RiboCor, Inc.

Ribocor’s mission is to utilize its proprietary technologies to develop ethical pharmaceuticals to better the lives of patients worldwide who are suffering from some of the most prevalent diseases and conditions affecting mankind, in nearly every case fulfilling needs that are unmet by any other therapy. These diseases exact a great toll, negatively impacting human well-being and productivity and requiring the significant utilization of finite, medical resources. Applications under way or planned include cardiovascular disease, recovery from surgery and other medical interventions, fibromyalgia, and other conditions affecting heart or skeletal muscle metabolism. Ribocor’s subsidiary, Viacell, LLC, is striving to be the world leader in developing novel products for the blood banking industry that allow stored red blood cells and platelets to function better following transfusions, thus significantly improving the outcomes of surgeries and other medical procedures for millions of patients annually.


 

BIOENERGY CHANGES ITS NAME TO RIBOCOR,
EXCLUSIVELY TARGETS PHARMACEUTICAL APPLICATIONS

MINNEAPOLIS, MN – April 3, 2012 – Minnesota-based Bioenergy, Inc. today announced that it has changed its name to RiboCor, Inc. (pronounced 'rye- bow-'kor), and moved its headquarters from Ham Lake, MN to Minneapolis, MN. These changes are a part of a series of strategic moves the company has implemented, reflecting its long-term plans to focus solely on medical applications of its proprietary technologies, including the development of pharmaceutical products to treat fibromyalgia and cardiovascular diseases, and biologic products for the enhancement of the functionality of red blood cells and platelets.

In furtherance of this strategy, in 2011, RiboCor licensed its Corvalen® business for health care practitioners to Atrium Innovations, Inc., a Quebec-based nutraceutical company, and divested its bulk ingredient business for dietary supplement and food and beverage use to Chengzhi Life Sciences Company, a China-based nutraceutical company.

RiboCor is currently conducting a double-blind, placebo controlled study in patients suffering from fibromyalgia under an Investigational New Drug application (IND) submitted to the Food and Drug Administration. Enrollment for this study is nearly complete.

Additional applications in areas of cardiovascular medicine to address significant unmet needs are planned. In parallel, RiboCor’s subsidiary, Viacell, LLC, is developing products to enhance the effectiveness and viability of red blood cells and platelets.

“We have achieved our long-term goal of becoming a pharmaceutical company, exclusively,” says Dr. Raj Khankari, RiboCor CEO. “At this stage, our resources are entirely focused on developing products that will yield the highest value to our shareholders.”

“We are excited about our development programs because they target several serious diseases for which treatment options are limited,” adds RiboCor Vice President of Product Development, Jeff Thompson. “We have made significant progress in fibromyalgia and plan to begin clinical work for our cardiovascular applications soon.”

RiboCor’s new global headquarters reside at 7077 Northland Circle North, Suite 100, Minneapolis, MN, 55428. For more information, visit RiboCor.com.

 

 


 

Executive Management

Raj Khankari, PhD., MBA

Chief Executive Officer

Raj joined RiboCor, Inc. in August, 2008 and was elected to the board of directors in September, 2008. Dr. Khankari is responsible for the overall direction and performance of the Company. Dr. Khankari was the General Manager and Vice-President of Worldwide Drug Technologies for CIMA LABS INC., a Cephalon company, where he was responsible for the performance and growth of the drug delivery business for Cephalon. The holder of 15 patents and author of several peer-reviewed journal articles, Dr. Khankari has more than 16 years of experience in developing and successfully introducing pharmaceutical products to the market. That experience includes numerous technology licensing transactions, domestic and international. While at RiboCor, Dr. Khankari successfully licensed the Corvalen product and divested the bulk ingredient Ribose business. Dr. Khankari holds Ph.D. (Pharmaceutics) and MBA degrees from the University of Minnesota, an MS degree (Physical Pharmacy) from the University of Cincinnati, and an M.Pharm. and a B.Pharm. from India.

Jeff Thompson

Vice President, Product Development

Jeff joined RiboCor, Inc. in October 2008 with 30 years of experience developing products in the biotechnical arena. Prior to joining RiboCor, Mr. Thompson worked in the areas of veterinary pharmaceuticals, in vitro diagnostics, pharmaceutical development (new chemical entities and life cycle management) and drug delivery technologies. In those roles, he worked for Sanofi Diagnostics Pasteur (currently Beckman Coulter), Sandoz (currently Novartis), Wyeth, and CIMA LABS INC. During that period, Mr. Thompson was responsible for the successful development, registration, and launch of over 25 pharmaceutical and diagnostic products. He received his M.Sc. degree in biochemistry from the University of Minnesota followed by an MBA from the Carlson School of Business.

