Business
Med BioGene Inc. appoints John H. Rayson, M.D. as Chairman of the Board; reports financial results for third quarter 2006
Med BioGene Inc. appoints John H. Rayson, M.D. as Chairman of the Board; reports financial results for third quarter 2006.
About this update from Many Bright Ideas Technologies Inc
[{"type":"text","content":"\n\n\n\n\nVANCOUVER, Nov. 29 /CNW/ - Med BioGene Inc. (TSX Venture: MBI), an\nemerging biotechnology company developing genetic biomarkers for use in\nimproving diagnosis, prognosis and treatment decisions for patients suffering\nfrom certain cancers and cardiovascular disease, today reported that it\nappointed John H. Rayson, M.D. as its new Chairman of the Board and further\nreported its financial results for the three months ending September 30, 2006.\n\nAPPOINTMENT OF JOHN H. RAYSON, M.D. AS CHAIRMAN OF THE BOARD\n\nThe Board of Directors of MBI on November 25, 2006 appointed John H.\nRayson as its new Chairman of the Board, replacing the founder of MBI and its\nPresident and Chief Scientific Officer, Dr. T. Nathan Yoganathan. Dr.\nYoganathan stated \"We are very pleased that Dr. Rayson has accepted the\nappointment of Chairman. Dr. Rayson's experience and accomplishments in the\nindustry are invaluable in assisting Med BioGene's efforts to develop its\ngenetic biomarkers and his increased role with the company as Chairman is\nconsistent with our commitment to the highest corporate governance standards.\"\nDr. Rayson has been a director of MBI since 2004. Dr. Rayson practiced\nfamily medicine for 27 years before joining MDS Metro Laboratory Services in\n1994 as President and Chief Executive Officer, a position he held until 2001\nwhen he became Chief Executive Officer and Executive Vice Chairman. Dr. Rayson\nretired as CEO in June 2006 but continues as Executive Vice Chairman. MDS\nMetro Laboratory Services is part of the diagnostics division of MDS Inc.\n(TSX: MDS; NYSE: MDZ).\n\nFINANCIAL RESULTS FOR THIRD QUARTER 2006\n\nRecent Business and Scientific Highlights\n\n>\n\nErinn B. Broshko, Chief Executive Officer of MBI, stated \"Med BioGene has\nmade impressive progress over the last quarter as we continued to develop our\ngenetic biomarkers for lymphoma and expect to meet certain important\nscientific milestones in the second quarter of 2007 regarding the accuracy,\nsensitivity and specificity of the biomarkers. Upon meeting such milestones,\nwe will be in a position to initiate discussions with potential partners to\nlicense our lymphoma biomarkers for use as an effective tool for accurate and\nrapid disease diagnosis and prognosis. We are also aggressively developing our\ngenetic biomarkers for leukemia and, through our...