On February 25, 2021, the Board of Directors (the “Board”) of Tenax Therapeutics, Inc. (the “Company”) appointed Dr. June Almenoff, Dr. Michael Davidson, Dr. Declan Doogan and Dr. Stuart Rich as members of the Board.
Dr. Rich’s appointment to the Board was to the terms of the Agreement and Plan of Merger (the “Merger Agreement”), dated January 15, 2021, by and among the Company, Life Newco II, Inc., PHPrecisoinMed Inc. and Dr. Rich, in his capacity as holders’ representative (the “Representative”), as previously disclosed in the Company’s Current Report on 8-K filed with the SEC on January 19, 2021, and which is incorporated herein by reference (the “Merger Form 8-K”).
In addition, the Representative notified the Company that Dr. Davidson and Dr. Doogan are the intended designees for the two additional directors the Representative is expected to be entitled to designate to the Merger Agreement, as previously disclosed in the Merger Form 8-K, and because of the Company’s desire to expand the expertise of the Board, Dr. Davidson and Dr. Doogan are being appointed prior to the receipt of stockholder approval for the transaction as contemplated in the Merger Agreement.
Other than the transactions previously disclosed in the Merger Form 8-K, Dr. Rich, Dr. Davidson and Dr. Doogan are not currently proposed to be a participant in any related person transaction with the Company or any related person that would require disclosure under Item 404(a) of Regulation S-K.
There are no arrangements or understandings between Dr. Almenoff and any other persons to which Dr. Almenoff was selected as a member of the Board, and there are no transactions between Dr. Almenoff and the Company that would require disclosure under Item 404(a) of Regulation S-K.
Dr. Davidson, Dr. Doogan, and Dr. Almenoff will each receive compensation for their service as a member of the Board in accordance with the policies established for director compensation by the Company’s Corporate Governance and Nominating Committee
A copy of the press release announcing the appointment of Dr. Rich, Dr. Davidson, Dr. Doogan and Dr. Almenoff is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01
Financial Statements and Exhibits
TENAX THERAPEUTICS, INC. ExhibitEX-99.1 2 tenx_ex991.htm PRESS RELEASE tenx_ex991 EXHIBIT 99.1 Tenax Therapeutics,…
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About Tenax Therapeutics, Inc. (NASDAQ:TENX)
Tenax Therapeutics, Inc. is a specialty pharmaceutical company. The Company is focused on identifying, developing and commercializing products for the critical care market. The Company’s main product is levosimendan. Levosimendan is a calcium sensitizer developed for intravenous use in hospitalized patients with acutely decompensated heart failure. Levosimendan represents therapeutic modalities for the treatment of Low Cardiac Output Syndrome (LCOS), septic shock and other critical care conditions. The therapeutic effects of levosimendan are mediated through increased cardiac contractility by calcium sensitization of troponin C, resulting in a positive inotropic effect, which is not associated with substantial increases in oxygen demand; opening of potassium channels in the vasculature smooth muscle, resulting in a vasodilatory effect on all vascular beds, and opening of mitochondrial potassium channels in cardiomyocytes, resulting in a cardioprotective effect.
