Toronto Stock Exchange Symbol: LRI
LAB continues to make strong additions to its scientific team
LAVAL, QC, Feb. 2 /CNW Telbec/ - LAB Research Inc. ("LRI" or "LAB Research") (TSX: LRI), a Canadian-based global non-clinical contract research organization, today announced the nominations of Mr. Jean-Guy Bienvenu as Director, Pathology Services of LAB Research Canada, Mr. Andrew Graham as Senior Director of Operations of LAB Research Canada and departure of Ms. Louise Bussières as of February 1, 2010.
Ms. Bussières, previously Vice-President Finance for LRI left the Company to pursue other interests. LAB Research will be announcing the nomination of a new Chief Financial Officer over the coming days.
Mr. Bienvenu is a senior veterinary pathologist certified by the American College of Veterinary Pathologist with over 12 years of experience with pharmaceutical corporations and Contract Research Organizations. Prior to joining LAB Research Canada, Mr. Bienvenu was Principal Pathologist at Pfizer in Chazy, New York, Senior Principal Scientist at Sanofi-Aventis in Bridgewater, New Jersey, and Veterinary Pathologist at ITR Laboratories in Montreal, Quebec. Mr. Bienvenu, who will be responsible for all pathology services at LAB Research Canada, is the third Board certified pathologist to join LAB Research Canada after Muthafar Al-Haddawi and Julius Haruna who joined the company in the second half of 2009. The addition of these three high calibre scientists has enhanced the scientific profile of the site.
Mr. Graham has been promoted to Senior Director of Operations. For the last three years, he combined the role of Global Head of Quality Assurance for LRI and Senior Director Quality Assurance for LAB Research Canada. Prior to joining LAB Research, Mr. Graham spent 20 years at Charles River Laboratories as well as two years at Schering-Plough in New Jersey. Mr. Graham will be replacing Denis Pilon, the previous Chief Operating Officer who no longer works for LRI.
"LAB Research is committed to providing its clientele with the highest level of scientific expertise and these senior staff additions will elevate yet again the scientific profile of LRI. We are proud to be able to count on such a strong team of pathologists in Canada," stated Mr. Luc Mainville, Chief Executive Officer and President of LAB Research. "The nomination of Andrew Graham and the new Chief Financial Officer are intended to help the site implement the necessary operational and organizational changes to achieve the site's financial performance objectives and meet shareholders expectations." added Mr. Mainville.
"After having completed two expansions and successfully introduced several new lines of services over the last couple of years in Canada, local management will now be focussing on addressing the site's financial performance which has been impacted by the strength of the Canadian dollar and the challenging market environment. I want to thank Ms. Bussières and Dr. Pilon for their dedication and contribution to LAB Research Canada's success over the past few years. We wish them the best of luck in their future endeavours," concluded Mr. Mainville.
About LAB Research Inc.:
LAB Research is a Canadian global non-clinical contract research organization that provides contract research services to the pharmaceutical, biotechnology, agro-chemical, petro-chemical and industrial markets. LAB Research supports the development of its customers' products from three state-of-the-art facilities located in Canada, Denmark and Hungary.
LAB Research's shares trade on The Toronto Stock Exchange ("TSX") under the symbol "LRI", with 52.7 million shares outstanding.
This news release contains certain forward-looking statements that reflect the current views and/or expectations of LAB Research Inc. with respect to its performance, business and future events. Such statements are subject to a number of risks, uncertainties and assumptions. Actual results and events may vary significantly.
SOURCE LAB RESEARCH INC.
For further information: For further information: visit LAB Research's website at www.labresearch.com, or: Luc Mainville, Chief Executive Officer, (450) 973-2240 (ext. 1206), firstname.lastname@example.org; Frédéric Dumais, Partner, Jasmin-Dumais Financial Communications, (514) 862-1251, email@example.com