Ventripoint Provides Corporate Update
Toronto, Ontario, December 19, 2017 – Ventripoint Diagnostics Ltd. (“Ventripoint” or the “Company”, TSXV:VPT) is pleased to announce that it has hired a Manager of Regulatory Affairs and Quality Assurance, promoted to President the VP, Development and Operations, completed the ISO60601 safety testing for the VMS+ device and moved its Development and Manufacturing Centre, as well as its Corporate Offices.
Dr. Alvira Macanovic has been appointed Manager of Regulatory Affairs and Quality Assurance. She has over 10 years of experience in pharmaceutical and medical device related industries where she has worked with researchers, start-ups, SMEs, and multi-national companies to commercialize technologies in multiple therapeutic areas. She has developed regulatory and quality strategies and plans to deliver high quality, safe, and reliable medical device products to market efficiently and cost-effectively. Most recently as Director of Regulatory Affairs and Quality Assurance at a medical imaging company, she oversaw all aspects of the regulatory affairs/quality operations and activities for the successful launch of their products in Canada, the United States, and China. Previously, Dr. Macanovic worked for a non-profit organization supported through the Centres of Excellence for Commercialization and Research to commercialize medical imaging and digital pathology technologies. She obtained a Bachelor of Science in Biochemistry from McGill University and a PhD in Chemistry from Concordia University.
The Board of Directors is pleased to announce that Mr. Desmond Hirson has been promoted to President of the Company. Mr. Hirson was hired in August as Vice-President, Development and Operations, and has done an outstanding job of re-building the Company’s operations team. Dr. George Adams will remain as CEO.
In 2017, the Company reconfigured its VMS machine to accommodate newer ultrasound devices and provide a better form for clinical use. The VMS+ machine was required to be re-certified under ISO60601 specifications for safe medical devices. The Company is pleased to report that the testing program is now complete, and the Company is awaiting the issuance of the certificate. Dr. George Adams, CEO of Ventripoint, stated "With the ISO60601 certification, we can provide VMS+ machines in Canada and apply for regulatory approvals elsewhere”.
The Company has moved its Development and Manufacturing Centre, as well as its Corporate Offices to 2 Sheppard Avenue East, Suite 605, Toronto Ontario, M2N 5Y7. The telephone and fax numbers remain the same.
Ventripoint announces that it has entered into an agreement with a consultant to provide sales and marketing services in the Middle East. As compensation for these services, after three months, the consultant will receive Ventripoint common shares worth $30,000, with the number of shares determined with reference to the market price at the time of issuance, and subject to the approval of the TSX Venture Exchange.
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Forward Looking Statement:
This news release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "expect", "anticipate", "continue", "estimate", "objective", "ongoing", "may", "will", "project", "should", "believe", "plans", "intends" and similar expressions are intended to identify forward-looking information or statements. In particular, this news release contains forward-looking information relating to final approval of the Private Placement by the TSXV and the use of proceeds of the Private Placement. The forward-looking statements and information are based on certain key expectations and assumptions made by the Corporation. Although the Corporation believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward looking statements and information because the Corporation can give no assurance that they will prove to be correct.
Since forward-looking statements and information address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those currently anticipated due to a number of factors and risks. Certain factors, which could materially affect such forward-looking information are described in the risk factors in the Corporation's most recent annual management’s discussion and analysis that is available on the Corporation’s profile on SEDAR at www.sedar.com. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements included in this news release are expressly qualified by this cautionary statement. The forward-looking statements and information contained in this news release are made as of the date hereof and the Corporation undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws.