GlucoTrack® Maker Names Two New Board Members

ASHDOD, Israel, March 23, 2016 /PRNewswire/ -- Integrity Applications, Inc. (OTCQB: IGAP), maker of GlucoTrack®, a non-invasive device for measuring glucose levels of people with Type 2 diabetes and pre-diabetics, announced today that it appointed Angela Strand and Leslie Seff to its Board of Directors, effective March 23, 2016. Ms. Strand will also chair the newly formed Nominating and Corporate Governance Committee of the Board.

Ms. Strand is an experienced executive and serial entrepreneur who has focused on building disruptive, technology-based products and companies across a range of diverse global industries, including biotech/medtech, consumer health, technology, software and transportation & logistics. She currently serves as a founder and senior executive of Nohm, a joint venture between Smith Electric Vehicles and FDG Electric Vehicles Ltd. (HK: 729HK), and the founder of Strand Strategy, a healthcare management and consulting firm. Ms. Strand is also a named inventor with seven issued patents. From 2011-2015, Ms. Strand served as the chief marketing officer and head of business development and government affairs for Smith Electric Vehicles. Ms. Strand has also served as vice president of market development for Proteus Digital Health, and in various executive roles at Aerogen (acquired by Nektar Therapeutics), Novacept (acquired by Cytyc) and FemRx (acquired by Johnson & Johnson). Ms. Strand holds a B.Sc. in Communications and an MBA in Marketing from the University of Tennessee.

Mr. Seff brings extensive financial, economic, stock exchange, capital markets, and small company expertise to the Company, gained through his successful career on Wall Street. He currently serves as founder and chief operating officer of AIMPaaS LLC, a technology firm that provides trade execution facility, risk assessment, performance monitoring, and compliance oversight for hedge funds, brokerage firms and other asset managers. Mr. Seff is also the founder and president of the consulting firm, Matthew B. Management, Inc. Prior to this, Mr. Seff served as Chief Operating Officer and Managing Director, Capital Markets of BrokerageAmerica LLC, a provider of trade execution services to broker/dealers and institutional investors. In 1996, Mr. Seff started the NASDAQ trading department at Fidelity Investments and subsequently managed that department from 1996 to 1998. Mr. Seff has also served as the managing member of his own NASD Member Firm, and is a former Allied Member of the New York Stock Exchange.  Mr. Seff holds a BBA in Finance from Hofstra University and an MBA from Bernard Baruch College (City University of New York). 

About GlucoTrack®

GlucoTrack® is a non-invasive device for measuring glucose levels of people with Type 2 diabetes or at risk of developing diabetes that does not require pricking of the fingers to draw blood for daily glucose monitoring. GlucoTrack® features a small sensor that clips to the earlobe and measures the wearer's glucose level by taking measurements using three technologies. The measured signals are analyzed using a proprietary algorithm and displayed on a small handheld device, the size of a mobile phone. The derived glucose measurement is also announced verbally, facilitating use by elderly and vision-impaired diabetes patients.

The GlucoTrack® Model DF-F is expected to begin clinical trials for United States FDA approval in the first half of 2016, subject to approval of Integrity Applications' clinical trials protocol by the FDA.

The GlucoTrack® Model DF-F obtained CE Mark approval in Europe (June 2013) and final CE Mark approval in March 2014, and in August 2015 received approval to market the device also to pre-diabetics.

The GlucoTrack® Model DF-F is currently under assessment with the China Food and Drug Administration (CFDA) as well as food and drug governing bodies in Japan, South Korea, Canada and Australia.

About Integrity Applications, Inc.

Integrity Applications, Inc. is a medical device company focused on the design, development and commercialization of non-invasive glucose monitoring devices for use by people with diabetes. Integrity Applications has developed the GlucoTrack® model DF-F. Integrity Applications operates primarily through its wholly-owned Israeli subsidiary, A.D. Integrity Applications, Ltd. For more information, please visit www.integrity-app.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" 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, Integrity Applications' financial condition and cash on hand and its ability 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 obtaining regulatory approval in the United States and in foreign jurisdictions; risks relating to 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, including its Annual Report on Form 10-K for the year ended December 31, 2014.

Contact:

Eran Hertz, 
CFO Integrity Applications, +972 (8) 675-7878, [email protected]

SOURCE Integrity Applications, Inc.

Related Links

http://www.integrity-app.com