CALGARY and CAMBRIDGE, MA, July 21 /PRNewswire-FirstCall/ - SemBioSys Genetics Inc. (TSX:SBS), a leading developer of biosimilar drug candidates, high-value proteins and oils utilizing its novel plant expression systems, today announced that Rick Pierce has joined the Company as President of US and International Operations. Mr. Pierce will open a US office in Cambridge, Massachusetts which will offer the Company a broader market to better exploit its technology platform and access to US and International markets.
Mr. Pierce joins SemBioSys after four successful years with Javelin Pharmaceuticals (NYSEamex:JAV), which was recently acquired by Hospira, Inc. (NYSE: HSP), where he served as Vice President, responsible for leading the firms investor relations and business development initiatives. Mr. Pierce played a significant role in the business development discussions which led to the Hospira transaction. Prior to Javelin, Mr. Pierce was a senior executive at two Nasdaq listed biotechnology firms for eight years including experience in doing business in China and had previously spent fourteen years with Wall Street firms including Merrill Lynch and Lehman Brothers. During his investment career, Mr. Pierce specialized in sales, trading and investment banking of healthcare and biotechnology equities. Mr. Pierce has been involved in a number of highly successful IPO's, secondary offerings, private placements, mergers and acquisitions and pharmaceutical licensing transactions.
Earlier this year, well known Canadian biotech analyst Karen Boodram joined the firm as Vice President of Business Development. Further, the Company has promoted Dr. Joe Boothe to Vice President of Research and Development and Dr. Harm Deckers to Vice President of Operations and Legal Affairs, both have made significant contributions to SemBioSys' intellectual property portfolio for over 15 years.
"Rick and Karen are key additions to SemBioSys' senior management team. They bring tremendous experience in successful deal making and first hand knowledge of big pharma drug development and commercialization, which has immediate benefits to our partnering efforts. Both have hit the ground running and are actively involved in working with myself and the rest of the organization on a number of corporate mandates, including partnering our insulin and Apo AI(Milano) programs. To this end, we are making excellent progress and look forward to success," stated James Szarko, President and CEO of SemBioSys. "With respect to partnering insulin, in China interest in the program and our technology platform has expanded to include a range Chinese companies with experience in plant biotech and with significant distribution capabilities. We plan to maintain control of our technology and be very active on the ground there shortly. I expect 2010 to be a watershed year."
Ms. Boodram was previously a Life Sciences Analyst for nine years with PI, Financial Corp. in Vancouver. There, she covered leading edge biotechnology and medical device companies in Canada, such as Sembiosys. Prior to PI Financial Corp. Ms. Boodram held several senior management positions over the span of a decade, with Ciba-Geigy now Novartis, in the pharmaceutical industry. Prior to their appointments to Vice Presidents, Dr. Boothe and Dr. Deckers were Director of Biochemistry, Director of Intellectual Property, respectively.
Calgary, Alberta-based SemBioSys is focused on leveraging its unique proprietary platform to manufacture high-value proteins and oils. SemBioSys' seed-based protein production system can provide for its partners product enablement, exceptionally low cost and unprecedented scalability. SemBioSys is applying the platform with high selectivity to products with tremendous clinical promise and value potential. The Company's current pharmaceutical development programs include insulin (SBS-1000, regulated as a biosimilar in Europe) and Apo AI(Milano), a next-generation cardiovascular therapy. SemBioSys is listed on the Toronto Stock Exchange under the ticker SBS. More information is available at www.sembiosys.com.
This press release contains certain forward-looking statements, including, without limitation, statements containing the words "believe", "may", "plan", "will", "estimate", "continue", "anticipate", "intend", "expect" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to, changing market conditions and market size, the acceptance of an IND by the FDA in respect of clinical studies, the submission of a CTA to the appropriate European authorities, the successful initiation and timely and successful completion of clinical studies, the fact that Apo AI(Milano) is currently a development stage drug, the establishment of corporate alliances, the impact of competitive products and pricing, new product development, uncertainties related to the regulatory approval process and other risks detailed from time-to-time in the Company's ongoing filings with the Canadian securities regulatory authorities which filings can be found at www.sedar.com. Given these risks and uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable Canadian securities laws.
SOURCE SemBioSys Genetics Inc.