- Senior Pharmaceutical Industry Veteran to Join Board as Independent Director
- Basem Hanna Stepping Down from Board
TORONTO, Dec. 6, 2018 /PRNewswire/ – TerrAscend Corp. (CSE: TER; OTCQX: TRSSF) (“TerrAscend” or the “Company”) is pleased to announce the appointment of Craig A. Collard to the Board of Directors (the “Board”).
Mr. Collard has over 20 years of experience in the pharmaceutical industry with a proven track-record of leadership, managing organizational change, and driving successful merger and acquisition activity.
Mr. Collard is the CEO of Veloxis Pharmaceuticals (NASDAQ OMX: VELO), a commercial-stage specialty pharmaceutical company committed to improving the lives of transplant patients. A Danish company, Veloxis operates in the U.S. through Veloxis Pharmaceuticals Inc., a wholly-owned subsidiary headquartered in Cary, North Carolina.
Under Craig’s leadership, Veloxis successfully developed ENVARSUS XR (tacrolimus extended-release tablets) based upon the company’s unique and patented delivery technology, MeltDose®, which is designed to enhance the absorption and bioavailability of select orally administered drugs. He led the direct commercialization of ENVARSUS XR in the US, expansion of partnerships for markets around the world, and acquisition of assets utilized in transplant patients and by adjacent medical specialties. Mr. Collard is also a board member of Opiant Pharmaceuticals, Inc., a specialty pharmaceutical company developing therapies to treat substance abuse. Prior to Veloxis, Mr. Collard was the Founder and CEO of Nasdaq-listed Cornerstone Therapeutics, a company focused on hospital, respiratory and adjacent specialty markets. Under Mr. Collard’s leadership, the company grew from its inception in 2003 to its eventual sale in 2014 for US$300 million to Chiesi Pharmaceuticals. His previous experience also includes, Vice President, Commercial Operations at VERUM Pharmaceuticals, Director of National Accounts, for both DJ Pharma and Biovail Pharmaceuticals, Inc, and District Manager, Dura Pharmaceuticals.
Craig is an outstanding addition to our board, bringing extensive public company pharmaceutical experience to TerrAscend, further enhancing our corporate governance. His healthcare-oriented capital markets expertise, paired with his entrepreneurial drive, will serve our board well as we continue to execute on our US and rest of world growth strategy.
Jason Wild, Chairman of the Board.
Separately, the Company has accepted the resignation of Basem Hanna from the Board of Directors.
“On behalf of the board, I would like to thank Basem for his many significant contributions to the company. As a co-founder, former CEO and President, Basem has been essential to the genesis and success of TerrAscend. He was also critical to the completion of the recent reorganization, working tirelessly to help facilitate the transaction,” said Michael Nashat, Chief Executive Officer.
“I will always consider TerrAscend home and I am incredibly proud of the success we have achieved. I have great confidence in Jason Wild, Michael Nashat, and the entire TerrAscend team. I leave knowing the company is in good hands and see nothing but a bright future for TerrAscend,” said Basem Hanna.
About TerrAscend Corp.
TerrAscend Corp. is a biopharmaceutical and wellness company that is committed to quality products, brands and services for the global cannabinoid market. The Company provides support to patients and consumers through its wholly-owned subsidiaries, TerrAscend Canada Inc., a licensed producer of cannabis pursuant to the Cannabis Regulations under the Cannabis Act (Canada) that provides medical cannabis to patients through its online medical marketplace Solace Health, and Solace Health Network Inc., a clinical support program and education platform led by healthcare professionals. The Company participates in the legal adult-use market in Canada through direct and indirect supply agreements in several provinces and has stated it intends to expand into the US market in states where cannabis has been legalized for therapeutic or adult-use. The Company also has an interest in Ascendant Labs, a cannabis biotechnology and licensing company committed to the continuous improvement of the cannabis plant, which is a strategic joint venture with leading researchers Cistron Corp.