Ondine Announces Board Changes

VANCOUVER, BC / ACCESSWIRE / September 16, 2024 / Ondine Biomedical Inc. (LON:OBI), a leading Canadian life sciences company specializing in light-activated antimicrobial technologies, announces changes to its Board of Directors with the reappointment of Margaret Shaw and the resignation of Mr. Craig Tooman. Mr. Tooman steps down from the Board and as Audit Committee Chair having served a commendable three-year term to focus on his increasing duties as CEO of NASDAQ listed Silence Therapeutics Inc. Ms. Shaw, a seasoned finance professional with extensive experience in investment management and capital markets, will Chair the Audit & Risk Oversight Committee and join the Nominating & Governance Committee.

Margaret Shaw's reappointment comes at a pivotal time as Ondine continues to advance its pioneering photodisinfection technologies to address the global challenge of healthcare-associated infections and antimicrobial resistance. With a career spanning several decades, Ms. Shaw has held key leadership positions in some of Canada's largest financial institutions, including AGF Funds Inc. and CIBC (Canadian Imperial Bank of Commerce), where she managed portfolios exceeding $700 million. Her deep knowledge of finance, combined with her strategic vision, will provide a wealth of expertise that will be instrumental in guiding the company through its next phase of growth.

Carolyn Cross, CEO of Ondine Biomedical, commented:
"We are thrilled to welcome Margaret back to our Board. Her extensive background in finance, coupled with her strategic acumen, makes her an invaluable addition as we continue to drive innovation in the fight against healthcare-associated infections and antimicrobial resistance. Margaret's previous tenure on our Board and her longstanding support for Ondine's mission underscore her commitment to our vision of improving global health outcomes.

We are grateful for Mr. Tooman's contributions and his unwavering support of the company over these past few years and wish him continued success at Silence Therapeutics. Mr. Tooman's expertise and dedication have been invaluable during this crucial period of growth and development, and we extend our sincere appreciation for his efforts and commitment to the success of our organization."

Margaret Shaw's appointment strengthens Ondine's Board in several key areas:

• Financial Expertise: As a former Chartered Financial Analyst (CFA) and former institutional portfolio manager, Ms. Shaw brings critical financial management skills to the Board, enhancing its ability to navigate current and future financing challenges.

• Diversity and Inclusion: Ms. Shaw's reappointment contributes to Ondine's goals of achieving gender diversity on its Board, enabling the company to meet its target of a minimum of 33% female representation.

• Strategic Insight: With a proven track record in strategic planning and risk management, Ms. Shaw will play a pivotal role in shaping the company's direction as it progresses through the FDA approval process and continues to expand its market presence.

Margaret Shaw previously served on Ondine's Board of Directors from April 2009 to September 2011, during which time she contributed to the company's growth and strategic initiatives. Her return to the Board reflects her deep commitment to Ondine's mission and her confidence in the company's future.

Margaret Shaw added:
"I am honored to rejoin Ondine's Board of Directors at this exciting time in the company's trajectory. The company's dedication to addressing some of the most pressing challenges in healthcare resonates deeply with me, and I look forward to working alongside the Board and management team to help drive Ondine's success."

Regulatory Disclosures

Save for the information set out below, there are no further disclosures to be made in accordance with Rule 17, Schedule Two (g) of the AIM Rules for Companies in respect of the appointment of Ms. Margaret Shaw, aged 71.

Enquiries:

About Ondine Biomedical Inc.
Ondine Biomedical Inc. is a Canadian life sciences company and leader innovating light-activated antimicrobial therapies (also known as 'photodisinfection'). Ondine has a pipeline of investigational products, based on its proprietary photodisinfection technology, in various stages of development.

Ondine's nasal photodisinfection system has a CE mark in Europe and the UK and is approved in Canada and several other countries under the name Steriwave^®. In the US, it has been granted Qualified Infectious Disease Product designation and Fast Track status by the FDA and is currently undergoing clinical trials for regulatory approval. Products beyond nasal photodisinfection include therapies for a variety of medical indications such as chronic sinusitis, ventilator-associated pneumonia, burns, and many other indications.

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SOURCE: Ondine Biomedical Inc