Broadly Experienced Life Sciences Executive and Entrepreneur Joins Imaging3 Board
BURBANK, CA, March 22, 2018 (GLOBE NEWSWIRE) -- Imaging3, Inc. (OTCQB: IGNG) (OTCQB: IGNGD), a development stage company introducing disruptive technologies in the medical imaging industry, is pleased to announce the appointment of Jeffrey N. Peterson joining its board of directors effective today.
“Following Imaging3’s recent successful completion of critical activities facilitating a fresh start on its product development and approval goals for the introduction of an innovative breakthrough in cost-effective medical imaging, we are now focused on building the high-quality leadership team with the experience to bring this vision to fruition. I am delighted to lead this effort with the addition of Mr. Peterson to our board of directors. Having spent his early career rising through leadership roles at General Electric and Abbott Laboratories, as well as many years developing earlier stage private and public life sciences companies, Jeff brings deep experience in strategic leadership and connecting critical resources to assist us through our current stage and accelerate us towards achievement of our overall goals,” said CEO John Hollister.
Mr. Peterson brings broad executive general management and public, private and non-profit board leadership experience to Imaging3’s board. Mr. Peterson is currently serving as the chairman of Pressure BioSciences (OTCQB: PBIO), a life sciences tools company focused on utilizing extreme pressure technologies for unique control over biomolecular interactions, analytical sample preparation, and nano-emulsion preparations. In addition, Mr. Peterson is the chairman and CEO of Veritomyx, Inc., a Target Discovery, Inc. subsidiary providing high-performance cloud computing SaaS solutions for advanced signal processing in mass spectrometry. Target Discovery, Inc. is a personalized medicine diagnostics company focused on proteomic and isoformic biomarkers, where he has served as co-founder and CEO since 1999.
Prior to his current roles, Mr. Peterson served as CEO of Sharpe, Peterson, Ocheltree & Associates, an international business development consulting firm assisting Fortune 500 and many smaller firms in business expansion and strategy. Mr. Peterson spent 9 years in management roles for Abbott Laboratories, concluding as the CEO & GM of Abbott South Africa. Prior to Abbott, Mr. Peterson spent 11 years rising through management roles for General Electric’s Engineered Materials and Plastics Groups. Mr. Peterson completed the Entrepreneurship curriculum and holds BSChemE and MSChemE degrees from MIT. He currently serves on the Advisory Board of the California Technology Council, served for 12 years on the Board of BayBio and is chair emeritus of the BayBio Institute. Mr. Peterson has also served as an active member of the Coalition for the 21st Century Medicine, and in BIO’s Personalized Medicine & Diagnostic Group.
Mr. Peterson offered his views: “Imaging3 has impressed me with its remarkable story of resurgent promise and value. Its transition management team deserves accolades for completing a phoenix-like transition from a daunting set of financial and legal challenges. The company has talented and experienced fresh leadership under its new CEO John Hollister and has been repositioned for an unencumbered re-start on achievement of its exciting vision for a new global paradigm in cost-effective imaging, from industrial and food applications, to a full gamut of 2D, 3D and live surgical-guidance medical imaging. I have had the privilege of serving the medical and healthcare industries in both first and third world environments, and am excited and honored to have the opportunity to contribute to the realization of Imaging3’s worthy goals and market potential.”
About Imaging3 Inc.
Imaging3, Inc., founded in 1993, has developed a patented medical imaging technology, called the Dominion SmartScan™, that produces 3D x-ray images, effectively in real time. The SmartScan technology has the potential to allow healthcare professionals to perform diagnostic and therapeutic procedures more quickly and accurately, resulting in higher throughput for the clinicians and fewer safety risks for the patient. Imaging3’s technology exposes patients to significantly less harmful radiation than current equivalent imaging technologies such as CT scans. The company believes this will allow scans to be used in many settings where scanning is currently limited by concerns about radiation exposure. The technology also notably allows for reasonably convenient portability, easier installation and use-readiness, and a significantly reduced cost burden suitable for novel settings and for healthcare systems across varied global settings. Imaging3 plans to submit a 510K application to the FDA during 2018 in order to gain marketing authorization for initial applications for the SmartScan technology.
Visit the company’s website at http://www.imaging3.com for detailed information about the company’s technology.
Safe Harbor Statement
Imaging3 cautions you that any statement included in this press release that is not a description of historical facts is a forward-looking statement. Many of these forward-looking statements contain the words "anticipate," "believe," "estimate," "may" "intend," "expect" and similar expressions. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the company and are subject to a number of risks and uncertainties inherent in Imaging3’s business, including, without limitation: the company may not ever obtain FDA approval for any of its devices; the company may not be able to secure the funds necessary to support its product development plans; and the company may not ever achieve the market success to sustain a profitable business. In addition, there are risks and uncertainties related to economic recession or terrorist actions, competition from much larger imaging companies, technological obsolescence, unexpected costs and delays, potential product liability claims, and many other factors. More detailed information about Imaging3 and the risk factors that may affect the realization of forward-looking statements is set forth in the company’s filings with the Securities and Exchange Commission, including the company’s Annual Report on Form 10-K and its Quarterly Report on Form 10-Q. Such documents may be read free of charge on the SEC’s website at www.sec.gov. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are qualified in their entirety by this cautionary statement, and Imaging3 undertakes no obligation to revise or update this press release to reflect events or circumstances after the date hereof. This caution is made under the safe harbor provisions of Section 21E of the Private Securities Litigation Reform Act of 1995.