S&P 500 falls as ongoing government shutdown, trade jitters weigh
LONDON - Shortwave Life Sciences PLC (PSY), a healthcare company focused on anorexia nervosa treatments listed on the Aquis Stock Exchange Growth Market, announced Wednesday a corporate restructuring following a comprehensive business review.
The company is implementing a Digital Asset Treasury Management Strategy to support funding for its core operations and will initiate a clinical human feasibility study examining psilocybin’s impact on anorexia nervosa, according to a press release statement.
As part of the restructuring, Dr. Nadya Lisovoder has been appointed as Clinical Advisor to the Board to lead the clinical trial agenda. Dr. Lisovoder brings over 21 years of experience in academic and clinical studies across the pharmaceutical, diagnostic, and medical devices industries.
Several leadership changes were also announced. Rivki Stern Youdkevich has stepped down as Chief Executive Officer and Board director with immediate effect. Stephen Murphy will assume the role of Chief Operating Officer while maintaining his Board position, and Stephen Molloy will become an Executive Director to oversee the digital asset treasury management strategy.
Shortwave plans to appoint Archax, a UK FCA regulated exchange, broker and custodian for digital assets, to assist with its cryptocurrency investments. The company has established an internal risk committee to oversee this process.
The company stated that funds raised in July will support both the treasury strategy implementation and fund a human feasibility trial on psilocybin as an anorexia treatment at an academic institution.
Rolf Gerritsen, Executive Chairman, described the restructuring as providing "a clear pathway towards developing our core business" with the digital asset strategy helping to fund core activities.
The company’s Board now consists of Gerritsen as Executive Chairman, Murphy as COO, Molloy as Executive Director, and Ron Lipsky as independent Non-Executive Director. All changes will require shareholder approval at an upcoming AGM.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.