GLUCOTRACK ANNOUNCES THE APPOINTMENT OF LUIS MALAVÉ TO CHAIR OF THE BOARD OF DIRECTORS
14 February 2024 - 1:30AM
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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