Pacgen Announces New Appointments

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 15, 2015) - Pacgen Life Science Corporation (TSX VENTURE:PBS), focused on the commercialization of innovative life sciences products, announced today the appointments of Mr. Alan Savage to its Board of Directors, Ms. Christina Yip as President and Ms. Julie Rezler as Vice President, Corporate Development of Pacgen.

"We welcome Mr. Savage and Ms. Rezler and look forward to benefiting from their combined expertise, experience and leadership as we continue to build and grow our Company," said Mr. Chung-Yu Wang, Pacgen's Chairman and Chief Executive Officer. "In addition, we are very pleased to recognize Ms. Yip's contributions to date and her commitment to Pacgen. Given her deep understanding of our business direction and corporate finance expertise, we know she is the best candidate to spearhead our growth."

Mr. Savage has been appointed to the Board of Directors. Mr. Savage brings 50 years of experience in the capital markets in North America and offshore to Pacgen. Among other accomplishments, he was the founder of Imperial Metals Corporation and president and a director of that Company from 1978 to 1986. Under his administration as President of New Canamin Resources Ltd, Mr. Savage was credited with the discovery and commercialization of the Huckleberry copper deposit in British Columbia. Huckleberry continues to operate at 20,000 tonnes per day. Mr. Savage is currently a director and the principal shareholder of Epicore Bionetworks Ltd, and owns and operates Southern Gold Resources Ltd, a successful investment and venture capital enterprise.

Ms. Christina Yip, Chief Financial Officer of Pacgen, has been promoted to the role of President. Ms. Yip is a seasoned executive with extensive corporate finance experience including initial public offerings, financings, cross-border mergers and acquisitions, financial restructuring and corporate reorganizations. Prior to joining Pacgen, Ms. Yip served as Vice President, Finance and Administration for Cardiome Pharma Corp., a TSX and NASDAQ listed pharmaceutical company. Ms. Yip is the Managing Director of KeenVision Consulting Inc., a firm that provides financial advisory and management services to venture companies primarily in the Life Sciences sector.

Ms. Rezler has been appointed to the role of Vice President, Corporate Development. Ms. Rezler brings to Pacgen over 15 years of experience in the Life Sciences sector in the US and Canada for NASDAQ and TSX listed companies. She brings a track record in corporate development and strategy, specializing in customer needs assessment, product strategy and investor relations. Ms. Rezler was formerly with Tekmira Pharmaceuticals Corp., now Arbutus Biopharma Corp., a NASDAQ listed biopharmaceutical company. She also held senior positions with Inflazyme Pharmaceuticals Inc., Metabasis Therapeutics Inc., and Chugai Biopharmaceuticals Inc., part of Chugai Pharmaceutical Company Ltd., Japan.

About Pacgen

Pacgen is a life science technology company focused on the commercialization of innovative life sciences products. The Company has an exclusive worldwide license to develop and commercialize a novel antifungal called PAC-113. The Company has sublicensed its PAC-113 right to General Biologicals Corporation (GBC), who has recently launched non-prescription over-the-counter products containing PAC-113 in Taiwan. In accordance with the sublicense arrangement, Pacgen is entitled to royalties based on product sales by GBC. For additional information, please visit www.pacgenlife.com.

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Forward Looking Statements

Certain statements included in this press release may be considered forward-looking. Statements relating to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, market acceptance and future commitments constitute forward-looking statements. All forward-looking statements are based on Pacgen's current beliefs and expectations as well as assumptions relating to the successful completion of its clinical trials and pre-clinical studies, the time and process required to obtain regulatory approval for commercialization of its product, the ability of Pacgen to raise additional capital in future on favourable terms, the impact of competitive products and pricing in the market, new product development, and the successful and timely completion of corporate collaborations or licensing arrangements for its research programs. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, level of activity, performance or achievements to be materially different from those implied by such statements, and therefore these statements should not be read as guarantees of future performance or results. Such factors include, among others, our stage of development, lack of product revenues, additional capital requirements, risk associated with completion of clinical trials and obtaining regulatory approval, dependence on collaborative partners, and our ability to protect our intellectual property.

Wherever possible, words such as "anticipate", "believe", "expect", "may", "could", "will", "potential", "intend", "estimate", "should", "plan", "predict", "project" or the negative or other variations of such expressions reflect Pacgen's current beliefs and assumptions and are based on the information currently available to Pacgen. Certain risks and uncertainties, including those risk factors identified by Pacgen in its annual management's discussion and analysis dated July 28, 2015, may cause our actual results, level of activity, performance or achievements to differ materially from those implied by forward looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which are made only as of the date of this press release. Pacgen disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law. For all forward-looking statements, Pacgen claims the safe harbour for forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.