Montreal- June 18, 2024- Valeo Pharma appointed Mr. Al Moghaddam as Chief Development Officer (“CDO”), and consequently, he is stepping down from the Company’s Board of Directors.

As Valeo’s new CDO, Mr. Moghaddam will lead the design and implementation of strategies to identify and negotiate with financial parties with a view to strengthening the Company’s capital structure in order to finance the future growth and development of the Company. He will work directly with the senior management team to plan, review, and revise the company’s development programs. Mr. Moghaddam will also support the development and growth of the business through building relationships in the industry, identifying both product and M&A opportunities.

“In the short period of time Mr. Moghaddam spent on the Valeo Board of Directors, he played an active role in our recently announced restructuring of our respiratory business unit”, said Steve Saviuk, CEO. “Al has a solid track record of delivering results and creating value, we look forward to his expertise as our Chief Development Officer’’.

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Commenting on his appointment as Valeo’s new CDO, Mr. Moghaddam said; ‘’I am very excited to be joining Valeo at such a transformative time in its corporate development. I look forward to working together with the rest of the leadership team, to ensure Valeo has a strong capital structure from which it can successfully pursue its ambitious growth prospects and continue adding to its leading product portfolio of innovative drugs’’.