Vancouver, British Columbia – October 18, 2012 – Sirona Biochem Corp. (TSX-V: SBM, OTC: SRBCF, Frankfurt: ZSB), an award-winning biotechnology company based in Vancouver, Canada and Rouen, France, is pleased to announce that it has named Nigel Terrett as Strategic Advisor. In this capacity, Mr. Terrett will provide strategic and tactical direction to improve operational productivity for the company’s growth plans.
“Nigel Terrett is a seasoned life sciences leader credited for implementing strategic plans that have improved productivity and promoted growth,” said Neil Belenkie, Chief Executive Officer of Sirona Biochem. “His executive experience at Excelleris, LifeLabs and MDS will be invaluable in delivering solutions and systems to support Sirona’s growth,” Mr. Belenkie added.
Sirona Biochem Corp. has granted a total of 400,000 stock options pursuant to the company’s stock option plan. These options expire in five years and have an exercise price of $0.07 cents per share. These options are granted to Nigel Terrett in connection with his appointment as Strategic Advisor. The options are subject to receipt of all necessary regulatory approvals.
Sirona Biochem also announces that Sean Cunliffe will be stepping down from the company’s Board of Directors. Additional board changes are expected in the coming months.
About Nigel Terrett
Nigel Terret has held leadership roles at Excelleris Technologies, LifeLabs, MDS Inc. and MDS Diagnostics. His several accomplishments in the life sciences sector include his role of Chairman of the Board at Excelleris Technologies, a medical information technology company, where he led the creation of the largest integrated patient and physician diagnostic database in Canada. As Chief Strategic Officer of LifeLabs Inc., Nigel created innovative collaborative programs with health institutions, provincial governments and health providers to improve health care and reduce costs. As Senior Vice President and General Manager of Life Labs BC, Nigel was responsible for 900 operational staff, 90 branch locations and two state-of-the-art medical laboratories providing over 15 million medical results per year. In this role, Nigel dramatically improved operational performance through Lean-Sigma methodologies. As Chief Information Officer of MDS Diagnostics Inc., Nigel led the restructuring of information technology services that resulted in multi-million dollar savings. As Vice-President IT at MDS Diagnostics, Nigel led a North American team that increased operating income by 50%. More recently, Nigel has provided strategic advisory services to the Biotech industry.
About Sirona Biochem Corp.
Sirona Biochem is a biotechnology company developing diabetes therapeutics, cancer vaccine antigens, skin depigmenting and anti-aging agents for cosmetic use, and biological ingredients. The company utilizes a proprietary chemistry technique to improve pharmaceutical properties of carbohydrate-based molecules. For more information, visit www.sironabiochem.com.
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Sirona Biochem Corp.
Sirona Biochem cautions you that statements included in this press release that are not a description of historical facts may be forward-looking statements. Forward-looking statements are only predictions based upon current expectations and involve known and unknown risks and uncertainties. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of release of the relevant information, unless explicitly stated otherwise. Actual results, performance or achievement could differ materially from those expressed in, or implied by, Sirona Biochem’s forward-looking statements due to the risks and uncertainties inherent in Sirona Biochem’s business including, without limitation, statements about: the progress and timing of its clinical trials; difficulties or delays in development, testing, obtaining regulatory approval, producing and marketing its products; unexpected adverse side effects or inadequate therapeutic efficacy of its products that could delay or prevent product development or commercialization; the scope and validity of patent protection for its products; competition from other pharmaceutical or biotechnology companies; and its ability to obtain additional financing to support its operations. Sirona Biochem does not assume any obligation to update any forward-looking statements except as required by law.