TORONTO, ONTARIO--(Marketwire - Jan 3, 2013) - Trimel Pharmaceuticals Corporation (TRL.TO) (the “Company” or “Trimel”) announced that effective today Bruce D. Brydon has stepped down as Trimel’'s Chief Executive Officer. Mr. Brydon, with the unanimous support of the Company’'s Board of Directors, has announced that Tom Rossi has been appointed to the position of Chief Executive Officer. Mr. Brydon will remain as Chairman of the Board of Directors.
Mr. Rossi joined Trimel in August of 2011 as President and was subsequently promoted in March 2012 to include the position of Chief Operating Officer. Mr. Rossi (48), a native of Montreal, holds a BSc from McGill University and an MBA from Concordia University. Mr. Rossi has 25 years of successful industry experience. He has held senior positions with several major multi-national corporations including Johnson & Johnson, Boehringer Mannheim (now Roche), Merck & Co. and most recently Novartis Pharmaceuticals, where he served in a number of senior positions reaching the level of Chief Executive Officer for operating businesses in Belgium and most recently in Canada.
Mr. Brydon offered the following comment: “After 18 months as a reporting issuer on the Toronto Stock Exchange, it was time to take the next step in the development of the Company and separate the roles of the Chairman and the Chief Executive Officer. Trimel’'s realigned governance structure is consistent with best practices of corporate governance.”
Mr. Brydon further commented: “The appointment of Mr. Rossi to the position of Chief Executive Officer establishes a more robust framework for the operation of the business and its continued success. With Mr. Rossi as Chief Executive Officer, I will have greater latitude to concentrate my energies on the stewardship of the Company and various strategic initiatives. Tom and I share a long history, and with the commonality of purpose that history generates, the business is assured of a seamless transition. This realignment occurs along an easily identifiable transition point, with CompleoTRT™ having completed its pivotal Phase III trial, the results of which meets the FDA’'s required endpoints, and Tefina™ in Phase II clinical development, potentially placing Trimel at the forefront of resolving a significant unmet need in women’'s health. With both of these products now in advanced development, I believe I have fulfilled my original mandate to our shareholders.”
In closing, Mr. Brydon went on to comment: “I have known Tom for more than 20 years. His talent and potential were first recognized when we worked together in the early stages of his career. His success in the intervening years since then, proved my original analysis correct, and I have full confidence in his ability to successfully lead Trimel into the future.”
Mr. Rossi offered the following comment: “I wish to thank Bruce and the Board of Directors for their confidence in my leadership abilities. I am focused on creating shareholder value, and expect that, together with our team, Trimel will continue to grow into a source of pride and reward for all. I am especially pleased that Bruce, as our co-founder, will remain active with Trimel, well into the future.”
About Trimel
Trimel Pharmaceuticals Corporation (TRL.TO) - Developing medications for Female Sexual Health and conditions related to Aging, and Well Being. Trimel is developing multiple product opportunities, including CompleoTRT™, a bioadhesive intranasal testosterone gel that has completed Phase III clinical efficacy testing in the United States. CompleoTRT™ is under investigation for the treatment of male hypogonadism, a condition commonly referred to as “Low T”. For more information, please visit www.trimelpharmaceuticals.com.
For further information regarding Trimel Pharmaceuticals Corporation, please contact either Bruce Brydon, Chairman of the Board at (416) 679-0711 or Kenneth Howling, Chief Financial Officer at (416) 679-0536 or via email at ir@trimelpharmaceuticals.com.
Notice regarding forward-looking statements:
This press release contains forward-looking information. This forward-looking information is not based on historical facts but rather on the expectations of the Company’'s management regarding the future growth of the Company and its respective results of operations, performance and business prospects and opportunities. Forward-looking information may include financial and other projections, as well as statements regarding future plans, objectives or economic performance, or the assumptions underlying any of the foregoing. This press release uses words such as “believe”, “expect”, “would”, “will”, “expects”, “anticipates”, “intends”, “estimates”, or similar expressions to identify forward-looking information. Such forward-looking information reflects the current beliefs of the Company’'s management based on information currently available to them.
Forward-looking information included in this press release is based in part, on factors and assumptions that may change, thus causing actual future results or anticipated events to differ materially from those expressed or implied in any forward-looking information. Such factors and assumptions include that: the Company will achieve, sustain or increase profitability, and will be able to fund its operations with existing capital, and/or it will be able to raise additional capital to fund operations; the Company will be able to attract and retain key personnel; the Company will be able to acquire any necessary technology or businesses and effectively integrate such acquisitions; the Company will be successful in developing and clinically testing products under development; the Company will be successful in obtaining all necessary approvals for commercialization of its products from the U.S. Food and Drug Administration, the Canadian Therapeutic Products Directorate or other regulatory authorities; the results of continuing and future safety and efficacy studies by industry and government agencies relating to the Company’'s products will be favourable; the Company’'s products will not be adversely impacted by competitive products and pricing; raw materials and finished products necessary for the Company’'s products will be available; the Company will be able to maintain and enforce the protection afforded by any patents or other intellectual property rights; the Company’'s products will be successfully licensed to third parties to market and distribute such products on favourable terms; the Company’'s key strategic alliances, out licensing and partnering arrangements, now and in the future, will remain in place and in force; the general regulatory environment will not change in a manner adverse to the business of the Company; the tax treatment of the Company and its subsidiaries will remain constant and the Company will not become subject to any material legal proceedings. The Company cautions that the foregoing list of assumptions is not exhaustive.
Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking information. Risks related to forward-looking statements includes those risks described in the Company’'s Annual Information Form dated March 9, 2012 under the heading “Risk Factors” and updated by the Company’'s short form prospectus dated July 11, 2012 under the headings “Forward-Looking Statements” and “Risk Factors”. Actual results, performance or achievement could differ materially from that expressed in, or implied by: any forward-looking information in this press release, and, accordingly, investors should not place undue reliance on any such forward-looking information. Further, any forward-looking information speaks only as of the date on which such statement is made and the Company undertakes no obligation to update any forward-looking information to reflect the occurrence of unanticipated events, except as required by law. New factors emerge from time to time and the importance of current factors may change from time to time and it is not possible for management of the Company to predict all of such factors, changes in such factors and to assess in advance the impact of each such factor on the business of the Company or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking information contained in this press release.
Contact:
Trimel Pharmaceuticals Corporation
Kenneth G. Howling
Chief Financial Officer
416 679 0536
www.trimelpharmaceuticals.com
