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MonoGen Announces Addition of James R. Boyle as Chief Financial Officer

MonoGen Announces Addition of James R. Boyle as Chief Financial Officer

MONTREAL, QUEBEC -- (MARKET WIRE) -- 10/31/07 -- MonoGen, Inc. ("Corporation")(TSX: MOG) announced today the addition of James R. Boyle to its senior management team.

James R. Boyle will join the company as Chief Financial Officer and Vice President of Finance and Administration effective November 12, 2007. Mr. Boyle, a Certified Public Accountant, has 19 years of accounting and finance experience. Mr. Boyle comes to MonoGen from Midway Games Inc. where for the last five years he has held various positions including Vice President of Finance, Chief Accounting Officer and Corporate Controller. For the seven years prior to that Mr. Boyle was with PricewaterhouseCoopers LLP where he held several management positions involving the delivery of financial reporting services and consulting projects for venture-backed, start-up and other high growth companies. Mr. Boyle earned his BA at the University of Pennsylvania and his MBA at the University of Chicago.

Mr. Boyle commented, "I am eager to begin working with such creative and successful business leaders, especially at this exciting time in MonoGen's development."

Additionally, Andre Denis' term as interim CFO will conclude on October 31, 2007. As previously disclosed, Mr. Denis had an annual contract that ran through October 31, 2007.

Ted S. Geiselman, MonoGen's President and CEO commented, "We are very pleased to have Jim choose to join our executive management team. It is another important step for our company as we prepare for the commercialization of our MonoPrep system. In addition, I would like to thank Andre for his past contributions to MonoGen and his willingness to fulfill the Interim CFO position while we pursued a permanent solution."

Forward-Looking Statements

This press release contains statements that are forward-looking in nature. Statements preceded by the words believe, expect, anticipate, plan, intend, continue, estimate, may, will, and similar expressions are forward-looking statements. Forward-looking statements are based on the Corporation's beliefs and assumptions based on information available at the time the assumption was made. Forward-looking statements relate to, among other things, anticipated financial performance, business prospects, strategies, regulatory developments, new services, market forces, commitments and technological developments, relating to the Corporation. By its nature, such forward-looking information is subject to various risks and uncertainties which could cause the Corporation's actual results and experience to differ materially from the anticipated results or other expectations expressed. Those risks and uncertainties include, but are not limited to MonoGen's ability to raise additional capital, MonoGen's ability to execute its business plan while obtaining and maintaining at all times its various regulatory approvals, the performance of its strategic partners in the commercialization of the Corporation's products in the marketplace and the competitive response from existing and potential competitors. Readers are cautioned not to place undue reliance on this forward-looking information, which is given as of the date it is expressed in this document, and the Corporation undertakes no obligation to update publicly or revise any forward looking information, whether as a result of new information, future events or otherwise.

Contacts:
MonoGen, Inc.
Investor Relations
847-758-4284
847-439-9392 (FAX)
[email protected]

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