Ault Global Holdings Announces Adtech Pharma, Inc., an Innovative Biotech, Appoints Jodi Brichan to Its Board of Directors
September 27 2021 - 6:30AM
Business Wire
Ault Global Holdings, Inc. (NYSE American: DPW) a diversified
holding company (the “Company”), announced that Adtech
Pharma, Inc. (“Adtech”), has appointed Jodi Brichan, to its
Board of Directors. Ms. Brichan was a member of the board of
directors of the Company until August 13, 2021. In June of 2021,
the Company entered a securities purchase agreement (the
“Agreement”) with Adtech that granted the Company the right to
acquire up to 40% of the current equity in Adtech, an innovative
biotechnology company, for $3 million. The right to appoint Ms.
Brichan was provided for in the Agreement. The investment in Adtech
was made through Digital Power Lending, LLC, a wholly owned
subsidiary of the Company.
Jodi Brichan is a commercialization expert with more than 25
years of experience in bringing new products to market in
hypergrowth healthcare industries such as pharmaceuticals, medical
devices, energy devices, and life sciences. In her prior role as a
communications executive at two of the leading global
communications networks, Omnicom and Publicis, Ms. Brichan managed
the pharmaceutical portfolio of ophthalmology products for Alcon, a
leading eyecare company specializing in glaucoma. Over the past
five years, she has served on the board of directors for healthcare
and technology companies. Her significant experience in clinical
research, commercial product launches, and driving shareholder
value makes her the ideal board member for Adtech. She holds a
B.A.A. from Central Michigan University, Mount Pleasant,
Michigan.
Adtech is an innovative biotech firm that has developed a novel
formulation of a sole-sourced synthetic cannabinoid therapeutic
targeting glaucoma known as NB-110. Adtech believes that there is a
worldwide marketplace of over $4 billion in annual sales for
glaucoma eye drop therapeutics. NB-110 comprises a synthetic
cannabinoid Nabilone in the absence of any preservative and its
formulation mimics a human tear to drive efficacious delivery
through the cornea to the retina and optical nerves in the back of
eye. Based on Adtech’s preclinical findings, NB-110 is targeted to
lower interocular pressure and protect optical nerves for glaucoma
patients. Adtech believes its formulation makes this drug unique
and differentiates it from today’s marketed glaucoma
medications.
Milton “Todd” Ault, III, the Company’s Executive Chairman,
stated, “We are very pleased that Adtech has appointed Jodi Brichan
to its board of directors. We look to see Adtech benefit greatly
from Jodi’s experience, expertise, and success in nurturing
products through clinical development, early commercialization, and
ultimately impacting revenue creation in the biopharma and
healthcare sectors. Jodi is noted for her enthusiasm and energy
from her years of experience as an active member of a board
directors.” Ault added, “Adtech is a wonderful company led by a
great management team and is an example of how Ault Global
continues to grow our platform and invest in undervalued businesses
and disruptive technologies with a global impact.”
Dr. Robert Kupper, President and CEO of Adtech stated, “We are
very pleased to have appointed Jodi Brichan to our board of
directors. Ms. Brichan possesses a wealth of experience we
anticipate will be directly beneficial to Adtech. We are excited to
work with her and look to extend our partnership with Ault Global
Holdings to advance Adtech’s science and technology with a goal to
deliver medicines to patients in need.”
For more information on Ault Global Holdings and its
subsidiaries, the Company recommends that stockholders, investors
and any other interested parties read the Company’s public filings
with the SEC, available at www.sec.gov, and press releases
available under the Investor Relations section at
www.AultGlobal.com.
About Ault Global Holdings, Inc.
Ault Global Holdings, Inc. is a diversified holding company
pursuing growth by acquiring undervalued businesses and disruptive
technologies with a global impact. Through its wholly and
majority-owned subsidiaries and strategic investments, the Company
provides mission-critical products that support a diverse range of
industries, including defense/aerospace, industrial, automotive,
telecommunications, medical/biopharma, and textiles. In addition,
the Company extends credit to select entrepreneurial businesses
through a licensed lending subsidiary. Ault Global Holdings’
headquarters are located at 11411 Southern Highlands Parkway, Suite
240, Las Vegas, NV 89141; www.AultGlobal.com.
Forward-Looking Statements
This press release contains “forward looking statements” within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. These forward-looking statements generally include
statements that are predictive in nature and depend upon or refer
to future events or conditions, and include words such as
“believes,” “plans,” “anticipates,” “projects,” “estimates,”
“expects,” “intends,” “strategy,” “future,” “opportunity,” “may,”
“will,” “should,” “could,” “potential,” or similar expressions.
Statements that are not historical facts are forward-looking
statements. Forward-looking statements are based on current beliefs
and assumptions that are subject to risks and uncertainties.
Forward-looking statements speak only as of the date they are made,
and the Company undertakes no obligation to update any of them
publicly in light of new information or future events. Actual
results could differ materially from those contained in any
forward-looking statement as a result of various factors. More
information, including potential risk factors, that could affect
the Company’s business and financial results are included in the
Company’s filings with the U.S. Securities and Exchange Commission,
including, but not limited to, the Company’s Forms 10-K, 10-Q and
8-K. All filings are available at www.sec.gov and on the Company’s
website at www.AultGlobal.com.
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