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Response Biomedical Corp (3)
Symbol RBM
Shares Issued 7,946,187
Close 2014-09-15 C$ 1.30
Market Cap C$ 10,330,043
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Response appoints Holler interim CEO, Kinnaird COO

2014-09-16 17:10 ET - News Release

Mr. Lewis Shuster reports

RESPONSE BIOMEDICAL CORP. ANNOUNCES MANAGEMENT CHANGES

Response Biomedical Corp. has made a series of management changes. Jeffrey Purvin has resigned from the board of directors, and as the president and chief executive officer of the company, effective immediately. He will be succeeded as CEO by interim CEO, Dr. Anthony (Tony) Holler, MD, a long-time Response board member. In addition, Dr. Barbara Kinnaird, PhD, has been promoted from vice-president to chief operating officer.

"We thank Jeff Purvin for his efforts at Response over the past two years. Response has achieved significant progress in our China distribution transition, including the successful launch of our company's representative office in China," noted Lewis Shuster, chairman of Response.

Mr. Shuster continued: "We welcome Dr. Holler to his new role as interim CEO. He knows the company intimately from his long history as a director. We look forward to his continued support of the company's progress."

"We congratulate Dr. Barbara Kinnaird on her well-deserved promotion to COO. Response's gross margins have improved substantially under her leadership as our head of manufacturing, and research and development. Gross margin improved from negative 5 per cent in 2010 to positive 45 per cent in our last quarter, as her team has implemented numerous steps to improve quality, strengthen internal operations and boost productivity," added Dr. Holler.

Dr. Holler joined Response Biomedical's board of directors as a director in March, 2006. He was one of the original founders of ID Biomedical Corp., and has served as its director since 1991 and served as CEO from 1999 until 2006 when the company was acquired by GlaxoSmithKline. Dr. Holler has been the non-executive chairman of CRH Medical Corp. (formerly Medsurge Medical Products Corp.) since December, 2005. Dr. Holler served as an emergency physician at the university hospital of the University of British Columbia from 1981 until 1993. He received a bachelor of science in 1975 and a medical degree in 1979 from the University of British Columbia.

Dr. Kinnaird has over 20 years of research and business experience primarily in the fields of infectious diseases and point of care. Since joining Response Biomedical in August, 2004, Dr. Kinnaird has held several key management positions, including responsibilities for product development, quality, regulatory, manufacturing and sales. During Dr. Kinnaird's tenure in these positions, she has improved the product design control, operational efficiencies, cost reduction, gross margins and sales. Additionally, under her direction she managed to place the company in a compliance position that supports sales in several global jurisdictions such as China, Japan, the United States and Canada. Previously, Dr. Kinnaird consulted for the proteomics division of Incyte Genomics Inc. Dr. Kinnaird holds a PhD in microbiology and immunology from the University of British Columbia at the B.C. Children's Hospital in the department of pediatrics. She conducted her postdoctoral research at the Michael Smith Laboratories in genomics and gene expression profiling, in collaboration with the B.C. Genome Sciences Centre.

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