Ross Boerhave

Vice President, Finance

Ross has been with the Company since its inception. From 1985 to 1995 he served as vice president of the Minnesota Cooperation Office (MCO), a non-profit corporation established to assist start-up companies. Prior to joining MCO, Mr. Boerhave spent three years as treasurer for The EntreSource Companies, a Minneapolis-based investment banking firm. Additionally, Mr. Boerhave has held various positions with the Resource Companies, Inc. and Bremer Service Company. He currently serves on the boards of directors of two privately held companies. Mr. Boerhave graduated from St. Cloud State University with a B.Sc. in Finance and honors in Liberal Studies.

Bruce Faulken

General Counsel and Secretary

Bruce has been with the Company since 2000. He has over 34 years in the practice of business law, with primary emphasis on small to medium sized companies, including healthcare companies. His expertise includes commercial transactions such as licensing and supply arrangements, debt and equity financing and regulatory matters. Mr. Faulken received his law degree from Yale Law School.


Board of Directors


John Broadbent

Chairman


John was a co-founder of Arrow International, Inc., a leading developer, manufacturer and world-wide marketer of a broad range of clinically advanced, disposable catheters and related products for critical and cardiac care. Mr. Broadbent was Chief Financial Officer, Vice-President — Finance and Treasurer of Arrow from its founding in 1975 until he retired in 1998. Mr. Broadbent served as a Director of Arrow until its sale to Teleflex in 2007. Mr. Broadbent earned a bachelor’s degree in chemical engineering from Rensselaer Polytechnic Institute and a MBA from Harvard University. He is an investor in several privately held companies in the healthcare field.

Howard Weintraub, PhD.


Howard is a principal of the Landfall Therapeutics Consulting Group, LLC, which provides strategic and technical consulting for pharmaceutical and medical device companies. Until his retirement in 2003, Dr. Weintraub was Vice President, R & D Corporate Staff for C.R. Bard. In this role, Dr. Weintraub was responsible for Bard’s business development activities. Dr. Weintraub received a B.Sc. in Pharmacy from Columbia before completing a Ph.D. in Biopharmaceutics from the State University of New York, Buffalo. He has over 30 years’ experience in pharmaceutical research and development and is chairman of Company’s compensation committee.

H.B. “Bud” Hayden


Bud is founder and former principal shareholder of Metro-quip, Inc., a Minnesota-based Midwest distributor of construction equipment. Mr. Hayden, a well-known Twin Cities entrepreneur, joined the Bioenergy board of directors in 1996. He served as the companys interim CEO from May 2007 through July 2008. Mr. Hayden earned a bachelors degree in mechanical engineering from the Sibley School of Mechanical Engineering, College of Engineering, Cornell University.

Michael Graves


Michael was President and Chief Executive Office of Paddock Laboratories, a developer, manufacturer and marketer of OTC and specialty brand and generic prescription products from 2007 to July 2011. Mr. Graves grew the sales of the company from $65 million to over $220 million prior to its acquisition by Perrigo for $540 million dollars. Prior to his position with Paddock Laboratories Mr. Graves was President of the Generic Division of Par Pharmaceutical, at which time, was the fifth largest marketer of generic products in the United States. Mr. Graves has also held executive positions at two of the country’s largest pharmaceutical distributors. Mr. Graves received a BS from the State University of New York, Buffalo and has over 18 years of diverse pharmaceutical experience.

David P. Singleton


David serves as senior vice president, treasurer and chief investment officer for Adventist Health System. Prior to joining AHS in 2008, he had 23 years of financial markets experience and worked as a Managing Director in SunTrust Bank’s Corporate and Investment Banking Division in charge of the Bank’s not-for-profit healthcare business. Singleton worked exclusively in the healthcare specialty practice beginning in February 2000. Previous management assignments included responsibility for Middle Market & Corporate Banking for SunTrust’s Eastern Virginia Region in Norfolk, Virginia, serving as the Senior Regional Credit Administrator for Eastern Virginia, and managing the Region’s Special Assets Division. Singleton received his BS from LSU, and completed graduate programs at The Banking School of the South at LSU and The College of William and Mary in Virginia where he received his MBA degree. He holds Series 7 and 63 FINRA certification and serves on the board of directors for Inflexion Partners, a venture capital fund in Orlando, Florida.

Danielle Johnson


Danielle currently holds the position of Chief Operating Officer at Florida Hospital Fish Memorial. Florida Hospital Fish Memorial is a private, not-for-profit hospital. The hospital is a 175-bed acute care facility providing adult care primarily to residents of southwest Volusia County, Florida. The hospital employs approximately 1000 staff and has 220 physician on staff. The major clinical areas of service include: Anatomic Pathology, Anesthesiology, Cardiology, Cardiac Diagnostic Catheterization, Cytology, Emergency Medicine, Gastroenterology, General Surgery, Geriatrics, Gynecology, Infectious Disease, Internal Medicine, Clinical Laboratory, Oncology, Ophthalmology, Orthopedic Surgery, Otolaryngology, Plastic Surgery, Podiatry, Diagnostic Radiology, Interventional Radiology and Nuclear Medicine, Radiation Oncology, Rehabilitation Medicine, Thoracic, Urology, Vascular Surgery and Wound Care.



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