Therma Bright Congratulates John Patton, PhD of InStatin on Receiving the Prestigious Charles G. Thiel Award

Rhea-AI Summary

Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) congratulates John Patton, Ph.D, Chairman of their strategic investment partner InStatin, on receiving the prestigious Charles G. Thiel Award for outstanding research in respiratory drug delivery. Patton, a renowned biotechnology scientist, has a track record of successful ventures including co-founding Inhale/Nektar and Halozyme. InStatin is developing a novel inhaled statin solution for treating chronic lung conditions like asthma and COPD. Therma Bright owns 17% of InStatin, with potential for increased ownership. The global asthma treatment market is projected to reach $30.1 billion by 2030. Therma Bright also holds over 60% of InVixa shares, which is developing inhaled statins for acute lung disease.

Positive

• Strategic investment partner's chairman received prestigious award in respiratory drug delivery
• InStatin developing promising inhaled statin solution for asthma and COPD treatment
• Therma Bright owns 17% of InStatin with potential for increased ownership
• Global asthma treatment market projected to reach $30.1 billion by 2030
• Therma Bright holds over 60% of InVixa shares, developing inhaled statins for acute lung disease

Negative

• None.

News Market Reaction

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On the day this news was published, TBRIF declined 5.76%, reflecting a notable negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Chairman of Therma Bright's Strategic Investment Partner Recognized for Outstanding Research and Discovery in Respiratory Drug Delivery

Toronto, Ontario--(Newsfile Corp. - September 4, 2024) - Therma Bright Inc. (TSXV: THRM) (OTCQB: TBRIF) ("Therma" or the "Company"), a developer and investment partner in cutting-edge diagnostic and medical device technologies, extends its congratulations to strategic investment partner InStatin's John Patton, Ph.D on receiving the prestigious Charles G. Thiel Award for outstanding research and discovery in respiratory drug delivery (RDD).

John Patton, Ph.D, a renowned biotechnology scientist, Chairman of InStatin and Head of the Scientific Advisory Board (SAB) for global leader Kindeva Drug Delivery (KDD), was honored at the Respiratory Drug Delivery Conference. The Charles G. Thiel Award, presented every two years by fellow scientists during the Conference, recognizes one individual for their pioneering and significant advancements in the science and technology of respiratory drug delivery.

Before InStatin, John held senior leadership roles and served on the boards of several prominent companies. He co-founded Inhale/Nektar (NKTR) in 1990, which achieved a $2.1 billion NASDAQ valuation and received global approval for the first inhaled insulin with Pfizer, which won the Wall Street Journal's Medical Innovation of the Year in 2006. He also co-founded Halozyme (HALO) in 1999 and served on its board until 2015; Today, Halozyme has a market cap of $8.08 billion. Additionally, John founded and led Dance Biopharm (now Aerami Therapeutics) from 2009 to 2018 and co-founded InCarda Therapeutics, which focuses on inhaled treatments for acute cardiac conditions. His career includes multiple successful mergers and acquisitions, as well as receiving numerous honors, publishing articles and research in over 100 publications, and securing more than 45 patents.

"We are thrilled to congratulate John on this well-deserved and prestigious award for his remarkable contributions to respiratory drug delivery (RDD) systems," said Rob Fia, CEO of Therma Bright. "John's achievements are clearly demonstrated by the advancements he and the InStatin team have made with their novel inhaled statin solution for treating and managing chronic lung conditions, such as asthma and chronic obstructive pulmonary disease (COPD). We're honored to be working with such a well-respected and recognized leader in the space, who has achieved several successful M&A exits."

InStatin's innovative statin inhalant solution has shown promising results in laboratory tests, and the Company is now moving forward with preclinical studies in preparation for Phase 1 human trials. Both InStatin and its investment partner, Therma Bright, are enthusiastic about the potential success of this groundbreaking inhalant solution for asthma treatment, which is projected to reach a global market size of USD $30.1 billion by 2030, according to BioSpace news. Therma Bright owns 17% in InStatin with the SAFE investment increasing the Company's ownership in the future at a discount to the next round of financing secured by InStatin.

Additionally, Therma Bright and InStatin are progressing forward with InVixa, which is developing inhaled statins to prevent and treat acute lung disease. As announced on September 27, 2023, Therma Bright holds over 60% of InVixa shares.

About Therma Bright Inc.
Therma Bright is a developer and partner in a wide range of leading edge, proprietary diagnostic and medical device technologies focused on providing consumers and medical professionals with quality, innovative solutions that address some of today's most important medical and healthcare challenges. Therma Bright Inc. trades on the (TSXV: THRM) (OTCQB: TBRIF) (FSE: JNX). Visit: www.thermabright.com.

Therma Bright Inc.
Rob Fia, CEO
rfia@thermabright.com
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FORWARD-LOOKING STATEMENTS
Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events such as progressing clinical trials at InStatin, and related information as described in the news release. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-Looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. Actual results could differ materially from those anticipated due to several factors and risks. Although the forward-looking statements contained in this news release are based upon what management of the Company believes are reasonable assumptions on the date of this news release, the Company cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and the Company disclaims any intention or obligation to update or revise any forward-looking statements whether because of new information, future events or otherwise, except as required under applicable securities regulations.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222080

FAQ

What award did John Patton, Chairman of InStatin, receive?

John Patton, Chairman of InStatin, received the prestigious Charles G. Thiel Award for outstanding research and discovery in respiratory drug delivery (RDD).

What is InStatin developing and for which conditions?

InStatin is developing a novel inhaled statin solution for treating and managing chronic lung conditions, such as asthma and chronic obstructive pulmonary disease (COPD).

What percentage of InStatin does Therma Bright (TBRIF) own?

Therma Bright (TBRIF) owns 17% of InStatin, with the potential for increased ownership through a SAFE investment at a discount to the next financing round.

What is the projected market size for asthma treatment by 2030?

According to BioSpace news, the global asthma treatment market is projected to reach USD $30.1 billion by 2030.

What is Therma Bright's (TBRIF) involvement with InVixa?

Therma Bright (TBRIF) holds over 60% of InVixa shares. InVixa is developing inhaled statins to prevent and treat acute lung disease.