Adhera Therapeutics Provides Insight on Corporate Strategy Corporate Development
On September 9, 2021, the Company announced the appointment of Andrew G. Reaume, Ph.D., MBA to the Company’s Board of Directors. Dr. Reaume is the President, CEO and Co-Founder of Melior Discovery, a pharmaceutical company specialized in in vivo disease models and drug repositioning, and the parent company of Melior 1 and Melior 2. Dr. Reaume, who earned his MBA from the Wharton School of the University of Pennsylvania and PhD in genetics from the University of Connecticut, has a deep understanding of MLR-1019 and MLR-1023 and will be instrumental in the next phases of clinical trials, as well as business development and adding additional accelerated drug candidates to the Adhera pipeline.
“We are very pleased about the positioning of our company today with two Phase 2-ready drug candidates indicated for extremely large market opportunities, as existing therapeutics for PD and Type 1 diabetes are lacking,” commented Andrew Kucharchuk, Chief Executive Officer at Adhera Therapeutics. “We are particularly excited about the pivot to Type 1 diabetes, which we model to positive Net Present Value (NPV), versus a flat NPV for Type 2. Given the dearth of oral medications for Type 1 diabetes, we are optimistic that we will garner attention from institutions and potentially large pharma as we advance our clinical work of MLR-1023.”
The Company is beginning the process to graduate to OTC Markets’ OTCQB marketplace. With the ultimate goal of a NASDAQ listing, Adhera sees the move to meet all OTCQB requirements as an important demonstration of management’s commitment to complete transparency, maximum exposure and building shareholder value.
https://www.globenewswire.com/news-release/2021/09/13/2295931/0/en/Adhera-Therapeutics-Provides-Insight-on-Corporate-Strategy-Development-of-Parkinson-s-Disease-and-Type-1-Diabetes-Drugs.html