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 industry veteran Bruce Cousins as the Company's new President and Chief Financial Officer.
Mr. Cousins' appointment is effective May 3, 2021 . The combined role of President and CFO reflects the broader scope of the new roles' operating and corporate responsibilities, as well as oversight of financial management and public markets reporting.
Consistent with the appointment, the Company's current CFO Alex Rothwell will remain full-time with the Company until June 3, 2021 , to ensure an orderly transfer of his responsibilities, following which Eupraxia will retain him as an advisor on a consulting basis for another 12 months.
" Alex's leadership was essential to the financings and corporate activities that paved the way for the successful completion of Eupraxia's recent initial public offering, and he had a profound effect in shaping the direction of the Company over the past three-and-a-half years. Alex will continue to help the Company as an advisor and we are glad to have the benefit of his participation in the future," said Dr. James Helliwell , Chief Executive Officer of Eupraxia. "Looking forward, and based on Bruce's extensive experience in the healthcare space, we are delighted that he will be a key contributor to our senior leadership team as Eupraxia advances its lead Phase 2 product candidate as a potential treatment for knee osteoarthritis, and evaluates opportunities for its proprietary extended-release technology platform."
Alex Rothwell , commented: "I am convinced that Bruce will help maximize shareholder value in the coming years. His deep experience as a senior executive in the biotech and pharma industries, and in the public markets, makes him the right person with the right skills at the right time for Eupraxia."
Mr. Cousins brings more than 20 years of senior leadership experience to Eupraxia following his time with a number of successful biotechnology and pharmaceutical companies.
Most recently, he served as Executive Vice President and Chief Financial Officer for Arbutus Biopharma Corporation (NASDAQ: ABUS), a Vancouver -based biopharmaceutical company dedicated to discovering, developing and commercializing a cure for people with chronic hepatitis B virus (HBV) infection.
Earlier in his career, Mr. Cousins was EVP and Chief Financial Officer of Aspreva Pharmaceuticals (NASDAQ: ASPV), and played a leadership role in the sale of the company in 2008 to Galenica AG for approximately US$943 million . Prior to that, he served in a variety of senior financial management roles for Johnson & Johnson Corp (NYSE: JNJ).
"I am excited about joining Eupraxia, and the prospects for the Company, because I believe there is significant, untapped value in its proprietary extended-release technology platform, which is a key component of its internal pipeline of product candidates, including EP-104IAR for the treatment of knee osteoarthritis," said Bruce Cousins . "I am also confident that with the stewardship of our highly experienced board of directors, and the expertise and drive of the senior leadership team, that this is a company positioned to create significant long-term shareholder value going forward. I look forward to playing a meaningful role in that value creation."
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. In addition to EP-104IAR, Eupraxia is developing a pipeline of earlier-stage long-acting formulations. Potential pipeline candidates include a range of drugs for indications such as post-surgical pain (EP-105), and post-surgical site infections (EP-201), each designed to improve on the activity and tolerability of approved drugs. Eupraxia is also developing a formulation of EP-104IAR for use in canine and equine osteoarthritis.
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 plans, focus and objectives and the potential of Eupraxia's product candidates. Such statements and information are based on the current expectations of Eupraxia's management, and are based on assumptions and subject to risks and uncertainties. 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 the risk factors set forth in the Company's final prospectus under the heading "Risk Factors". 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.
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