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Cara Therapeutics Inc (NASDAQ:CARA) expanded its board by recruiting Dr. Susan Shiff. Commenting on her induction into the board, CEO and President of Cara, Derek Chalmers said Susan will help company in its efforts to transform into a commercial organization.
Susan will contribute experience gained in HECOR (Health economics and outcomes research) and market access for the success of Cara’s commercialization efforts. Derek said skill set and insights gained by Susan are of immense help for the company, developing patient access, evidence-based medicine, and pricing strategies.
Susan joins at the right time
Susan is excited to join the Cara board when the company is preparing an NDA (new drug application) to the US FDA towards the end of this year. She will work with Cara teams to streamline the commercialization strategies for the development programs, which are in progress.
Cara will benefit from 20 years of experience of Susan in the pharmaceutical industry. She played a leadership role in developing and implementing evidence-based pricing strategies for products worldwide.
Aleafia Health Inc (OTCMKTS:ALEAF) adds six directors to the board
In an annual and special meeting of the investors conducted on June 30, 2020, Aleafia selected 6 directors (Lea M. Ray, Daniel Milliard, Mark Sandler, Glen Washer, Rhonda Lason, and Loreto Grimaldi) to the director board.
Aleafia reaches settlement pact with Aphria
Emblem Cannabis Corporation, an auxiliary of Aleafia, and Aphria Inc entered a pact on June 25, 2020, to settle the disputes related to wholesale agreement termination for the cannabis supply. As per the terms of the settlement, Aphria will issue common shares worth CAD 10 million and a cash payment of CAD 15.5 million to Emblem. They also agreed to dismiss previously initiated arbitration proceedings.
Geoff Benic, CEO of Aleafia, said the settlement agreement is satisfactory and acceptable to both the companies. It allows Aleafia to strengthen the balance sheet and promote growth.
Commences cultivation operations
After securing the initial cultivation license on March 13, 2020, for 70,000 Sq. Ft. at Niagara Facility, Aleafia will now commence operations on the balance of 90,000 Sq. Ft. The company complied with modification requests of Health Canada to the site plan. Benic said the latest development allows the company to use the fully automated Niagara facility and performs harvests round the year.
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