LOS ANGELES, June 17, 2004 (PRIMEZONE) -- Bio-Life Labs, Inc. (OTCBB:BLFE), a research-driven biotechnology company focused on discovery, development, manufacturing, and commercialization of breakthrough treatments for Cancer, Diabetes Mellitus, and Hepatitis C, announced today that the Company has appointed Joseph McGhie, LL.B., M.B.A. as its Executive Vice President and Chief Financial Officer.
McGhie is a 30-year veteran investment banker and corporate finance dealmaker who has initiated and completed strategic transactions exceeding $750 million. His expertise includes identifying equity investors for private, high growth companies; creating innovative capital structures; and arranging mergers, acquisitions, strategic partnerships and alliances. A frequent speaker at industry and community associations, Mr. McGhie is known for developing creative solutions to complex and challenging corporate finance situations.
"Bio-Life Labs is fortunate to have someone with Joe McGhie's depth of knowledge and experience in business and finance as a member of our executive team. Joe's years of experience in assisting early stage and middle market companies with financing initiatives will be invaluable as we prepare to advance our research and development initiatives through the regulatory process," said Chairman and Chief Executive Officer Nancy LeMay.
McGhie holds a Bachelor of Laws degree from the University of Alberta, Canada and an M.B.A. with Second Year Honors from Harvard Business School. As a strong supporter of graduate education, Mr. McGhie has been involved in the Anderson Graduate School of Business Administration; The University of Southern California; University of Nevada Las Vegas; and Harvard Business School Association in Orange County and Los Angeles.
About Bio-Life
Bio-Life, Labs, Inc. is a research-driven biotechnology company focused on discovery, development, manufacturing and commercialization of breakthrough treatments for Cancer, Diabetes Mellitus, and Hepatitis C. The Company's first product candidate, Carcinoderm(tm), is a topical treatment that in the estimation of Management destroys skin cancer cells in patients diagnosed with Basal Cell Carcinoma, Squamous Cell Carcinoma and Melanoma in a one-time application without harming surrounding healthy tissue.
Bio-Life labs, Inc. cautions you that statements included in this press release that are not a description of historical facts are forward-looking statements. The inclusion of forward-looking statements should not be regarded as a representation by Bio-Life labs, Inc. that any of its plans will be achieved. Actual results may differ materially from those set forth in this release due to the risks and uncertainties inherent in Bio-Life labs, Inc.'s business including, without limitation, statements about: difficulties or delays in research, development, testing, obtaining regulatory approval, producing and marketing its technologies and products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization, or that could result in recalls or product liability claims; the scope and validity of patent protection for its products; its ability to meet product development objectives; competition from other pharmaceutical or biotechnology companies; its ability to obtain additional financing to support its operations; its ability to attract and retain experienced scientists and management; as well as other risks detailed in Bio-Life labs, Inc.'s Securities and Exchange Commission filings. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement and Bio-Life labs, Inc. undertakes no obligation to revise or update this news release to reflect events or circumstances after the date hereof.