TORONTO and
DALLAS, June 5, 2023
/CNW/ - (TSXV: PINK) (OTC: PYNKF) (FSE: 4PC) –
Perimeter Medical Imaging AI, Inc. ("Perimeter" or the "Company") –
a commercial-stage medical technology company – announced that
Jeremy Sobotta has resigned as Chief
Executive Officer of the Company, effective June 15, 2023, for personal reasons.
Perimeter has also announced that the Board of
Directors has appointed Adrian
Mendes as Chief Executive Officer, effective immediately.
Mr. Sobotta will work closely with Mr. Mendes over the coming weeks
to ensure a smooth transition of responsibilities. Mr. Mendes is an
experienced technology executive with 25 years of experience
building and scaling technology companies across many different
industries. Most recently, he was the Chief Operating Officer at
Groq Inc, an AI hardware company, which he joined shortly after
formation in 2016 and helped scale to one of the leading startups
in that space.
In addition, Perimeter announced that
Josh Vose, MD, MBA has been
appointed to its Board of Directors, effective immediately. Dr.
Vose is an experienced medical device executive and corporate
director with a longstanding history in scaling novel surgical
technologies, and particularly in breast oncology and
reconstruction. Most recently, Dr. Vose served as CEO and Board
Director at SIA Health, leading the company through its Series B
financing, the commercial growth of DuraSorb®, and acquisition by
Integra LifeSciences (NASDAQ: IART).
Suzanne Foster,
Chair of Perimeter's Board of Directors commented, "We are grateful
for Jeremy's many contributions and service to Perimeter,
particularly his prudent management of the Company's finances as
the business transitioned from development stage to commercial
stage. On behalf of the staff and the Board, we appreciate his
leadership, dedication and hard work and wish him the best in his
future endeavors."
Ms. Foster continued, "We are excited for Adrian
to join Perimeter at this exciting time in the Company's growth as
we focus on execution on commercial placements of the S-Series with
continued advancement of the AI-enabled B-Series. In addition, I'd
like to welcome Dr. Josh Vose to our
Board; Josh will be instrumental in providing guidance to our
ongoing clinical and regulatory strategy to accelerate the B-Series
through clinical development and to commercialization."
Adrian Mendes,
incoming CEO of Perimeter, commented, "The hardworking team at
Perimeter has done a wonderful job marrying OCT technology with
world-class AI algorithms and developing products that will greatly
help cancer surgery patients. I look forward to joining this
amazing team as they work to deploy these products broadly and get
them into the hands of surgeons everywhere."
Chamath Palihapitiya, CEO and Founder of Social
Capital and Perimeter's largest shareholder, commented, "We're
excited to be bringing Adrian to the Perimeter team and believe he
has the operational expertise necessary to rapidly move the company
forward. Adrian has spent his career focused on successfully
commercializing AI-enabled hardware across a number of industries
and has the right mix of skills to accelerate the adoption of both
the company's S-Series OCT technology and the forthcoming
AI-enabled B-Series. We remain committed to Perimeter's long-term
vision of improving cancer outcomes for patients and are excited
about the company's next chapter under Adrian's leadership."
The appointments of Mr. Mendes and Dr. Vose
remain subject to approval by the TSX Venture Exchange.
About Perimeter Medical Imaging AI,
Inc.
Based in Toronto,
Canada and Dallas, Texas,
Perimeter Medical Imaging AI (TSX-V: PINK) (OTC: PYNKF)
(FSE: 4PC) is a medical technology company driven to transform
cancer surgery with ultra-high-resolution, real-time, advanced
imaging tools to address areas of high unmet medical need.
Available across the U.S., our FDA-cleared Perimeter S-Series OCT
system provides real-time, cross-sectional visualization of excised
tissues at the cellular level. The breakthrough-device-designated
investigational Perimeter B-Series OCT with ImgAssist AI represents
our next-generation artificial intelligence technology that is
currently being evaluated in a pivotal clinical trial, with support
from a grant of up to US$7.4 million
awarded by the Cancer Prevention and Research Institute of
Texas. The company's ticker symbol
"PINK" is a reference to the pink ribbons used during Breast Cancer
Awareness Month.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
Forward-Looking Statements
This news
release contains statements that constitute "forward-looking
information" within the meaning of applicable Canadian securities
legislation. In this news release, words such as "may," "would,"
"could," "will," "likely," "believe," "expect," "anticipate,"
"intend," "plan," "estimate," and similar words and the negative
form thereof are used to identify forward-looking statements.
Forward-looking information may relate to management's future
outlook and anticipated events or results and may include
statements or information regarding the future financial position,
business strategy and strategic goals, competitive conditions,
research and development activities, projected costs and capital
expenditures, research and clinical testing outcomes, taxes and
plans and objectives of, or involving, Perimeter. Without
limitation, information regarding the potential benefits of
Perimeter S-Series OCT, Perimeter B-Series OCT, and Perimeter
ImgAssist; and the expected details regarding Perimeter's ongoing
clinical trials, are forward-looking information. Forward-looking
statements should not be read as guarantees of future performance
or results, and will not necessarily be accurate indications of
whether, or the times at or by which, any particular result will be
achieved. No assurance can be given that any events anticipated by
the forward-looking information will transpire or occur.
Forward-looking information is based on information available at
the time and/or management's good-faith belief with respect to
future events and are subject to known or unknown risks,
uncertainties, assumptions, and other unpredictable factors, many
of which are beyond Perimeter's control. Such forward-looking
statements reflect Perimeter's current view with respect to future
events, but are inherently subject to significant medical,
scientific, business, economic, competitive, political, and social
uncertainties and contingencies. In making forward-looking
statements, Perimeter may make various material assumptions,
including but not limited to (i) the accuracy of Perimeter's
financial projections; (ii) obtaining positive results from trials;
(iii) obtaining necessary regulatory approvals; and (iv) general
business, market, and economic conditions. Further risks,
uncertainties and assumptions include, but are not limited to,
those applicable to Perimeter and described in Perimeter's
Management Discussion and Analysis for the year ended December 31, 2022, which is available on
Perimeter's SEDAR profile at www.sedar.com, and could cause actual
events or results to differ materially from those projected in any
forward-looking statements. Perimeter does not intend, nor does
Perimeter undertake any obligation, to update or revise any
forward-looking information contained in this news release to
reflect subsequent information, events, or circumstances or
otherwise, except if required by applicable laws.
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SOURCE Perimeter Medical Imaging, Inc.
