VANCOUVER, British Columbia, March 17, 2017 (GLOBE NEWSWIRE) -- Kalytera Therapeutics, Inc. (TSXV:KALY) today announced that Mr. Pini Ben-Elazar has been appointed to Kalytera’s Board of Directors.
In connection with Kalytera’s recent acquisition of Talent Biotechs, Ltd., the selling shareholders of Talent had the right to nominate a person to join Kalytera’s Board of Directors. The selling shareholders nominated Mr. Ben-Elazar.
Mr. Ben-Elazar is the Chief Executive Officer of Mor Research Applications (“Mor”), a wholly-owned subsidiary of Clalit Health Services (“Clalit”), the largest HMO in Israel. Mor serves as the technology transfer arm for all inventions created by Clalit professional staff and provides tools to develop ideas into applicative research. Mor’s commercialization portfolio includes a number of successful startups in the medical, pharmaceutical, and biotechnology fields, and 60+ projects in various stages of development.
About Kalytera Therapeutics
Kalytera (TSXV:KALY) is a clinical-stage pharmaceutical company pioneering the development of a next generation of cannabinoid therapeutics. Through its proven leadership, drug development expertise, and 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 a new class of proprietary cannabidiol (“CBD”) therapeutics. CBD is a remarkable compound that has shown activity against a number of pharmacological targets. However, there are limitations associated with natural CBD, including its poor oral bioavailability. Kalytera is developing innovative CBD formulations and prodrugs in an effort to overcome these limitations, and to target specific disease sites within the body. Kalytera intends to file composition of matter and method of use patents covering its novel inventions, with the goal of limiting future competition.
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Forward-Looking Statement Disclosure
This news release may contain “forward-looking information” within the meaning of applicable securities laws. 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.