Hon. Robert Hormats Joins Grace Therapeutics' Board of Directors
Published: Jul 10, 2018
Widely respected Diplomat and Wall Street Executive will serve on Grace's Board
EAST BRUNSWICK, N.J., July 10, 2018 /PRNewswire/ -- Grace Therapeutics, Inc., a clinical stage biopharmaceutical company, announced today that Robert D. Hormats, Vice Chairman of Kissinger Associates, Inc., has been appointed to its Board of Directors.
Dr. Hormats has been a senior official in the administrations of five American presidents, a top Wall Street executive and a major business leader working with companies throughout the world. His most recent government position was Under Secretary of State for Economic Growth, Energy and the Environment, which he assumed in 2009.
"We are honored to have Bob join Grace's Board of Directors. As the company advances its clinical development pipeline, he will bring valued insights from his extensive experience as a renowned strategist, savvy negotiator, critical thinker and global problem solver," said Vimal Kavuru, co-founder and Chairman, Grace Therapeutics.
"Bob's unprecedented expertise in business and finance, government and diplomacy are aligned with the rapid transformation and growth of our model from scientific concept to real-world medical solutions for rare and orphan diseases facing populations and markets throughout the world," said George Kottayil, PhD, Grace's co-founder and Chief Executive Officer. "As we advance toward 2019, a year that will bring important business and clinical milestones to our company, we look forward to leveraging Bob's guidance and perspectives."
Following key roles on the National Security Council staff, Dr. Hormats served as Deputy Assistant Secretary of State for Economic and Business Affairs, Deputy US Trade Representative with the rank of Ambassador and Assistant Secretary of State for Economic and Business Affairs. In these capacities, he was a leading US official on global trade and investment negotiations, represented the US at Group of Seven Economic Summits, and was US co-chair of bilateral commissions with India, China, the EU and Brazil.
In 1982, Hormats joined Goldman Sachs where he ultimately became Vice Chairman, Goldman Sachs (International). Over his 25-year plus career at the firm, he played major roles on a variety of international economic and financial matters, including privatizations of foreign state enterprises in countries such as China, Singapore, Britain, Germany and Mexico. He also was the firm's leading spokesman on the economic and financial outlook for the global economy as well as for key markets.
In 2013, Bob became Vice Chairman of Kissinger Associates, the New York based strategic international consulting firm that assesses and navigates emerging market geopolitical and macroeconomic risk for its clients. Bob has deep experience on matters related to Western Europe, Japan, China, Korea, India, Russia, the Middle East and South East Asia. His substantive areas of expertise include international trade and investment, intellectual property protection, foreign investment in the US and US investment abroad, protection of trade secrets and global energy issues.
"I am honored to join the Grace Board of Directors at this exciting time," said Dr. Hormats. "I see this as an opportunity to contribute to the highly innovative work this company is doing to combat rare and orphan diseases and aim to benefit people in this country and many parts of the world."
About Grace Therapeutics
Grace Therapeutics, Inc. is an innovative biopharmaceutical company focused on rare and orphan diseases. Grace utilizes unique delivery technologies in developing novel product formulations to address critical unmet needs.
Grace's development pipeline consists of five product candidates focused primarily on Central Nervous System diseases. Clinical studies are ongoing for three of these late stage assets, with the remaining two advancing toward the clinic. The company is pursuing multiple commercialization options for these products for maximum value creation in its path to becoming a fully integrated commercial and marketing organization.
Headquartered in East Brunswick, New Jersey, privately held Grace has strategic agreements with pre-eminent partners in contract research, manufacturing and market development. To learn more, visit www.gtrx.com.
SOURCE Grace Therapeutics