Theralase® Announces Leadership Reorganization
Toronto, Ontario – November 15, 2021, Theralase® Technologies Inc. (“Theralase®” or the “Company”) (TSXV: TLT) (OTCQB: TLTFF), a clinical stage pharmaceutical company dedicated to the research and development of light activated Photo Dynamic Compounds (“PDC”) and associated drug formulations, announced today the following leadership reorganization:
Effective November 15, 2021, Dr. Arkady Mandel, M.D., Ph.D., D.Sc., who is currently the Chief Scientific Officer (“CSO”) of the Company, will assume the role of Interim Chief Executive Officer (“CEO”), replacing Mr. John Trikola in the role of Interim CEO of the Company.
Mr. Trikola has agreed to resign from his positions as the Chief Operating Officer and Interim CEO of the Company effective immediately, as a result of certain facts that have come to the Company’s attention concerning Mr. Trikola’s background that the Company’s vetting process failed to detect. The Company is currently taking steps to improve its vetting process for incoming officers and directors.
Effective October 25, 2021, Dr. Vera Madzarevic, Ph.D. will assume the role of Director of Clinical Development and Quality Assurance reporting to Dr. Mandel.
Dr. Madzarevic holds a Ph.D. in both clinical pharmacology and biochemistry and brings over 25 years of global experience in clinical research and quality assurance in the biopharmaceutical and medical device industry to Theralase®.
For the last 20 years, Dr. Madzarevic has been the Global Director, Clinical Research Services and Medical Affairs for Global Research Pharma Canada, a contract Clinical Research Organization (“CRO”), where she was involved in all phases of clinical development (Phase I to IV), training, product development, strategic planning and for implementing, monitoring and managing clinical and scientific activities for clients worldwide.
Prior to this appointment, she was employed as a senior clinical research scientist for Novartis Pharmaceuticals based in New Jersey, USA.
Dr. Madzarevic, appointed Director of Clinical Development and Quality Assurance at Theralase® stated, “It is a pleasure to join the Theralase® clinical research team, reporting to Dr. Mandel. I feel my extensive global experience in clinical research and quality assurance will support the Company’s primary objective of successfully developing with the objective of commercializing its Anti-Cancer Therapy (“ACT”) technology.”
Dr. Mandel, CSO and Interim CEO of Theralase® stated, “I am honored to return as the Interim CEO for the Company, as the Company realigns its executive management team to focus on the Company’s primary objective of commercialization of its ACT technology, which, if successful, will ultimately deliver shareholder value.”
Mr. Matthew Perraton, Chairman of the Board of Directors of Theralase® stated, “On behalf of the Board of Directors, we believe that Dr. Madzarevic will be a great addition to the Company in the role of Director of Clinical Development and Quality Assurance and we welcome her to the clinical team. This reorganization in leadership allows Dr. Mandel to assume the role of Interim CEO and devote attention to the successful commercialization of our ACT technology for Non-Muscle Invasive Bladder Cancer (“NMIBC”), as well as other oncological conditions, such as Glio Blastoma Multiforme (“GBM”) and Non-Small Cell Lung Cancer (“NSCLC”).”
