Nuvo Pharmaceuticals Announces Appointment of Rob Harris as Executive Chairman
MISSISSAUGA, ON, Jan. 3, 2019 /PRNewswire/ - Nuvo Pharmaceuticals Inc. (Nuvo or the Company) (TSX : NRI; OTCQX : NRIFF), a Canadian focused, healthcare company with global reach and a diversified portfolio of commercial products, today announced the appointment of Rob Harris as its Executive Chairman. Mr. Harris joined Nuvo's board of directors in May 2017 and was previously the co-founder and Chief Executive Officer of Tribute Pharmaceuticals Inc. (Tribute), formerly a Toronto Stock Exchange listed company. Tribute was purchased in 2016 by Aralez Pharmaceuticals Inc., renamed Aralez Canada Inc. and then purchased by Nuvo in a transaction that was completed December 31, 2018. Mr. Harris assumes the Executive Chairman role from John London who will become the Company's non-executive Vice-Chairman. Both Mr. Harris and Mr. London will continue as members of the Nuvo board.
"We are pleased that Rob was available and willing to assume this important leadership role at Nuvo," said John London, Nuvo's Vice-Chairman. "As the co-founder of Tribute, Rob is intimately familiar with the products, personnel and infrastructure that Nuvo has just acquired. His over 35 years of pharmaceutical experience will prove invaluable as we embark on the process of effectively integrating and growing our newly acquired and existing businesses."
"The Aralez transaction is truly transformational for Nuvo," said Rob Harris and "I welcome the opportunity to work more closely with Jesse Ledger, our CEO and the entire Nuvo team who worked tirelessly in 2018 to complete this transaction. Similarly, the Aralez Canada team has achieved significant growth since the sale of Tribute in 2016 and the integration of both teams will lead to a much stronger, combined business."
Mr. Harris has over 35 years of pharmaceutical industry experience in both Canada and the United States in sales, marketing, business development and general management. Mr. Harris most recently served as President and CEO of Tribute Pharmaceuticals. Prior to co-founding Tribute Pharmaceuticals, Rob was the President & CEO of Legacy Pharmaceuticals Inc. Mr. Harris also has previous experience at Biovail Corporation where as Vice President of Business Development, he was involved, led and successfully concluded numerous business development transactions, including the licensing of new chemical entities, the acquisition of mature products, the completion of co-promotion deals, distribution agreements, product development and reformulation transactions. Prior to Biovail, Mr. Harris worked in various senior commercial management positions during his twenty-year tenure at Wyeth (Ayerst) including its animal health group and has been involved in numerous product launches during his career.
About Nuvo Pharmaceuticals Inc.
Nuvo (TSX: NRI; OTCQX: NRIFF) is a Canadian focused, healthcare company with global reach and a diversified portfolio of commercial products. The Company targets several therapeutic areas, including pain, allergy and dermatology. The Company's strategy is to in-license and acquire growth-oriented, complementary products for Canadian and international markets. Nuvo's head office is located in Mississauga, Ontario, Canada, the international operations are located in Dublin, Ireland and the U.S. Food and Drug Administration (FDA), Health Canada and E.U. approved manufacturing facility is located in Varennes, Québec, Canada. For additional information, please visit www.nuvopharmaceuticals.com.
This press release contains "forward-looking statements" within the meaning of applicable securities laws. Forward-looking statements can be identified by words such as: "anticipate," "intend," "plan," "goal," "seek," "believe," "project," "estimate," "expect," "strategy," "future," "likely," "may," "should," "will" and similar references to future periods. Forward looking information in this press release includes, but is not limited to, statements with respect to the anticipated benefits of the acquisition to Nuvo's shareholders. The forward-looking information contained in this press release is based on certain expectations and assumptions made by Nuvo, including management's current beliefs related to the operationalization of the acquired products and related assets; and the receipt of shareholder approval.
Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on the Company's current beliefs, expectations and assumptions regarding the future of its business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of the Company's control. Nuvo's actual results and financial condition may differ materially from those indicated in the forward-looking statements due to a number of factors and risks. Material factors and assumptions used to develop the forward-looking information contained in this news release, and material risk factors that could cause actual results to differ materially from the forward-looking information, include but are not limited to the failure to obtain shareholder approval; material adverse changes in the business or affairs of the acquired businesses or Nuvo; competitive factors in the industries in which the acquired businesses and Nuvo operate; interest rates, prevailing economic conditions; and other factors, many of which are beyond the control of Nuvo. Additional factors that could cause Nuvo's actual results and financial condition to differ materially from those indicated in the forward-looking statements include, among others, the risk factors included in Nuvo's most recent Annual Information Form dated March 22, 2018 under the heading "Risks Factors", and as described from time to time in the reports and disclosure documents filed by Nuvo with Canadian securities regulatory agencies and commissions. These and other factors should be considered carefully and readers should not place undue reliance on Nuvo's forward-looking statements. As a result of the foregoing and other factors, no assurance can be given as to any such future results, levels of activity or achievements and none of Nuvo or any other person assumes responsibility for the accuracy and completeness of these forward-looking statements.
Any forward-looking statement made by the Company in this press release is based only on information currently available to it and speaks only as of the date on which it is made. Except as required by applicable securities laws, Nuvo undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
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SOURCE Nuvo Pharmaceuticals Inc.
Company Codes: OTC-QX:NRIFF, Toronto:NRI