Helus Pharma(TM) (NASDAQ: HELP) (Cboe CA: HELP), a clinical-stage pharmaceutical company developing novel serotonergic agonists for mental health treatments, announced that co-founders Eric So and Paul Glavine have stepped down from their executive and consulting roles while retaining their positions on the company's board of directors. So previously served as president and executive chairman, while Glavine served as chief growth officer.
The company also appointed Mark Lawson as independent chair of the board, effective immediately, and named So chairman emeritus. Lawson, who has served on the board since November 2020, brings more than 20 years of private equity and investment banking experience. The leadership changes follow the recent appointment of Michael Halstead as CEO and are intended to support the company's next stage of development.
Both co-founders expressed confidence in the current leadership team and will continue supporting Helus Pharma(TM) (NASDAQ: HELP) (Cboe CA: HELP) through their board positions. The company remains focused on advancing its HLP003 and HLP004 clinical programs and continues to anticipate reporting topline data from its Phase 3 APPROACH pivotal study of HLP003 for major depressive disorder in the fourth quarter of 2026.
The transition matters for investors because Helus Pharma is a clinical-stage company with no marketed products, meaning its valuation hinges on the success of its pipeline. HLP003 has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for the adjunctive treatment of major depressive disorder, a designation designed to expedite development and review of drugs for serious conditions. HLP004 is in Phase 2 for generalized anxiety disorder. The company also maintains an extensive research portfolio of investigational NSAs and operates in Canada, the United States, the United Kingdom and Ireland.
For a company at this stage, board and executive continuity can influence how smoothly clinical programs advance. Lawson's private equity and investment banking background may be relevant as Helus Pharma balances capital needs against the cost of late-stage trials. So's move to chairman emeritus and the co-founders' continued board presence suggest a deliberate handover rather than a rupture, which may reassure stakeholders watching for stability ahead of the Phase 3 readout.
Readers can view the full press release at https://ibn.fm/ayQkS and learn more about the company at www.helus.com. The announcement was disseminated through TinyGems, a communications platform within the Dynamic Brand Portfolio at IBN, which provides wire solutions via InvestorWire and editorial syndication to 5,000+ outlets. Full terms of use and disclaimers are available at https://www.TinyGems.com/Disclaimer.
