Genesis Biomed boosts advisory board, starts CEO hunt

Sydney-based Genesis Biomedical (ASX:GBL) is moving to raise its profile in the Australian biomedical marketplace, after appointing two more senior researchers to its new strategic advisory committee. Genesis announced that it had completed a review of its operations, including current assets, management, commercial opportunities, and strategic path. Chairman Dr Robert Gilmour said Dr Stewart Washer and Dr William Randall would join him as founding members of the company's strategic advisory committee. Washer was formerly CEO of Auckland biotech Celentis, and earlier this year was appointed CEO of Perth-based biopharma Phylogica. Randall is a director of Genesis Biomedical, and of Medical Innovations, the NZ holding company for Californian biotech Omni Life Sciences. Genesis also announced that it had signed a heads of agreement with North American orthopaedic device and rehabilitation company Orthoco, which wants to trial Genesis' proprietary Cellgen technology. Cellgen stimulates growth of bone and soft tissue by replicating the bioelectrical signals normally produced during physical during physical exercise. The company said a formal licensing arrangement would be subject to a satisfactory trial of the technology with US orthopaedic practitioners The company also said it had begun a search for a new CEO. It has appointed a leading executive search consultant to help the search, and expects to name the successful candidate in about three months.