Business
PharmaDrug Announces Appointment of CEO and Changes to the Board of Directors
Toronto, Ontario--(Newsfile Corp. - September 6, 2023) - PharmaDrug Inc. (CSE: PHRX) (OTCQB: LMLL...
About this update from Pharmadrug, Inc.
[{"type":"text","content":"PharmaDrug Announces Appointment of CEO and Changes to the Board of DirectorsToronto, Ontario--(Newsfile Corp. - September 6, 2023) - PharmaDrug Inc. (CSE: PHRX) (OTCQB: LMLLF) (\"PharmaDrug\" or the \"Company\"), announced today the appointment of Robert J. Steen as Chief Executive Officer (CEO) and Chairman of the Board of Directors. Robert will replace Daniel Cohen, who will continue on in an advisory capacity to ensure a proper transition and steady state progress in the cepharanthine program. Robert has had a long career of successful entrepreneurship. He has helped found and develop several businesses in several sectors including real estate acquisition and property management as well as financial tax products and consultancy. Most recently, Robert founded Trafalgar Addiction Treatment Centres in 2012 and helped develop the business until it was sold to a conglomerate in 2022. Robert has an M.B.A. from the Schulich School of Business.The Company has also announced that Michael Forbes has left the board in order to pursue other opportunities. The Board would like to thank Mr. Forbes for his contributions to PharmaDrug. Chairman and CEO Robert Steen commented, \"I am excited to join PharmaDrug and to work with Daniel to continue the progress with cepharanthine. I truly believe in the prospects for PD-001 to potentially treat both cancer and viral infections. I am committed to help deliver long term value with the development programs.\" Cepharanthine ProgramWith the investment into Sairiyo Therapeutics Inc. by PharmaTher Inc. now complete (See press release dated July 18, 2023), the Company has been able to reaccelerate its cepharanthine program. The goal remains the development of the PD-001, a patented high bioavailable enteric coated formulation of cepharanthine-2HCL (for oral administration) for Oncology and as a potential anti-viral.The certificate of analysis has been issued along with a master batch record and the drug has been successfully transferred to Genvion Corporation. Genvion will execute all necessary ICH-compliant stability testing and forced degradation studies in support of future filings to Australia's Therapeutic Goods Administration (TGA) and the Food and Drug Administration (FDA) in the United Sates. Downstream manufacturing efforts required to produce the orally bioavailable clinical drug product, PD-...