On March 30, Cardiol Therapeutics Inc. (TSX: CRDL | OTCQX: CRTPF | FSE: CT9) announced the appointment of Dr Andrew Hamer as Cardiol’s new Chief Medical Officer. He will lead the research and development (R&D) of Cardiol’s clinical-stage products, along with overseeing the development of its novel therapeutic offerings.
What does Cardiol Therapeutics do?
Cardiol Therapeutics is a Canadian pharmaceutical company focused on producing medical cannabidiol (CBD) products along with a variety of therapies for heart diseases, including acute myocarditis and other causes of heart failure. Its lead product is CardiolRx™, which has FDA approval for a Phase II/III trial to test efficacy in improving outcomes for COVID-19 patients with a prior history of, or risk factors for, cardiovascular disease (CVD). CardiolRx™ is a pharmaceutically produced CBD formulation.
Furthermore, Cardiol Therapeutics is developing a subcutaneous formulation of CardiolRx™ to deliver pharmaceutical CBD directly to inflamed areas of the heart commonly associated with heart failure.
Who is Dr Hamer?
With 30-years’ experience under his belt, Dr Hamer is well equipped to head up the R&D team. He’s worked in the global life sciences industry, medical affairs, and cardiology practice. This wide-ranging experience will serve him well in designing, implementing, and reporting the results of Cardiol’s exciting clinical programs.
Prior to arriving at Cardiol, Dr Hamer was employed as Executive Director, Global Development-Cardiometabolic at Amgen (NASDAQ:AMGN), a $146 billion biotech firm. In this role, which he held for five years, he led the Global Development group in developing Repatha®. This is an injectable prescription medicine used to treat high cholesterol levels. Repatha® generated revenues of almost $900 million last year.
Before Amgen, Dr Hamer worked at Capricor Therapeutics (NASDAQ:CAPR) for two years as VP of Medical Affairs. Here he handled the development of novel therapeutics, for heart disease and for the supervision of the clinical operations of the company, including clinical trial design and execution.
Formerly, he spent 19 years practicing cardiology and internal medicine in New Zealand. During this time he became Chief Cardiologist at Nelson Hospital, while simultaneously leading cardiac services nationally across New Zealand.
He has worked all over the world and co-authored many high-quality peer-reviewed scientific publications that reflect his wide-ranging experience as a clinical trialist.
Dr Hamer replaces Cardiol’s co-founder, Dr Eldon Smith, who is choosing to retire. However, Dr Smith will stay on as Chair of the Board of Directors and advisor to the Company.
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Thrilled to be onboard
Dr Hamer is thrilled to be joining the Cardiol Therapeutics team:
“I am excited to be joining Cardiol Therapeutics and look forward to working with the outstanding leadership team in progressing the clinical development of the Company’s promising therapies. There are millions of patients worldwide suffering from heart disease, where inflammation is a critical underlying component, and they depend on the efforts of companies like Cardiol to develop new treatment options that are safe and effective. I am pleased to have the opportunity to play a leadership role in this important endeavour.”
Cardiol is equally happy to welcome him onboard. David Elsley, President and CEO of Cardiol Therapeutics comments:
“We are extremely pleased to have Andrew join our leadership team as we continue to advance our clinical development programs and promising basic research initiatives designed to explore additional therapeutic strategies to address inflammatory heart disease.”
Cardiol Therapeutics financials
In the past year, Cardiol Therapeutics has returned a compound annual growth rate (CAGR) of 50%. This equates to the return that investors that bought in a year ago have enjoyed.
The company has a market cap of CA$167 million. Its current share price is CA$4.51, which is 15% below its 52-week high and 127% above its 52-week low.
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