8일 미국 증권거래위원회에 따르면 Virpax Pharmaceuticals, Inc. (NASDAQ: VRPX), a company specializing in developing non-addictive products for pain management, post-traumatic stress disorder, central nervous system (CNS) disorders, and anti-viral barrier indications, today announced the completion of a $2,500,000 secured loan financing with an institutional investor. This loan enabled the final payment of the company's litigation settlement. Additionally, the company's Board of Directors has been reorganized and reduced from eight members to seven, with four new board members appointed by the investor, and five board members resigning.

CEO Gerald Bruce expressed optimism that the loan and an agreement to negotiate additional funding will enable the company to advance its mission to develop non-addictive pain medications and other CNS products that address high unmet medical needs. Bruce referenced a recent BIO meeting in San Diego, where the company received strong interest in its portfolio, as a confidence booster for future program funding.
The new board members include Judy Su, Gary Herman, Jatinder Dhaliwal, and Katharyn Field, while outgoing members are Jeffrey Gudin, Thani Jambulingam, Michael Dubin, Jerrold Sendrow, and Barbara Ruskin. Bruce extended gratitude to the departing members for their support and contributions.

Judy Su brings extensive experience as a lead pharmacist at a national drug store and current work in the public pharmaceutical sector. Gary Herman is an experienced investor with a background in managing investment funds and serving as an investment banker and director of multiple public companies. Jatinder Dhaliwal is a registered pharmacist and executive with experience in managing and directing publicly traded companies in the pharmaceutical and cannabis sectors. Katharyn Field has a background in strategy consulting and executive leadership in both the public and private sectors, including positions at the White House and Bain & Company, as well as significant experience in the cannabis industry.

Virpax is focused on developing branded, non-addictive pain management products using proprietary technologies for drug delivery. The company is working towards FDA approval for two prescription drug candidates and is also developing products for pediatric epilepsy, viral replication inhibition, and osteoarthritis pain management. Virpax has cooperative research agreements with the National Institutes of Health (NIH) and the Department of Defense (DOD) for some of its drug candidates.
Contact information for investor relations and media inquiries is provided in the release.

Forward-looking statements in the release highlight the company's plans and projected timelines, while cautioning investors about relevant risks and uncertainties.

#loan financing #board reorganization #Gerald Bruce #non-addictive pain management #Judy Su #Gary Herman #Jatinder Dhaliwal #Katharyn Field #FDA approval #National Institutes of Health #Department of Defense
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