#Canada #stock options #Quebec #Devonian Health #Dennis Turpin

Devonian Health Group Welcomes Dennis Turpin as CFO

In a significant development for the biopharmaceutical sector, Devonian Health Group Inc., a clinical-stage company dedicated to finding innovative therapies for fibroinflammatory diseases, has announced the appointment of Dennis Turpin as its Chief Financial Officer (CFO). Turpin, a seasoned executive, will advance into this vital role effective immediately. He has previously been serving on the company's Board of Directors and has substantial expertise in finance, particularly focused on capital markets transactions, business development, and mergers and acquisitions within the biopharmaceutical industry.

Dr. André P. Boulet, Chief Executive Officer of Devonian, expressed optimism regarding Turpin's impact on the company, stating, "I am pleased to welcome Dennis and confident that he will help strengthen our management approach, diversify our perspectives, enhance our collective expertise, and help guide the development of Devonian." This move comes as part of a broader effort to fortify the company's leadership team during a pivotal period in its growth.

Turpin's predecessor, Viktoria Krasteva, will remain with the company through February 27, 2026, to ensure a seamless transition. The Board of Directors has acknowledged Krasteva's contributions and wishes her success in her future endeavors as she steps down from the CFO position.

Stock Options Update

In conjunction with his new role, Turpin has been granted a total of 25,000 stock options. These options carry an exercise price of $11.50 and will be immediately vested, providing Turpin with an opportunity to invest further in the company’s future.

Furthermore, Devonian addressed certain discrepancies in earlier announcements concerning stock options. Initially, a total of 2,948,056 stock options were mentioned for directors and consultants. This figure has undergone corrections, along with additional grants of 385,950 options to employees and 100,000 options to a research consultant. Importantly, the exercise price in previous statements was corrected from $0.18 to $0.19 per share, as required by the company’s stock option plan, to ensure it reflects market conditions.

On January 22, 2026, Devonian completed a significant stock consolidation where one post-consolidation share equals 60 pre-consolidation shares. This adjustment impacts the stock options significantly. The corrected exercise price for options, on a post-consolidation basis, is now set at $11.40, illustrating the firm's robust strategic maneuvers in navigating market conditions and stock evaluations.

About Devonian Health Group

Founded in 2015 and headquartered in Quebec, Canada, Devonian Health Group is at the forefront of the biopharmaceutical industry, targeting unmet medical needs through the development of prescription drugs aimed at treating various auto-immune fibroinflammatory diseases. Their innovative drug development strategy covers conditions such as atopic dermatitis, radiodermatitis, and ulcerative colitis.

Devonian is also expanding its reach into the cosmeceutical market, leveraging proprietary methods used in its pharmaceutical offerings. With a dedicated subsidiary, Altius Healthcare LP, the company focuses on commercializing prescription pharmaceutical products across Canada.

Overall, with Dennis Turpin stepping into the CFO role, Devonian Health Group is poised for strategic growth and innovation, aligning its leadership, operations, and values with its mission to advance health outcomes for patients confronting complex health issues.