MORRISVILLE, N.C.--(BUSINESS WIRE)--Tenax Therapeutics, Inc. (NASDAQ: TENX), a specialty pharmaceutical company focused on identifying, developing and commercializing products for the critical care market, today announced that James Mitchum has been nominated to be elected to the Company’s Board of Directors at the annual meeting of stockholders scheduled for September 15, 2015.
Mr. Mitchum is an experienced, highly-regarded pharmaceutical executive and has served as the chief executive officer of Heart to Heart International, a non-profit humanitarian organization, since September 2014. From 2009 to July 2012, Mr. Mitchum served as president of the Americas for EUSA Pharma (USA), Inc., where he oversaw the streamlining of that business as well as the development, FDA approval and successful launch of a pediatric oncology drug in 2011. Previously, he served as president and chief executive officer of Enturia, Inc., a privately owned drug-device company based in Kansas City. From 2003 to 2005, Mr. Mitchum served as the president and chief executive officer of Sanofi-Aventis Group Japan, and he was chief executive for Aventis Pharma UK from 2000 through 2002. He has also worked in a variety of other senior financial roles. Mr. Mitchum currently serves as a director for NephroGenex Inc., a company developing drugs to treat kidney disease, and has also served as a director on numerous private company and organization boards. He holds an M.B.A. from the University of Tennessee and a B.S. in Business and Math from Milligan College.
“We believe that the election of James Mitchum to our Board of Directors will be a significant and very positive addition for the Company,” said John Kelley, chief executive officer of Tenax. “His experience leading companies in the life sciences industry, as well as his financial and operational expertise, will be a great resource for us as we continue to execute on our late-stage development programs for levosimendan.”
Mr. Mitchum was nominated by the Company’s Nominating Committee to fill the vacancy created by current board director William Chatfield’s decision not to stand for re-election when his term expires at this year’s annual meeting of stockholders. The Company’s Nominating Committee has endorsed Mr. Mitchum’s candidacy in a proxy statement, which can be found on the Company’s website (www.tenaxthera.com) in the Investors section under “SEC Filings.”
About Tenax Therapeutics
Tenax Therapeutics, Inc., is a specialty pharmaceutical company focused on identifying, developing and commercializing products for the critical care market. The Company owns the North American rights to develop and commercialize levosimendan, and the United States Food and Drug Administration (FDA) has granted Fast Track status for levosimendan for the reduction of morbidity and mortality in cardiac surgery patients at risk for developing Low Cardiac Output Syndrome (LCOS). The Company is currently enrolling a Phase 3 trial with levosimendan in that indication, and is also supporting Imperial College London’s ongoing LeoPARDS trial for levosimendan in septic shock. For more information, visit www.tenaxthera.com.
Caution Regarding Forward-Looking Statements
This news release contains certain forward-looking statements by the company that involve risks and uncertainties and reflect the company’s judgment as of the date of this release. The forward-looking statements are subject to a number of risks and uncertainties, including, but not limited to matters beyond the company's control that could lead to delays in the clinical study, delays in new product introductions and customer acceptance of these new products, and other risks and uncertainties as described in the company’s filings with the Securities and Exchange Commission, including in its quarterly report on Form 10-Q filed on March 17, 2105 and annual report on Form 10-K filed on July 14, 2015, as well as its other filings with the SEC. The company disclaims any intent or obligation to update these forward-looking statements beyond the date of this release. Statements in this press release regarding management’s future expectations, beliefs, goals, plans or prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.