TORONTO, Jan. 30, 2024 (GLOBE NEWSWIRE) -- Huxley Health Inc. (“Huxley” or the “Company”) is pleased to provide you with a comprehensive corporate update, highlighting significant milestones and developments that have shaped Huxley over the past year.
Key Highlights:
SINTALICA ACQUISITION
The Company is pleased to announce that effective September 26th, 2023, it completed a share purchase agreement (the “Purchase Agreements”) to acquire 100% of the issued and outstanding shares of Sintalica Corp. (“Sintalica”) in exchange for 24,290,333 common shares of Huxley at a deemed price of $0.30 per share (the “Transaction”).
Sintalica is a Canadian drug discovery company operating through its Italian subsidiary focused on using psychedelics to create breakthrough treatments for neuroinflammatory disorders. Sintalica has filed four provisional patents for proprietary psychedelic molecules with unique properties, improved stability and safety profiles, and enhanced bioavailability.
BOARD OF DIRECTOR CHANGES
On November 15th, 2023, Huxley welcomed a new board of directors, and formalized the resignation of Michael Marchese, who has served as the company’s sole director since inception. Huxley extends a warm thank you to Michael for his support and contributions.
APPOINTMENT OF BRUCE LINTON AS CHAIRMAN
Bruce Linton (Chairman)Huxley Health is delighted to announce the appointment of Bruce Linton as Chairman of its Board of Directors (the “Board”).
Bruce Linton is a proven disruptive leader in Technology, Cannabis, and Global Wellness Industries. Founder, former CEO, and Chairman of Canopy Growth Corporation. Under his Leadership Canopy achieved a peak valuation of over $20 billion CAD.
Bruce currently holds the role as chair of the advisory board of Red Light Holland Corp. (CSE:TRIP)
“As a Co-Founder and Chairman of Huxley, I’m excited to help steward this innovative company and make a profound impact on healthcare discoveries.” Bruce Linton, Co-Founder and Chairman.
ADDITIONAL APPOINTMENTS
Fabian Monaco (Board Member)
As a lawyer and investment banker by profession, he has held roles in large multi-national legal firms and investment banks. Mr. Monaco is also the co-founder and former CEO of Gage Growth Corp., which was acquired by TerrAscend Corp. (TSX: TSND) (OTCQX: TSNDF) , for $500M+ in 2022.
John Di Girolamo (Board Member)John Di Girolamo is an experienced investor and entrepreneur with over twenty years of global business experience in public and private investments.
For full team BIOs please visit: HUXLEY TEAM | Huxley Health Inc. (the-huxley-group.com)
NEW MANAGEMENT ADDITIONS
Jared Rhines, MBA (Chief Executive Officer): With over 30 years of pharmaceutical industry leadership experience, Mr. Rhines’ experience spans clinical research, regulatory affairs, sales, marketing, and market access in multiple therapeutic areas, including rare diseases, neurology, cardiology, and critical care. Jared along with 5 colleagues, founded INO Therapeutics, a company which was eventually acquired for $2.3B USD.
George Jackowski, PhD (Chief Science Officer) : Dr. George Jackowski, Ph.D. Has significantly impacted the Healthcare/Biotech Sector over a 35-year career, founding over 20 companies. Clearing 25 products through the US FDA, commercializing them globally, with revenues exceeding $10 billion USD, he holds over 200+ Issued patents.
Peter Kampian, CPA, CA, ICD.D (Chief Financial Officer) : 35+ Years of financial management of publicly traded companies in regulated industries.
ADVANCEMENTS IN INTELLECTUAL PROPERTY:
Huxley plans to continue filing high-value patents to bring shareholder value. These patents span New Molecules, Nano Formulations, AI-guided Drug candidates, and Disease Indications.
ABOUT HUXLEY
Huxley Health is a private global biotechnology enterprise, harnessing the power of psychedelics to develop groundbreaking therapies for neuroinflammatory and neuropsychiatric disorders.
Since its inception, the company, along with its subsidiary Sintalica, has raised approximately $6 million CAD to date. Huxley Health Inc. is committed to continuing to pursue financing as needed to support its growth initiatives.
“I am honored to lead Huxley into a new era of growth and scientific discovery. With veteran board members, world-class scientific collaborators and robust IP and talent, I am confident to make strides in our goal of ultimately improving the lives of patients through innovation in psychedelics.” Jared Rhines, CEO.
UPCOMING EVENT:
Huxley Health Inc. is hosting a private, invite-only event for an opportunity to interact with the new Huxley team, view a corporate presentation, and gain insights into the company's future. If you are interested in attending, please contact: events@huxley-group.com.
For further information or Investor and Media inquiries contact: investor.relations@huxley-group.com
Visit us on the web at: Huxley Health Inc. (the-huxley-group.com)
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION : This News Release may include certain "forward-looking statements" which are not comprised of historical facts. Forward-looking statements include statements that describe the Company’s future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Although these statements are based on information currently available to the Company, the Company provides no assurance that actual results will meet management’s expectations.
Huxley is a privately held company. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States or other jurisdictions.
