Toronto, Ontario--(Newsfile Corp. - June 20, 2018) - ChroMedX Corp. (CSE: CHX) (OTCQB: CHXIF) (FSE: EIY2) (the "Company"), developer of the HemoPalm Handheld Blood Analyzer Platform, is pleased to announce the appointment of Tom Glawdel, PhD as Chief Scientific Officer and HemoPalm science lead effective immediately.
Mr. Glawdel is a decorated PhD in Mechanical and Mechatronics Engineering from the University of Waterloo with experience in the development of microfluidic, molecular diagnostics, RUO products and medical devices both internal and through strategic research partnerships. Tom has authored 30+ academic publications and patent applications.
"I amvery happyto be welcoming Tom to the team as Chief Scientific Officer and Science lead for the HemoPalmplatform" said Lahav Gil, CEO, ChroMedX Corp. "Tom has a rare combination of scientific and engineering training, combined with core knowledge in microfluidics and biosensors development. On top of that he has a great understanding of commercialization strategies and business considerations. This makes him an excellent leader and team member in a MedTechincubator-accelerator like ours. Beyond that, his ability to manage the thinking process around complex issues and bring clarity to the discussion is remarkable."
As Chief Scientific Officer and HemoPalm lead, Tom will be responsible for managing the development of the Company's sensor technologies and the single use cartridge for the HP, as well as provide key scientific input into additional projects and products as the Company expands. He is currently building out the lab, accelerating HP prototype development, and managing the IP portfolio.
Tom began his career in the industry at STEMCELL Technologies in Bioengineering R&D, developing novel technologies for cell separation and purification, and cell culture for the stem cell research market.
Following this, Tom held escalating positions at Xagenic Inc.; a privately held molecular diagnostics company developing a fully-automated molecular diagnostic platform. Tom assisted in managing research initiatives and product development for a team of 20 researchers, developed data analytics methods and tools for processing experimental data across research, quality and manufacturing groups, and guided research and development of a novel molecular diagnostic platform.
The Company also announces that it has granted an aggregate of 4,017,500 options to purchase common shares of the Company exercisable at today's closing price and expiring on June 21, 2023, to certain directors, officers, employees and consultants of the Company.
Earlier this week the Company announced the expansion of ChroMedX's operations into an integrated medtech incubator/accelerator platform. The formal name change will take place following the Company's Annual General Meeting on June 29, 2018.
As Relay Medical, the Company will develop and productize multiple products and projects concurrently as well as vet strategic acquisitions that are complimentary to current infrastructure assets. Acquisitions and ongoing vetting of projects will be governed by robust criteria and a disciplined process supported by an independent investment committee. By sourcing technologies and integrating the funding and development of products in one organization, led and managed by one expert team, Relay Medical is building the capacity to develop and transact technologies with high efficiency.
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ChroMedX Corp. is a medical technology company focused on the development of novel, handheld medical devices for diagnostic testing.
HemoPalm, the Company's lead product is the only handheld blood analysis system which combines Blood Gases & Electrolytes with full CO-oximetry. It has a single-use cartridge/handheld reader format, providing the simplest, most rapid and accurate testing process for use in management of critical care patients. Current blood gas systems require purchase of a second device to carry out CO-oximetry measurements. ChroMedX Corp. technologies are protected by the Company's issued and pending patents, covering blood/plasma/serum collection, and processing and analysis.Website: www.chromedx.com
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Except for statements of historic fact, this news release contains certain "forward-looking information" within the meaning of applicable securities law. Forward-looking information is frequently characterized by words such as "plan", "expect", "project", "intend", "believe", "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur. Forward-looking statements are based on the opinions and estimates at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company's control. There are no assurances that the commercialization plans for UXD described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. Additional information identifying risks and uncertainties that could affect financial results is contained in the Company's filings with Canadian securities regulators, which filings are available at www.sedar.com.
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