--Industry Veteran Paul Brennan Appointed
Effective Nov
1st--
VICTORIA, BC, Nov. 1, 2022
/CNW/ - Eupraxia Pharmaceuticals Inc. ("Eupraxia" or the
"Company") (TSX: EPRX), a Phase 2 clinical-stage biotechnology
company with an innovative drug delivery technology platform, today
announced that it has appointed Paul
Brennan to the role of Chief Business Officer ("CBO").
Mr. Brennan will work closely with the executive management team
to secure partnership opportunities to help advance the Company's
pipeline of drug candidates.
"Paul is an experienced and successful business development
executive with decades of biotech experience in Canada and internationally," said Dr.
James Helliwell, CEO of Eupraxia.
"The company continues to make progress in pipeline development,
having recently added a second Phase 2 program in eosinophilic
esophagitis. As we continue to advance additional pipeline
candidates, we believe development and commercialization
partnerships will offer a potentially non-dilutive means to
resource and fund these programs, as well as important external
validation of the underlying drug candidate prospects. With a focus
on optimizing value for shareholders and fully resourcing all
pipeline projects, we believe Paul will be instrumental in the
execution of this next stage of growth for the Company."
Paul Brennan Background
Mr. Brennan has more than 30 years experience in the pharma
and biotech industries where he has held several executive
positions in general management and/or business
development including at NervGen Pharma, Aquinox Pharmaceuticals,
Arbutus Biopharma (formerly Tekmira Pharmaceuticals), Aspreva
Pharmaceuticals and AnorMED.
He has participated in the development
and/or commercialization of more than 10 products that have
advanced from clinical development through
to regulatory approval in either the U.S. or Europe and has been involved in several
billions of dollars worth of business development and
financing transactions.
Notable transactions involving Mr. Brennan include the sale
of Aspreva to Vifor Pharma for $915
million, the sale of AnorMED to Genzyme for $580 million and the merger of Tekmira and OnCore
Biopharma to form Arbutus Biopharma, valued at more than
$1 billion.
He has also served in senior business development and regulatory
affairs roles with AstraZeneca plc, working in Sweden, the United
Kingdom and Canada. Mr.
Brennan holds a master's degree in Neurophysiology from
Queen's University in Kingston.
About Eupraxia Pharmaceuticals
Inc.
Eupraxia is a clinical-stage biotechnology company focused on
the development of locally delivered, extended-release alternatives
to currently approved drugs. Each of Eupraxia's product candidates
has the potential to address therapeutic areas with high unmet
medical need and strives to provide improved patient benefit by
delivering targeted, long-lasting activity with fewer side
effects.
Eupraxia's lead product candidate, EP-104IAR, is currently in
Phase 2 development for the treatment of pain due to osteoarthritis
of the knee. The EP-104IAR platform has expanded into
gastrointestinal disease with the launch of a Phase 2 program to
treat eosinophilic esophagitis. Eupraxia is also developing a
pipeline of later- and earlier-stage long-acting formulations.
Potential pipeline indications include candidates for both other
inflammatory joint indications and oncology, each designed to
improve on the activity and tolerability of currently approved
drugs. For further details about Eupraxia, please visit the
Company's website at: www.eupraxiapharma.com.
Notice Regarding Forward-looking
Statements and Information
This news release includes forward-looking statements and
forward–looking information within the meaning of Canadian
securities laws. Often, but not always, forward–looking information
can be identified by the use of words such as "plans", "is
expected", "expects", "scheduled", "intends", "contemplates",
"anticipates", "believes", "proposes" or variations (including
negative and grammatical variations) of such words and phrases, or
state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved. Forward
looking statements in this press release include statements
regarding the Company's business strategies and objectives,
including current and future plans and opportunities, expectations
and intentions; statements regarding the Company's Phase 2 clinical
trial; the ability of the Company to execute on its business
strategy; the advancement of pipeline drug candidates; the
potential of partnership opportunities to resource and fund the
Company's pipeline development; the expectations regarding Mr.
Brennan and his role as CBO; the Company's expectations regarding
the potential of Eupraxia's product candidates, including with
respect to patient benefit, duration and effectiveness; and the
development of potential pipeline designs. Such statements and
information are based on the current expectations of Eupraxia's
management, and are based on assumptions, including but not limited
to: future research and development plans for the Company
proceeding substantially as currently envisioned; industry growth
trends, including with respect to projected and actual industry
sales; the Company's ability to obtain positive results from the
Company's research and development activities, including clinical
trials; and the Company's ability to protect patents and
proprietary rights. Although Eupraxia's management believes that
the assumptions underlying these statements and information are
reasonable, they may prove to be incorrect. The forward–looking
events and circumstances discussed in this news release may not
occur by certain dates or at all and could differ materially as a
result of known and unknown risk factors and uncertainties
affecting Eupraxia, including, but not limited to: the Company's
limited operating history; the Company's novel technology with
uncertain market acceptance; if the Company breaches any of the
agreements under which it licenses rights to its product candidates
or technology from third parties, the Company could lose license
rights that are important to its business; the Company's current
license agreement may not provide an adequate remedy for its breach
by the licensor; the Company's technology may not be successful for
its intended use; the Company's future technology will require
regulatory approval, which is costly and the Company may not be
able to obtain it; the Company may fail to obtain regulatory
approvals or only obtain approvals for limited uses or indications;
the Company completely relies on third parties to provide supplies
and inputs required for its products and services; the Company
relies on external contract research organizations to provide
clinical and non-clinical research services; the Company may not be
able to successfully execute its business strategy; the Company
will require additional financing, which may not be available; any
therapeutics the Company develops will be subject to extensive,
lengthy and uncertain regulatory requirements, which could
adversely affect the Company's ability to obtain regulatory
approval in a timely manner, or at all; the impact of the COVID-19
pandemic on the Company's operations; and other risks and
uncertainties described in more detail in Eupraxia's public filings
on SEDAR (www.sedar.com). Although Eupraxia has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward–looking statements and information, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward–looking statement or
information can be guaranteed. Except as required by applicable
securities laws, forward–looking statements and information speak
only as of the date on which they are made and Eupraxia undertakes
no obligation to publicly update or revise any forward–looking
statement or information, whether as a result of new information,
future events or otherwise.
SOURCE Eupraxia Pharmaceuticals Inc.