SOURCE: XOR-Labs Toronto Inc.

XOR-Labs Toronto Inc.

May 16, 2017 09:00 ET

Industry Veterans Joins XOR-Labs Toronto

TORONTO, ON--(Marketwired - May 16, 2017) - XOR-Labs Toronto Inc. (XOR), a spin-off from Toronto General Hospital at the University Health Network, the world's leading center for lung transplantation, and a MaRS Innovation company, announces today the addition of health care business veterans, Mr. Scott Langille as Chief Financial Officer and Mr. Joel Liederman as Senior Advisor, Planning and Pipeline, to the growing list of seasoned industry leaders that make up the XOR Business and Clinical Leadership team.

Mr. Scott Langille has defined his career by holding leadership positions in various pharmaceutical and life sciences organizations and by being very hands-on in their financial and business development . Scott was Chief Financial Officer of Tribute Pharmaceuticals listed on the Toronto Venture Stock Exchange and the OTC QB exchange in the US. Tribute was sold to Pozen in February 2016 for $160M USD which formed Aralez Pharmaceuticals. Prior to Tribute Pharmaceuticals, Scott was Chief Financial Officer of Virexx Medical Corp, a biotechnology company located in Alberta listed on the American Stock Exchange and the Toronto Stock Exchange. Past financial experience includes Director, Corporate Finance at Biovail Corporation, Director of Finance at Biovail Pharmaceuticals Canada, Biovail's sales and marketing division in Canada, as well as Vice President at Biovail Pharmaceuticals Inc., Biovail's sales and marketing division in the United States.

Mr. Joel Liederman is a respected and exceptionally accomplished senior executive with more than 40 years of advanced technology company leadership, domestic and international marketing expertise, and venture capital experience in high technology industries. As Senior Advisor, Planning and Pipeline, Joel will focus on managing various growth opportunities for XOR. Joel most recently served as Vice President, Physical Sciences at MaRS Innovation until retiring in December 2016. During his tenure at MaRS Innovation, his previous roles have included CEO of a next generation mammography machine company, XLV Diagnostics, and CEO of a solar materials company, QD Solar. For both of these corporations, Joel managed the transition from an academic organization where the company's core technology was developed, to the point where they secured their first round of venture capital investment funding.

"It is with great pleasure that I welcome Mr. Scott Langille and Mr. Joel Liederman to the XOR team, where they join Alan Coley and Paul Kirkconnell, experienced leaders in their own right, in QA/RA and Corporate Development, respectively. Messrs. Langille and Liederman have already begun to make a significant impact within our organization and will unquestionably continue to do so." said Dr. Tom Waddell, XOR's CEO. "It is an exciting time at XOR as we continue to expand the management team, and be at the forefront of developing organ perfusion technology that has the ability to richly change the lives of so many."

About XOR-Labs Toronto

XOR-Labs is a medical device company focused on leading advances within the fields of organ transplantation and diseased organ treatment. XOR's ultimate goal is to become the worldwide leader in advanced multi-organ therapies, a market valued at $3-$5 billion.

About MaRS Innovation

MaRS Innovation is the commercialization agent for 15 of Ontario's leading academic institutions, including the University of Toronto and its ten research hospitals, as well as Ryerson University and York University. Collectively, this group invests almost $1.5 billion annually in scientific research. MaRS Innovation has created and supported over 50 innovative and game-changing start-up companies based on the world-class science from these members -- start-ups that, through MaRS Innovation's strategic international networks, have attracted local and global industry partnerships and investments. Supported by the Government of Canada through the Networks of Centres of Excellence; by the Government of Ontario through the Ontario Centres of Excellence, Ministry of Research, Innovation and Science; and by its members, MaRS Innovation maximizes the commercial and social return on its member institutions' research assets, thereby converting great science into commercially viable products and services.

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