Additions to support immediate commercialization efforts for the Company’s COVID-19 vaccine candidate
BURLINGTON, Ontario–(BUSINESS WIRE)–Rapid Dose Therapeutics Corp. (“RDT” or the “Company”) (CSE: DOSE), a Canadian biotechnology company revolutionizing drug delivery through innovation, is pleased to announce a significant addition to the Company’s leadership team with the appointment of Rodney Butt as the lead consultant overseeing the development of the Company’s COVID-19 vaccine delivery platform. Initial results demonstrate viability and stability of both protein-based and mRNA-based vaccine candidates when incorporated into the oral dispersible film.
Mr. Butt brings a wealth of expertise to RDT with more than 30 years prescription drug development experience. Mr. Butt has been involved in all aspects of pharmaceutical drug development, clinical trial design, as well as optimizing organizational design. Previously, Mr. Butt has held many important roles, including President of Adiga Life Sciences, a joint venture between McMaster University and Circassia (UK), Business Unit Manager for AAIPharma, a US based CRO and Director of Research for Boehringer Ingelheim where he managed a 50-member team actively engaged in all aspects of clinical research activities. In addition, Mr. Butt was a member of the Germany-based Clinical Expert Group responsible for managing cardiovascular drug development. Mr. Butt is a frequent speaker at pharma Industry events and is a lecturer in drug development at the University of Guelph. Mr. Butt completed his MSc in Clinical Trial Methodology at McMaster University and his MBA at Queen’s University.
“We are thrilled that Mr. Butt has chosen the commercialization of the RDT COVID-19 vaccine delivery candidate as the next major project that he will undertake, adding to his vast expertise bringing novel products to market,” said Mark Upsdell, CEO, Rapid Dose Therapeutics. “His extensive relationships within the pharmaceutical sector along with his expertise with clinical trial management gives us tremendous confidence that Mr. Butt is the ideal addition to our leadership team.”
Rapid Dose Therapeutics would also like to confirm their commitment to bringing scientifically sound and medically relevant products to the market with the appointment Dr. Richard Tytus to the Company’s Advisory Board. Dr. Tytus will be responsible for supporting RDT’s leadership with strategic counsel and will facilitate introductions to relevant partners that will enhance commercialization of the RDT COVID-19 vaccine delivery system.
Dr. Tytus is an Associate Clinical Professor in the Department of Family Medicine at McMaster University and co-founder of Banty, a virtual medical video platform. He has a proven track record working with innovative approaches that enhance a patient’s interaction with health care providers. Dr. Tytus is the Chair for District Four of the Ontario Medical Association (OMA) and an active member of the National Virtual Care Task Force. Previously, he served on the Board for the OMA, is Past-Chair of OntarioMD, and Past President of the Hamilton Academy of Medicine. Dr Tytus is a well-respected member of the medical community a leader in medical education.
“The addition of Dr. Tytus to our Advisory Board opens many doors for us with pharmaceutical companies and medical professionals, institutions and investors, all critical to the successful commercialization of our game changing COVID-19 vaccine delivery platform,” added Mr. Upsdell. “Dr. Tytus will be instrumental in helping to introduce our breakthrough technology and support the implementation of our strategic alliances needed to bring this product to fruition.”
In addition, the Company is announcing the granting of incentive stock options to Mr. Butt and Dr. Tytus to purchase, in total, 500,000 common shares at an exercise price of $.58 per share. The options vest equally every six months over a two-year period and expire on December 14, 2026.
About Rapid Dose Therapeutics Corp.
Rapid Dose Therapeutics is a Canadian biotechnology company revolutionizing drug delivery through innovation. The Company’s flagship product QuickStrip™ is a thin, orally dissolvable film, that can be infused with an infinite list of active ingredients (nutraceuticals, pharmaceuticals, vaccines, cannabis) that are delivered quickly into the bloodstream resulting in rapid onset of the active ingredient.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS:
Certain information in this news release may contain forward-looking information within the meaning of applicable securities laws. Any statements that are contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expect”, “potential”, “believe”, “intend”, “will”, “could”, “are planned to”, “are expected to” or the negative of these terms and similar expressions. Statements containing forward-looking information, including, without limitation, in respect of the delivery of equipment and products using the QuickStrip™ product delivery method, the generation of recurring revenues, as at the date of this news release, the plans, estimates, forecasts, projections, expectations or beliefs of RDT management as to future events or results and are believed to be reasonable based on information currently available to RDT management. Forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; marketing costs; loss of markets; termination of WLM agreements; future legislative and regulatory developments involving cannabis; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; the cannabis industry in Canada generally, income tax and regulatory matters; the ability to implement its business strategies; competition; currency and interest rate fluctuations and other risks. Readers are cautioned that the foregoing list is not exhaustive. There can be no assurance that statements of forward-looking information, although considered reasonable by RDT management at the time of preparation, will prove to be accurate as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Actual results and future events could differ materially from those anticipated in such forward-looking statements. Readers should not place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement.
Mark Upsdell, CEO