BioSyntech, Inc. (Biosyntech) announced the resignation of Amine Selmani from its board of directors, effective January 23, 2009. Selmani is the founder of BioSyntech and was its chief executive officer from 1995 to 2004 and subsequently chairman of the board of directors until 2006. He has also managed BioSyntech's broad intellectual property portfolio since the company's inception. Selmani will remain available as an advisor to the board of directors.
“On behalf of the Board of Directors, I would like to thank Dr. Selmani for his great dedication and contribution to BioSyntech throughout the last 14 years. Dr. Selmani is a pioneer in regenerative medicine and through his ingenuity and resourcefulness has advanced BioSyntech from academic start-up to a prominent Canadian public company that is now in the final development phase for its lead product,- BST-CarGel(R), a highly innovative medical device that has the potential to significantly improve the way damaged cartilage is treated,” said Michel Lagueux, chairman of the board of directors.
“It has been my great privilege to work with Michel Lagueux and the new members of the Board of Directors to ensure that BioSyntech has a clear path forward. With the Company firmly on the right track, I feel confident that this is the appropriate time to tenure my resignation from the Board to pursue other opportunities,” said Selmani. “BioSyntech is concluding enrolment for the largest randomized clinical trial for cartilage repair ever performed in North America. We have had to overcome many challenges along the way and I am very proud that in just a few weeks our long awaited milestone of enrolment completion for this important trial will be achieved.”
In addition to his direct roles with BioSyntech, Selmani also helped create and strengthen the scientific relationship between BioSyntech and Ecole Polytechnique of Montreal. He played a key role in the establishment of an industrial research chair for cartilage repair, funded jointly by BioSyntech, NSERC (Natural Sciences and Engineering Research Council of Canada) and Ecole Polytechnique. The group of approximately 30 highly skilled researchers, under the direction of Michael Buschmann, was awarded more than $30 million in further funding for infrastructure and state-of-the-art equipment for cartilage regeneration research.