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SOURCE Bedrocan Canada Inc.
Health care business leaders strengthen focus of licensed medicinal cannabis producer ahead of August 25th public listing
TORONTO, Aug. 21, 2014 /CNW/ - Bedrocan Cannabis Corp., previously Bedrocan Canada Inc. ("Bedrocan") has appointed three independent members to its Board of Directors, enhancing executive oversight and strengthening the health care experience of the company, a leading licensed producer of medicinal cannabis in Canada. Internationally, Bedrocan has 13 years' experience in producing and supplying government-regulated pharmaceutical-grade cannabis to patients in seven countries, including Canada.
As previously announced in a press release dated August 20, 2014, Bedrocan is expected to begin trading on the TSX-V beginning August 25, 2014 under the symbol "BED".
Bedrocan's new independent directors are Mr. Barry Fishman, former CEO of Teva Canada; Mr. Allan Mandelzys, former CEO and senior executive of publicly-traded biotechnology companies; and Mr. Roderick Budd, former life sciences practice leader at Ernst & Young. The new appointees join existing Bedrocan directors Mr. Marc Wayne, President and CEO of Bedrocan, and Chairman of the Board Mr. Murray Goldman, the founder and Chairman of the Goldman Group.
Mr. Fishman will be a Board Member and has agreed to chair the Compensation Committee of Bedrocan's Board. Until the end of 2013, Mr. Fishman was President and CEO of Teva Canada, a leading pharmaceutical company generating up to $1 billion in revenue in Canada. Previously, as CEO of Taro Canada, a specialty pharmaceutical company, Mr. Fishman tripled sales, strengthened talent and improved profitability. Prior to Taro, Mr. Fishman spent 17 years with Eli Lilly Canada where he advanced through several cross-functional leadership roles, including Vice President of Marketing.
"We are seeing the emergence of a new medicinal cannabis industry in Canada, and I am excited to join the Bedrocan team as the company seeks to set the highest standards in this industry for professionalism, product quality, research and patient care," said Mr. Fishman.
Mr. Budd will be a Board Member and has agreed to chair the Audit Committee of Bedrocan's Board. Mr. Budd was a partner at Ernst & Young for 25 years until his retirement in 2010. For the last eight years he was the Canadian firm's life sciences practice leader. Mr. Budd has over 36 years of experience in public accounting serving emerging and growth companies with a focus on those in the life sciences sector. He has experience with public companies in both Canada and the United States, having assisted in more than a dozen IPOs and numerous secondary issues in the past 15 years. He currently holds board positions in several other companies and industry leading organizations.
Mr. Mandelzys will be a Board Member at Bedrocan. He is an accomplished biotechnology executive with twenty years of experience, most recently as CEO of a clinical stage, publicly-traded pharmaceutical company. Mr. Mandelzys is a business development professional with more than fifteen years of successfully leading negotiations and executing strategic partnerships, which include product in-licensing and out-licensing agreements, merger and acquisition transactions, research alliances and master service agreements. He has a proven track record in raising capital (more than $200 million) and communicating effectively with investors, media and external stakeholders.
"With their deep experience in the pharmaceutical, biotechnology and life sciences sectors, the addition of Barry, Rod and Allan to Bedrocan's Board of Directors will continue to build our strength as a leading health care company focused on product quality, research, and patient care," said Mr. Wayne.
Bedrocan is the global leader in medicinal cannabis research and product innovation and has been producing and supplying government-regulated medicinal cannabis for 13 years. Bedrocan's strains of pharmaceutical-grade cannabis are used by patients in seven countries, including Canada. The company is committed to clinical research with ISO 9001-rated production processes and product development, on an international scale. Bedrocan is one of only two companies currently supplying pharmaceutical-grade medicinal cannabis in Canada.
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