CALGARY, Alberta, Aug. 28, 2020 (GLOBE NEWSWIRE) — XORTX Therapeutics Inc. (CSE : XRX) (OTCQB : XRTXF) (FRANKFURT : ANU1) (the “Company” or “XORTX”) a late clinical stage pharmaceutical development company focused on kidney disease, is pleased announce that Ian Klassen will join the XORTX board of directors effective immediately. The appointment of Ian Klassen coincides with the departure of Bruce Cousins.
“I am pleased to welcome Ian Klassen to the XORTX board and look forward to his meaningful contributions to the Company as we advance our late stage clinical programs,” stated Dr. Allen Davidoff, President and CEO, who added, “On behalf of the board of directors, we wish to thank Bruce Cousins for his substantial contributions to the board and audit committee.”Ian brings almost 30 years of business management, public relations and government affairs experience to the Company. He has extensive experience in the administration of public companies, finance, government policy, media relationship strategies, business/government project management and legislative decision-making. He previously served as Chief of Staff to the Canadian Speaker of the House of Commons. He is currently the President & CEO of two gold exploration companies listed on the TSX Venture Exchange and was a founding director of Canabo Medical Corp. a public company which for a period of time operated Canada’s largest group of physician-led referral-only clinics for medical cannabis. Canabo completed a business combination with Aleafia Health Inc. in March 2018. Ian has extensive experience chairing governance, audit, risk assessment and compensation committees. He holds a B.A. (Honours) from the University of Western Ontario and is a recipient of the Commemorative Medal for the 125th Anniversary of the Confederation of Canada in recognition of his significant contribution to his community and country.The Company has granted Mr. Klassen 150,000 options to purchase common shares of the Company at a price of $0.24 per share for a period of five years.About XORTX Therapeutics Inc.XORTX Therapeutics Inc. is a biopharmaceutical company with three clinically advanced products in development – XRx-008 for Autosomal Dominant Polycystic Kidney Disease (ADPKD), XRx-101 for Coronavirus / COVID-19 infection and XRx-221 is a clinical stage program for Type 2 Diabetic Nephropathy (T2DN). The Company has strong intellectual property rights and established proof of concept through independent clinical studies. XORTX is working to advance its clinical development stage products that target xanthine oxidase to inhibit production of uric acid. At XORTX Therapeutics, we are dedicated to developing medications to improve the quality of life and future of patients. Additional information on XORTX Therapeutics is available at www.xortx.com.For further information, please contact:The CSE has neither approved nor disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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