Vancouver, British Columbia–(Newsfile Corp. – January 18, 2021) – Lobe Sciences Ltd (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company“) is pleased to announce the appointment of Mr. Philip J. Young as Chief Executive Officer, Corporate Secretary and a director of the Company, effective January 15, 2021. Mr. Young replaces Thomas Baird, who resigned as CEO as of the same date.
Philip Young is an accomplished CEO and innovative professional with 25 years of expertise in senior executive management and board roles, with significant mergers and acquisitions and equity financing experience. He has a proven track record in the biotech, medtech and pharmaceutical industries with expertise in dealing with FDA/regulatory frameworks as well as new device and therapeutics development. From 2015 until 2019, Mr. Young was the Founder, Chairman, and CEO of Exactus Inc. (“Exactus“), an OTCQB listed company he successfully transitioned from a medical technology company to a farming focused hemp-derived CBD company.
Prior to Exactus, Mr. Young was the president, CEO, and Director of AmpliPhi Biosciences Corp. (now Armata Pharmaceuticals Inc.), a global biopharmaceutical company. He was also previously the President, CEO and a director of Osteologix Inc., where he was responsible for directing and managing all facets of the global pharmaceutical development company. He is the former Chief Business Officer and Executive Vice President of Insmed Inc., where he directed all financing, corporate and commercial communications activities. Prior thereto, he was the Vice President and General Manager of Neurex Corp., where he was involved with the negotiations for its US$700 million acquisition by Elan Corporation. Mr. Young holds a Bachelor’s of Science from James Madison University.
Jonathan Gilbert, Executive Chairman of Lobe, states, “We are very pleased to have Philip join our Lobe executive team. His addition is the latest in our strategy to strengthen our overall team, including recent additions to our industry renowned research and development partner, our board of directors and strategic advisors. Phil brings a wealth of experience in building companies, developing therapeutics and creating shareholder value, which is expected to support our current focus on advancing Lobe’s proprietary nasal device, furthering our pre-clinical study with the University of Miami and growing the Company through M&A. He has a demonstrated track record of senior leadership skills, capital markets acumen and FDA and regulatory experience. We will leverage these attributes as we progress with our nasal mist device engineering and overall therapeutics development initiatives involving psychedelic medicine. We are excited by his commitment to achieve the Company’s key strategic priorities.”
Philip Young states, “I look forward to working closely with Lobe’s board and executive team to grow the Company. I see great potential in the Company in this exciting and evolving industry where I can utilize both my therapeutics development/regulatory expertise and M&A experience to add value. We plan on continuing to build on Lobe’s progress made to date, in particular on the nasal device engineering and pre-clinical study with the University of Miami, as well as actively pursuing other M&A growth objectives.”
The Company also announces the grant of stock options to certain directors, officers and consultants to purchase an aggregate of 7,400,000 common shares, at a price of $0.15 per share for three years from the date of grant in accordance with and subject to the terms of Lobe’s stock option plan. 2,000,000 of the stock options are subject to vesting provisions, with 12.5% of such options vesting on the date of grant and 12.5% every quarter thereafter.
About Lobe Sciences Ltd.
Lobe is a growth-oriented research, technology & services company that provides financial, management, IP and branding support to businesses. The Company operates a portfolio of companies focused on developing transformational medicines and applies refined strategies to help partner companies reach their full potential. Based in Vancouver, BC, Lobe Sciences creates value through acquisitions and development of assets, products and technologies by leveraging its scientific, engineering, branding and operational expertise supported by strong capital markets acumen.
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