Wilmington, DE and Ashdod, Israel , Oct. 09, 2018 (GLOBE NEWSWIRE) -- Integrity Applications, Inc. (www.integrity-app.com) (OTCQB: IGAP), innovator of GlucoTrack®, a non-invasive device for measuring glucose levels in people with type 2 diabetes and pre-diabetes, today announced that John Graham has resigned as chief executive officer and chairman for personal reasons, effective October 31st, 2018. The company has appointed David Podwalski, previously the company’s chief commercial officer, to president and chief operations officer, effective October 9th, and director, effective October 31st. Mr. Graham will continue to assist management to ensure a smooth transition with ongoing projects and relationships.
Mr. Podwalski commented, “I have worked side by side with John Graham for the better part of the last 20 years and together we have launched life changing diabetic solutions. We are enormously grateful for John’s contribution to the company for the last year and half and wish him well. I am excited about my new role and for the opportunities that lie ahead of us. I look forward to making GlucoTrack a household name in diabetes care.”
Mr. Podwalski is a seasoned pharmaceutical and life sciences executive with more than 20 years of experience in global commercial leadership. Prior to his joining the Company in 2017, he served at Ernst & Young as Senior Consultant and Subject Matter Expert, Life Sciences, where he assisted major pharmaceutical, diagnostic, and medical device companies in developing go-to-market commercial strategies, product launch roadmaps, and commercial operations.
Prior to Ernst & Young, Mr. Podwalski held senior commercial roles at Aventis Pharmaceuticals, where he designed and established sales and marketing strategies in the US, Europe, Asia and Latin America. While at Aventis, Mr. Podwalski provided global commercial leadership in the development of its worldwide insulin business. Mr. Podwalski successfully launched Lantus in the United States, Germany, Japan and multiple other countries. Lantus, an innovative basal insulin, achieved peak sales of more than $9 billion, and has cumulative sales of more than $65 billion. Earlier in his career, Mr. Podwalski served in various capacities at Hoechst Marion Roussel Inc., including senior commercial leadership positions in both diabetic pharmaceutical and consumer healthcare products.
GlucoTrack® is a truly non-invasive monitoring device that rapidly measures and displays an individual’s glucose level in about a minute without finger pricking or any pain. GlucoTrack® features a small sensor that clips to the earlobe and measures the user’s glucose level using innovative and patented sensor technologies. The measured signals are analyzed using a proprietary algorithm and then a calculated glucose level is displayed on a small handheld device the size of a small mobile phone. The glucose results are stored in the device and used to estimate HbA1c level using a proprietary algorithm. The device can also display glucose values graphically, enabling the user to monitor glucose levels over time.
GlucoTrack® has received approvals for CE Mark in Europe and from the Ministry of Food and Drug Safety in South Korea for type 2 diabetes and pre-diabetics, and is currently in the early stages of commercialization in Europe, South Korea, and other geographies. GlucoTrack® is expected to begin clinical trials for United States FDA approval. The product is currently experimental in the United States and is limited to investigational use only.
About Integrity Applications, Inc.
Integrity Applications, Inc. (OTCQB: IGAP) was founded in 2001 and is focused on the design, development, and commercialization of non-invasive glucose monitoring technologies for people with type 2 diabetes and prediabetes. The Company has developed GlucoTrack®, a proprietary non-invasive glucose monitoring device designed to obtain glucose level measurements in about a minute without the pain, incremental cost, difficulty, or discomfort of conventional invasive finger stick devices. Integrity Applications Inc. is a Delaware corporation, with headquarters in the United States and an R&D site in Ashdod, Israel. For more information, please visit http://www.integrity-app.com/ and http://www.glucotrack.com.
This news release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements contained in this news release that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “expect”, “plan” and “will” are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect Integrity Applications’ actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect Integrity Applications’ results include, but are not limited to, the ability of Integrity Applications to raise additional capital to finance its operations (whether through public or private equity offerings, debt financings, strategic collaborations or otherwise); risks relating to the receipt (and timing) of regulatory approvals (including FDA approval); risks relating to enrollment of patients in, and the conduct of, clinical trials; risks relating to its current and future distribution agreements; risks relating to its ability to hire and retain qualified personnel, including sales and distribution personnel; and the additional risk factors described in Integrity Applications’ filings with the U.S. Securities and Exchange Commission (the “SEC”), including its Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC on March 31, 2017.
Investor Contact Sami Sassoun, CFO Integrity Applications SamiS@integrity-app.com +972 (8) 675-7878 Ext. 400