TORONTO, Jan. 11 /CNW/ - GenSci Regeneration Sciences Inc., The
OrthoBiologics Company(TM), (GenSci), today announced the promotion of Dr.
James M. DeMesa to Chief Executive Officer (CEO), succeeding Dr. James Trotman
who will continue to serve as Chairman of the company. In addition, Douglass
C. Watson is appointed Executive Vice-President as well as President and Chief
Operating Officer of the company's U.S. subsidiary, GenSci Orthobiologics Inc.
based in Irvine, California. Dr. DeMesa, previously President and CEO of the
U.S. subsidiary, will remain CEO.
"The promotions of Jim DeMesa and Doug Watson reflect their importance
and success in guiding GenSci's continuing growth as a leader in the
orthbiologics field. Their leadership since 1996 helped us build GenSci into
The OrthoBiologics Company(TM), and put us on track to approximately double
our revenues for the year to about C$30 million (US$20 million) compared with
the C$16 million (US$10.8 million) recorded in 1998," said Dr. Trotman. "Their
appointments also are indicative of our focus on building our management team
as GenSci further expands our product and our technology portfolio, and as we
continue growing our sales and drive toward profitability."
Dr. DeMesa, 42, was appointed President and Chief Operating Officer of
GenSci in March 1999. He will continue as President and a director of GenSci.
Dr. DeMesa joined GenSci in 1996, prior to which he was Vice-President of
Medical and Regulatory Affairs at Biodynamics Inc., a publicly owned U.S.
biomedical company, where he led a successful process of regulatory change
related to the emerging tissue industry.
Dr. DeMesa obtained his MD degree and an MBA from the University of South
Florida and practiced as a family practitioner in Florida. After leaving his
private medical practice in 1989, he served as Vice-President of Medical
Affairs for Belmac Corporation, an international pharmaceutical company based
in Florida.
Doug Watson joined GenSci in 1996 after six years with Biodynamics
International Inc., where he had served as Vice-President, Sales and
Marketing, directing sales, marketing, and distribution in more than 40
countries as the world's largest allograft producer outside of the United
States. He joined GenSci as Senior Vice-President for its orthobiologics
business, based in Irvine.
Mr. Watson's career has included increasingly senior marketing and sales
positions with several companies following his obtaining an MBA from Georgia
State University, service in the U.S. Navy (he recently retired as a Captain
in the U.S. Naval Reserve), and graduation from Auburn University with a
degree in Business Administration.
GenSci Regeneration Sciences Inc. is The OrthoBiologics
Company(TM),focusing on innovative treatments for musculoskeletal repair,
reconstruction, and regeneration. The company currently designs, develops,
manufactures, and markets biotechnology products focused in the areas of
orthopedics, neurosurgery, and oral maxillofacial surgery.
Certain statements contained herein constitute forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks,
uncertainties, and other factors, which may cause the actual results,
performance or achievements of the company to be materially different from
those expressed or implied. Forward-looking statements involve risks and
uncertainties, including, but not limited to, such risks as are described in
the company's annual report.
I can't imagine that this alone is the explanation of the recent increase in share price.
Happy investing,
andras |
