CALGARY, Alberta, May 13, 2021 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the “Company”) (CSE: XRX; OTCQB: XRTXF), a biotechnology company focused on developing innovative therapies to treat progressive kidney disease, is pleased to announce the appointment of Mr. William “Bill” Farley to the Company’s board of directors.
Bill Farley has over three decades of experience in life science discovery and development. He has held leadership positions in multiple organizations, including Sorrento Therapeutics, Wuxi Apptec, Pfizer, and Johnson & Johnson. Mr. Farley is a frequent speaker at industry conferences and has been published in a variety of journals.
“We are pleased to welcome and add an experienced life sciences industry professional of Bill’s caliber to the XORTX board of directors. Bill’s extensive pharmaceutical industry partnering, executive management, technology commercialization and company building experience will further enhance XORTX’s future growth opportunities,” stated Dr. Allen Davidoff, XORTX President and CEO.
Mr. Farley added, “The opportunity to join the board of XORTX on the Company’s mission to create new therapeutics for kidney disease is an honor and privilege at this momentous time in the Company’s growth trajectory.”
"Bill Farley will be a key person for XORTX as we move forward with global development plans," commented Dr. David Sans, Corporate Development consultant supporting the President and CEO of XORTX, Dr. Allen Davidoff.
XORTX also announces that it has granted in accordance with the Company’s stock option plan an aggregate of 500,000 options to purchase common shares of the Company, 250,000 to William Farley and 250,000 to a consultant of the Company. The options granted are exercisable at $0.16 for a period of five years.
About XORTX Therapeutics Inc.
XORTX Therapeutics Inc. is a biotechnology company with three clinically advanced products in development – XRx-008 for Autosomal Dominant Polycystic Kidney Disease (ADPKD), XRx-101 for Coronavirus / COVID-19 infection and XRx-225 is a pre-clinical stage program for Type 2 Diabetic Nephropathy (T2DN). The Company has intellectual property rights and established proof of concept through independent clinical studies. XORTX is working to advance its clinical development stage products that target xanthine oxidase to inhibit production of uric acid. At XORTX Therapeutics, we are dedicated to developing medications to improve the quality of life and future of patients. Additional information on XORTX Therapeutics is available at www.xortx.com.
For further information, please contact:
| Allen Davidoff, CEO | Bruce Rowlands, Chairman | ||
| adavidoff@xortx.com or +1 403 455 7727 | browlands@xortx.com or +1 416 230 7260 |
Neither the Canadian Securities Exchange, nor any other Canadian, US or other foreign stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.