Glen Rock, N.J., Dec. 11, 2023 (GLOBE NEWSWIRE) — RespireRx Pharmaceuticals Inc. (OTC Pink Market: RSPI) (“RespireRx” or the “Company”), a biopharmaceutical company focused on the discovery and development of innovative and revolutionary treatments to combat diseases caused by disruption of neuronal signaling, is pleased to announce that, on December 6, 2023, it has entered into an agreement with Ponto Ventures LLC providing for Will Clodfelter to serve as RespireRx’s Senior Vice President of Business Development on a part-time basis.
Mr. Clodfelter will initially lead the business development efforts with respect to dronabinol, the lead asset of ResolutionRx Ltd, a wholly-owned Australian subsidiary of the Company. Mr. Clodfelter will collaborate with Jeff Eliot Margolis, the Company’s Senior Vice President, Chief Financial Officer, Treasurer and Secretary in driving these efforts.
Mr. Clodfelter has extensive experience providing business development, strategy, and valuation consulting services to pharmaceutical, biotech and medical device companies, where he has led or been a core member on over 30 international and domestic pharmaceutical licensing and device negotiations ranging from preclinical to launched products. This experience extends across large pharmaceutical, biotechnology and medical device companies. He previously held positions at Eli Lilly and Co. in Corporate Strategy and Business Development. He was at Amylin Pharmaceuticals in New Product Planning and Decision Sciences and was involved in multiple business development activities. Following Amylin, Mr. Clodfelter was the Chief Executive Officer of Medicus Biosciences and Abvance Therapeutics, both biotechnology firms based in California.
“I am very excited about working with Will,” said Jeff Margolis, the Company’s Senior Vice President, Chief Financial Officer, Treasurer and Secretary. “His involvement adds considerable depth and experience to our financial and business activities being conducted to set up our programs for investment, partnering or sale. While his initial efforts will focus on the ResolutionRx dronabinol program,