- Newly appointed CEO Claude LeDuc also nominated to the Board of Directors
- Share options granted to directors, officers and consultants
KIRKLAND, QC, June 20, 2019 /CNW/ - Ortho Regenerative Technologies Inc. (CSE: ORTH) ("Ortho RTi" or the "Company"), an emerging Orthopaedic and Sports Medicine technology company, today announced the appointment of Messrs. Pierre Laurin and Claude LeDuc to its Board of Directors. The nominations are effective as of June 19, 2019.
"I am pleased to welcome Pierre Laurin and Claude LeDuc to our Board of Directors," said Steve Saviuk, Executive Chairman of the Board of Directors of Ortho RTi. "Both Pierre and Claude are well-known and seasoned industry veterans with a long track record of developing strategic biotherapeutic partnerships and successfully raising the capital required to develop world leading technologies."
Commenting on the Board appointment of Mr. Laurin, Mr. Claude LeDuc, Ortho RTi's Chief Executive Officer, declared "Pierre's nomination to our Board of Directors is very timely as we continue preparing for our first human trial with our lead product, Ortho-R. We look forward to benefiting from his strategic insight and guidance related to the field of biotherapeutics."
More about Mr. Pierre Laurin:
Mr. Pierre Laurin is a senior executive with more than 35 years of experience in the pharmaceutical and biotechnology industry. He founded Prometic Life Sciences Inc. in 1994 and took the company public on the Toronto Stock Exchange in 1998. He served as President and Chief Executive Officer of the Corporation since its inception until December 2018 during which period he raised close to $1 billion in equity, debt financing and multinational funding. Mr. Laurin's corporate development achievements include the successful closing of multiple licensing agreements and partnering agreements with multinationals, including two strategic agreements with the American Red Cross, which led to commercial applications and blood derived therapeutics. Mr. Laurin's prior experience also includes positions with various pharmaceutical companies, including Nordic Laboratories (now Sanofi) where he played a pivotal role in the development and commercial success of Cardizem® in Canada and in the UK.
He is currently a board member of Innodem Neurosciences Inc., Innovon Pharmaceuticals Inc. and Invhealth Capital Inc. Mr. Laurin holds a Bachelor degree in Pharmacy and an MSc degree in Pharmaceutical Sciences from the University of Montreal.
Grant of Share Options
In connection with Mr. Laurin's appointment to Ortho RTi's Board , the Company has granted today 100,000 share options to Mr. Laurin. The Company has also granted 500,000 share options to Mr. LeDuc, in accordance with the terms of his engagement as President and CEO which were approved by the Board on June 17, 2019. Finally, the Company has granted an aggregate of 150,000 share options to two consultants. All share options were granted pursuant to the Company's Share Option Plan and will vest pursuant to the respective option agreements between Ortho RTi and each optionee. All options granted as of this date may be exercised at an exercise price of CAD$0.36 per Class A share, for a period of 5 years from the date of issuance.
About Ortho Regenerative Technologies Inc.
Ortho RTi is an emerging Orthopaedic and Sports Medicine biologics company dedicated to the development of novel therapeutic soft tissue repair technologies to dramatically improve the success rate of sports medicine surgeries. Our proprietary biopolymer has been specifically designed to increase the healing rates of sports related injuries to tendons, meniscus, ligaments and cartilage. The polymer can be directly placed into the site of injury by a surgeon during a routine operative procedure without significantly extending the time of the surgery and without further intervention. Considering the significant bioactivity and residency of our proprietary biopolymer, Ortho RTi continues to assess its potential for therapeutic uses outside of the soft tissue repair. Further information about Ortho RTi is available on the Company's website at www.orthorti.com and on SEDAR at www.sedar.com.
This news release may contain certain forward-looking statements regarding the Company's expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward- looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.
The CSE, has not reviewed, approved or disapproved the contents of this press release.
SOURCE Ortho Regenerative Technologies Inc.
For further information: Claude LeDuc, President and Chief Executive Officer, (514) 693-8804, [email protected]; Frederic Dumais, Director Communications and Investor Relations, (514) 782-8803, [email protected]