- Ms. Fortin has served as a director for the company since April of this year, and will hold the Chair of the Board position until the next annual meeting of shareholders.
Small Pharma Inc. (TSXV: DMT), a neuropharmaceutical company focused on psychedelic-assisted therapies, is pleased to announce that Ms. Lyne Fortin has been appointed non-executive independent chair (“Chair”) of the board of directors of the Company (the “Board”). She will hold office as Chair of the Board until the next annual meeting of shareholders, or until her successor has been elected or appointed. Ms. Fortin has served as a director of the Company since April 29, 2021 and will continue to serve in her roles as chair of the Compensation Committee and the Corporate Governance and Nominating Committee and as a member of the Audit Committee.
“With 35 years of experience across Big Pharma and biotech, including 26 years at Merck, Lyne has already proven invaluable as an independent director and I couldn’t be happier to welcome her as Chair. Her in-depth experience will continue to be invaluable to Small Pharma as we look to build on the strong progress we have made this year,” said Peter Rands, Chief Executive Officer of Small Pharma.
Lyne Fortin, Chair of the Board, commented: “I am honored to be Chair of the Board of Small Pharma as the growing burden of mental health is in need of ground-breaking solutions. Small Pharma represents the perfect match of a clearly differentiated program in psychedelic research, with the drive of a strong and passionate team to deliver tangible results.”
In connection with her appointment, the Board has granted Ms. Fortin stock options (each, an “Option”) to purchase up to an aggregate of 150,000 common shares in the capital of the Company (each, a “Common Share”) pursuant to the Company’s stock option plan. Each Option is exercisable for one Common Share at a price equal to $0.40 per share, being the closing price of the Common Shares on August 25, 2021. The Options are exercisable for a period of ten years from the date of grant and are subject to certain vesting criteria.
About Small Pharma
Small Pharma is a neuropharmaceutical company specialised in IP led development of novel treatments for mental health conditions, with a focus on depression. Small Pharma initiated a clinical program into N,N-dimethyltryptamine (“DMT”) assisted therapy in February 2021. This program includes a Phase I/IIa trial on its lead candidate alongside development of a robust pipeline of proprietary preclinical assets.