Warnex Inc.

Warnex Inc.

June 30, 2011 08:00 ET

Warnex Announces the Appointment of New Directors

LAVAL, QUEBEC--(Marketwire - June 30, 2011) - Warnex Inc. (TSX:WNX) is pleased to announce that at its Annual General Meeting of Shareholders, the following new directors were elected: Dr. Patrice Hugo, Mr. Michael Singer, Dr. Marc LeBel and Mr. Joseph Walewicz. In addition, Mr. Richard Laferrière, Mr. Mark Busgang, Mr. Louis Lacasse, Mr. Mattie Chinks and Mr. Michel Lassonde were re-elected. Dr. Jacques Gagné, Mr. Gilles Gagnon, the Honourable Baljit S. Chadha and Dr. Richard Lacombe were not up for re-election.

"It is with great pleasure that we welcome these new members to Warnex's Board of Directors. With each of their unique backgrounds in the pharmaceutical and contract research industries, they will provide valuable insight and significant input to our Company," said Mark Busgang, President and CEO of Warnex. "We would also like to thank the Board members who are leaving us for their support and contribution over the years."

Dr. Patrice Hugo has more than 20 years of experience in biomarkers including in the fields of discovery and validation as well as in diagnostic product development. Since 2009, he has been Chief Scientific Officer of Clearstone Central Laboratories, following the spin-off of a business unit of MDS Pharma Services to Global Central Laboratories where he held the position of Vice-President Scientific Affairs since 2008. From 2003 to 2008, Dr. Hugo held various senior roles at Caprion from Executive Director to Executive Vice President Research and Development. From 1997 to 2003, Dr. Hugo worked at PROCREA BioSciences, first as Vice President of Scientific Research and then as Chief Scientific Officer. From 1994 to 1997, he worked as a Principal Investigator at the Institut de Recherches Cliniques de Montréal. Dr. Hugo holds a PhD in Experimental Medicine from McGill University.

Mr. Michael Singer has been Chief Financial Officer and Corporate Secretary of Thallion Pharmaceuticals Inc. since March 2007. Prior to Thallion, he served as Vice President, Chief Financial Officer and Corporate Secretary of Caprion Pharmaceuticals Inc. from February 2000 until its merger with Ecopia BioSciences Inc. to form Thallion in 2007.

Dr. Marc LeBel is currently Director of Acasti Pharma Inc., a member of the Advisory Committee of JustBio, Executive Producer of the film "Ruby McCollum", and Associate Producer of the 3D animation movie "Sarila". He is the founder of Anapharm Inc. and served as the company's President from 1994 to 2007. Dr. LeBel was Executive Vice-President of Pharmanet, from 2005 to 2007, following its acquisition of Anapharm.

Mr. Joseph Walewicz was Vice-President, Special Projects and COO of Paladin Biosciences between 2009 and 2011. Between 2005 and 2008, Mr. Walewicz was Executive Director, Institutional Equity Research at CIBC World Markets. Mr. Walewicz holds a Master of Business Administration, Finance, a Bachelor of Science, Biochemistry, and a Bachelor of Arts, Economics. Mr. Walewicz is also a CFA (Chartered Financial Analyst) charter holder.

About Warnex

Warnex (www.warnex.ca) is a life sciences company devoted to protecting public health by providing laboratory services to the pharmaceutical and healthcare sectors. Warnex Analytical Services provides pharmaceutical and biotechnology companies with a variety of quality control services, including chemistry, chromatography, microbiology, method development and validation, and stability studies. Warnex Bioanalytical Services specializes in bioequivalence and bioavailability studies for clinical trials. Warnex Medical Laboratories provides specialized testing for the healthcare industry as well as pharmaceutical and central laboratory services. Warnex PRO-DNA Services offers DNA identification tests for paternity, maternity and other family relationships, as well as for immigration and forensic testing purposes. Warnex has three facilities located in Laval and Blainville, Quebec, and Thunder Bay, Ontario.


Certain statements contained in this news release are forward-looking and are subject to numerous risks and uncertainties, known and unknown. For information identifying known risks and uncertainties, relating to financial resources, liquidity risk, key customers and business partners, credit risk, foreign currency risk, government regulations, laboratory facilities, volatility of share price, employees, suppliers, and other important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please refer to the heading Risks and Uncertainties in Warnex's most recent Management's Discussion and Analysis, which can be found at www.sedar.com. Consequently, actual results may differ materially from the anticipated results expressed in these forward-looking statements.

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