Theratechnologies Appoints Two New Board Members
Theratechnologies has appointed Andrew Molson and Alain Trudeau as new independent members of its Board of Directors. This strategic move aims to enhance the board's expertise as the company progresses in developing tesamorelin for Nonalcoholic Steatohepatitis (NASH) and advancing its SORT1+ Technology in oncology. Ms. Dawn Svoronos, the Chair of the Board, expressed confidence in their contributions as the firm seeks to strengthen its market position.
- Appointment of experienced board members Andrew Molson and Alain Trudeau, potentially strengthening governance.
- Focus on developing tesamorelin for NASH and SORT1+ Technology in oncology may enhance growth prospects.
- None.
MONTREAL, Oct. 16, 2020 (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. Andrew Molson and Mr. Alain Trudeau as new independent members to its Board of Directors.
“Both Andrew and Alain bring tremendous value to our Board. They are well-recognized and respected by their peers in the business community for their knowledge, expertise and vision,” 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 them. We look forward to the important contribution Andrew and Alain will make as Theratechnologies enters a new chapter in its history. Theratechnologies recently announced its intent to develop tesamorelin for the treatment of Nonalcoholic Steatohepatitis (NASH) in the general population while it continues to advance its SORT1+ TechnologyTM platform in oncology. These programs, along with the commercialization of EGRIFTA SV® and Trogarzo®, position Theratechnologies to become a much larger player in the pharmaceutical industry,” added Ms. Svoronos.
About Andrew Molson
Andrew Molson serves as chairman of AVENIR GLOBAL, an organization uniting seven strategic communications firms across Canada, the U.S., Europe and the Middle East. He is also chairman of Molson Coors Beverage Company and a member of the board of directors of Groupe Deschênes Inc., Dundee Corporation and the CH Group Limited Partnership, owner of evenko and the Montreal Canadiens.
He previously served as a director of The Group Jean Coutu PJC Inc. from 2014 to 2018, as Chair of Molson Coors from May 2011 to May 2013 and as its Vice Chair from May 2009 to May 2011.
He was called to the Quebec Bar in 1995 after studying law at Laval University in Quebec City. He also holds a Bachelor of Arts from Princeton University and a Master of Science in corporate governance and ethics from University of London (Birkbeck College). Mr. Molson serves on several non-profit boards, including the Institute for Governance of Private and Public Organizations, Concordia University Foundation, the Québec Blue Cross, the evenko foundation for emerging talent, the Montreal General Hospital Foundation and the Molson Foundation, a family foundation dedicated to the betterment of Canadian society.
About Alain Trudeau
A fellow of the Quebec CPA Order, Alain Trudeau has had a distinguished career at Ernst & Young from 1982 to 2019 where he held the position of Managing Partner, Assurance Services, for EY offices in the Province of Quebec from 2008 to 2019. He was also responsible for the audit of many publicly-traded companies.
He currently serves on the board of directors of the Montréal Inc. Foundation, the Institut de médiation et d’arbitrage du Québec (IMAQ) and Blue Bridge Trust Company Inc.
From 2008 to 2019, Mr. Trudeau was a lecturer at the Collège des administrateurs de sociétés de l’université Laval in Quebec City.
Mr. Trudeau holds a Bachelor of Arts in Accounting from HEC Montréal.
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 development of tesamorelin for the potential treatment of NASH in the general population and the development of the SORT1+ TechnologyTM platform.
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 our SORT1+ TechnologyTM platform will yield positive results and lead to new medicines being approved for the treatment of NASH and the treatment of cancer, respectively.
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) regulatory agencies do not approve our Phase 3 study protocol for the development of tesamorelin for the potential treatment of NASH in the general population and/or our Phase 1 study protocol to pursue the development of our peptide conjugates in oncology, (iii) that, even if our protocols are approved, we are unable to recruit a sufficient number of patients to conduct our clinical trials, (iv) we incur delays in recruiting patients and completing our clinical trials, (v) negative results ensue from those trials, and (vi) 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, 2020 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, 2020 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
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