BioExx Specialty Proteins appoints John MacDonald as interim CEO
Toronto-based canola protein specialist BioExx has appointed John MacDonald as interim CEO following the departure of CEO Chris Schnarr.
MacDonald, who has been on the BioExx board since 2008, is MD of John MacDonald and Associates, a firm of accounting and tax professionals he founded in 1989.
BioExx - which has developed a patented solvent-free extraction process for canola proteins - recently hung a ‘for sale’ sign over its front door, although it is still talking to potential partners in Europe about a joint venture.
Former CEO Chris Schnarr, who resigned late last month, told analysts recently: “We’ve proven the scalability and efficacy of our technology… we’ve proven the products… and the protein market is large and growing…
“Capital is, in essence, the only barrier to bringing to market this new protein of great importance to the world.
“And yet, in this challenging financial environment, we have been unable to secure a strategic partner with the patience and risk tolerance to take the next steps to bring this novel product to market.”