VANCOUVER, British Columbia, May 26, 2017 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSXV:KALY) (OTCQB:KALTF), a
clinical-stage pharmaceutical company developing cannabinoid therapeutics for Graft versus Host Disease (“GvHD”), today announced the appointment of Ronald P. Erickson as
Interim Chairman of its Board of Directors. Kalytera also announced the resignations of Jerome B. Zeldis, M.D., Ph.D., Director,
and David Stefansky, Chairman.
“We are grateful to Dr. Zeldis and Mr. Stefansky for their service to Kalytera, and feel fortunate to have had the benefit of
their counsel. Both have played critical roles in the success of Kalytera, helping transform the company, most recently through
their guidance during the acquisition of Talent Biotechs and its clinical-stage Graft versus Host Disease program,” said Robert
Farrell, President, CFO, and COO of Kalytera. “The appointment of Mr. Erickson as our Interim Chairman will provide Kalytera with
guidance from a seasoned business executive with a substantial network and significant experience in growing companies in the
pharmaceutical sector and other industries.”
About Kalytera Therapeutics
Kalytera Therapeutics is a clinical-stage pharmaceutical company developing cannabinoid therapeutics. Through its proven
leadership, drug development expertise, and growing intellectual property portfolio, Kalytera seeks to establish a leading position
in the development of novel cannabinoid medicines for a range of important unmet medical needs, with an initial focus on Graft versus Host Disease (“GvHD”).
Kalytera is also developing proprietary cannabidiol (“CBD”) prodrugs intended for commercialization as FDA and EMEA-approved
prescription medications. CBD has shown activity against a number of pharmacological targets. However, there are limitations
associated with CBD, including its poor oral bioavailability. Kalytera’s CBD prodrugs have been designed to overcome these
limitations. In addition to licensed IP rights, Kalytera has filed composition of matter and method of use patents covering its
inventions to reinforce its position in the market.
Safe Harbor
This news release contains “forward-looking information” within the meaning of applicable securities laws, including in respect
of its product candidate pipeline, planned clinical trials, regulatory approval prospects, intellectual property objectives,
management goals, capital raising abilities and other statements included in this news release of a forward-looking nature.
Although Kalytera believes in light of the experience of its officers and directors, current conditions and expected future
developments and other factors that have been considered appropriate, that the expectations reflected in this forward-looking
information are reasonable, undue reliance should not be placed on them because Kalytera can give no assurance that they will prove
to be correct. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments
may differ materially from those contemplated by these statements. The statements in this press release are made as of the date of
this release. Kalytera undertakes no obligation to comment on analyses, expectations or statements made by third-parties in respect
of Kalytera, its securities, or its respective financial or operating results (as applicable). Kalytera disclaims any intent or
obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or
otherwise, other than as required by applicable securities laws.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of this release.
Company Contact Robert Farrell President, COO and CFO Phone: (888) 861-2008 Email: ir@kalytera.co
