Ault Global Holdings's (DPW) Adtech Pharma Appoints Jodi Brichan to Its Board
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Ault Global Holdings, Inc. (NYSE American: DPW) a diversified holding company (the “Company”), announced that Adtech Pharma, Inc. (“Adtech”), has appointed Jodi Brichan, to its Board of Directors. Ms. Brichan was a member of the board of directors of the Company until August 13, 2021. In June of 2021, the Company entered a securities purchase agreement (the “Agreement”) with Adtech that granted the Company the right to acquire up to 40% of the current equity in Adtech, an innovative biotechnology company, for $3 million. The right to appoint Ms. Brichan was provided for in the Agreement. The investment in Adtech was made through Digital Power Lending, LLC, a wholly owned subsidiary of the Company.
Jodi Brichan is a commercialization expert with more than 25 years of experience in bringing new products to market in hypergrowth healthcare industries such as pharmaceuticals, medical devices, energy devices, and life sciences. In her prior role as a communications executive at two of the leading global communications networks, Omnicom and Publicis, Ms. Brichan managed the pharmaceutical portfolio of ophthalmology products for Alcon, a leading eyecare company specializing in glaucoma. Over the past five years, she has served on the board of directors for healthcare and technology companies. Her significant experience in clinical research, commercial product launches, and driving shareholder value makes her the ideal board member for Adtech. She holds a B.A.A. from Central Michigan University, Mount Pleasant, Michigan.
Adtech is an innovative biotech firm that has developed a novel formulation of a sole-sourced synthetic cannabinoid therapeutic targeting glaucoma known as NB-110. Adtech believes that there is a worldwide marketplace of over $4 billion in annual sales for glaucoma eye drop therapeutics. NB-110 comprises a synthetic cannabinoid Nabilone in the absence of any preservative and its formulation mimics a human tear to drive efficacious delivery through the cornea to the retina and optical nerves in the back of eye. Based on Adtech’s preclinical findings, NB-110 is targeted to lower interocular pressure and protect optical nerves for glaucoma patients. Adtech believes its formulation makes this drug unique and differentiates it from today’s marketed glaucoma medications.
Milton “Todd” Ault, III, the Company’s Executive Chairman, stated, “We are very pleased that Adtech has appointed Jodi Brichan to its board of directors. We look to see Adtech benefit greatly from Jodi’s experience, expertise, and success in nurturing products through clinical development, early commercialization, and ultimately impacting revenue creation in the biopharma and healthcare sectors. Jodi is noted for her enthusiasm and energy from her years of experience as an active member of a board directors.” Ault added, “Adtech is a wonderful company led by a great management team and is an example of how Ault Global continues to grow our platform and invest in undervalued businesses and disruptive technologies with a global impact.”
Dr. Robert Kupper, President and CEO of Adtech stated, “We are very pleased to have appointed Jodi Brichan to our board of directors. Ms. Brichan possesses a wealth of experience we anticipate will be directly beneficial to Adtech. We are excited to work with her and look to extend our partnership with Ault Global Holdings to advance Adtech’s science and technology with a goal to deliver medicines to patients in need.”
For more information on Ault Global Holdings and its subsidiaries, the Company recommends that stockholders, investors and any other interested parties read the Company’s public filings with the SEC, available at www.sec.gov, and press releases available under the Investor Relations section at www.AultGlobal.com.
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