Cardiol has been on a roll this year.
Their closes early-stage comparable was acquired for US$7.2 billion.
Warrant holders from their previous financing successfully exercised their warrants, leaving investors, and Cardiol, injected with cash.
Recent event surrounding COVID-19 vaccines have confirmed Cardiol’s concerns for myocarditis within COVID-19 patients, further proving there is value in their CardiolRX product, which is currently undergoing phase 2/3 clinical trials.
To top it all off, the U.S. cannabis market is showing strong signs of bullishness for this year. Jefferies LLC even referred to pot stocks as a “generational wealth opportunity.”
We will remind you that although Cardiol is not simply a cannabis company, the bullishness for the sector has been well-known to spread to even biotech stocks that are using formulas derived from cannabidiol.
Today we have a special update to share with you regarding the company.
Cardiol Therapeutics Inc. (TSX: CRDL) (OTCQX: CRTPF) (FSE: CT9) has, on behalf of the board of directors, appointed former independent director Dr. Guillermo Torre-Amione as the new Chairman of the company.
This follows the retirement of Cardiol co-founder and former Chief Medical Officer (CMO) Eldon Smith.
Dr. Torre-Amione has extensive experience in all things heart-related.
A few of his past and current positions include:
- Professor of Cardiology at The Methodist Hospital Research Institute in Houston, Texas
- Professor of Medicine at the Weill Cornell Medical College of Cornell University, New York
- President of TecSalud, an academic medical center and medical school of the Instituto Tecnológico y de Estudios Superiores de Monterrey (ITESM) in Mexico.
- Former chief of the Heart Failure Division at the Houston Methodist DeBakey Heart & Vascular Center
- Former medical director of Cardiac Transplantation at the Houston Methodist DeBakey Heart & Vascular Center.
- Board certified in cardiovascular disease and Advanced Heart Failure/Transplant Cardiology
“I am pleased that Dr. Torre-Amione has agreed to serve as Chairman of our Board. Dr. Torre-Amione’s exceptional knowledge of and expertise provide invaluable leadership and guidance during an exciting period of growth for Cardiol” said David Elsley, President & CEO of Cardiol Therapeutics. Mr. Elsley continued, “On behalf of Cardiol and the Board of Directors, I would like to take this opportunity to thank Dr. Eldon Smith for his invaluable contributions to the Company as Chairman and wish him a healthy and happy well-earned retirement.”
Hailing from Mexico, Dr. Torre-Amione received his medical degree for the ITESM before moving to Chicago. In the windy city, his graduate studies in immunology led to a doctorate in scientific and clinical research of heart failure. This includes the design and execution of pivotal clinical trials.
Over 170 manuscripts in peer-reviewed journals have been published by Dr. Torre-Amione. He spends his time both at the Methodist Hospital in Houston with clinical and academic activities, and at ITESM in Monterrey, Mexico.
The Gene and Judy Campbell Laboratory for Cardiac Transplant Research is headed by Dr. Torre-Amione, who primarily researches heart failure, cardiac transplant, and the role of the immune system response in modulating the progression of heart failure. The series of clinical studies that were initiated by Dr. Torre-Amione successfully led to Phase II clinical trials that were FDA-approved. These trials involved the neurostimulation of heart failure, which is a novel approach to treating patients with advanced stages of heart failure.
A few other clinical investigations of Dr. Torre-Amione’s that proved significant were:
- A study involving cardiac transplant patients who experience cardiac hypertrophy, a common symptom following transplantation,
- A protocol for autologous stem cell transfer in patients experiencing advanced treatment-resistant heart failure, and
- A novel study involving plasma exchange in advanced heart failure patients.
Did you know? Autologous stem cell transfer refers to stem cells being sourced from the same individual who is to be receiving them.
“I am honored to be appointed Chairman of Cardiol and to be given the opportunity to play an important role in the development of this extraordinary company. There is convincing evidence that inflammation plays an important role in the pathogenesis of heart failure and other cardiovascular disorders. Cardiol’s therapeutic strategy raises the exciting possibility of delivering an anti-inflammatory treatment to patients with heart failure that is not limited by toxicology concerns. As a cardiologist, I am excited to be part of this groundbreaking research,” stated Dr. Torre-Amione.
Disclaimer: Cardiol Therapeutics is a client of Edge Investments and we own shares in the company.