HONG KONG--(BUSINESS WIRE)--Biofield Corp. (OTC: BZEC) reported today that world renown biotech expert and entrepreneur, Dr. Dominic Lam, has accepted Biofield Board’s invitation to become its new chairman. Dr. Lam takes over for James MacKay, who will remain on the Board.
Lam and MacKay also announced an agreement to vend back into Biofield the master license agreement between Biofield and the MacKay Group (MKG). Lawyers are drawing up the paperwork for this arms-length transaction as well as for the Chinese JV’s purchase of Biofield devices and sensors directly from Biofield.
Dr. Lam’s achievements have been recognized at the highest levels in China and the United States. Dr. Lam has received the Presidential Medal of Merit from President Bush who also appointed him to a Presidential Committee in 1989. Dr. Lam obtained his bachelor, masters and doctorate degrees by the age of 22, studied under two Nobel Laureates at Harvard Medical School before joining the Harvard Faculty at Harvard and subsequently at Texas Medical Center in Houston. In 1985, he started the first biotech company in Texas, took it public in 1988 and was widely recognized as the Father of Texas Biotechnology. In 1989, he was invited to establish the Hong Kong Institute of Biotechnology to help Hong Kong’s high tech development. In 1993, Dr. Lam founded LifeTech Group to develop, manufacture and market the best Eastern and Western healthcare products. Dr. Lam is also a well-known philanthropist who first brought “Project Orbis”, the flying eye hospital, to China in 1982. To pursue his charitable mission, Dr. Lam moved back to Hong Kong in 1999 and founded the World Eye Organization to prevent and treat eye diseases for the poor, initially in China and subsequently around the world. Dr. Lam has authored over 100 research articles, some of them in prestigious journals such as Nature, 6 books published by MIT and holds over 17 U.S. and international patents. In 2001, one of Dr. Lam’s patents entitled “Edible Vaccines” was named by MIT as one of “five patents that will transform business and technology” and by Time Magazine as one of ten most important developments in the 21st century. Dr. Lam has received numerous honors and awards, including honorary professor at the Chinese Academy of Science (1985), the US High Tech Entrepreneur of the Year (1989) and Asian Society Man of the Year (1991). Biofield will post a more detailed CV of Dr. Lam (www.Dominiclam.net) on its website.
James MacKay stated: “With the China JVs and the completion of the reverse split and uplist in the U.S., the time is right to hand over the helm of Biofield to Dr. Lam. Given his world recognized expertise, credentials, and experience and the medical and other resources he can muster worldwide, I cannot think of anyone more qualified to lead Biofield, maximize the Company’s value, and bring this critical technology to the world. I am also stepping down to focus on the MacKay Group, which is working on going public itself in Hong Kong, and which will open comprehensive health centers, hospitals, and wellness villages throughout China, which will provide Biofield’s as well as TPID’s and VersaCard’s technology, among other non-cancer-related healthcare technology and services, for China.”
“I am pleased to be the new Chairman of Biofield because I firmly believe that the proprietary BDS technology has the potential to be the most important medical diagnostic system, especially for early cancer detection, since the invention of HIV diagnostic tests over twenty years ago.” said Dr. Lam.
About Biofield Corp.:
Biofield Corp. is a development-stage medical technology company that has developed a device to assist in detecting breast cancer in a non-invasive procedure, the Biofield Diagnostic System (BDS). BDS employs single-use sensors designed by Biofield and a measurement device to detect and analyze changes associated with the development of epithelial cancers, such as breast cancer. For more information go to: www.biofield.com.
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