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Sinobiomed Announces New Executive Team
Date:2/17/2009

oming Chairman of the Board. Mr. Metcalf is an executive with extensive private equity and investment banking experience and has previously held investment positions at Morgan Stanley and GF Private Equity Group.

The team plans to implement immediately the following strategic initiatives:

  • Licensing opportunities with the Company's patented SFDA (China) approved products and pre-approved products in Asia, Europe, and the U.S.
  • Strategic investments in Sinobiomed's product pipeline and protein discovery platform through fund raising via debt, equity, or a combination of both;
  • Identify potential acquisition candidates in China;
  • Implement a real-time online management information system to provide timely business insight on financial, operational, and external information to enable management to understand and act before competitors intended to create increased shareholder value.

"Sinobiomed is a multi-stage biopharmaceutical company whose value can be attributed to its strong recombinant technology development platform, proprietary late-stage pre-commercial products, and its current SFDA approved products," said Dr. Kuo. "We believe the Company's considerable assets can be leveraged to transform Sinobiomed into a leading biopharmaceutical company and intend to move swiftly on these strategic initiatives to accelerate growth to attain that goal."

Mr. Choong further commented: "As CFO I am excited by the opportunity to move forward with this strong new team. I will provide business insight into the financial aspects of the strategic initiatives to be implemented and to promote increasing transparency and corporate governance in the Company's operations."

Mr. Banyun Yang, has resigned from his positions as President, Chief Executive
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SOURCE Sinobiomed Inc.
Copyright©2009 PR Newswire.
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