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 News Release - October 13, 2010

BioScale Appoints Peter H. Lewis as Vice President of Finance and Administration

Industry Veteran, Peter Lewis, Joins Executive Management Team as BioScale Continues to Drive Commercial Launch and Manufacturing Expansion

CAMBRIDGE, Mass.--(Healthcare Sales & Marketing Network)-- BioScale Inc., an innovative life science company that develops, manufactures and promotes novel analytical tools enabling advancements in protein research, today announced that Peter H. Lewis has joined the Company as the Vice President of Finance and Administration. Mr. Lewis will be responsible for the finance, accounting, IT, human resources and facilities functions. He also becomes part of the Company’s executive management team which directs all aspects of BioScale’s strategy, planning and operations.

“We are pleased to welcome Peter to BioScale. Peter commands a broad base of financial expertise that includes strategic analysis, fundraising, financial infrastructure build-out and reporting especially in small, growing companies,” commented Mark Lundstrom, BioScale’s Chief Executive Officer. “Peter’s experience and acumen will be tremendous assets as BioScale ramps up its commercial and manufacturing operations for the ViBE™ protein analysis platform. His background demonstrates his ability to successfully implement business processes and infrastructure vital to support commercial operations, manufacturing, development as well as strict financial controls and compliance with regulatory agencies.”

“I am excited to become part of an emerging company like BioScale at this significant point in its growth,” said Peter Lewis. “I look forward to working with management and staff as we build the financial infrastructure that will enable us to provide the most efficient, high quality protein analysis instrumentation for critical life science and biopharmaceutical applications.”

Mr. Lewis brings more than 20 years of progressive experience in accounting, financial management and corporate process development from within the life science tools and scientific instrumentation industries. He was most recently Chief Financial Officer at First Boston Pharma, an over-the-counter pharmaceuticals contract manufacturer where he led initiatives resulting in more than $1M in operational improvements and closed a $7M credit facility. Prior to First Boston, Mr. Lewis served as VP of Finance and Administration at Affymetrix, a high-growth genomic instrumentation company with domestic and international operations where he focused on global manufacturing, supply chain and distribution finance, managed the successful move and consolidation of GMP-compliant manufacturing facilities and implemented standardized management reporting and a world-wide ERP system.

As CFO of Genetic Microsystems, he negotiated a $300M merger with Affymetrix creating a 7 - 30X return for investors. Mr. Lewis also held senior level positions at Instron Corporation and Perkin-Elmer. Peter received both his BS in Mechanical and Materials Engineering and MBA from the University of Connecticut.

About BioScale

BioScale is a life science company that develops, manufactures and promotes a proprietary protein analysis technology to accelerate the discovery, development and production of biological and pharmaceutical products. BioScale’s innovative ViBE platform enables highly-sensitive detection and quantitation of proteins in complex samples used in pre-clinical and clinical research, bioprocess, patient point-of-care and personalized medicine applications. Founded in 2002, the Company is headquartered in Cambridge, MA. For more information, visit www.bioscale.com.

Forward Looking Statements

The foregoing release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding BioScale’s future expectations, beliefs, intentions, goals, strategies, plans or prospects regarding the future, including the Company's ability to obtain financing, the development and commercialization of ViBE systems, the prospects of the Company's protein analytics platform, the Company's strategies to develop and commercialize protein analytics systems and the breadth of the Company's technologies and intellectual property portfolio. Forward-looking statements can be identified by terminology such as "anticipate," "believe," "could," "could increase the likelihood," "estimate," "expect," "intend," "is planned," "may," "should," "will," "will enable," "would be expected," "look forward," "may provide," "would" or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve known and unknown risks, uncertainties and other factors. As a result of such risks, uncertainties and factors, the Company's actual results may differ materially from any future results, performance or achievements discussed in or implied by the forward-looking statements contained herein. BioScale is providing the information in this press release as of this date and assumes no obligations to update the information in this press release.

BioScale logo, and ViBE are trademarks of BioScale, Inc.


Source: BioScale

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