BELLEVILLE, ON, April 18 /PRNewswire-FirstCall/ - Bioniche Life Sciences Inc. , a research-based, technology-driven Canadian biopharmaceutical company, today announced that its long-time Board Chair, Mr. Hy Isenbaum, has passed away.
"This is very sad news for Bioniche Life Sciences," said Graeme McRae, the Company's President & CEO. "As Board Chair, Mr. Isenbaum contributed financial expertise and vigilance regarding the Company's financial statements. Additionally, he has provided a high level, conservative, ethical tone that permeates the whole Company in terms of regulatory affairs, product development, and overall conduct of the business. He will be greatly missed by all who knew and worked with him. He was a mentor and a friend."
Mr. Isenbaum was Chair of the Board since 1999, when Bioniche Life Sciences Inc. was formed through an amalgamation of Bioniche Inc., Renaissance Life Sciences Inc., and Vetrepharm Animal Health Inc.
Mr. Isenbaum was a Fellow Chartered Accountant and the Founder of the firm Soberman, Isenbaum and Colomby. As the Managing Partner, a position he held until 1993, he built his firm to be the 15th largest accounting practice in Canada. He was a Chairman of the Board and Chairman Emeritus of the Mount Sinai Hospital in Toronto. He was appointed by the Ontario Ministry of Health as Ombudsman to the Medical Review Committee of the College of Physicians and Surgeons. He served on the Board of Directors of the Samuel Lumenfeld Research Institute in Toronto and was instrumental in the establishment of the Institute. Mr. Isenbaum was also a Governor of the Weizman Institute of Science in Israel and sat on the boards of a number of private and public companies.
In honour of Mr. Isenbaum's extensive contributions to Bioniche, the "Hy Isenbaum Award" has been created. This will be presented annually to the Bioniche employee who best epitomizes the Bioniche spirit - whether at work or in the community.
A new Chair will be appointed at the Board's next quarterly meeting in early May.
About Bioniche Life Sciences Inc.
Bioniche Life Sciences Inc. is a research-based, technology-driven Canadian biopharmaceutical company focused on the discovery, development, manufacturing, and marketing of proprietary products for human and animal health markets worldwide. The fully-integrated company employs approximately 200 skilled personnel and has three operating divisions: Human Health, Animal Health, and Food Safety. The Company's primary goal is to develop proprietary cancer therapies supported by revenues from marketed products in human and animal health. Bioniche has been named one of Canada's Top Ten Life Sciences Companies for 2008. For more information, please visit www.Bioniche.com.
Except for historical information, this news release may contain forward-looking statements that reflect the Company's current expectation regarding future events. These forward-looking statements involve risk and uncertainties, which may cause, but are not limited to, changing market conditions, the successful and timely completion of clinical studies, 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 quarterly and annual reporting.
CONTACT: Jennifer Shea, Corporate Communications, Investor & Government
Relations Director, Bioniche Life Sciences Inc., Telephone: (613) 966-8058,
Cell: (613) 391-2097, Jennifer.Shea@Bioniche.com
