TORONTO, ONTARIO--(Marketwired - May 28, 2013) - Biologix Hair Inc. (OTCBB:BLGX)(OTCQB:BLGX) announces the formation of three new corporate committees, in furtherance of the Company's preparation to make application for NYSE Market listing for its securities, as announced in a news release April 15, 2013 ("Biologix Hair Inc. Retains Akerman Senterfitt; Company to Pursue NYSE Market Listing"). The three committees, with links to each committee's charter posted at BiologixHair.com , are as follows:
Audit Committee: The purpose of the Audit Committee is to assist the Board with oversight of the integrity of the Company's financial statements, compliance with legal and regulatory requirements, the Company's independent registered auditors' qualifications and independence, and the performance of the Company's internal audit function and independent registered auditors.
Committee Members: David G. Csumrik (Chair), Mark Maybank and Ken Zadoorian.
Compensation Committee: The purpose of the Committee is to carry out the responsibilities delegated by the Board relating to the review and determination of executive compensation.
Committee Members: Wilhelm A. Keller (Chair), David G. Csumrik and Mark Maybank.
Nominating Committee: The purpose of the Nominating Committee is to carry out the responsibilities delegated by the Board relating to the Company's director nominations process and procedures and developing and maintaining the Company's corporate governance policies.
Committee Members: Ken Zadoorian (Chair), Wilhelm A. Keller and David G. Csumrik.
View the charters for all three committees: http://www.biologixhair.com/investors/corporate-governance
Biologix Chairman Ron Holland stated, "We are working diligently, in coordination with Akerman Senterfitt's guidance, to meet the qualitative requirements necessary to apply for NYSE Market listing. I appreciate the willingness of each of these Company directors to support this effort. The formation of these committees and publication of their charters, in keeping with the Biologix Hair Inc. Transparency in Action business model, is a significant step forward and we anticipate being able to make application by the middle of July 2013."
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 formula - Biologix Revive - 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 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 LLC, 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.
To learn more about Clinician Licensing opportunities, Click Here: http://www.biologixhair.com/licensing/ or call toll free +1 855.737.0333 or +1 647.344.5900.
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. 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.
