Full Press Release Details
Pharmaceuticals Appoints Seth Van Voorhees, PhD, as Chief Financial Officer and Treasurer
Pa., June 7, 2022 /PRNewswire/ -- NRx Pharmaceuticals, Inc. (Nasdaq: NRXP), a clinical-stage biopharmaceutical company, announced
today that the company's Board of Directors appointed Seth Van Voorhees, Ph.D. as Chief Financial Officer and Treasurer effective
Voorhees is a highly accomplished CFO with extensive experience in corporate finance, capital markets, investment banking and
licensing. His appointment comes at an important time for our Company, as we are focusing our resources principally on our
psychiatry franchise. His financial and scientific expertise will be instrumental in helping us to continue to grow the Company,"
said Robert Besthof, Interim Chief Executive Officer of NRx Pharmaceuticals. "We are grateful to Ira Strassberg for his important
contributions to the Company since last August, including the establishment of robust internal controls and the further build-up of
our finance and accounting function at the Company."
am pleased to join NRx Pharmaceuticals at this exciting stage, as the Company is focusing principally on the development of NRX-101,
its Breakthrough Designation Therapy for Severe Bipolar Depression in patients with Acute Suicidal Ideation and Behavior (ASIB). Its
scientific platform creates attractive opportunities to address the very high unmet need of treating bipolar depression in patients
with suicidality, as well as other psychiatric disorders. Up to 50% of individuals with bipolar disorder attempt suicide over
their lifetime, and patients with bipolar depression and suicidality have traditionally been excluded from clinical studies. The
Company is already enrolling patients in a Phase II trial studying patients with bipolar depression and sub-acute suicidality (not
requiring hospitalization) and plans to initiate a Phase IIb/III registrational trial in patients with bipolar depression and ASIB
(requiring hospitalization) later this year," said Dr. Van Voorhees.
Van Voorhees most recently served as CFO of PDS Biotechnology during which he completed several financing transactions in 2021.
Prior to joining PDS Biotechnology, he spent 10 years as the CFO for Research Frontiers and for American Pacific. Earlier in
his career, Dr. Van Voorhees worked in investment banking supporting chemical/pharmaceutical clients at Merrill Lynch, UBS
Warburg, and Wasserstein Perella. He received a Ph.D. in chemistry from the University of Pennsylvania and an MBA
from Columbia University.
Pharmaceuticals, Inc. ("NRx Pharmaceuticals" or the "Company") draws upon decades of collective, scientific, and drug-development experience
to address very high unmet needs of patients and bring improved health to patients. The U.S. Food and Drug Administration ("FDA") has
additionally granted Breakthrough Therapy designation, a Special Protocol Agreement, and a Biomarker Letter of Support for NRX-101, an
investigational medicine for the treatment of severe bipolar depression in patients with acute suicidal ideation and behavior (ASIB)
after initial stabilization with ketamine or other effective therapy. NRx Pharmaceuticals is led by executives who have held leadership
roles at Lilly, Pfizer, and Novartis as well as major investment banking institutions.
Note Regarding Forward-Looking Statements
announcement of NRx Pharmaceuticals, Inc. includes "forward-looking statements" within the meaning of the "safe harbor" provisions of
the U.S. Private Securities Litigation Reform Act of 1995, which may include, but are not limited to, statements regarding our financial
outlook, product development, business prospects, and market and industry trends and conditions, as well as the Company's strategies,
plans, objectives, and goals. These forward-looking statements are based on current beliefs, expectations, estimates, forecasts, and
projections of, as well as assumptions made by, and information currently available to, the Company's management.
Company assumes no obligation to revise any forward-looking statement, whether as a result of new information, future events or otherwise.
Accordingly, you should not place reliance on any forward-looking statement, and all forward-looking statements are herein qualified
by reference to the cautionary statements set forth above.
Director, Global Communications