VICTORIA, Dec. 1, 2014 /CNW/ - T-Bird Pharma Inc. (TSXV:TPI) ("T-Bird" or the "Company"), a pharmaceutical company focused on developing premium quality medical marijuana products and a licensed producer ("LP") under the Marihuana for Medical Purposes Regulations (Canada) ("MMPR"), is pleased to announce that Dr. Bin Huang has joined the Company as President and Chief Operating Officer. Dr Huang joins the Company as a key part of its growth and commercialization strategy.
Dr. Huang began her career as a Research Scientist with Allelix Crop Technologies focusing on improving canola growth traits such as yield and disease-tolerance. She has also worked at GMP Securities as a Partner and top-ranked Biotech analyst. Dr Huang's management experience includes serving as President & CEO of Cytovax Biotechnologies Inc. and WEX Pharmaceuticals Inc., both of which were Canadian public companies engaged in the development of pharmaceutical products. As CEO of WEX, Dr. Huang led the clinical development of Tetrodotoxin for cancer pain under the auspices of both the FDA and Health Canada, oversaw drug manufacturing in Canada and Asia, and secured commercial agreements with pharma partners. With both WEX and Cytovax, she was responsible for raising both private and public capital, managing capital markets relationships and ensuring public company compliance.
Dr. Huang received her Ph.D in Plant Cell Biology from the University of East Anglia, UK, her MBA from the University of Toronto and her BSc in Plant Genetics from Wuhan University, China.
Noted Dr. Huang, "I am very excited to join a company that has a strong foothold in this new and growing industry, and in particular one that wants to bring a strong pharmaceutical approach to its business. I am very impressed by how much the founding team has accomplished in such a short period of time and in an extremely cost effective manner. Capital efficiency and maintaining margins will be paramount as Medical Marijuana companies go to scale."
"I am very pleased to be able to attract someone with Bin's skill set to join our growing team. Her operational experience as a pharma executive having overseen the building and operating of clean rooms, as well as clinical trials under both the FDA and Health Canada will be invaluable as we scale up in 2015," said Rob Gagnon, CEO and Founder. Added David Raffa, Chairman, "Bin brings a wealth of experience to our team. Her combination of a PhD in plant science and an MBA make her an excellent candidate for our company, and her having worked both as a Life Sciences analyst and as CEO of two publicly traded life science companies brings added capital markets expertise. Her skills complement the skills of our existing team."
Concurrent with her appointment, the Company is granting to Dr. Huang 600,000 stock options at a price of $0.56 per share, vesting over three years.
Dr. Huang has also been appointed to the Board of Directors of the Company replacing Chris Taylor, the Company's CFO. Mr. Taylor will continue in his capacity as CFO and Corporate Secretary of the Company.
About T-Bird and Thunderbird
T-Bird Pharma Inc. is the parent company of Thunderbird Biomedical Inc., a wholly owned private subsidiary formed in January, 2013. The principal activities of Thunderbird are the production of marijuana from its Victoria, British Columbia production facility, as regulated by the Marihuana for Medical Purposes Regulations (Canada). Thunderbird obtained a medical marijuana license to undertake the production of medical marijuana in February 2014, being the fifth company in Canada to obtain such a license. Thunderbird was acquired by T-Bird in September, 2013.
ON BEHALF OF THE BOARD
CEO and Director
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Cautionary Statements Regarding Forward Looking Information
Certain statements in this press release constitute forward-looking statements, within the meaning of applicable securities laws. All statements that are not historical facts, including without limitation, statements regarding future estimates, plans, programs, forecasts, projections, objectives, assumptions, expectations or beliefs of future performance, are "forward-looking statements".
We caution you that such "forward-looking statements" involve known and unknown risks and uncertainties that could cause actual and future events to differ materially from those anticipated in such statements.
Forward-looking statements include, but are not limited to, statements with respect to commercial operations, including production and sales of medical marijuana, anticipated revenues, projected size of market, quantities of future medical marijuana production, completion of production facilities and other information that is based on forecasts of future results, estimates of amounts not yet determinable and assumptions of management.
T-Bird Pharma Inc. (the "Company") does not intend, and does not assume any obligation, to update these forward-looking statements except as required by law. These forward-looking statements involve risks and uncertainties relating to, among other things, results of production and sale activities, the Company's historical experience with medical marijuana operations, uninsured risks, regulatory changes, availability of production facilities, timeliness of government approvals and the granting of permits and licenses, changes in prices, actual operating and financial performance of facilities, equipment and processes relative to specifications and expectations. Actual results may differ materially from those expressed or implied by such forward-looking statements.
SOURCE: T-Bird Pharma Inc.
For further information: please contact: Kam Thindal at 604-488-9875