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05 August 2003
Genesis Research and Development Corporation Limited (NZX/ASX: GEN) today announced the appointment of Dr Peter Lee, an expatriate New Zealander, as Chief Executive of AgriGenesis Biosciences Limited, its plant science subsidiary that was announced in April 2003. The appointment of Dr Lee is a key step in the progression of these plans. "Dr Lee has an impressive track record in management and commercialisation of research,” said Dr Jim Watson, Chief Executive of Genesis Research. “He also has an excellent network of contacts, having held senior positions in the North American forest and paper products industry for over 25 years.” Dr Lee completed a PhD in Chemical and Materials Engineering at Auckland University and has worked for leading US forest and paper products companies since then. Most recently he has been Vice President, Global Research and Development for International Paper Company, where he was responsible for research management, technology collaborations and commercialisation of new products. He has also held senior positions with Mead Paper Company and Weyerhaeuser Company. Dr Lee has had extensive experience in developing innovative products and production technologies. He has expertise in strategic planning, innovation and internal ventures, and securing capital investments as well as managing research and product development. He is Chair of Breakthrough Technologies for American Paper Industry and the US Department of Energy, a Board member of the Technical Association of Pulp and Paper, a Representative to the Research and Technology Executive Council and a member of the Editorial Board for Research Management Magazine. David Irving, Chairman of Genesis Research, said that Dr Lee will report directly to the Genesis Board. Dr Watson will continue as Chief Executive of Genesis Research and will also resume responsibility as Head of the Health Division following the completion of Dr Doug Williams’ term in New Zealand. The establishment of AgriGenesis is expected to be completed by September. About Genesis Founded in 1994, Genesis is a New Zealand based biotechnology company with 140 staff. It is committed to the building of a broad genomic platform for the development of innovative products in health and plant biotechnology. Genesis partners with industry leaders to develop products that have global market potential through the mining of its extensive microbe, plant and mammalian EST databases. The Health Division focuses on the immune system and has two programmes in human clinical development for the treatment of psoriasis and atopic dermatitis (eczema), with additional programmes for cancer and other indications in pre-clinical development. The patented BioStore solutions for storage of tissues and living cells are also in pre-clinical development. Collaborations are maintained with Amgen Inc. (NASDAQ: AMGN), Corixa Corporation (NASDAQ: CRXA), SR Pharma (LSE: SPA), Jurox Pty Ltd, and EvoGenix Pty Ltd. The Plant Sciences division is focusing on key cell signalling genes – novel hormones and transcription factors - to control commercial traits including growth rates and wood fibre quality in trees, nutritional content of forage grasses, flowering control and stress tolerance. It has research collaborations with ArborGen, LLC, Wrightson Ltd (NZSE: WRI), HortResearch, AgResearch and Landcare. Genesis is also undertaking significant unpartnered research programmes in novel plant hormones. The company has an extensive health and plant patent portfolio. For more information, please visit www.genesis.co.nz Media contacts: Dr James D Watson, Chief Executive, Genesis Research and Development Corporation Limited, +64 9 373 5600 Allan Botica, Botica Butler Raudon, +64 9 303 3862, +64 21 400 500, allanb@bca.co.nz |