumors, and developing tesamorelin for NASH treatment.
- Appointment of Frank Holler adds expertise in biotech and capital markets.
- Expected contributions to growing shareholder value.
- Strengthened leadership during critical company growth phase.
- Potential risks in clinical trial recruitment and execution.
- Sales of commercial products may not grow as anticipated.
MONTREAL, June 23, 2021 (GLOBE NEWSWIRE) -- Theratechnologies Inc. (Theratechnologies) (TSX: TH) (NASDAQ: THTX), a biopharmaceutical company focused on the development and commercialization of innovative therapies, today announced the appointment of Mr. Frank Holler as a new independent member to its Board of Directors.
“The appointment of Frank Holler adds important expertise and capabilities to the Board. Frank brings extensive knowledge and experience in the North American capital markets and has a well-recognized track record in the biotech industry having been involved in the establishment and growth of four of Canada’s most successful biopharmaceutical companies,” said Ms. Dawn Svoronos, Chair of the Board, Theratechnologies Inc.
“On behalf of the Board of Directors at Theratechnologies, it is my pleasure to welcome Frank. He arrives at a crucial time in Theratechnologies’ history as the Company continues to grow its commercial business globally and advance its exciting pipeline, namely moving forward its lead Peptide-Drug Conjugate, TH1902, through a Phase 1 clinical trial for the potential treatment of solid tumors expressing the sortilin receptor and advancing the development program for tesamorelin in Nonalcoholic Steatohepatitis (NASH) in the general population. Frank’s in-depth experience at growing shareholder value and strong knowledge of the challenges and opportunities in the biotech industry will be great assets for the Board,” added Ms. Svoronos.
About Frank Holler
Frank A. Holler is currently President & CEO of Ponderosa Capital Inc. He previously served as Chairman & CEO of BC Advantage Funds (VCC) Ltd., a venture capital firm investing in emerging technology companies in British Columbia.
He also served as President and CEO of Xenon Pharmaceuticals Inc. from 1999 to 2003 after having been President and CEO of ID Biomedical Corporation from 1991 to 1998. In addition, he was a founding director of Angiotech Pharmaceuticals.
Prior to working in biotechnology and healthcare, Mr. Holler was a Vice-President of Investment Banking with Merrill Lynch Canada and Wood Gundy Inc. (now CIBC World Markets).
Mr. Holler holds an MBA and BA (Economics) from the University of British Columbia.
About Theratechnologies
Theratechnologies (TSX: TH) (NASDAQ: THTX) is a biopharmaceutical company focused on the development and commercialization of innovative therapies addressing unmet medical needs. Further information about Theratechnologies is available on the Company's website at www.theratech.com, on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.
Forward-Looking Information
This press release contains forward-looking statements and forward-looking information, or, collectively, forward-looking statements, within the meaning of applicable securities laws, that are based on our management’s beliefs and assumptions and on information currently available to our management. You can identify forward-looking statements by terms such as "may", "will", "should", "could", “would”, "outlook", "believe", "plan", "envisage", "anticipate", "expect" and "estimate", or the negatives of these terms, or variations of them. The forward-looking statements contained in this press release include, but are not limited to, statements regarding the growth of the commercial business of the Company, the development of tesamorelin for the potential treatment of NASH in the general population and the development of TH1902 in a Phase 1 clinical trial for the potential treatment of solid tumors expressing the sortilin receptor.
Forward-looking statements are based upon a number of assumptions and include, but are not limited to, the following: the development of tesamorelin for the potential treatment of NASH in the general population and the development of TH1902 will yield positive results and lead to new medicines being approved for the treatment of NASH and the treatment of cancer, respectively, and sales of our commercial products in the HIV field will grow overtime.
Forward-looking statements are subject to a variety of risks and uncertainties, many of which are beyond our control that could cause our actual results to differ materially from those that are disclosed in or implied by the forward-looking statements contained in this press release. These risks and uncertainty include the risk that (i) the Covid-19 pandemic materially adversely affect our business plan and activities, (ii) sales of our commercial products do not grow overtime and may even decrease, (iii) the recruitment of patients for the ongoing Phase 1 clinical trial and the planned Phase 3 clinical trial in NASH is harder than expected leading to delays in completing them or leading to a suspension or halt for any of them, (iv) negative results ensue from those trials, and (v) EGRIFTA SV® and/or Trogarzo® are subject to unknown serious adverse events which could lead to product withdrawal from the market or blackbox warnings.
We refer potential investors to the "Risk Factors" section of our annual information form dated February 24, 2021 available on SEDAR at www.sedar.com and on EDGAR at www.sec.gov as an exhibit to our report on Form 40-F dated February 25, 2021 under Theratechnologies’ public filings for additional risks regarding the conduct of our business and Theratechnologies. The reader is cautioned to consider these and other risks and uncertainties carefully and not to put undue reliance on forward-looking statements. Forward-looking statements reflect current expectations regarding future events and speak only as of the date of this press release and represent our expectations as of that date.
We undertake no obligation to update or revise the information contained in this press release, whether as a result of new information, future events or circumstances or otherwise, except as may be required by applicable law.
For media inquiries:
Denis Boucher
Vice President, Communications and Corporate Affairs
514-336-7800
communications@theratech.com
For investor inquiries:
Leah Gibson
Senior Director, Investor Relations
617-356-1009
ir@theratech.com
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