VANCOUVER, BC, Oct. 6, 2021 /PRNewswire/ - Clairvoyant Therapeutics ("Clairvoyant"), a Canadian biotech company focused on the development of psychedelic drug therapies for addiction, is pleased to announce Greg Engel has joined the company's Board of Directors and Long Trinh has joined as Chief Financial Officer (CFO).
Mr. Engel has more than 25 years of global leadership experience in the pharmaceutical, biotechnology and cannabis industries. He is also the former CEO of cannabis producers Tilray (NASDAQ: TLRY) and Organigram Inc. (NASDAQ: OGI) and past Canadian General Manager of both Forest Laboratories (now part of AbbVie,NYSE: ABBV) and Encysive (now part of Pfizer,NYSE: PFE).
Mr. Trinh has significant international finance and operations experience across multiple industries, serving in roles such as Chairman and General Manager. Most recently, Mr. Trinh successfully led Decibel Cannabis Company (DB.V) through the process of becoming a publicly-traded company via a reverse takeover (RTO).
"We are delighted to welcome Greg and Long to the Clairvoyant team," said Damian Kettlewell, CEO, Co-Founder and Director, Clairvoyant. "We look forward to drawing on Greg's tremendous experience and leadership in some of Canada's most dynamic industries as we work to develop evidence-based psychedelic therapies to help patients live healthier and enriched lives. Long is savvy in international finance and operations and, like Greg, has a track record of success which will greatly assist Clairvoyant."
Clairvoyant's lead program is a Phase 2 trial focused on clinical validation of psilocybin for treatment of alcohol use disorder (AUD) (formerly called alcoholism). In their new roles, Mr. Engel and Mr. Trinh will work closely with the Clairvoyant team to support the development of compelling clinical research data that demonstrates the potentially transformative nature of psilocybin drug therapy while maintaining financial rigour and delivering shareholder value.
"I am excited to take on this new challenge with a talented and passionate team," said Mr. Engel. "I looked closely at a number of companies evaluating classic psychedelics and developing potentially new psychedelics and was impressed with Clairvoyant's management team as well as its clinical development approach for AUD. I share their commitment to leveraging exceptional science to help patients suffering with substance use disorders and significant mental health conditions."
"I am honored to be a part of this dynamic team on its quest to operate a short path psilocybin therapy clinical trial in Canada and the EU," said Mr. Trinh. "My 15 years of financial experience running billion-dollar global public companies will ensure Clairvoyant has strong fiscal discipline and its shareholders' interests are met. As CFO, I will ensure the integrity of the financial data and use this to help drive corporate strategy, managing both the capital and financial risks of the company."
Clairvoyant has successfully completed its pre-Clinical Trial Application meeting with Health Canada's Office of Clinical Trials.
Psilocybin – the active ingredient of "magic mushrooms" – induces powerful psychedelic experiences that have been studied since the 1950s for their therapeutic value in the treatment of addiction and mental health conditions. Psychological support is an essential component of clinical testing. Specifically, trained therapists can improve outcomes by stabilizing and enhancing neurological plasticity associated with psychedelic experience.
Clairvoyant uses synthetic psilocybin. The company's first trial is in the area of alcohol use disorder. The clinical investigation will be expanded to other indications as evidence accumulates. Early studies conducted in leading academic centres have shown signals that psilocybin could be a safe and effective medicine for patients with alcohol use disorder, smoking addiction, opioid addiction, depression, anxiety and other mental illnesses when administered with psychological support from specially trained therapists.
Clairvoyant Therapeutics is a Canadian drug development company at the forefront of a growing psychedelic therapy industry. Our team has a successful track record of designing and operating clinical trials and bringing new drugs to market. We operate under the principles of open science. Clairvoyant is a pending B Corporation to ensure that we meet the highest standards of verified social and environmental performance, public transparency and legal accountability to balance profit and purpose. Clairvoyant is a Life Science BC member an industry association that represents the scientific community of BC at the local, national and international level.
SOURCE Clairvoyant Therapeutics