TEI Biosciences Chairman, President and CEO Yiannis Monovoukas Named Winner of the Ernst & Young Entrepreneur Of The Year® 2011 New England Award

BOSTON, June 20, 2011 /PRNewswire/ -- TEI Biosciences Inc. today announced that Yiannis Monovoukas, Ph.D., M.B.A., its Chairman, President and CEO, is the winner of the prestigious Ernst & Young Entrepreneur Of The Year® 2011 New England Award. The program recognizes entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their businesses and communities.  Dr. Monovoukas was presented with the Ernst & Young Entrepreneur Of The Year® New England 2011 award at the Awards Gala.

In accepting his award, Dr. Monovoukas said, "I feel blessed that my passion for building science-based ventures has resulted in a successful company making innovative medical products that neuro-, general-, trauma-, plastic-, vascular- and orthopedic surgeons use routinely in operating rooms around the world, helping thousands of patients each year. It's a fantastic feeling!"

The Ernst & Young Entrepreneur Of The Year® Program celebrates its 25th anniversary this year and recognizes business leaders in more than 50 countries throughout the world.

About TEI Biosciences Inc.

A Boston-based, privately-held, leading biomedical company, TEI Biosciences has applied its expertise in regenerative medicine to develop and commercialize novel biologic devices for a broad spectrum of soft tissue repair and regeneration applications – from dura, tendon and hernia repair to plastic and reconstructive surgery and wound healing.

TEI sells its products directly and through partnerships with some of the world's major medical device companies.  TEI's marketed products include:

• SurgiMend® and SurgiMend® PRS for plastic & reconstructive surgery, soft tissue reconstruction, hernia repair and muscle flap reinforcement
• PriMatrix™ and PriMatrix™ Ag Antimicrobial for skin wound management
• Durepair® for cranial dura repair (marketed by Medtronic)
• Xenform™ for pelvic floor reconstruction (marketed by Boston Scientific)
• TissueMend® for tendon augmentation (marketed by Stryker)

About Ernst & Young Entrepreneur Of The Year®

Ernst & Young Entrepreneur Of The Year® is the world's most prestigious business award for entrepreneurs. The award encourages entrepreneurial activity among those with potential, and recognizes the contribution of people who inspire others with their vision, leadership and achievement. The program celebrates those who are building and leading successful, growing, and dynamic businesses.

For more information visit us at www.teibio.com

SOURCE TEI Biosciences Inc.