bioMD (BOD) announces new MD, new Chairman and Board

bioMD Limited (ASX:BOD), a company with assets in regenerative tissue engineering technologies has announced the appointment of a new Chairman, a new MD and other changes to its Board. This follows shareholder approval for the acquisition of Allied Medical Ltd., a company that specialises in the sales, distribution and commercialisation of medical technologies.

Effective immediately, Mr Christopher Catlow, Mr Graeme Rowley, Mr Lee Rodne and Mr Jet Soedirdja have been appointed Directors to the board of bioMD. Robert Scott, Chairman of bioMD Limited, has advised the Board of his decision to resign as a director.

Former Allied Medical Chairman Christopher Catlow has been appointed Chairman of the new merged group. Mr Catlow was the inaugural CFO of Fortescue Metals Group Ltd and played a central role in its development, in particular raising capital. He has served on the boards of several listed companies. He is currently Chairman of Sirius Minerals and Indo Mines.

Graeme Rowley and Jet Soedirdja have been appointed to the Board as non-executive directors.

Graeme Rowley joins from the Allied Medical board. He played a central role in the development of Fortescue Metals Group Ltd from its inception in 2003. He recently retired as an Executive Director of Fortescue but continues to serve as a Non-Executive of the company.

Jet Soedirdja, a director of biotechnology company Avexa Ltd., brings extensive investment markets experience to the Board. He has held directorships both in Australia and abroad. He is currently an investment advisor at Bell Potter Securities.

Lee Rodne has been appointed Managing Director. He has held executive leadership roles in a number of public and private companies in the US, Europe and Australia. He has served as a Director and Vice president of a U.S. based Healthcare Consulting & Distribution Company specializing on GE Healthcare products and services. Lee was appointed CEO of Allied Medical in 2005.

Robert Towner and Michael Bennett will continue to serve the new entity, taking executive director positions.

Mr Rodne said the experience the new Board brings will be a valuable asset in helping the management team deliver continued growth in both the company’s product pipeline and in its established sales and distribution business.

“With the appointment of the new Board, we have created a solid platform on which to position the company for continued growth. We have brought together a unique mix of businesses and technologies that offer shareholders the opportunity to benefit from the diversification of the new healthcare group.”

The Company has a product pipeline which includes bioMD’s unique tissue engineering technologies developed by Professor Leon Neethling, and the ground breaking work being undertaken by Professor Ian Frazer at Coridon. Allied Medical is the major investor in Coridon Pty. Ltd. Professor Frazer, best known as the developer of the Gardasil cervical cancer vaccine, is focused on developing next generation DNA vaccines for a range of infectious diseases and Cancer. DNA vaccines have the potential to offer both preventative and therapeutic benefit.

“The integration of the two companies will provide synergies that both management and the Board can focus on while delivering shareholder value. We will continue to look at ways to enhance our product pipeline, fast track product development to market and continue to examine other growth strategies,” Mr Rodne said.

Source: www.biomd.com.au