MetaStat Changes Up Board

Montclair, N.J.-based MetaStat Inc., a molecular diagnostic company focused on understanding and treating systemic metastasis, appointed Richard J. Berman and H. Philip Goodeve to its board of directors, effective Oct. 15. Berman and Goodeve replace Warren Lau and Patrick Mooney, M.D., both of whom have resigned from the board. In addition, Johan M. (Thijs) Spoor has resigned as chairman of the board while remaining a board member.

Berman will serve as lead independent director and chairman of the company’s nominating and corporate governance committee, as well as a member of the company’s compensation committee. His business career spans more than 35 years of venture capital, senior management and merger and acquisitions experience. In the past five years, he has served as a director and/or officer of more than a dozen public and private companies. From 2006 to 2011, he was chairman of National Investment Managers, a company with $12 billion in pension administration assets. He held previous positions at companies including NexMed Inc., Easy Link Int’l., Goldman Sachs and Bankers Trust Company. He obtained a BS and MBA  from Stern School of Business at New York University and U.S. and foreign law degrees from Boston College and The Hague Academy of International Law, respectively.

“Over the course of my career, which includes extensive experience within the life science sector, I have come to understand and appreciate the importance of innovation within oncology, including the creation of new and more informative diagnostic tests,” said Berman. “I believe that the tests developed to date by MetaStat represent the best kind of this type of innovation, and I look forward to helping guide the Company as we prepare for commercialization.”

Goodeve will serve as a member of the company’s compensation committee and audit committee. He has more than 25 years of experience in the global capital markets and has been a corporate finance consultant since 2009. He has led more than 100 change of control transactions, 10 IPOs and 15 turnarounds. Most recently, he was chief financial officer of FINCA International Inc., a microfinance banking group with operations in 21 countries. Among other roles including serving on numerous other public and private company boards, he was the global co-head of financial services investment banking for CIBC Capital Markets. He obtained a bachelor’s degree in commerce and accounting from Queen’s University and an MBA from Harvard Business School.

“The challenges for small publicly traded companies in healthcare include attracting the necessary funding while conveying the importance of new technologies,” said Goodeve. “At MetaStat, I intend to harness my experience in capital markets to help develop a strategy that will maximize the Company’s profile. I look forward to working closely with the MetaStat team as the company evolves to the next stages of growth and development.”

CEO Oscar L. Bronsther, M.D., welcomed Berman and Goodeve and thanked Lau and Mooney for their service.