WILMINGTON, Del. and ASHDOD, Israel, June 8, 2017 /PRNewswire/ -- Integrity Applications, Inc. (OTCQB: IGAP), maker of GlucoTrack®, a non-invasive device for measuring glucose levels in people with type 2 diabetes and prediabetes, today announced the appointment of David Podwalski as Chief Commercial Officer.
Mr. Podwalski is a seasoned pharmaceutical and life sciences executive with more than 20 years of experience in global commercial leadership, most notably with insulin-based therapies. Most recently, he served at Ernst & Young as Senior Consultant and Subject Matter Expert, Life Sciences, where he assisted major pharmaceutical, animal health, diagnostic, and medical device companies in developing innovative go-to-market commercial strategies, sales and marketing excellence programs, product launch roadmaps, commercial operations and analytics support, and enhanced patient and physician support services.
Previously, Mr. Podwalski was Senior Director of Global Commercial Effectiveness at Aventis Pharmaceuticals, where he designed and established leading practices in sales and marketing capabilities in the US, Europe, Asia and Latin America. While at Aventis, Mr. Podwalski provided global commercial leadership in the development of the global insulin business and improved pen delivery systems. Mr. Podwalski successfully launched Lantus and the Insulin Pen Delivery system in the United States, Germany, Japan and multiple other countries. This 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 pharmaceutical and consumer healthcare products, most notably in diabetes.
John Graham, CEO and Chairman of Integrity Applications, remarked, "We are excited to have David join the Integrity Applications' team. His extensive commercial and marketing background in diabetes, including driving sales and marketing for numerous new and relaunched products in the medical device industry, will be advantageous as we prepare to expand GlucoTrack commercial initiatives and implement strategies to capture a substantial portion of the market for non-invasive glucose monitoring in prediabetes and type 2 diabetes."
Mr. Podwalski commented, "I am pleased to be joining Integrity Applications at such an exciting time in the company's growth. We are seeing the convergence of glucose monitoring technology and digital health for diabetes, and I am enthusiastic about the commercial opportunities for GlucoTrack. There is an urgent need to transform diabetes management and to slow the progression of the diabetes epidemic. We believe that GlucoTrack, a non-invasive and patient-friendly approach to glucose monitoring, has significant potential in these large and clinically important markets."
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 technology. 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 for a projected HbA1c level using a proprietary algorithm. The device also displays the glucose values graphically allowing the user to monitor glucose over a period of time.
GlucoTrack® has received CE Mark and KFDA approvals for type 2 diabetes and prediabetics, 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 in late 2017. The product is currently experimental in the United States and is limited to investigational use only.
About Integrity Applications, Inc.
Integrity Applications was founded in 2001 and is focused on the design, development and commercialization of non-invasive glucose monitoring technologies for patients with 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 www.integrity-app.com and 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 (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2016 as filed with the SEC on March 30, 2017.
Lazar Partners Ltd.
+1 (212) 599-1265
Sami Sassoun, CFO Integrity Applications
+972 (8) 675-7878 Ext. 400
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SOURCE Integrity Applications, Inc.