VICTORIA, BC, May 3, 2021 /CNW/ - 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."
About Eupraxia
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.