Healthcare Industry News: SpectRx
News Release - November 2, 2010
Freedom Meditech Fills Executive TeamAdditional Management Team Provides 50 Years Combined Experience
SAN DIEGO--(Healthcare Sales & Marketing Network)-- Freedom Meditech, Inc., the developer of non-invasive, ophthalmic-based products to detect and manage diabetes, today announced the appointment of Keith D. Ignotz as President & Chief Operating Officer and John F. Burd, Ph.D. as Chief Science Officer.
“Mr. Ignotz and Dr. Burd collectively possess over 50 years of executive leadership experience in the ophthalmic and diabetes medical device fields,” said Craig Misrach, Chairman and Chief Executive Officer of Freedom Meditech. “They bring the perfect combination of experience, insight and science necessary to successfully launch our diabetes detection and monitoring products.”
Mr. Ignotz was President/COO of SpectRx, Inc. (now Guided Therapeutics, Inc.) and President/CEO of Humphrey Instruments SB Japan (sold to Allergan). Dr. Burd was the Founder/CEO of DexCom and LXN Corporation (sold to Inverness Medical). Both individuals also maintain Board of Directors seats with the company.
The company is currently developing two product lines. The ClearPath DS-120™, a proprietary, non-invasive ophthalmic diagnostic device designed to quickly detect elevated advanced glycosolated end products - a well-established biomarker of diabetes and pre-diabetes - that proliferate as a by-product of repetitive episodes of uncontrolled glucose over time. The I-SugarX™, is a non-invasive, handheld, ocular glucose measurement device that is intended to provide people with diabetes a convenient, pain-free, and bloodless way to monitor daily glycemic control. Both technologies aim to become superior alternatives to current “finger prick” glucose testing and blood draw based diabetes screening and diagnostic methods.
The global markets for diabetes glucose monitoring and non-invasive ophthalmic diabetes screening are estimated to be $12 billion and $2 billion per year, respectively.
About Freedom Meditech
Freedom Meditech, Inc. is a private, growth-stage medical device company focused on the development and commercialization of first-to-market, non-invasive, ophthalmic medical devices for disease detection and management of diabetes. Freedom Meditech’s proprietary technology platforms are based on the scientific rationale that glucose, which is the hallmark of diabetes when present or elevated in the blood, presents rapidly within the fluid and blood of the eye.
The company maintains corporate offices and diabetes screening product commercialization activities in San Diego, California, with glucose monitoring research and development conducted throughout Ohio. For more information, visit www.freedom-meditech.com.
Source: Freedom Meditech
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