XPhyto Therapeutics Corp (CSE:XPHY) (OTCMKTS:XPHYF) (FRA:4XT) named European healthcare veteran Per S Thoresen as a company director as the bioscience accelerator focuses on several products in its pipeline nearing commercialization.
The Vancouver-based company which is working on plant-based therapeutics focused on the European markets, noted that Thoresen is an experienced leader with an “impressive track record” in a wide range of executive management roles in the pharmaceutical industry. He has 25 years of experience with major international European and Asia-based pharmaceutical companies.
He has more recently led a number of successful ventures in the pharmaceutical manufacturing, nutraceutical sectors. From 2003 to 2014, Thoresen was the managing director of Nycomed Pharma AS, which was acquired by Takeda Pharmaceutical Company Limited (NYSE:TAK) (OTCMKTS:TKPHF) (FRA:TKD) in 2011 as part of a US$14 billion acquisition.
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Thoresen holds a law degree from the University of Oslo and core competencies in strategy and organizational development, operational execution, and industry and government relations. He is an experienced chairman and board member of numerous European industry associations and companies. He is the co-founder and current chairman of Curida AS, a Norwegian-based contract development manufacturing organization focused on liquid pharmaceutical production.
"Mr Thoresen is an important addition to XPhyto's board of directors. His broad leadership experience in the pharmaceutical industry, from intellectual property and regulatory compliance to product manufacturing and distribution, presents an exciting opportunity for XPhyto," XPhyto CEO Hugh Rogers said in a statement on Thursday.
"As a number of products in our pipeline are near commercialization, we expect Thoresen to be a valuable resource," he added.
The company has granted Thoresen 250,000 stock options. The options vest immediately, subject to a four-month statutory hold, and are exercisable into 250,000 shares at a price of $1.80 for a period of five years.
Separately, XPhyto announced a strategic European advisor engagement with CorpCann AS, a Norwegian international investment and consulting firm focused on European and North American opportunities in the life science, nutraceutical, aquaculture and energy industries.
The company said that with decades of experience in debt and equity financing, IPOs, and strategic finance and business consulting, CorpCann is "well-positioned to help XPhyto's growth through strategic advice, relationships, and investments in Europe."
XPhyto Therapeutics is science-focused cannabis company developing analytical testing, processing, and formulation capability in Canada, while in Germany, it is focused on and research, cultivation, extraction, import, distribution, and manufacturing.
Contact the author Uttara Choudhury at uttara@proactiveinvestors.com
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