Calgary – October 12, 2026 -- XORTX Therapeutics Inc. (NASDAQ: XRTX | TSXV: XRTX | Frankfurt: ANU) has appointed Depesh Narotam, a financial services executive with more than 20 years of experience, to its board as an independent director effective July 27, 2026.
Board determines Narotam meets Nasdaq and Canadian independence standards
The board determined that Narotam, 43, is independent under applicable Nasdaq listing standards and Canadian securities laws. He also joins the board's Compensation, Governance and Nominating Committee.
Narotam is a resident of British Columbia, Canada.
Narotam brings debt financing and real estate lending expertise, not drug development experience
Since December 2020, Narotam has worked as a Mortgage Development Manager at Vancity, which the source describes as Canada's largest community-based credit union and a member-owned financial co-operative. Before joining Vancity, he spent 16 years at Westminster Savings Credit Union, now Prospera Credit Union. There he held positions including Mortgage Specialist and Business Development Manager.
His background centers on debt financing and strategic lending solutions. He has also been responsible for market expansion and strategic partnerships in the real estate lending sector.
Appointment comes as XORTX carries three clinically advanced programs and flags capital needs
XORTX is a late-stage clinical pharmaceutical company developing therapies for gout and progressive kidney disease. Its three clinically advanced products are XRx-026 for gout, XRx-008 for ADPKD, and XRx-101 for acute kidney and other acute organ injury associated with respiratory virus infections. The Company is also developing XRx-225, a pre-clinical program for Type 2 diabetic nephropathy, and recently acquired the VB4-P5 program, which is at the pre-IND stage.
The Company's forward-looking statements list its need for, and ability to obtain, additional capital to fund development programs and operations among its principal risks. They also cite its ability to obtain regulatory approval for XRx-026 and other candidates on anticipated timelines, or at all. The Company also lists its ability to attract and retain qualified personnel, including the newly appointed director, as a risk.