Evolva proposes two leading biotech and food ingredient executives to join its Board
The Board term of Ms. Ingelise Saunders expires at this year's AGM and she is not up for re-election. Evolva's Board proposes the shareholders to elect Dr. Stuart Strathdee and Dr. Ganesh Kishore to the Board. Both are current members of the Board of Directors of Abunda Nutrition, Inc. and their election will be subject to the closing of the acquisition of Abunda, foreseen in late Q2 or early Q3, 2011.
Messrs. Strathdee and Kishore bring a wealth of experience from major companies in the industrial biotech and food ingredient industries, and they have profound scientific and commercial expertise particularly with sweeteners, as well as in agricultural biotech.
Dr. Ganesh Kishore has previously been Chief Biotechnology Officer of both Monsanto and DuPont. He was involved in the development of Aspartame (the active ingredient of several major sweetener products) as well as a key agricultural crop protection technology. Dr. Kishore is currently CEO of MLSCF, one of the core shareholders of Abunda Nutrition, Inc.
Dr. Stuart Strathdee has held a number of senior management positions at Tate & Lyle, including Group Treasurer, Managing Director of several group units and Corporate Development Director. He was closely involved in the development of Tate & Lyle's sucralose ingredient business as well as in various acquisitions and other growth initiatives. Dr. Strathdee is an independent director of Abunda, not representing any of Abunda's shareholders.
Neil Goldsmith, CEO and Managing Director of Evolva commented, "Stuart Strathdee and Ganesh Kishore are both pioneers in their fields and have impressive networks in relevant industries. We're thrilled that they are prepared to join our Board, making their expertise available to Evolva."
Apart from the Board elections and the standard agenda items, Evolva will propose the shareholders to increase both the authorised and conditional capital available in the company's Articles of Association. These increases will allow the company to issue new shares for the intended acquisition of Abunda, for the exercise of employee options as well as for potential future financing purposes.
Evolva Holding SA
Evolva is an international, innovative synthetic biology company with a world-class research platform. Evolva strives to improve people's lives by applying its technology and other resources to the discovery and development of new products and processes that benefit the health, well-being and financial economy of patients, consumers and partner companies around the world.
Evolva uses biosynthetic and evolutionary technologies to artificially create and optimise small molecule compounds and their production routes. Our approach differs from that of the mainstream in the pharmaceutical and chemical industries. We have discovery partnerships ongoing both in Pharma and in the area of Consumer Health, Nutrition and Food Chain.Inaddition we have a pipeline of promising compounds aimed at infectious and cardio-renal indications. For more information see www.evolva.com.