Glucotrack announces the appointment of Luis Malavé to chair of the Board of Directors
February 13 2024 - 12:56PM
InvestorsHub NewsWire
GLUCOTRACK
ANNOUNCES THE APPOINTMENT OF LUIS MALAVÉ TO CHAIR OF THE BOARD OF
DIRECTORS
Rutherford, NJ, February 13, 2024 --
InvestorsHub NewsWire -- Glucotrack, Inc. (Nasdaq:
GCTK) ("Glucotrack" or the "Company"), a medical device company
focused on the design, development, and commercialization of novel
technologies for people with diabetes announced today that Luis
Malavé has been elected as Chairman of its Board of Directors,
effective immediately.
"I can think of no better person to
lead our Board during this exciting and pivotal time for
Glucotrack," said Andrew Sycoff, member of the Board of Directors.
"With a deep commitment to the mission and values of the
organization, Luis will be an invaluable strategic leader for the
continued growth of the company."
Mr. Malavé brings more than 30 years
of leadership experience in the MedTech industry, primarily in
diabetes management, spanning all company stages from private
startups to large-cap publicly listed companies. He has extensive
expertise in product development, operations, marketing, strategic
partnerships, and US FDA regulatory strategy.
Mr. Malavé currently serves as
President of EOFLOW CO. Ltd., a company listed on the Korea Stock
Exchange that has developed a wearable disposable insulin pump.
Prior to that, Mr. Malavé was the President and CEO of Palyon
Medical, maker of an implantable drug-delivery system that spun out
from German medical-technology giant Fresenius SE. Prior to Palyon,
he spent nearly a decade at insulin pump maker Insulet Corp.,
joining as its Senior Vice President of Research, Development and
Engineering in the first year and as Chief Operating Officer as
Insulet grew to a multi-billion dollar public company. He also held
various senior management positions at MiniMed, fueling its growth
innovation and growth to eventual acquisition by
Medtronic.
"I am honored to take on this
important role," said Mr. Malavé, who has served on the Glucotrack
Board since 2021. "Glucotrack has an innovative and compelling
technology that will address unmet needs and expand patient choice
in the diabetes market. I look forward to working with the Board
and the leadership team to further strengthen the company's
foundation, to build out its operational capacity, to advance the
clinical program, and to continue to create value for all our
stakeholders and patients with diabetes."
"We are very fortunate to have Luis'
leadership on the Board of Directors. He has been an incredible
champion of Glucotrack's vision throughout his entire tenure on our
Board," said Paul V. Goode, PhD, President & CEO of Glucotrack.
"His considerable experience across the diabetes market provides
him with valuable insights that will benefit us as we progress the
development of our implantable Continuous Blood Glucose Monitor
(CBGM) for people living with diabetes."
Mr. Malavé earned his Bachelor's
degree in Mathematics and Computer Science from the University of
Minnesota, a Master's degree in Software Engineering from the
University of St. Thomas, and an MBA from the University of
Maryland.
About GlucoTrack, Inc.
GlucoTrack, Inc. (NASDAQ:
GCTK) is focused on the design,
development, and commercialization of novel technologies for people
with diabetes. The Company is currently developing a long-term
implantable continuous glucose monitoring system for people living
with diabetes. For more information, please
visit http://www.glucotrack.com.
Investor
Contact: investors@glucotrack.com
Forward-Looking
Statements
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 Glucotrack's 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 Glucotrack's results include, but are not limited to, the
ability of GlucoTrack 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 Glucotrack's 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, 2022 as filed with the SEC on March
31, 2023.
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