BioSyent Announces Changes to Its Board of Directors
January 08 2018 - 6:09PM
BioSyent Inc. (“BioSyent”) (TSX Venture:RX) today announced the
retirement of two long-serving Directors, Mr. Douglas Larson and
Mr. Milton Wakefield, from its Board of Directors. BioSyent
also announced the appointment of Mr. Larry Andrews and Ms. Sara
Elford to its Board of Directors.
Messrs. Larson and Wakefield have served on the
Board of Directors for 21 years and 20 years, respectively, helping
to guide the Company through much challenge, transformation and
growth during their tenure. “We thank Mr. Larson and Mr. Wakefield
for their long service, commitment and contribution to the success
of BioSyent,” remarked René Goehrum, Chairman, President and
CEO of BioSyent.
Upon the retirement of Messrs. Larson and
Wakefield, BioSyent is pleased to welcome Mr. Larry Andrews to its
Board of Directors. Mr. Andrews is an accomplished senior
executive with more than 37 years of experience in the
pharmaceutical industry. Mr. Andrews was President and CEO of
Cipher Pharmaceuticals, a TSX-listed Canadian pharmaceutical
company, between 2004 and 2014. He previously served as
President of AltiMed Pharmaceutical Company, as well as various
other senior leadership roles with major pharmaceutical companies,
including Hoffman La Roche, Janssen Pharmaceuticals, and Eli Lilly
Canada. Mr. Andrews is also the Founder and President of The
Health Alliance Group, a healthcare consulting firm. Mr.
Andrews holds an Honours B.Sc. from Memorial University. Mr.
Andrews recently served as a Board Director for GMD Distribution
Inc., a logistics service provider for the life sciences industry,
which was acquired by McKesson Canada in 2017.
BioSyent is also pleased to welcome Ms. Sara
Elford to its Board of Directors. Ms. Elford brings a wealth
of capital markets experience and financial expertise to the Board
of Directors. She has enjoyed a long career in Canadian
capital markets as a Director and Research Analyst with a major
Canadian investment firm as well as in investment banking roles
with Kidder Peabody and Wood Gundy. Ms. Elford is a Chartered
Financial Analyst Charterholder and holds a BBA from Bishop’s
University. Ms. Elford previously served as an Independent
Director of Pure Technologies Ltd., a TSX-listed infrastructure
technology company, and presently serves as an Independent Director
of Carmanah Technologies Corporation, a TSX-listed solar lighting
design and manufacturing company, and Hydrogenics Corporation, a
TSX and NASDAQ-listed fuel cell and hydrogen generation design and
manufacturing company.
“I am delighted to welcome two accomplished
leaders, Larry Andrews and Sara Elford, to BioSyent’s Board of
Directors,” commented René Goehrum. “They each bring an
impressive level of experience, expertise and business acumen to
the Board and I look forward to their insights as we strive to
deliver continued profitable growth to our shareholders.”
The Company also wishes to announce that its
Board of Directors has passed a resolution to grant a total of
35,567 stock options to management, officers, directors and
advisors of BioSyent. The option grant is the result of
BioSyent’s annual compensation review and is made under the
Company’s Incentive Stock Option Plan (“the Plan”) approved by
shareholders on May 24, 2017. Each option entitles the
optionee to purchase one common share of the Company at an exercise
price of $9.60. These options are excerciseable for a period
of ten years from the date of grant.
For a direct market quote (15 minutes delay) for
the TSX Venture Exchange and other Company financial information
please visit www.tmxmoney.com.
About BioSyent Inc.
Listed on the TSX Venture Exchange under the
trading symbol “RX”, BioSyent is a profitable growth-oriented
specialty pharmaceutical company focused on in-licensing or
acquiring innovative pharmaceutical and other healthcare products
that have been successfully developed, are safe and effective, and
have a proven track record of improving the lives of
patients. BioSyent supports the healthcare professionals that
treat these patients by marketing its products through its
community, hospital and international business units.
As of the date of this press release, the
Company has 14,509,095 shares issued and outstanding.
For further information please
contact:
Mr. René C. GoehrumPresident and CEOBioSyent
Inc.Tel: (905) 206-0013E-Mail: investors@biosyent.comWeb:
www.biosyent.com
This press release may contain information or
statements that are forward-looking. The contents herein
represent our judgment, as at the release date, and are subject to
risks and uncertainties that may cause actual results or outcomes
to be materially different from the forward-looking information or
statements. Potential risks may include, but are not limited
to, those associated with clinical trials, product development,
future revenue, operations, profitability and obtaining regulatory
approvals.
Neither TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
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