TORONTO, ONTARIO--(Marketwired - May 1, 2013) - Biologix Hair Inc. (OTCBB:BLGX) (OTCQB:BLGX) has appointed Dave G. Csumrik to its Board of Directors. Mr. Csumrik will serve as an independent, non-executive Director and assist Biologix in developing its Audit, Compensation and Nominating Committees.
David Csumrik is the founder, sole shareholder and Chairman and CEO of Longview Associates, a group of companies domiciled in Barbados and the British Virgin Islands that provides management, administrative, accounting and facilities services to international business companies, trusts and foundations domiciled in these jurisdictions and other Caribbean countries. Through other companies in the group, Longview Associates operates an active investment and lending business.
In addition, Csumrik is a Director of Biologix Hair Science Ltd., the wholly owned Barbados subsidiary of Biologix Hair Inc. that holds the IP rights to Biologix Revive. Csumrik is Managing Director and significant shareholder in Linnaeus Inc., a Barbados-based plant biotechnology business licensed under the International Business Companies Act. He is also Managing Director of several International Business Companies located in Barbados and the British Virgin Islands and a Director of two banks located in Barbados licensed under the International Financial Services Act.
From 1988 until his relocation to Barbados in 1997, Csumrik practiced law, primarily in the fields of corporate finance and technology. He served as Chief Financial Officer of CSI Development Corp. (previously Consumers Software Inc.) from 1984-97, a software development and marketing company. When the company was sold to Microsoft Corp. in 1991 it entered the field of plant biotechnology. Csumrik previously provided management services in the areas of corporate finance and intellectual property licensing, held investments in several technology start-up companies and was treasurer with a small Canadian publicly held consumer products company.
David Csumrik earned a Bachelor of Arts in Economics and Accounting from the University of Toronto and a Bachelor of Laws degree from the University of British Columbia. He resides in Christ Church, Barbados.
Ron Holland, Biologix Director and CEO, stated, "As we advance towards making application to obtain a NYSE Market listing for our securities, Dave's independent financial experience and expertise is a welcome addition to our company's board of directors."
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.
