Tharimmune Appoints Clay Kahler and Gary Stetz to its Board of Directors

Rhea-AI Summary

Tharimmune (NASDAQ:THAR), a clinical-stage biopharmaceutical company, has appointed Clay Kahler and Gary Stetz to its Board of Directors, expanding it to nine members. This change comes as two current directors, Leonard Mazur and Lynne Bui, will not seek re-election at the June 2025 Annual Meeting.

Kahler, an entrepreneur in life sciences, is CEO of Spray Labs and Gateway Sciences. He co-founded Helius Medical Technologies, helping it reach a $500M market cap. Stetz brings 35+ years of financial expertise as Managing Partner of Stetz, Belgiovine, Manwarren and Wallis, serving over 1,000 corporate clients.

The new directors will serve on key committees: Kahler will chair compensation and serve on audit and nominating committees, while Stetz will chair nominating and corporate governance and serve on compensation and audit committees. After the June meeting, the board will reduce to seven directors.

Positive

• Addition of two experienced directors strengthens board expertise in finance, operations and life sciences
• Clay Kahler brings successful track record in biotech ventures, including leading Helius Medical to $500M market cap
• Gary Stetz adds 35+ years of financial and governance expertise with 1000+ corporate client experience
• Board restructuring reduces size from 9 to 7 directors, potentially improving efficiency

Negative

• Two current directors (Leonard Mazur and Lynne Bui) not seeking re-election
• No updates provided on current clinical programs or pipeline progress
• Company appears to be in early clinical stage with no marketed products mentioned

BRIDGEWATER, NJ / ACCESS Newswire / April 30, 2025 / Tharimmune, Inc., (NASDAQ:THAR) ("Tharimmune" or the "Company") a clinical-stage biopharmaceutical company focused on developing innovative therapeutics in inflammation & immunology, today announced the appointment of Clay Kahler and Gary Stetz to its Board of Directors, increasing the Tharimmune Board to nine Directors. As reported in a Form 8-K filed on April 25, 2025, Directors Leonard Mazur and Lynne Bui, M.D. have notified the Board that they will not seek re-election at the Company's 2025 Annual Meeting of Stockholders on June 10, at which time the size of the Board will decline to seven Directors.

Messrs. Kahler and Stetz bring deep leadership, operational, financial and strategic expertise to the Board as Tharimmune advances key clinical programs, executes on growth initiatives and strengthens corporate governance. Mr. Kahler will serve on the audit and nominating and corporate governance committees and chair the compensation committee and Mr. Stetz will serve on the compensation and audit committees and chair the nominating and corporate governance committee.

"On behalf of the Board, we are pleased to welcome Clay and Gary to the Tharimmune Board as we continue to execute on our growth strategy," said Randy Milby, Chairman of the Board of Tharimmune. "Clay's entrepreneurial leadership and deep operational expertise in life sciences manufacturing and clinical innovation, combined with Gary's extensive financial acumen and governance experience will bring valuable insight to our Board. We look forward to their contributions as we advance our product pipeline and build shareholder value."

Clay Kahler is a seasoned entrepreneur with decades of leadership experience in life sciences, biotechnology, and technology ventures. He is the Co-founder, CEO, and Managing Director of Spray Labs, LLC, an FDA-registered, cGMP-certified manufacturer specializing in oral spray drug delivery technologies. He is also the Founder and CEO of Gateway Sciences LLC, a company focused on regenerative medicine and mental health. Mr. Kahler co-founded Helius Medical Technologies, Inc., where he played a pivotal role in structuring early corporate financing, facilitating the company's public listing, and establishing strategic partnerships including worked with the team to secure a multi-million dollar Cooperative Research and Development Agreement (CRADA) with the U.S. Department of Defense, through the U.S. Army Medical Research and Materiel Command (USAMRMC). These efforts helped propel the company to a peak market capitalization of approximately $500 million. He has also held multiple corporate advisory positions including UK-based Velocity Mobile Limited, doing business as Velocity Black, which was successfully acquired by Capital One Financial Corporation in June 2023 for approximately $300 million.

Gary Stetz is a seasoned financial executive with over 35 years of experience across accounting, finance, business valuation and corporate governance. Mr. Stetz currently serves as Managing Partner of Stetz, Belgiovine, Manwarren and Wallis P.C., an accounting, auditing, tax compliance and advisory services firm with more than 1,000 corporate clients. His extensive leadership experience includes founding Allegiance Community Bank and serving on the Board of BCB Bancorp. He is co-author of the book Project Management Accounting. Mr. Stetz's extensive expertise in financial forensics, valuation, and regulatory compliance will provide valuable oversight as Tharimmune continues to build a strong financial and operational foundation.

