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Classified in: Health
Subject: PER

VALEO PHARMA ANNOUNCES SENIOR EXECUTIVE APPOINTMENT AND BOARD OF DIRECTORS CHANGE


MONTREAL, June 18, 2024 /CNW/ - Valeo Pharma Inc. (TSX: VPH) (OTCQB: VPHIF) (FSE: VP2) ("Valeo" or the "Company"), a Canadian pharmaceutical company, today announced that Mr. Al Moghaddam has been appointed to the newly created role of Chief Development Officer ("CDO") and consequently he is stepping down from the Company's Board of Directors.

As Valeo's new CDO, Mr. Moghaddam will lead the design and implementation of strategies to identify and negotiate with financial parties with a view to strengthening the Company's capital structure in order to finance the future growth and development of the Company. He will work directly with the senior management team to plan, review, and revise the company's development programs. Mr. Moghaddam will also support the development and growth of the business through building relationships in the industry, identifying both product and M&A opportunities.

"In the short period of time Mr. Moghaddam spent on the Valeo Board of Directors, he played an active role in our recently announced restructuring of our respiratory business unit", said Steve Saviuk, CEO. "Al has a solid track record of delivering results and creating value, we look forward to his expertise as our Chief Development Officer''.

Commenting on his appointment as Valeo's new CDO, Mr. Moghaddam said; ''I am very excited to be joining Valeo at such a transformative time in its corporate development. I look forward to working together with the rest of the leadership team, to ensure Valeo has a strong capital structure from which it can successfully pursue its ambitious growth prospects and continue adding to its leading product portfolio of innovative drugs''.  

More about Al Moghaddam

Mr. Moghaddam is a customer centric transformational life sciences leader with over 25 years of global experience. His work experience spans from large multinationals through to early-stage companies and he has held leadership positions within pharma, medical device, med-tech, and consumer markets. He is a strong visionary, process driven leader, able to craft a vision and motivate teams to achieve superior results and recognized by such companies as Allergan, Bristol Myers Squibb, Teva & Pharmascience for outstanding performance in creating value.

Al has cross functional experience in product life cycle management, sales, BD&L, market access, marketing, finance & M&A.

About Valeo Pharma Inc.

Valeo Pharma is a Canadian pharmaceutical company dedicated to the commercialization of innovative prescription products in Canada with a focus on Respiratory/Allergy, Ophthalmology and Hospital Specialty Products. Headquartered in Kirkland, Quebec Valeo Pharma has all the required capabilities and the full infrastructure to register and properly manage its growing product portfolio through all stages of commercialization. For more information, please visit www.valeopharma.com and follow us on LinkedIn and Twitter.

Forward Looking Statements

Forward-looking statements are statements and information regarding possible events, conditions or results of operations that are based upon assumptions about future economic conditions and courses of action. All statements and information other than statements of historical fact may be forward-looking statements. In some cases, forward-looking statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget", "plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may", "could", "would", "might", "will" and similar words or phrases (including negative variations) suggesting future outcomes or statements regarding an outlook.                     

Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by such forward-looking information, including but not limited to: reliance on third-party suppliers and manufacturers, the availability of additional funding, common risks for pharmaceutical products, including product liability claims, insurance and recalls, registration risks in certain jurisdictions, the inability to implement Valeo's strategy to grow the business, dependence on key management personnel and executives, competition, currency fluctuations and the risks, uncertainties and other factors contained in the section entitled "Risk Factors" in Valeo's annual information form dated January 29, 2024, a copy of which is available on Valeo's Sedar+ profile at www.sedarplus.ca.

Actual events or results may differ materially from those anticipated in these forward-looking statements if known or unknown risks affect Valeo's business, or if Valeo's estimates or assumptions turn out to be inaccurate. Valeo undertakes no obligation to update publicly, or otherwise revise, any forward-looking statements, whether as a result of new information or future events or otherwise, except as may be required by law. If Valeo does update one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements, unless required by law.

SOURCE Valeo Pharma Inc.


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