VANCOUVER, British Columbia, Aug. 9, 2010 (GLOBE NEWSWIRE) -- biOasis Technologies Inc. (TSX-V:BTI) is pleased to announce that David T. Howard has accepted an invitation to join the Board of Directors of the Company and that Craig D. Thomas has resigned from the Board.
David is a highly resourceful and results-driven senior management professional in pharmaceuticals, with a proven record of international success in operations, strategic marketing, R&D, licensing and strategic alliances, manufacturing, distribution & international finance including acquisitions and divestitures.
Since 2003, Mr. Howard has been Chairman of Angiotech Pharmaceuticals Inc. of Vancouver, BC. Working closely with the Board of Directors and the Chief Executive Officer, Mr. Howard has made meaningful contributions to the development of Angiotech's vision, strategic agenda and business plan.
David is the past President & Chief Operating Officer of Novopharm International & Novopharm USA where he oversaw over $500 million in annual drug sales. David contributes 30 years of experience encompassing several pharmaceutical giants in the US, Canada, Europe, England and France and maintains an excellent reputation within the industry.
David has extensive experience as a board and committee member with: Angiotech Pharmaceuticals (2003-present), SCOLR Pharma Inc. (2000-2005), Sembiosys Genetics Inc. (2004-2009), Oncodigm Biopharma Inc (2004-2006), Delex Therapeutics Inc (2003-2005), Novopharm France (1998-2000), Novopharm South Africa (1998-2000), Humanpharma, Budapest, Hungary (1997-2000), Wampole Canada Inc. (1997-2000), Wes-Pak (1996-2000), MDS Ventures Pacific Inc. (1996-2005), Gerex (1995-2000) and Novopharm Biotech (1995-99) and Stanley Pharmaceuticals ( 1989-1999).
In addition to his Bachelor of Science (Chemistry) and Bachelor of English degrees from the University of Saskatchewan, Mr. Howard has completed numerous professional and management courses at several institutions of higher education including Dartmouth College (Hanover, New Hampshire), HEC INSEAD (Fontainebleau, France) and the University of British Columbia. In 2008, David completed the Board Governance program at Graduate ICD School for Directors -- Rotman School of Business, and Simon Fraser University.
With his extensive knowledge and experience in the area of biotech, pharmaceuticals, and diagnostics, David brings a wealth of experience and skills to the biOasis board of directors.
"David brings vast experience within the Pharmaceutical market and expertise at the Board of Directors level, a combination that is extremely hard to find," says Rob Hutchison CEO. "Board of Directors play a key role in all companies, but especially so in young companies like biOasis where they often have more involvement in direction. We have the opportunity now to draw upon David's past successes, his vast knowledge base and connections he has made over the past 30 years within our industry. Also on behalf of the Board I would also like to thank Craig Thomas for his services in serving as a director."
"I'm very excited to be joining biOasis's Board," says David Howard. "biOasis offers what seems to be two very compelling propositions for the health care industry. There is no question in my mind that a simple, easy to administer blood test to assist physicians in diagnosing Alzheimer's is urgently needed that will help physicians to initiate a therapeutic regime sooner. Then add to this the Transcend™ product and now you may have a way to help get therapeutics designed to treat Central Nervous Systems diseases, like Alzheimer's. Although there is work to be done, the results so far are very encouraging."
David Howard will receive 150,000 incentive stock options, exercisable at $0.47 for 5 years from the date of grant, subject to the approval of the TSX Venture Exchange. The options are subject to vesting provisions.
ABOUT BIOASIS:
biOasis Technologies Inc. is a Biopharmaceutical company focused on the Health Care & Life Sciences market and is engaged in the development and commercialization of diagnostics and therapeutic delivery systems related to neurological diseases. It has extensive and comprehensive intellectual property ("IP"), which it obtained from The University of British Columbia. The Company's initial area of focus has been on the utilization of the IP to pursue a biomarker for the diagnosis of Alzheimer's disease ("Cognitest™"). This IP has been corroborated in double-blinded and successive multi-site human sample trials.
The Company is also accelerating its work on its Blood-Brain Barrier Therapeutic delivery platform ("Transcend™") that has been independently verified to shuttle a variety of therapeutic compounds across the Blood-Brain Barrier.
On Behalf of the Board of Directors
Forward Looking Statements
Certain statements in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 or forward-looking information under applicable Canadian securities legislation that may not be based on historical fact, including without limitation statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and similar expressions. Such forward-looking statements or information involve known and unknown risks, uncertainties and other factors that may cause our actual results, events or developments, or industry results, to be materially different from any future results, events or developments express or implied by such forward-looking statements or information. Such factors include, among others, our stage of development, lack of any product revenues, additional capital requirements, risk associated with the completion of clinical trials and obtaining regulatory approval to market our products, the ability to protect our intellectual property, dependence on collaborative partners and the prospects for negotiating additional corporate collaborations or licensing arrangements and their timing. Specifically, certain risks and uncertainties that could cause such actual events or results expressed or implied by such forward-looking statements and information to differ materially from any future events or results expressed or implied by such statements and information include, but are not limited to, the risks and uncertainties that: we may not be able to successfully develop and obtain regulatory approval for p97 as a Physician's Aid to Diagnose Alzheimer's, or future products in our targeted corporate objectives; our future operating results are uncertain and likely to fluctuate; we may not be able to raise additional capital; we may not be successful in establishing additional corporate collaborations or licensing arrangements; we may not be able to establish marketing and the costs of launching our products may be greater than anticipated; we have no experience in commercial manufacturing; we may face unknown risks related to intellectual property matters; we face increased competition from pharmaceutical and biotechnology companies; and other factors as described in detail in our filings with the Canadian securities regulatory authorities at www.sedar.com. Given these risks and uncertainties, you are cautioned not to place undue reliance on such forward-looking statements and information, which are qualified in their entirety by this cautionary statement. All forward-looking statements and information made herein are based on our current expectations and we undertake no obligation to revise or update such forward-looking statements and information to reflect subsequent events or circumstances, except as required by law.
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