REG - Ondine Biomedical - Ondine announces Board Changes

Ondine BiomedicalAnnouncement

16/09/2024 07:00

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RNS Number : 2268E  Ondine Biomedical Inc.  16 September 2024

16 September 2024

ONDINE BIOMEDICAL INC.

("Ondine Biomedical", "Ondine", or the "Company")

Ondine announces Board changes

 

Ondine Biomedical Inc. (LON: OBI), a leading Canadian life sciences company
specializing in light-activated antimicrobial technologies, announces changes
to its Board of Directors with the reappointment of Margaret Shaw and the
resignation of Mr. Craig Tooman. Mr. Tooman steps down from the Board and as
Audit Committee Chair having served a commendable three-year term to focus on
his increasing duties as CEO of NASDAQ listed Silence Therapeutics Inc. Ms.
Shaw, a seasoned finance professional with extensive experience in investment
management and capital markets, will Chair the Audit & Risk Oversight
Committee and join the Nominating & Governance Committee.

 

Margaret Shaw's reappointment comes at a pivotal time as Ondine continues to
advance its pioneering photodisinfection technologies to address the global
challenge of healthcare-associated infections and antimicrobial resistance.
With a career spanning several decades, Ms. Shaw has held key leadership
positions in some of Canada's largest financial institutions, including AGF
Funds Inc. and CIBC (Canadian Imperial Bank of Commerce), where she managed
portfolios exceeding $700 million. Her deep knowledge of finance, combined
with her strategic vision, will provide a wealth of expertise that will be
instrumental in guiding the company through its next phase of growth.

 

Carolyn Cross, CEO of Ondine Biomedical, commented:

"We are thrilled to welcome Margaret back to our Board. Her extensive
background in finance, coupled with her strategic acumen, makes her an
invaluable addition as we continue to drive innovation in the fight against
healthcare-associated infections and antimicrobial resistance. Margaret's
previous tenure on our Board and her longstanding support for Ondine's mission
underscore her commitment to our vision of improving global health outcomes.

 

We are grateful for Mr. Tooman's contributions and his unwavering support of
the company over these past few years and wish him continued success at
Silence Therapeutics. Mr. Tooman's expertise and dedication have been
invaluable during this crucial period of growth and development, and we extend
our sincere appreciation for his efforts and commitment to the success of our
organization."

 

Margaret Shaw's appointment strengthens Ondine's Board in several key areas:

·    Financial Expertise: As a former Chartered Financial Analyst (CFA)
and former institutional portfolio manager, Ms. Shaw brings critical financial
management skills to the Board, enhancing its ability to navigate current and
future financing challenges.

·    Diversity and Inclusion: Ms. Shaw's reappointment contributes to
Ondine's goals of achieving gender diversity on its Board, enabling the
company to meet its target of a minimum of 33% female representation.

·    Strategic Insight: With a proven track record in strategic planning
and risk management, Ms. Shaw will play a pivotal role in shaping the
company's direction as it progresses through the FDA approval process and
continues to expand its market presence.

 

Margaret Shaw previously served on Ondine's Board of Directors from April 2009
to September 2011, during which time she contributed to the company's growth
and strategic initiatives. Her return to the Board reflects her deep
commitment to Ondine's mission and her confidence in the company's future.

 

Margaret Shaw added:

"I am honored to rejoin Ondine's Board of Directors at this exciting time in
the company's trajectory. The company's dedication to addressing some of the
most pressing challenges in healthcare resonates deeply with me, and I look
forward to working alongside the Board and management team to help drive
Ondine's success."

 

Regulatory Disclosures

 

Save for the information set out below, there are no further disclosures to be
made in accordance with Rule 17, Schedule Two (g) of the AIM Rules for
Companies in respect of the appointment of Ms. Margaret Shaw, aged 71.

 

 Current Directorships  Past Directorships (previous 5 years)
 None                   Courthill Foundation

 

 

Enquiries:

 Ondine Biomedical Inc.
 Carolyn Cross, CEO                                         +001 604 669 0555

 Singer Capital Markets (Nominated Adviser, Joint Broker)
 Phil Davies, Sam Butcher                                   +44 (0)20 7496 3000

 RBC Capital Markets (Joint Broker)
 Rupert Walford, Kathryn Deegan                             +44 (0)20 7653 4000

 Vane Percy & Roberts (Media Contact)                      +44 (0)77 1000 5910
 Simon Vane Percy, Amanda Bernard

 

 

About Ondine Biomedical Inc.

Ondine Biomedical Inc. is a Canadian life sciences company and leader
innovating light-activated antimicrobial therapies (also known as
'photodisinfection'). Ondine has a pipeline of investigational products, based
on its proprietary photodisinfection technology, in various stages of
development.

 

Ondine's nasal photodisinfection system has a CE mark in Europe and the UK and
is approved in Canada and several other countries under the name
Steriwave(®). In the US, it has been granted Qualified Infectious Disease
Product designation and Fast Track status by the FDA and is currently
undergoing clinical trials for regulatory approval. Products beyond nasal
photodisinfection include therapies for a variety of medical indications such
as chronic sinusitis, ventilator-associated pneumonia, burns, and many other
indications.

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