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VICTORIA, BC, Sept. 7,
2023 /CNW/ - Eupraxia Pharmaceuticals Inc.
("Eupraxia" or the "Company") (TSX: EPRX), a Phase 2 clinical-stage
biotechnology company with an innovative drug delivery technology
platform, announced today that the board of directors of the
Company approved the appointment of KPMG LLP ("KPMG") as auditor of
the Company, with such appointment being effective as of
August 30, 2023. Concurrently, Baker
Tilly WM, LLP ("Baker Tilly"), has resigned as the Company's
auditor.
In accordance with the requirements of National Instrument
51-102 – Continuous Disclosure Obligations ("NI 51-102"), a change
of auditor notice and acknowledgement letters from Baker Tilly and
KPMG have been filed under Eupraxia's profile on SEDAR+. There were
no "reportable events" (within the meaning of NI 51-102) involving
Baker Tilly.
About Eupraxia Pharmaceuticals
Inc.
Eupraxia is a clinical-stage biotechnology company focused on
the development of locally delivered, extended-release products
that have the potential to address therapeutic areas with high
unmet medical need. The Company strives to provide improved patient
benefit and has developed technology that delivers targeted,
long-lasting activity with fewer side effects.
Eupraxia's lead product candidate, EP-104IAR, recently completed
a Phase 2b clinical trial for the
treatment of pain due to osteoarthritis of the knee. EP-104IAR met
its primary endpoint and three of the four secondary endpoints. The
EP-104 platform has expanded into gastrointestinal disease and has
dosed patients in a Phase 1b/2a
program to treat eosinophilic esophagitis. Eupraxia is also
developing a pipeline of later and earlier stage long-acting
formulations. Potential pipeline indications include candidates for
both other inflammatory joint indications and oncology, each
designed to improve on the activity and tolerability of currently
approved drugs. For further details about Eupraxia, please visit
the Company's website at: www.eupraxiapharma.com.
Forward-Looking
Statements
This news release includes forward-looking statements and
forward–looking information within the meaning of Canadian
securities laws. Often, but not always, forward–looking information
can be identified by the use of words such as "plans", "is
expected", "expects", "scheduled", "intends", "contemplates",
"anticipates", "believes", "proposes" or variations (including
negative and grammatical variations) of such words and phrases, or
state that certain actions, events or results "may", "could",
"would", "might" or "will" be taken, occur or be achieved.
Forward-looking statements in this news release include statements
regarding the Company's business strategies and objectives,
including current and future plans and opportunities, expectations
and intentions; statements regarding the Company's ongoing clinical
trials and pipeline development; the ability of the Company to
execute on its business strategy; the potential of Eupraxia's
product candidates; the Company's expectations regarding its
product designs, including with respect to potential benefits,
targeted shelf life, storage, ease of integration, duration,
tolerability, effectiveness and safety; the results gathered from
studies of Eupraxia's product candidates; the potential for the
Company's technology to impact the drug delivery process; the
competitive advantages of the Company's technology; the benefits to
patients from the Company's drug platforms; and the translation of
the Company's technologies and expansion of its offerings into
clinical applications.
Such statements and information are based on the current
expectations of Eupraxia's management, and are based on
assumptions, including but not limited to: future research and
development plans for the Company proceeding substantially as
currently envisioned; industry growth trends, including with
respect to projected and actual industry sales; the Company's
ability to obtain positive results from the Company's research and
development activities, including clinical trials; and the
Company's ability to protect patents and proprietary rights.
Although Eupraxia's management believes that the assumptions
underlying these statements and information are reasonable, they
may prove to be incorrect. The forward–looking events and
circumstances discussed in this news release may not occur by
certain dates or at all and could differ materially as a result of
known and unknown risk factors and uncertainties affecting
Eupraxia, including, but not limited to: the Company's ability to
complete the Private Placement on the terms set out herein; the
Company's limited operating history; the Company's novel technology
with uncertain market acceptance; if the Company breaches any of
the agreements under which it licenses rights to its product
candidates or technology from third parties, the Company could lose
license rights that are important to its business; the Company's
current license agreement may not provide an adequate remedy for
its breach by the licensor; the Company's technology may not be
successful for its intended use; the Company's future technology
will require regulatory approval, which is costly and the Company
may not be able to obtain it; the Company may fail to obtain
regulatory approvals or only obtain approvals for limited uses or
indications; the Company's clinical trials may fail to demonstrate
adequately the safety and efficacy of its product candidates at any
stage of clinical development; the Company may be required to
suspend or discontinue clinical trials due to side effects or other
safety risks; the Company completely relies on third parties to
provide supplies and inputs required for its products and services;
the Company relies on external contract research organizations to
provide clinical and non-clinical research services; the Company
may not be able to successfully execute its business strategy; the
Company will require additional financing, which may not be
available; any therapeutics the Company develops will be subject to
extensive, lengthy and uncertain regulatory requirements, which
could adversely affect the Company's ability to obtain regulatory
approval in a timely manner, or at all; the impact of the COVID-19
pandemic on the Company's operations; and other risks and
uncertainties described in more detail in Eupraxia's public filings
on SEDAR+ (sedarplus.ca). Although Eupraxia has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward–looking statements and information, there may be other
factors that cause actions, events or results to differ from those
anticipated, estimated or intended. No forward–looking statement or
information can be guaranteed. Except as required by applicable
securities laws, forward–looking statements and information speak
only as of the date on which they are made and Eupraxia undertakes
no obligation to publicly update or revise any forward–looking
statement or information, whether as a result of new information,
future events or otherwise.
SOURCE Eupraxia Pharmaceuticals Inc.