BioSyent Management Announcement
December 13 2007 - 5:00PM
Marketwired
MISSISSAUGA, ONTARIO (TSX VENTURE: RX), is pleased to announce
the promotion of Alfred D'Souza to the position of Vice-President,
Chief Financial Officer. Mr. D'Souza is a Certified Management
Accountant and M.B.A. (Wilfrid Laurier University) who joined
BioSyent as Controller and Director of Finance in October 2006. Mr.
D'Souza has over 25 years of accounting, finance and operations
management experience in international businesses ranging from
early stage to rapid growth to mature markets. Prior to joining
BioSyent, Mr. D'Souza enjoyed a 16 year career with progressive
management assignments at Colgate-Palmolive Company. Mr. D'Souza's
last two positions at Colgate-Palmolive were Head of Finance
(Country Controller) at Colgate-Palmolive Vietnam while it grew
from sales of less than to USD $2 million to over $25 million, and
most recently as Finance Director and Controller of
Colgate-Palmolive India a publicly traded (BSE) USD $225 million
company with 4,000 employees and 6 manufacturing plants in
India.
In commenting on the promotion of Mr. D'Souza, Rene Goehrum,
President and CEO of BioSyent remarked "We are delighted to have
Alfred as part of our senior management team. Alfred's hands-on
experience in corporate finance, supply chain management and
commercial operations is invaluable as we prepare for the next
phase in the growth and development of our business."
The Company also announces the grant of 445,000 incentive stock
options to certain directors, officers and employees of the
Company. These incentive stock options are exercisable at a price
of $0.10 up to December 12, 2012.
BioSyent continues to concentrate on its pharmaceutical strategy
to source products that have been successfully developed and proven
to be safe and effective; manage these products through the
regulatory process and product registration (approval); and once
approved, market these products in Canada. These pharmaceuticals
will compete in both the branded and generic market segments and
will not require further product development investment other than
regulatory costs.
BioSyent Inc. is a publicly traded specialty pharmaceutical
company whose wholly owned subsidiary, BioSyent Pharma Inc.,
sources, acquires or in-licences pharmaceutical products and
markets these products in Canada. Wholly owned BioSyent subsidiary
Hedley Technologies Ltd. operates the company's legacy business
marketing bio and health friendly non-chemical insecticides.
BioSyent common shares are listed for trading on the TSX Venture
Exchange (TSXV) under the symbol RX.
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.
The TSX Venture Exchange assumes no responsibility for the
accuracy of this release and neither approves nor disapproves of
same.
Contacts: BioSyent Inc. Rene C. Goehrum President and CEO (905)
206-0013 (905) 206-1413 (FAX) Email: rgoehrum@biosyent.com Website:
www.biosyent.com
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