IRVINE, CA--(Marketwired - July 18, 2016) - Biomerica Inc. (OTCQB: BMRA) today announced that it has added Dr. Mark A. Sirgo to its Board of Directors, expanding the Board to six members which includes four outside members.
Dr. Mark A. Sirgo served on the Board of Directors and as Chairman of the Compensation Committee of Salix Pharmaceuticals, Inc. a specialty pharmaceutical company specializing in gastrointestinal products since 2008 until its sale in 2015. He was strategically involved in the company's sale to Valeant for over $11.1 billion in an all cash deal. He is the current CEO, President and Director of BioDelivery Sciences International, Inc (NASDAQ: BDSI), a specialty pharmaceutical company where he has overseen the approval of three drug products since 2009. Dr. Sirgo co-Founded Arius Pharmaceuticals, Inc. in 2002 and served as its President and Chief Executive Officer prior to its sale to BDSI in 2004. He has more than 30 years of experience in the pharmaceutical industry, including clinical drug development, marketing, sales, and business development. He spent 16 years in a variety of positions of increasing responsibility in both clinical development and marketing at Glaxo, Glaxo Wellcome, and GlaxoSmithKline including Vice President of International OTC Development and Vice President of New Product Marketing. Dr. Sirgo was responsible for managing the development and FDA approval of Zantac 75 among other accomplishments. He served as Senior Vice President of Global Sales and Marketing at Pharmaceutical Product Development (PPD), where he oversaw year-on-year sales growth of nearly 40% from 1996 to 2000.
"I'm looking forward to working with the Board to help maximize the commercial opportunities of the company's unique InFoods® product both in the United States and globally," stated Dr. Mark Sirgo.
Zackary Irani, Chairman and Chief Executive Officer, stated, "Our entire board is excited about having Mark join our team. His expertise in Pharmaceutical Licensing, Marketing and Development will be invaluable for our commercialization goal of the InFoods® IBS product worldwide."
The InFoods® IBS product identifies patient specific foods that may alleviate an individual's IBS symptoms. The patent pending diagnostic guided therapy is designed to allow for a guided dietary regimen to improve Irritable Bowel Syndrome (IBS) patient outcomes. The point-of-care product is being developed to allow physicians to perform the test in-office using a finger stick blood sample and provides new incremental revenues to a GI medical practice. A billable CPT code that can be used by both clinical labs and physicians' offices is available for InFoods® diagnostic products. The InFoods® product is unique in that it has no drug type side effects.
About Biomerica (OTCQB: BMRA)
Biomerica, Inc. (www.biomerica.com) is a global biomedical company that develops, manufactures and markets advanced diagnostic products used at the point-of-care (in home and in physicians' offices) and in hospital/clinical laboratories for the early detection of medical conditions and diseases. The Company's products are designed to enhance health and well being, while reducing total healthcare costs. Biomerica primarily focuses on products for Gastrointestinal Disease, Diabetes and esoteric testing.
The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this press release (as well as information included in oral statements or other written statements made or to be made by Biomerica) contains statements that are forward-looking; such as statements relating to intended launch dates, sales potential, significant benefits, market size, prospects, new products, favorable outlook, new distributors, expansion, increases in productivity and margins, expected orders, leading market positions, anticipated future sales or production volume of the Company, the launch or success of product and new product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future, and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. The potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company is under no obligation to update any forward-looking statements after the date of this release.