Former Head of Business Development at Cynapsus Therapeutics Broadens Pond Executive Leadership Team as Company Builds Foundation for Growth
MARKHAM, ON / ACCESSWIRE / March 30, 2021 / Pond Technologies Holdings Inc. ("Pond") (TSX.V:POND)(OTCQB:PNDHF)(FSE:400), an ESG company addressing global sustainability challenges of wellness and climate change is pleased to announce the appointment of Nigel deGruyther, former head of Business Development, Cynapsus Therapeutics, as Vice President of Pond Biotech. In his new role at Pond, Mr. deGruyther will report directly to Grant Smith, Pond CEO.
At Cynapsus, Nigel headed the business development team, where he was instrumental in leading the strategic corporate activities that resulted in the 2016 acquisition of Cynapsus by Sunovion, (the US subsidiary of Sumitomo Dianippon Pharma) for CAD$841 Million.
Prior to joining Cynapsus, Nigel spent several years as a sell-side analyst covering a range of companies developing products in medical devices, diagnostics, and drugs. He has also worked on the buy-side in venture capital at MDS Capital Corp., which was Canada's leading life science venture capital investor at the time.
After obtaining an undergraduate degree in pharmacy, Nigel went on to serve in the Canadian Armed Forces as a pharmacy officer in the Special Service Force, and Central Medical Equipment Depot as well as deploying to Saudi Arabia with 1 Canadian Field Hospital during the Gulf War. Nigel left the military to pursue his MBA at the University of Western Ontario.
Grant Smith, Pond CEO, commented "We are very excited to welcome Nigel deGruyther to the Pond team, as the Vice President of our newly created Biotech division. Having recently completed a successful private placement and with encouraging interest for our disruptive technology, Nigel joins us at an important juncture within the company's lifecycle. We believe that Nigel's extensive diagnostic, pharma and financial network will be instrumental in guiding the future growth of Pond's Biotech division"
Nigel deGruyther commented, "After examining the opportunity at Pond, I was impressed at the potential for algae and Pond's proprietary growing system to be the next evolutionary production step in the biopharmaceutical industry. I am looking forward to proving out this technology and bringing new life-altering medications to the market."
About Pond Technologies Holdings Inc.:
Located in Markham, Ontario, Pond Technology is a technology leader in controlled environment cultivation of micro-algae. In over ten years of R&D, Pond has developed a robust disruptive technology platform based on artificial intelligence, proprietary LED-lights and patented CO2-Management. The use of concentrated CO2 from industrial waste streams enables Pond to boost productivity of micro-algae well beyond the capacity of outdoor algae growers and allows industrial emitters to abate and ultimately recycle CO2. Pond is currently selling micro-algae derived antioxidant Astaxanthin under its Regenurex brand. As micro-algae are becoming increasingly important in pharmaceuticals and cosmetics, nutraceuticals, human nutrition, aqua farming, bioplastics and biofuels, Pond has begun to license its technology to third parties for ongoing license fees and royalties. Pond recently added a Biotech division focused on the growth of unique strains of micro-algae to be used as a reproductive medium for the expression of human anti-bodies and proteins.
For more information, please visit https://www.pondtech.com/.
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SOURCE: Pond Technologies Holdings Inc.
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