Claritas Announces Appointment of Robert Farrell, J.D. as Chairman of the Company’s Board of Directors

Ronald Erickson and Robin Hutchison to Resign from the Board

March 18, 2021 8:30 AM EDT

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SAN FRANCISCO and TORONTO, March 18, 2021 (GLOBE NEWSWIRE) -- Claritas Pharmaceuticals, Inc. (formerly Kalytera Therapeutics, Inc.) (TSX VENTURE: KLY and OTC: KALTF) (the "Company" or "Claritas") today announced that Robert Farrell, J.D., the Company’s President and CEO has been appointed Chairman of the Company’s board of directors (the “Board of Directors”), effective immediately.

The Company also announced the resignations of current independent board members Mr. Robin (“Rob”) Hutchison and Ronald Erickson, J.D., effective immediately. The resignations of Mr. Hutchison and Mr. Erickson follows the recent appointment of Professor Salvatore Cuzzocrea, Ph.D. to the Company’s Board of Directors. Prof. Cuzzocrea is an independent board member, and is an acknowledged expert in the science of nitric oxide therapy.

"I want to extend my gratitude to Rob Hutchison and Ron Erickson for their distinguished service and contributions to our Board of Directors,” stated Mr. Farrell. “Both Rob and Ron have been integral members of our Board of Directors, and we wish them all the best going forward.”

“We are assembling a world-class team of experts in the science and clinical use of nitric oxide, at management, advisory and board levels within the Company,” stated Farrell. “We recently announced the addition of Prof. Salvatore Cuzzocrea to our board of directors, and the addition of Dr. Garry Southan to our Scientific Advisory Board. Prof. Cuzzocrea and Dr. Southan are each world-renowned experts in the science of nitric oxide. Our proprietary new drug, R-107, is a liquid, nitric oxide releasing molecule that could transform nitric oxide therapy from a difficult to use inhalational therapy to a pharmaceutical that can be administered orally by capsule or by injection. R-107 is a platform technology that is designed to unleash the potential of nitric oxide as a practical out-patient therapy for many diseases and disorders. With R-107, we will position Claritas as the world’s leader in nitric oxide pharmacology.”

About Claritas PharmaceuticalsClaritas Pharmaceuticals, Inc. is a clinical stage biopharmaceutical company focused on developing and commercializing therapies for patients with significant unmet medical needs. Claritas focuses on areas of unmet medical need, and leverages its expertise to find solutions that will improve health outcomes and dramatically improve people's lives.

Cautionary StatementsNeither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This press release may contain certain forward-looking information and statements ("forward-looking information") within the meaning of applicable Canadian securities legislation, that are not based on historical fact, including without limitation in respect of its product candidate pipeline, planned clinical trials, regulatory approval prospects, intellectual property objectives, and other statements containing the words "believes", "anticipates", "plans", "intends", "will", "should", "expects", "continue", "estimate", "forecasts" and other similar expressions. Readers are cautioned to not place undue reliance on forward-looking information. Actual results and developments may differ materially from those contemplated by these statements depending on, among other things, the risk that future clinical studies may not proceed as expected or may produce unfavorable results. Claritas undertakes no obligation to comment on analyses, expectations or statements made by third parties, its securities, or financial or operating results (as applicable). Although Claritas believes that the expectations reflected in forward-looking information in this press release are reasonable, such forward-looking information has been based on expectations, factors and assumptions concerning future events which may prove to be inaccurate and are subject to numerous risks and uncertainties, certain of which are beyond Claritas’ control. The forward-looking information contained in this press release is expressly qualified by this cautionary statement and is made as of the date hereof. Claritas disclaims any intention and has no obligation or responsibility, except as required by law, to update or revise any forward-looking information, whether as a result of new information, future events or otherwise. 

Contact InformationRobert FarrellPresident, CEO(888)

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Source: Claritas Pharmaceuticals, Inc.

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