BOSTON--(BUSINESS WIRE)--MetaStat, Inc. (OTCQB:MTST), a molecular diagnostic company focused on understanding and treating systemic metastasis, appointed Richard J. Berman and H. Philip Goodeve to its Board of Directors, effective October 15. Mr. Berman and Mr. Goodeve replace Warren Lau and Dr. Patrick Mooney, both of whom have resigned from the Board. In addition, Johan M. (Thijs) Spoor has resigned as Chairman of the Board while remaining a Board member.
Mr. Berman will serve as lead independent director and Chairman of the Company’s Nominating and Corporate Governance Committee, as well as a member of the Company’s Compensation Committee. His business career spans more than 35 years of venture capital, senior management and merger and acquisitions experience. In the past five years, he has served as a director and/or officer of more than a dozen public and private companies. From 2006 to 2011, he was Chairman of National Investment Managers, a company with $12 billion in pension administration assets. He held previous positions at companies including NexMed Inc., Easy Link Int’l., Goldman Sachs and Bankers Trust Company. He obtained bachelor of science and M.B.A. degrees from Stern School of Business at New York University and U.S. and foreign law degrees from Boston College and The Hague Academy of International Law, respectively.
Mr. Berman said, “Over the course of my career, which includes extensive experience within the life science sector, I have come to understand and appreciate the importance of innovation within oncology, including the creation of new and more informative diagnostic tests. I believe that the tests developed to date by MetaStat represent the best kind of this type of innovation, and I look forward to helping guide the Company as we prepare for commercialization.”
Mr. Goodeve will serve as a member of the Company’s Compensation Committee and Audit Committee. He has more than 25 years of experience in the global capital markets and has been a corporate finance consultant since 2009. He has led more than 100 change of control transactions, 10 IPOs and 15 turnarounds. Most recently, he was Chief Financial Officer of FINCA International Inc., one of the largest microfinance banking groups in the world, with operations in 21 countries. Among other roles including serving on numerous other public and private company boards, he was the Global Co-Head of Financial Services Investment Banking for CIBC Capital Markets. He obtained a bachelor and commerce, accounting degree from Queen’s University and an M.B.A. from Harvard Business School.
Mr. Goodeve said, “The challenges for small publicly traded companies in healthcare include attracting the necessary funding while conveying the importance of new technologies. At MetaStat, I intend to harness my experience in capital markets to help develop a strategy that will maximize the Company’s profile. I look forward to working closely with the MetaStat team as the company evolves to the next stages of growth and development.”
Oscar L. Bronsther, M.D., Chief Executive Officer of MetaStat, said, “Richard Berman and Philip Goodeve together bring a tremendous amount of business and industry experience to MetaStat, and we are honored to have them serve on our Board. Richard’s extensive knowledge of our industry, his role in the governance of publicly held companies and his directorships in other life science companies qualify him to serve as our director. Philip’s experience in the global capital markets provides a valuable perspective to our Board on strategy, competitive industry dynamics and capital markets transactions. Finally, I would like to thank Warren Lau, who founded our company and recognized the importance of our core technology, and Patrick Mooney for their years of service to MetaStat and we wish them the best in their future endeavors.”
About MetaStat, Inc.
MetaStat, Inc (MTST) is a molecular diagnostic company that develops and commercializes diagnostic tests for early and reliable prediction of systemic metastasis, the process by which cancer spreads from a primary tumor through the bloodstream to other areas of the body. MetaStat is focused on breast, prostate, lung and colorectal cancers, where systemic metastasis is responsible for approximately 90% of all deaths. The Company’s function-based diagnostic platform technology is based on the identification and understanding of the pivotal role of the mena protein and its isoforms, a common pathway for the development of systemic metastatic disease in all epithelial-based solid tumors. Both the MetaSite Breast™ and MenaCalc™ assays are designed to accurately stratify patients based on their individual risk of metastasis and to provide physicians with clinically actionable information to better "customize" cancer treatment. MetaStat’s testing platform improves treatment planning decisions by positively identifying patients with a high-risk of metastasis who need aggressive therapy and by sparing patients with a low-risk of metastasis from the harmful side effects and expense of chemotherapy. The company is based in Boston.
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements as a result of various factors and other risks, including those set forth in the Company's Form 10-K filed with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and the company undertakes no obligation to update such statements.