James Datin, CEO of the bioanalytics lab BioAgilytix, and Robert Ciaruffoli, the co-founder and vice chairman of the 100-member angel investor network Broad Street Angels, are joining the board.
The company's stock was flat at C$0.20 in Toronto and climbed 0.8% to US$0.15 on OTC Markets.
Under Datin’s leadership, BioAgilytix was named to the Inc. 5000 list of Fastest Growing Private Companies in America six times and selected as the Contract Research Organization of the year in North Carolina. He oversaw the company’s expansion into Europe with the acquisition of Hamburg-based lab IPM Biotech.
Ciaruffoli, a CPA, helps lead the largest angel investor network in the Philadelphia region. Prior to that, he served as CEO and Chairman of the accounting firm Parente Beard/Baker Tilly. He transformed the firm from a Philadelphia company to a regional one. He oversaw the merger between the Parente Beard and Baker Tilly Virchow Krause firms, which created the 12th largest such firm in the US.
"It is an honor to welcome Jim Datin and Bob Ciaruffoli to the FSD Pharma Board of Directors," CEO and Co-Chairman Raza Bokhari said. "The experience and expertise they both bring as C-level entrepreneurial executives, leaders and board members of impressive organizations will add tremendous value to FSD. Both gentlemen have been instrumental in achieving outstanding growth for their respective companies, in raising capital to fuel growth opportunities and in driving sustainable shareholder value."
FSD Pharma is a producer of pharmaceutical grade cannabis with facilities in Toronto and Ontario. It operates a research and development platform focused on cannabinoid-based treatments for central nervous system disorders such as fibromyalgia and Irritable Bowel Syndrome.
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