Nov 4, 2020 in Press Releases

XPhyto Appoints European Healthcare Executive To Board Of Directors

• Experienced pharma executive and consultant Per S. Thoresen joins board
• Advisory engagement with CorpCann AS strengthens Europe-focused strategy

Vancouver, Canada (November 04, 2020) – XPhyto Therapeutics Corp. (CSE:XPHY / OTC:XPHYF / FSE:4XT) (“XPhyto” or the “Company”), a next-generation bioscience accelerator, is pleased to announce the appointment of Mr. Per S. Thoresen to the Company’s board of directors effective immediately.

Mr. Thoresen is an experienced leader with an impressive track record in a wide range of executive management roles in the pharmaceutical industry. He has 25 years’ experience including executive roles with major international European and Asian-based pharmaceutical companies and has more recently led a number of successful ventures in the pharmaceutical manufacturing, nutraceutical and other industry sectors. From 2003 to 2014, Mr. Thoresen was the managing director of Nycomed Pharma AS acquired by Takeda Pharmaceutical Company Limited in 2011 as part of an acquisition transaction with a total value of approximately USD $14B.

Mr. Thoresen holds a law degree from the top-ranked University of Oslo and core competencies in strategy and organizational development, operational execution, and industry and government relations. He is an experienced chairman and board member of numerous European industry associations and companies and is the co-founder and current chairman of Curida AS, a Norwegian-based contract development manufacturing organization focused on liquid pharmaceutical production.

“Mr. Thoresen is an important addition to XPhyto’s board of directors. His broad leadership experience in the pharmaceutical industry, from intellectual property and regulatory compliance to product manufacturing and distribution, presents an exciting opportunity for XPhyto,” said Hugh Rogers, CEO of XPhyto. “As a number of products in our pipeline are near commercialization, we expect Mr. Thoresen to be a valuable resource.”

In connection with the appointment, the Company has granted Mr. Thoresen 250,000 stock options (the “Options”) pursuant to the Company’s stock option plan. The Options vest immediately, subject to a four month statutory hold period, and are exercisable into 250,000 common shares of the company at a price of $1.80 for a period of five years.

XPhyto is also pleased to announce a strategic European advisor engagement with CorpCann AS (“CorpCann”). CorpCann is a Norwegian-based international investment and consulting firm focused on European and North American opportunities in the life science, nutraceutical, aquaculture and energy industries. With decades of leadership experience in debt and equity financing, IPOs, corporate restructuring, and strategic finance and business consulting, CorpCann is well positioned to facilitate XPhyto’s growth through strategic advice, relationships, and investments in Europe.