as President and Chief Executive Officer
B.C. -- January 27, 2021 -- InvestorsHub NewsWire
a psychedelic drug development company, is
pleased to announce the appointment of accomplished pharmaceutical
executive Robert Tessarolo
its President and Chief Executive Officer.
25 years of experience in the pharmaceutical
Most recently he held the position of President and Chief Executive
Officer of Mind Medicine (Mindmed)
psychedelic drug discovery and drug development company now traded
on the NEO exchange, from September 2019 to January 2020.
Prior, Mr. Tessarolo was President and Chief
Executive Officer of Cipher Pharmaceuticals Inc., a diversified
specialty pharmaceutical company listed on the Toronto Stock
Exchange. His experience includes executive and key leadership
roles that span over two decades including commercial
development experience with obesity, addiction and neurologic
exciting times in psychedelic drug development. There is an array
of dynamic molecules that have been well characterized over the
years but have not been adequately studied
in the rigorous clinical trials necessary for regulatory
approval. NeonMind grabbed my attention with its
distinctive focus on the obesity market and desire to bring new
treatment modalities to patients suffering with obesity.
years promising new drugs to treat obesity have failed to gain
regulatory approval. This market remains underserved and
patients dissatisfied with current treatment options. A safe and
effective new approach would be well received," says
CEO, Robert Tessarolo. "NeonMind's
intellectual property portfolio makes it well positioned for
growth. I'm grateful to be at the helm of this organization to lead
its growth as it matures and makes what could be a truly
significant impact on the health and
well-being of populations worldwide."
operational experience and an impressive track record of scaling
high growth organizations in the pharmaceutical industry through
product innovation and M&A. He was part of the early team
at MindMed, a pioneer in psychedelic
drug development and the first psychedelics company to list on a
public exchange. Cipher Pharmaceuticals Inc. , which focuses on
acquisitions, in-licensing, and selective investments in drug
development, under his
leadership, was restored to positive EBITDA with the
execution of seven business development transactions in less than
18 months. He was the
first employee of
Watson Pharmaceuticals in Canada. Underhis leadership revenue grew from
$190M and he led the Canadian integration of major M&A
transactions including Watson integration of Warner Chilcott (~$5B
global acquisition), Forest Laboratories (~$28B global
acquisition) and Allergan (~$66B global
acquisition) in less than 18 months. He has secured tens of
millions in financing and hundreds of millions in revenue for
companies under his leadership.
preparation for Robert Tessarolo's
Penny White has been appointed Executive Chairman of the Board and
stepped down as President and CEO of NeonMind.
board is pleased to welcome Robert Tessarolo
the team," says Executive Chairman Penny White. "Rob has the
experience, drive and vision to lead NeonMind
the future and we are confident in his ability
to deliver growth in value for our shareholders."
is a preclinical
psychedelic drug development company. Its first proposed drug
candidate involves the administration of psilocybin (a complex
organic compound found in psychedelic
mushrooms) as a treatment for obesity and related illnesses for
which NeonMind is conducting a preclinical
trial at the University of British Columbia. NeonMind has filed five U.S.
provisional patent applications claiming methods of
aiding in weight
loss, treating compulsive eating disorder, treating obesity or a
complication of obesity, and/or altering the diet of an individual
by administering psilocybin and/or other psychedelic compounds or
their analogues or by administering psilocybin or its analogue in
conjunction with therapy or other treatments.
is also pursuing
commercialization of its catalogue of proprietary medicinal
mushroom product formulas. It recently launched a collection of
four mushroom-infused coffees containing medicinal mushrooms
Lion's Mane, Turkey Tail, Reishi and Cordyceps which are
available for purchase online in Canada at www.neonmind.com.
information on NeonMind, go to
President & CEO
The Canadian Securities Exchange has not reviewed, approved or
disapproved the contents of this news release.
Cautionary Statement Regarding Forward-Looking Statements
Certain statements contained in this press release constitute
forward-looking information. These statements relate to future
future performance. The use of any of the words "could", "expect",
"believe", "will", "projected","estimated"
and similar expressions and statements relating to matters that are
not historical facts are intended to identify forward-looking
information and are based on
current belief or assumptions as to the outcome and timing of such
future events. Actual
future results may differ materially. In particular,
drug development plans, its ability to retain key personnel, and
its expectation as to the development of its intellectual property
and other steps in its preclinical and clinical drug
constitute forward-looking information. Actual results and
developments may differ materially from those contemplated by
forward-looking information. Readers are cautioned not to place
undue reliance on forward-looking information. The statements
in this press release are made as of the date hereof.
disclaims any intention or obligation to publicly update or revise
any forward-looking information, whether as a result of new
information, future events or otherwise, except as may be
required by applicable securities laws.