Diamond Therapeutics Announces Four Critical Hires to Further Accelerate Drug Development

Dr. Michael B. McDonnell hired as Chief Medical Officer, Dr. Jeffrey Sprouse as Director of Pipeline Development, Jamie Jarecki-Smith as Director of Clinical Operations and Dr. Nancy Raimondi as Director of Intellectual Property

TORONTO, Nov. 30, 2021 /CNW/ - Diamond Therapeutics Inc. ("Diamond"), a drug development company focused on low-dose psychedelic therapies for use in the treatment of mental health, is pleased to announce the appointment of Dr. Michael B. McDonnell, Dr. Jeffrey Sprouse, Jamie Jarecki-Smith, and Dr. Nancy Raimondi to four critical roles, as the organization moves forward with its first human clinical trial.

Dr. McDonnell MD, FRCPC, a specialist in emergency medicine and abuse liability, was appointed this summer in the newly created role of Chief Medical Officer.  Dr. McDonnell has more than 20 years of experience as a medical practitioner, lecturer, professor, and clinical research investigator and has worked with Worldwide Clinical Trials, Syneos Health, INC Research, and the Centre for Addiction and Mental Health.

Working with Dr. McDonnell is Dr. Jeffrey Sprouse, Diamond's Director of Pipeline Development and Jamie Jarecki-Smith, the company's new Director of Clinical Operations. Dr. Sprouse brings more than 20 years of experience leading successful preclinical drug efforts for top-tier pharmaceutical organizations in neuroscience and psychiatry-based disease. Jarecki-Smith brings 15 years of clinical experience spanning research, project management, device trials, and registry studies to her role. Jarecki-Smith is working in close collaboration with Diamond's CRO partner, BioPharma Services, overseeing all aspects of trial implementation, including the data safety review process, clinical monitoring, sub-contractor relationship and data management.

Diamond Therapeutics also brought on Nancy Raimondi, Ph.D., as its Director of Intellectual Property. Dr. Raimondi brings 20 years of experience in intellectual property management in the biotechnology and pharmaceutical sector, holding positions at Crescita Therapeutics and Nuvo Pharmaceuticals (now Miravo Healthcare). Prior to moving in-house, Dr. Raimondi was a patent agent at one of Toronto's leading law firms, where she advised clients on patents, licensing, and litigation matters.

"These additions to our executive bring expertise that will be key to furthering our intellectual property portfolio while accelerating our drug development efforts. The appointments are timely as we continue to enroll patients in our first human clinical trial," says Judy Blumstock, Founder and CEO of Diamond.

In November 2021, Diamond commenced a Health Canada-approved clinical trial to evaluate the pharmacokinetics and pharmacodynamics of low doses of psilocybin in healthy volunteers. The study is ongoing.

About Diamond Therapeutics
Diamond Therapeutics is a drug development company based in Toronto, Ontario. Our mission is to develop new and better therapies for mental health conditions by unlocking the promise of psychedelic compounds. Diamond is focused on sub-perceptual, non-hallucinogenic treatments that hold potential for use across a broad patient cohort —maximizing the positive impact better drugs can have on global mental health. To learn more about Diamond, visit www.diamondthera.com.

Cautionary Statements Regarding Forward-Looking Information
This news release includes certain "forward-looking information" under applicable Canadian securities legislation. Forward-looking information includes statements other than statements of historical fact that can be identified by phrases such as "expects", "anticipates", "intends", "aims", "plans" and "believes", and are based on expectations, estimates and projections as at the date of this news release. Forward-looking statements in this news release include, but are not limited to, the potential effects of low dose psilocybin and other psychedelic treatments, the potential use in treating mental health conditions and the timing and completion of Diamond's clinical programs and trials. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; delay or failure to receive applicable regulatory approvals; that factors may occur which impede Diamond's future business plans; the results of continued development, marketing and sales; and other factors beyond the control of Diamond. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Diamond disclaims any intention or obligation to update or revise any forward-looking information in this news release, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Diamond Therapeutics Inc.

Zulfikar Fahd, [email protected], Rebecca Brown, [email protected]