- Addition of Lennie Ryer CPA, CA, CFE Strengthens Management Team
TORONTO, March 3, 2015 /CNW/- SQI Diagnostics Inc. (TSX:V: SQD), a life sciences company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics, today announced it has appointed Lennie Ryer CPA, CA, CFE to its Management team. In his capacity as CFO he will assist the Company in its transition from a development stage to a commercially successful company including strategic financing initiatives to advance the Company's capital market strategy and to secure funding to drive future growth and further expansion of SQI proprietary technologies.
"The extensive experience Lennie brings to SQI is well-aligned with our financial objectives. He has led the financial strategy of numerous public and private companies in the biotech sector as CFO, advisor and Board of Director member." said Andrew Morris, CEO of SQI Diagnostics. "Mr. Ryer will be an important member of the SQI team as we transition to profitability and our financial profile changes accordingly"
Mr. Ryer previously held the position of Chief Financial Officer and Vice-President of Finance at ConjuChem Biotechnologies Inc., a publicly traded biotechnology company developing peptide based drugs to improve the treatment of human diseases such as diabetes and growth deficiencies. With ConjuChem, he designed and executed multiple treasury and secondary offerings in excess of $300 million, negotiated $45 million in convertible notes with a Wall Street institution, and as a member of the Board of Directors, played an integral role in the development and execution of ConjuChem's IPO.
Mr. Ryer also worked at Paladin Labs Inc., a specialty pharmaceutical firm, from 1999-2001, in the position of CFO and VP Finance. At Paladin, Mr. Ryer transitioned the company to the Toronto Stock Exchange and led the company's most significant financing initiative.
Mr. Ryer was formerly the managing partner of the Montreal office of BDO, an international accounting and advisory firm. During his eighteen years in public practice, Mr. Ryer specialized in mergers and acquisitions and taxation.
Mr. Ryer holds a B.Comm degree in Finance from McGill University and a degree in Public Accountancy from McGill University Faculty of Graduate Studies. He holds a Chartered Accountant designation from the Institutes of Ontario and Quebec.
About SQI Diagnostics
SQI Diagnostics is a life sciences and diagnostics company that develops and commercializes proprietary technologies and products for advanced microarray diagnostics. The Company's proprietary microarray tests and fully-automated systems are designed to simplify protein and antibody testing workflow, increase throughput, reduce costs and provide excellent data quality. For more information, please visit www.sqidiagnostics.com.
This news release contains certain forward-looking statements, including, without limitation, statements containing the words "will", "expects", "intends" and other similar expressions which constitute "forward-looking information" within the meaning of applicable securities laws. Forward-looking statements reflect the Company's current expectation and assumptions, and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those anticipated. These forward-looking statements involve risks and uncertainties including, but not limited to risks related to the failure to obtain necessary regulatory approvals, general economic and market segment conditions, and international risk and currency exchange, agreements and future agreements to sell our products, the success of our Diagnostic Tools and Services business and our intent to build near-term revenue streams from this business, the successful regulatory filing and receipt of regulatory approvals for our later stage quantitative diagnostic kits, the acceleration of our revenue ramp, general economic and market segment conditions, competitor activity, technology changes and regulatory approvals. Such statements reflect the current views of the Company with respect to future events and are subject to certain risks and uncertainties and other risks detailed from time-to-time in the Company's ongoing filings with the securities regulatory authorities, which filings can be found at www.sedar.com. Actual results, events, and performance may differ materially. Readers are cautioned not to place undue reliance on these forward-looking statements. The Company undertakes no obligation to publicly update or revise any forward-looking statements either as a result of new information, future events or otherwise, except as required by applicable laws.
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SOURCE SQI Diagnostics Inc.