RespireRx Pharmaceuticals Inc, which is developing dronabinol for the treatment of obstructive sleep apnea, announces that Timothy Jones has joined as its president and CEO. Jones has been a member of the company’s board of directors since January 28, 2020. RespireRx is developing treatments to combat disorders caused by disruption of neuronal signaling, but for which there are limited or poor treatment options, including obstructive sleep apnea (OSA), attention deficit hyperactivity disorder (ADHD), and recovery from spinal cord injury (SCI), as well as certain neurological orphan diseases such as Fragile X Syndrome.
RespireRx entered into a 3-year employment contract with Timothy Jones to serve as chief executive officer and president. The contract has an initial provisional term of approximately 3 months, through July 31, 2020, such provisional term being subject to extension by consent of the parties on a month-to-month basis thereafter unless terminated in writing. If the employment contract is not terminated during the provisional term, the contract will expire on September 30, 2023 unless earlier terminated in accordance with the terms of the employment contract. Arnold Lippa, PhD, who has been serving as the company’s interim CEO and interim president, will cease to serve in those capacities, but will continue to serve as the company’s executive chairman and chief scientific officer.
Jones has a track record in global commercial business development, specializing in developing and sustaining high value strategic and tactical partnerships. RespireRx states that Jones is recognized for his expertise in the strategic development and growth of active pharmaceutical ingredient categories through partnerships with a broad cross section of brand and generic pharmaceutical and biopharmaceutical companies worldwide. His extensive knowledge base and expertise across multiple pharmaceutical disciplines have contributed to his successful track record of financial growth. For the past three years, as vice president of global pharmaceutical and medical OTC at Purisys LLC, an affiliate of Noramco Inc, and as vice president business development-Global Cannabinoids Portfolio at Noramco Inc, Jones was instrumental in building a fully operational and highly successful global commercial cannabinoids business. Prior to that, he was vice president strategic portfolio management at Midas Pharmaceuticals Inc and also has previously held leadership roles with Par Sterile Products, and Johnson Matthey.
Lippa says in a release, “We are very enthusiastic about Tim joining the Company as CEO and president and, given his outstanding commercial acumen and successful background in cannabinoids and business development, we are confident that he will successfully lead us through the next stage of our development.”
Jones says, “It is with sincere gratitude that I accept this appointment. I am honored to be afforded the opportunity and accountability to lead RespireRX to the next level in realizing its maximum potential. There could not be a more exciting time to assume the reigns of a corporation at the forefront of cutting-edge platforms, including cannabinoids, ampakines, and GABA neuromodulators. The highly experienced executive management tenure, partnered with our asset rich portfolios across multiple developing market categories and our strategic value propositions, make for a very bright future.”