XORTX Announces Appointment of CFO

CALGARY, Alberta, Nov. 06, 2018 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the “Company”) (CSE:XRX; OTCQB:XRTXF), a biopharmaceutical company focused on developing innovative therapies to treat progressive kidney disease (“PKD”), is pleased to announce the appointment of James Fairbairn as Chief Financial Officer.  James Fairbairn has more than 20 years of experience with publicly-traded companies.  He is a Chartered Professional Accountant, having obtained his CPA designation in 1987 and an Institute-certified Director.  Jim Fairbairn holds a B.A. from the University of Western Ontario.   

Dr. Allen Davidoff, XORTX’s CEO stated, “We are pleased to have Jim join XORTX. His extensive corporate governance and financial reporting experience with emerging companies will be an asset for the Company.  We wish to thank Dave Matthews for his commitment to XORTX and excellent work during the time he was part of the team. We wish him all the best success in his future endeavors.  Dave is remaining with XORTX to assist with the transition.”

In connection with his appointment as Chief Financial Officer, James Fairbairn has been granted 250,000 options to purchase common shares of the Company exercisable at a price of $0.50 per common share and expiring five years from the date of grant, being November 5, 2023.

About XORTX Therapeutics Inc.

XORTX biopharmaceutical company focused on developing innovative therapies to treat progressive kidney disease.  XORTX has lead programs to develop treatments for progressive kidney disease due to diabetes, diabetic nephropathy and polycystic kidney disease.  Secondary programs focus on developing therapies for health consequences that accompany pre-diabetes, diabetes and cardiovascular disease. Additional information on XORTX is available at www.xortx.com.

For further information, please contact:

Allen Davidoff, CEO
adavidoff@xortx.com or +1 403 455 7727

or Erik Matthews, Corporate Communications & Investor Relations
info@xortx.com or +1 747 203 5240

The CSE has neither approved nor disapproved the contents of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.

Released November 6, 2018