VANCOUVER, BRITISH COLUMBIA--(Marketwire - June 27, 2012) - biOasis Technologies Inc. (BTI) (TSX VENTURE:BTI) is pleased to announce that Mr. Gregory Gubitz has joined the Board of Directors of the Company.
Mr. Gubitz is a seasoned life science executive and lawyer, with significant transaction and investment experience. Mr. Gubitz was most recently Senior Vice President, Corporate Development and General Counsel of Biovail Corporation; formerly Canada's largest publicly traded pharmaceutical company. In that capacity he was responsible for all mergers & acquisitions and product acquisitions. Mr. Gubitz was also responsible for worldwide legal operations, culminating with the $7 billion merger of Biovail and Valeant Pharmaceutical International Inc. Prior to joining Biovail, for 10 years he was a senior executive with MDS Capital, a leading North American venture capital company, focused on healthcare. As Chief Operating Officer of MDS Capital, Mr. Gubitz was responsible for all operational aspects of the company with a total of $1 billion under management. Prior to joining MDS Capital, Mr. Gubitz was a partner at one of Canada's leading international law firms, where he represented numerous public and private companies in a wide range of financings, mergers & acquisitions, joint ventures, and business transactions. He graduated from McGill University and was called to the Ontario Bar in 1984.
"Greg makes a tremendous addition to our Board, bring vast experience in key areas that the company is now entering into," says Rob Hutchison CEO. "His transactional expertise will help guide us in developing corporate business development strategies and his background in capital markets fits very well with our overall finance objectives."
"I'm very happy to be joining the Board of the company," says Greg Gubitz. "As an advisor to the Board for the past number of months, it has given me the opportunity to work with management and the Board, and I believe that by coming onto the board at this time, I can provide guidance in a number of areas that are presenting themselves to company."
biOasis Technologies Inc. is a biopharmaceutical company engaged in the development and commercialization of products for the diagnosis and treatment of neurological diseases and disorders. Its products and technologies are intended for use within the healthcare and life science markets. The Company is currently developing Transcend, a proprietary molecular carrier intended to transport drugs across the Blood-Brain Barrier for treatment of a wide range of neurological, oncological and infectious disease applications. biOasis is also developing Cognitest, a blood test to potentially aid clinicians in the diagnosis of Alzheimer's disease.
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.
On Behalf of the Board of Directors
Rob Hutchison, Chairman & CEO
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