TORONTO, CANADA--(Marketwire - May 4, 2010) - GeneNews Limited (TSX:GEN), an emerging molecular diagnostics company focused on the application of functional genomics to enable early diagnosis and personalized health management, today announced Board and management changes following the Company's Annual and Special Meeting of Shareholders held on May 3, 2010 in Toronto.
Appointment of Ms. Leslie Auld as Chief Financial Officer
Effective May 3, 2010, Ms. Leslie Auld has been appointed Chief Financial Officer and Treasurer for GeneNews. Ms. Auld succeeds Mr. Sonny Young who was appointed to the role of Vice President of Finance and Treasurer in January 2009 on an interim basis. Mr. Young will continue to work with the Company in a consulting capacity.
Ms. Auld began her professional career in 1991 with PriceWaterhouseCoopers. She later joined Helix BioPharma Corp. where she progressed from Controller to Chief Financial Officer. In 2004, she joined Luminex Diagnostics (formerly TM BioScience Corp.) as Senior Director of Finance, where she focussed on finance and operations during a period of growth and then held a pivotal role in the transaction that took TM BioScience private when it was acquired by Luminex. Ms. Auld joined Attwell Capital Inc. (formerly Fralex Therapeutics) as Chief Financial Officer in 2007. She left that position in June 2009 but continued to support Attwell and other issuers in a consulting capacity. Ms. Auld was initially retained by GeneNews on January 1, 2010, as a financial consultant.
A Chartered Accountant, Ms. Auld graduated with an Honours Bachelor of Science, Pharmacology & Toxicology from the University of Western Ontario, and has a Master of Business Administration degree from the University of Toronto.
"We are very pleased to have attracted a financial professional of Leslie Auld's calibre to this key position. Her track record and experience with rapidly evolving emerging public issuers in the healthcare sector will be a great asset for GeneNews going forward," commented Dr. Heiner Dreismann, Lead Director and interim CEO of GeneNews.
Changes to the GeneNews Board of Directors
Ms. Gailina J. Liew, President and COO of GeneNews, was elected to the Company's Board of Directors at the Company's annual shareholder meeting held yesterday. In addition, shareholders re-elected six incumbent directors: Mr. Rory Riggs, Dr. Heiner Dreismann, Mr. James Howard-Tripp, Mr. Garth MacRae, Mr. Harry Glorikian and Dr. David Sable. Shareholders also honoured Dr. K. Wayne Marshall, Dr. Choong-Chin Liew and Ms. Fran Tuttle who did not stand for re-election to the Board of Directors.
"We are indebted to Wayne and CC for their vision and accomplishments", said Mr. Rory Riggs, Chair of the GeneNews Board of Directors. "Their early work advanced our understanding of osteoarthritis at the genomic level. In recent years, they applied the Sentinel Principle® to conceive and develop an innovative blood-based test for colorectal cancer, ColonSentry™, an important product for enhanced cancer detection and prevention. We are also very appreciative of the efforts and service of Fran Tuttle." Dr. Marshall will continue to support certain clinical validation activities and Dr. Liew will continue to lead the company's discovery research efforts.
"On behalf of the Board of Directors, I would also like to welcome Ms. Liew. She has already made many outstanding contributions to the Company's success and we look forward to working more closely with her as a fellow director," added Mr. Riggs.
Engagement of Kilmer Lucas
GeneNews also announced that it has engaged Kilmer Lucas Inc. to provide investor and public relations services in both Canada and the United States.
Kilmer Lucas (http://www.kilmerlucas.com) is a leading cross-border financial communications boutique with a strong healthcare industry focus. The firm's co-founder and President, Mr. Stephen Kilmer, will oversee the services provided to GeneNews. Mr. Kilmer has over twenty years of industry experience and, prior to founding Kilmer Lucas, was the Vice President of Investor and Public Affairs for OccuLogix Inc., a NASDAQ- and TSX-listed company. He also served as the Vice President of Investor Relations and Corporate Communications for TLC Vision Corporation, the LASIK eye surgery pioneer and OccuLogix's parent company.
GeneNews is an emerging molecular diagnostics company focused on the application of functional genomics to enable early diagnosis and personalized health management based on disease-specific biomarkers. The Company has been granted two U.S. patents for its core platform technology, the Sentinel Principle®, which has the power to detect and stage virtually any disease or medical condition from a simple blood sample. GeneNews is currently applying the Sentinel Principle® in major areas with unmet clinical needs such as cancer, arthritis, cardiovascular disease and neurological disorders. GeneNews launched its first commercial product, ColonSentry™, a blood-based test to assess an individual's risk for colorectal cancer, in Canada in 2008. The Company expects ColonSentry™ to be introduced to the New York and New Jersey markets, through GeneNews' exclusive partnership for these U.S. states with Enzo Clinical Labs (NYSE:ENZ), in the second half of 2010. For more information on GeneNews and ColonSentry™, visit http://www.genenews.com and http://www.colonsentry.com.
This press release contains forward-looking statements, which reflect the Company's current expectations regarding future events. The forward-looking statements involve risks and uncertainties. Actual events could differ materially from those projected herein. Investors should consult the Company's ongoing quarterly filings and annual reports for additional information on risks and uncertainties relating to these forward-looking statements. The reader is cautioned not to rely on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements.