George Tziras to Succeed Peter Rands as Small Pharma Chief Executive Officer

Small Pharma Inc. (TSXV: DMT | OTCQB: DMTTF), a biotechnology company focused on short-acting psychedelic-assisted therapies for mental health conditions, is pleased to announce that the Company’s board of directors (the “Board”) has appointed Mr. George Tziras as Chief Executive Officer of the Company, effective as of July 20, 2022. Mr. Peter Rands, founder and current CEO, will take on the role of Chief Innovation & Intellectual Property Officer of the Company. Mr. Rands will be relocating to the United States as part of a planned succession to better position the business for the later stages of clinical development and establishing the Company’s footprint in the United States. Mr. Rands will continue to serve on the Board following the transition.

Lyne Fortin, Chair of the Board, said: “With key data expected from our lead candidate, SPL026, and the anticipated launch of new clinical trials later this year, we have focused on building strength and breadth to our leadership team. George brings decades of international capital markets expertise and relationships, and critically he brings a sharp focus on corporate strategy to take the business forward at this pivotal stage of the Company’s growth. I would also like to take this opportunity to thank Peter. Small Pharma is the organization it is today due to his vision, entrepreneurship and ambition to find innovative therapeutic solutions for under-served mental health patients. With the recent addition of Dr. Alastair Riddell as COO, and Peter focused on innovation and intellectual property, we have a strong team to support George as he leads Small Pharma in building its reputation as a world leader in alternative treatments for mental health.”

Peter Rands, current CEO and future CIIPO of Small Pharma, added: “I am delighted to be handing the reins of the Company to my colleague, George. The best biotech companies must always have the right person at the top to take them through each stage of development. I am proud of what we have achieved in building the foundations of Small Pharma and now is the right time for George, with his deep understanding of markets, deal structure and business expertise to lead the Company into our critical next phase of evolution. For me, my new role is taking me back to where my heart is: innovation and the protection of it. I look forward enormously to supporting George in this job as we continue to shape the future of mental health treatment.”

Mr. Tziras initially joined Small Pharma in 2015 as a director of Small Pharma Ltd, the Company’s main operating subsidiary, before also being appointed to the role of CBO and director of the Company in 2021. George has been pivotal in building the Company’s reputation across the capital markets, leading to the successful fundraising of CDN$63 million in 2021, and its transformation from a private to a public company. His role has been responsible for business development and strategy, investor relations and overseeing corporate activities. Prior to joining Small Pharma full-time, George was an Executive Director at Goldman Sachs. George has over 15 years’ experience in investment banking and international capital markets, having worked at a number of global financial institutions including Credit Suisse, Nomura, Lehman Brothers and CIBC. Over the course of his career, he has executed a broad range of transactions including debt and equity financings; mergers, disposals and acquisitions; and private equity buyouts and debt restructurings, all across a number of industries, including healthcare. Mr. Tziras holds a BA degree in Economics and Management from the University of Oxford and a MA degree in International Relations from the Johns Hopkins School of Advanced International Studies.

In relation to Mr. Tziras’ appointment as CEO of Small Pharma, the Board has granted him options to purchase up to an aggregate of 1,000,000 common shares in the capital of the Company (the “Common Shares”) pursuant to the Company’s stock option plan. Each option is exercisable for one Common Share at a price equal to the greater of (i) $0.105 per Common Share; and (ii) the closing price of the Common Shares on July 18, 2022, being the first trading day after the release of the Company’s financial results. The options are exercisable for a period of ten years and are subject to certain vesting requirements.

Small Pharma is a biotechnology company progressing a pipeline of short-acting psychedelics with therapy for the treatment of mental health conditions, with a current focus on depression. Small Pharma initiated a clinical program into N,N-dimethyltryptamine (“DMT”) assisted psychotherapy in February 2021. This program includes a Phase I/IIa trial on the Company’s lead candidate alongside the development of a pipeline of proprietary preclinical assets.

DMT is a naturally occurring psychedelic tryptamine found in plants and in the brain of mammals. Scientific evidence suggests DMT offers the potential for rapid-acting and long-lasting antidepressant effects. DMT is differentiated by its short psychedelic experience (< 30 mins), which allows for short treatment sessions and offers the potential for convenient supervised treatments within patient clinics.