CLEVELAND, Nov. 6 /PRNewswire/ -- BioEnterprise Corporation today
announced the election by its Board of Directors of Matthew J. Jennings to the
position of President.  Mr. Jennings joined BioEnterprise on June 3, 2002, as
Senior Vice President with primary responsibilities for entrepreneur and
company recruitment, attraction, acceleration, and business development. He
assumes the duties and responsibilities of President from Bill R. Sanford, who
has been serving as Interim President at the request of the Board.  Mr.
Sanford will continue as Chairman of the BioEnterprise Board of Directors.
    Before joining BioEnterprise, Mr. Jennings was Corporate Vice President of
Allegiance Healthcare Corporation, a $6 billion manufacturer and distributor
of medical devices and supplies headquartered in McGaw Park, Illinois.
Allegiance was spun off from Baxter Healthcare Corporation in 1996 in a public
stock offering and was later acquired by Cardinal Health, a $40 billion
holding company based in Dublin, Ohio.
    At Allegiance, Mr. Jennings was responsible for starting, acquiring, and
managing a group of domestic and international independent businesses.  He
served as President of the independent affiliate companies through their
growth phase to profitability and integration into the core Allegiance
business.
    Prior to the spin-off of Allegiance, Mr. Jennings served in a variety of
marketing, product development, operating, and executive positions with Baxter
Healthcare's fully integrated surgical specialty device business.  He holds a
Bachelor of Science degree in marketing from Ohio's Miami University and an
MBA in business development and strategy from Michigan State University.
    Commenting on the election of Mr. Jennings to the position of President of
BioEnterprise, Mr. Sanford stated, "When the Board asked me about a year ago
to serve as Interim President, the primary short term objectives were to
recruit a senior management team, finalize and implement the operating plan,
and broaden the fundraising effort.  I am pleased with our progress in all
areas, but am especially enthusiastic about the quality and complementary
strengths of the senior executive group that has been assembled.  I am a big
believer that one of the strongest indicators of a company's probability of
success is the strength of management.  We have put together a team that can
compete with the best in the biosciences business.
    "Matt has performed very well since joining BioEnterprise from one of the
premier companies in the health care industry.  The Board is gratified by
Matt's acceptance of the challenge to lead the continuing growth and
development of the Corporation.  His private sector background and extensive
biomedical business development experience are important as the organization
expands our entrepreneur and company recruitment, selection, and
commercialization efforts."
    Mr. Jennings added, "BioEnterprise is well-positioned to accelerate
business development and economic growth.  I am grateful for the confidence
Bill and the Board of Directors have shown by giving me this opportunity.
With the community's ongoing support, I believe we will be successful in
expanding the biosciences business base in Northeast Ohio.  I am confident
that with the established research infrastructure, an improved entrepreneurial
environment, and capital to support new business formation, we will achieve
our objectives."
    BioEnterprise Corporation is a business formation and acceleration company
committed to being a leader in assisting biosciences companies to grow.
BioEnterprise provides mission-critical senior management and support to early
stage companies. Located in Cleveland, Ohio, its founders and equal partners
are Case Western Reserve University, The Cleveland Clinic Foundation, and
University Hospitals Health System, Inc.

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