Company to benefit from Dr. Frankham's strong commercial and scientific expertise in developing and marketing biopharmaceutical and natural health products
MONTREAL, Aug. 20, 2019 /CNW/ - Mondias Natural Products Inc. ("Mondias" or the "Company") (TSXV: NHP) is pleased to announce that the Board of Directors has appointed Dr. Patrick Frankham, PhD, MBA, as the Company's new Chief Executive Officer, effective August 19, 2019.
Dr. Frankham brings more than 25 years of diverse natural products and pharmaceutical experience across both business and research leadership roles in domestic and international markets. A talented product innovator, he is recognized for driving business results by building products through infrastructure, innovation and talent.
Prior to joining Mondias, Dr. Frankham was Chief Executive Officer and a Director of Pivot Pharmaceuticals Inc. since 2014. During the course of his career, he has also founded several healthcare start-ups, including healthcare information technology, services and pharmaceutical companies. His strong scientific background comes from his professional experience with public and private companies, including multinational corporations. He has developed pharmaceutical products in several therapeutic areas and interacted with global regulatory authorities. Notable organizations where he held increasing leadership roles include Boehringer-Ingelheim GmbH, AeternaZentaris, BioAxone Biosciences and ICON Clinical Research. Dr. Frankham obtained his PhD in molecular endocrinology from the Université Laval in Canada, and holds an MBA in finance from the University of Liverpool, in the United Kingdom.
"I would like to welcome Dr. Frankham as Mondias' new CEO on behalf of the Board of Directors," said Mr. André Rancourt, Executive Chairman of Mondias. "We are proud to have attracted such a high-profile candidate and believe that Dr. Frankham has the track record to take Mondias to the next stage in its growth plan: a vast expertise in developing and marketing biopharmaceutical and natural health products, strong knowledge of the drug regulatory process, a solid network in both the scientific and the financial community and broad public company experience. We will also ensure that he has the tools and resources he needs to make Mondias a success."
"Mr. Gravel, our outgoing Chief Executive Officer, will stay on as a consultant to assist Dr. Frankham during a normal transition period," added Mr. Rancourt. "I wish to thank Mr. Gravel for his many contributions to Mondias, from taking the Company public to his involvement in preparing Mondias for future growth."
"I was impressed by Mondias' solid portfolio of natural health products and its CELEXT07 bio-defense stimulant plant extract, which has already attracted considerable interest from multinational corporations in the biopharma and agricultural sectors," said Dr. Frankham, CEO of Mondias. "My goal in joining Mondias is to develop the portfolio of innovative products to their full market potential while raising awareness of the Company among our stakeholders and potential investors. In the coming weeks, with the help of the Mondias team, I intend to assess how we can best develop and market our products to generate top return on investment for our shareholders."
Mondias has granted an aggregate amount of 700,000 stock options of the Company to Dr. Frankham as part of his compensation package. 350,000 stock options will vest immediately with the remaining 350,000 stock options vesting on January 1, 2022. The stock options have an exercise price of $0.13 per share and will expire on August 19, 2029.
About Mondias Natural Products Inc.
Mondias specializes in the commercialization and development of evidence-based botanical products for the healthcare, bio-agriculture and organic markets. The Company sells both oral and topical botanical agents to help manage unmet medical needs through its Holizen Laboratories division. Mondias is also developing botanical-based specialty fertilizers, biostimulants and biopesticides for use in the agriculture, horticulture, cannabis and hops markets, in collaboration with McGill's Faculty of Agricultural and Environmental Sciences.
For more information, visit: www.mondias.ca
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Some statements in this release may contain forward-looking information. All statements, other than statements of historical fact, that address activities, events or developments that the Company believes, expects or anticipates will or may occur in the future (including, without limitation, statements regarding potential acquisitions and financings) are forward-looking statements. Forward-looking statements are generally identifiable by the use of the words "may", "will", "should", "continue", "expect", "anticipate", "estimate", "believe", "intend", "plan" or "project" or the negative of these words or other variations on these words or comparable terminology. Forward-looking statements are subject to a number of risks and uncertainties, many of which are beyond the Company's ability to control or predict, that may cause the actual results of the Company to differ materially from those discussed in the forward-looking statements. Factors that could cause actual results or events to differ materially from current expectations include the Company's inability to obtain sufficient financing to execute its business plan; competition; regulation; anticipated and unanticipated costs and delays; the success of the Company's research and development strategies; the ability to obtain orphan drug status; the applicability of the discoveries made; the successful and timely completion and uncertainties related to the regulatory approval process; the timing of clinical trials; the timing and outcomes of regulatory or intellectual property decisions; and other risks disclosed in the Company's public disclosure record on file with the relevant securities regulatory authorities. Although the Company has attempted to identify important factors that could cause actual results or events to differ materially from those described in forward-looking statements, there may be other factors that cause results or events not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this news release, and the Company does not undertake any obligation to publicly update them to reflect new information or subsequent events or otherwise except as required by applicable securities legislation.
SOURCE Mondias Natural Products Inc.
For further information: Mondias Natural Products Inc., Sabino Di Paola, Chief Financial Officer, 1-866-722-2442, [email protected]; Relations Publiques Paradox Inc.,514-341-0408