CAESAREA, Israel, July 10, 2014 /PRNewswire/ -- LabStyle Innovations Corp. (OTCQB:DRIO), developer of the Dario™ Diabetes Management Solution, today announced the appointment of Professor Richard B. Stone as an independent member of its Board of Directors.
Prof. Stone brings over forty-five years of legal and business experience to LabStyle as an entrepreneur, venture capitalist public, company officer and director, and legal and corporate governance expert.
He currently serves on the board of directors of multiple technology companies, including Powermat, Espro-Accoustiguide Group, Wellsense Technologies, NanoX Imaging and Check-Cap. Among his other public company experiences, Prof. Stone cofounded Lev Pharmaceuticals, Inc. which was sold to ViroPharma in 2008 for nearly $450 million in upfront consideration.
Prof. Stone is presently and has since 1974 served as a professor at Columbia Law School, specializing in tax law and business planning, and previously served as an Assistant Solicitor General of the United States. He also served as Chairman of the Conference of Presidents of Major American Jewish Organizations. He is a graduate of Harvard University and Harvard Law School.
"We are very excited to have someone with Richard's extensive experience and credentials, particularly in the medical and technology industries, join our Board of Directors," said Dr. Oren Fuerst, LabStyle's Chairman of the Board. "As we continue to grow and expand Dario into new markets, Richard will be an incredible asset allowing us to draw on his vast knowledge of law as well as managing and financing companies. In addition, his corporate governance experience will be particularly helpful to us, and we expect that he will be an active member of our independent board committees."
"I'm very excited to be joining the team that has created Dario, which promises to make a notable difference in the lives of people with diabetes," said Prof. Stone. "I believe this innovative technology has amazing potential, and I look forward to playing a direct role in helping LabStyle achieve its operational and corporate goals."
About LabStyle InnovationsLabStyle Innovations Corp. (OTCQB:DRIO) develops and commercializes patented technology providing consumers with laboratory-testing capabilities using smart mobile devices. LabStyle's flagship product is the Dario™ Diabetes Management Solution, a mobile, cloud-based, diabetes management solution which includes novel software applications combined with a stylish, 'all-in-one', pocket-sized, blood glucose monitoring device. Dario™ received CE mark certification in September 2013 and began a world rollout in select countries in December 2013. LabStyle filed a Premarket Notification Application, also known as a 510(k), with the US Food and Drug Administration (FDA) for the Dario™ smart meter (Dario™ Blood Glucose Monitoring System) in December 2013. LabStyle is pursuing patent applications in multiple areas covering the specific processes related to blood glucose level measurement as well as more general methods of rapid tests of body fluids using mobile devices and cloud-based services and in April 2014, LabStyle received a Notice of Allowance for a U.S. patent covering core functions of the Dario™ Blood Glucose Monitoring System. For more information: www.mydario.com and http://mydario.investorroom.com.
Cautionary Note Regarding Forward-Looking StatementsThis news release and the statements of representatives and partners of LabStyle Innovations Corp. (the "Company") related thereto contains or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as "plan," "project," "potential," "seek," "may," "will," "expect," "believe," "anticipate," "intend," "could," "estimate" or "continue" are intended to identify forward-looking statements. Readers are cautioned that certain important factors may affect the Company's actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company's results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company's actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company's filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the impact of the Company's new director as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
© LabStyle Innovations Corp. All rights reserved.Contacts: Press
Investor RelationsBrenda Zeitlin
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