"I am honored to join the Tharimmune Board and contribute my experience in public company leadership, clinical development and strategic growth initiatives," said Mr. Kahler. "Tharimmune's novel approach to treating immune-mediated diseases is compelling and holds great clinical promise, and I look forward to supporting the Company's future success."

"I am excited to work alongside the talented team at Tharimmune and leveraging my financial, advisory and governance experience to guide the Company during this important phase of growth," added Mr. Stetz. "I look forward to supporting executive management to achieve Tharimmune's strategic and operational goals."

The appointments of Mr. Stetz and Mr. Kahler underscore Tharimmune's commitment to assembling a diverse and accomplished Board, equipped to guide the Company through its next phases of clinical progress, regulatory engagement, and strategic growth.

About Tharimmune, Inc.

Tharimmune is a clinical-stage biotechnology company developing a diverse portfolio of therapeutic candidates in immunology, inflammation and oncology. Its lead clinical asset, TH104, is being developed for a specific indication via a 505(b)2 pathway for respiratory and/or nervous system depression in military personnel and chemical incident responders who may encounter environments contaminated with high-potency opioids. The expanded pipeline includes other indications for TH104, such as chronic pruritus in primary biliary cholangitis and TH023, a new approach to treating autoimmune diseases along with an early-stage multispecific biologic platform targeting unique epitopes against multiple solid tumors through its proprietary EpiClick^™ Technology. The Company has a license agreement with OmniAb, Inc. to access their antibody discovery technology for targeting specified disease markers. Tharimmune continues to position itself as a leader in patient-centered innovation while working to deliver long-term value for shareholders. For more information, visit: www.tharimmune.com.

Forward Looking Statements

Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, contained in this press release, including statements regarding the timing and design of Tharimmune's future Phase 2 trial, Tharimmune's strategy, future operations, future financial position, projected costs, prospects, plans and objectives of management, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "depends," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "target," "should," "will," "would," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. The Company may not actually achieve the plans, intentions, or expectations disclosed in these forward-looking statements, and you should not place undue reliance on these forward-looking statements. Actual results or events could differ materially from the plans, intentions and expectations disclosed in these forward-looking statements. Factors that may cause such differences, include, but are not limited to, those discussed under Risk Factors set forth in our Annual Report on Form 10-K for the year ended December 31, 2024 and other periodic reports filed by the Company from time to time with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company's views as of the date of this release. Subsequent events and developments may cause the Company's views to change; however, the Company does not undertake and specifically disclaims any obligation to update or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law. These forward-looking statements should not be relied upon as representing the Company's views as of any date subsequent to the date of this release.

Contacts:
Tharimmune, Inc.
ir@tharimmune.com

Alliance Advisors IR
Tirth T. Patel
tpatel@allianceadvisors.com
212-201-6614

SOURCE: Tharimmune Inc.

View the original press release on ACCESS Newswire

FAQ

Who are the new board members appointed to Tharimmune (THAR) in April 2025?

Clay Kahler and Gary Stetz were appointed to Tharimmune's Board of Directors, expanding it to nine members. Kahler brings expertise in life sciences manufacturing and clinical innovation, while Stetz brings financial and governance experience.

What experience does Clay Kahler bring to Tharimmune's (THAR) board?

Clay Kahler is the CEO of Spray Labs and Gateway Sciences, with extensive experience in life sciences and biotechnology. He co-founded Helius Medical Technologies and helped grow it to a $500 million market cap through strategic partnerships and public listing.

What committees will Gary Stetz oversee at Tharimmune (THAR)?

Gary Stetz will serve on the compensation and audit committees, and chair the nominating and corporate governance committee at Tharimmune.

How will Tharimmune's (THAR) board size change after the 2025 Annual Meeting?

After the 2025 Annual Meeting on June 10, Tharimmune's board size will decrease from nine to seven directors, as Leonard Mazur and Lynne Bui will not seek re-election.

What is Gary Stetz's professional background before joining Tharimmune (THAR)?

Gary Stetz has over 35 years of financial experience and serves as Managing Partner of Stetz, Belgiovine, Manwarren and Wallis P.C. He founded Allegiance Community Bank, served on BCB Bancorp's board, and co-authored Project Management Accounting.