TORONTO, ONTARIO--(Marketwired - April 15, 2013) - Biologix Hair Inc. (OTCBB:BLGX) (OTCQB:BLGX) announces the Company has retained the legal services of Akerman Senterfitt, to advise the Company as it moves towards making application to obtain a NYSE Market listing for its securities.
Akerman Senterfitt ( http://www.akerman.com ), a leading US-based law firm with more than 550 lawyers and extensive securities industry experience, has provided Biologix with a detailed action plan outlining various administrative procedures and executive management changes necessary to implement prior to the submission of an application.
Ron Holland, Biologix Director and CEO, stated, "The potential for our patent-pending Biologix Revive hair formula - the essence of the Biologix Hair Therapy System™ - is truly global. We believe that by obtaining a listing on the NYSE Market exchange we will be in a better position to attract a broader population of potential investors and enhance our institutional financing capabilities.
"NYSE Markets was selected by us for listing the common equity shares of Biologix Hair Inc. after significant review of other competitive and internationally recognized listing options. We are working diligently towards successfully achieving a listing before the end of September 2013 and believe this to be a realistic timeline."
The NYSE has established quantitative and qualitative standards for prospective issuers.
Biologix and its advisors are focused on Standard 3, as listed in the Quantitative Standards table found on the NYSE website ( https://usequities.nyx.com/listings/list-with...-standards ).
In order to meet certain qualitative requirements pursuant to filing a NYSE Market listing application, Biologix intends, amongst other things, to:
- expand its Board of Directors to include at least four independent members
- establish an audit committee, an audit charter and institute procedural policies
- establish a compensation committee, a compensation charter and institute procedural policies
- establish a nominating committee, a nominating charter and institute procedural policies
- establish and make publicly available a Code of Ethics
- establish quorum requirements for shareholder meetings
Biologix intends to keep its shareholders notified as the Company works toward obtaining a NYSE Market listing.
About Biologix Hair Inc. and Biologix Hair Science Ltd.
Biologix Hair Inc. (Biologix Hair), together with its wholly owned biotechnology subsidiary, Biologix Hair Science Ltd. ™ (BHS), is focused on realizing the full market potential for its patent-pending hair loss prevention and regeneration treatment - the Biologix Hair Therapy System™ - and its demonstrated ability to prevent and reverse the effects of alopecia, which plagues hundreds of millions worldwide.
Between mid-2004 and mid-2012, more than 30,000 pre-clinical-trial treatments of Biologix Revive - the essence of the Biologix Hair Therapy System™ - were administered to 5,000-plus patients in South America suffering with varying degrees of alopecia, as well as people seeking preventive treatment. The participating treatment clinicians subjectively observed and reported that virtually 100% of preventive care clients continued to retain their healthy hair and an estimated 80-85% of the males and 90-plus% of the females treated for hair regeneration experienced significant regrowth of their own natural hair. And among alopecia areata patients, virtually total hair regrowth was observed in 100% of the cases. To date, no negative side effects have been reported.
BHS is currently focused on obtaining FDA approval for its breakthrough hair loss prevention and regeneration therapy and has initiated a research and development program with one of the world's leading medical research universities, the Beijing Institute of Technology (BIT). The R&D program, expected to take approximately twelve months to complete, is an important final step before formal clinical trials and the FDA approval process begins.
Additionally, on May 11, 2012, Venable LLP, the Washington-based law firm overseeing the worldwide IP and regulatory approval processes on behalf of BHS, filed a Patent Cooperation Treaty (PCT) application on behalf of BHS for Biologix Revive in Geneva, Switzerland. The PCT is an international treaty, administered by the World Intellectual Property Organization (WIPO), to which 144 countries have as of now contracted, including Canada and the United States.
Biologix management is determined to be in a ready position to capitalize on the high-margin sales potential of the Biologix Hair Therapy System™, if and when FDA and other major market approvals are forthcoming.
As BHS advances the regulatory approval process, Biologix Hair, together with wholly owned subsidiary companies operated by BHS, are rapidly developing a global distribution network of licensed clinicians and medical practitioners seeking to become Certified Biologix Hair Therapists™ and secure exclusive territorial purchasing and treatment rights for the Biologix Hair Therapy System™.
Biologix Hair has decided not to risk creating any potential regulatory conflicts by offering treatment outside the United States and other major high-product-margin markets until FDA approval has been granted. Therefore, the Biologix Hair Therapy System™ is not yet available other than to the 5,000+ patients who participated in the pre-clinical-trials conducted in South America.
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Disclaimer
This announcement is not an offer to sell any Biologix Hair Inc. ("Biologix") securities. Offers for any given security are made only through applicable offering circulars and related documents filed with the SEC pursuant to the Securities Act of 1933 or the Securities Exchange Act of 1934. Certain statements contained herein and subsequent oral statements made by and on behalf of Biologix may contain "forward-looking statements". Such forward-looking statements are identified by words such as "intends," "anticipates," "believes," "expects" and "hopes" and includes, without limitation, the development of treatment centers and approval from regulatory authorities as well as the ability for Biologix to obtain adequate financing to meet its business objectives. Forward-looking statements express our expectations or predictions of future events or results. They are not guarantees and are subject to many risks and uncertainties. There are a number of factors beyond our control that could cause actual events or results to be significantly different from those described in the forward-looking statements. Any or all of our forward-looking statements in this report or in any other public statements we make may turn out to be wrong. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise. In Canada, Europe and the United States, the Biologix treatment is not approved for use by Health Canada, EMA or the FDA. The company makes no representations that it will receive Health Canada, EMA or FDA approvals.
