Microbix Biosystems Inc. Realigns Executive Management Team To Support Revenue Growth And Accelerate Commercialization
TORONTO, Jan. 10 - Microbix Biosystems Inc. today announced a realignment of responsibilities among its Executive Management Team to accelerate the growth of the Company's core business and the commercialization of its proprietary technologies.
William J. Gastle, formerly President and CEO, is now the Chairman and CEO. In his new capacity, Bill will focus his time and energy primarily on the commercialization of Microbix' large-market products - specifically its Vaccine, Oncology, and SST technologies. Bill is the founder of Microbix.
Philip Casselli, who joined Microbix in 2003 as General Manager, has been appointed the new President. Phil is a graduate Chemical Engineer and has worked in the biotechnology and pharmaceutical industries in Canada and the U.S. for 20 years. His primary focus now will be on growing the revenue of the core virology and biopharmaceutical business units so that Microbix is able to direct additional funding to and accelerate development of its large-market product pipeline.
James Long is the new Chief Financial Officer. Jim has been a member of the Board of Directors of the Company since its inception and has held several directorial positions, most recently Chairman of the Audit Committee. He is a graduate engineer from the University of Toronto, a Professional Engineer in the province of Ontario, and he holds an MBA (Finance) from the University of British Columbia. He has also served in senior financial roles in the management of several other companies.
"We're tremendously excited about this realignment as it gives us the management bench strength we need to grow," said Mr. Gastle. "We're especially fortunate because the team members are not only experienced and talented, they are also thoroughly familiar with our business."
Microbix specializes in developing proprietary biological technologies and then commercializing those technologies through global partners. Its products include biotherapeutic drugs, vaccines, and infectious disease diagnostics. Its objective during the next decade is to develop a pipeline of products and technologies for what is expected to be a multi-billion dollar biologics market worldwide. Established in 1988, Microbix is headquartered in Toronto.
This press release contains forward-looking statements, which are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in the forward-looking statements including the risks associated with failure to develop and commercialize, resistance to business model for commercialization and implementation; risk associated with operations among others. These forward-looking statements represent the Company's judgment as of the date of this press release. The Company disclaims any intent or obligation to update these forward-looking statements.
For further information: visit www.microbix.com or contact: William J. Gastle, Chairman and CEO, Microbix Biosystems Inc., (416) 234-1624 x 230