XORTX Therapeutics Appoints Dave Matthews CFO

CALGARY, Alberta, Feb. 22, 2018 (GLOBE NEWSWIRE) -- XORTX Therapeutics Inc. ("XORTX" or the “Company”) (CSE:XRX), a biopharmaceutical company focused on developing innovative therapies to treat progressive kidney disease, is pleased to announce the appointment of Dave Matthews as Chief Financial Officer (“CFO”).   Dave Matthews brings over 25 years of life sciences experience to XORTX.

Dave Matthews began his career in the life science field as CFO of Allelix Biopharmaceuticals in 1990, followed by a number of notably successful life science companies including StressGen Biotechnologies, Aspreva Pharmaceuticals and GenomeDX Biosciences. As CFO and a key member of senior management for these companies, Dave was involved in raising over $300 million in financing and negotiated and operated numerous joint ventures, strategic alliances and license agreements.

Dr. Allen Davidoff, XORTX CEO stated, “We are very pleased that Dave has agreed to join XORTX.  He is a respected and experienced finance executive with international experience and a track record of building successful businesses. He brings a strong track record of initiation, closing and managing fund raising efforts as well as an impressive number of licensing deals with big pharmaceutical companies.  His outstanding record growing revenue and market capitalization of the companies he has been involved with, as a C-level executive, is remarkable and will be of immense benefit to XORTX”, and he added, “We also wish to thank John Meekison, who acted as interim CFO for XORTX since the Company’s founding making a significant contribution to the Company taking it through the listing process.  John is remaining with XORTX to assist with the transition.”

Dave Matthews commented, “XORTX is pursuing an interesting strategy focused on the acquisition of de-risked assets in orphan diseases. I look forward to working with the XORTX team to support the development of these assets to provide useful therapeutic options to patients.”

About XORTX Therapeutics Inc.

XORTX Therapeutics Inc. is a 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 Therapeutics is available at www.XORTX.com.

For further information, please contact:

Erik Matthews, Corporate Communications & Investor Relations
+1-747-203-5240 or erik@xortx.com / ray@xortx.com

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 February 22, 2018