CHROMEDX CORP. APPOINTS ASH KAUSHAL TO BOARD OF DIRECTORS

ChroMedX Corp. (the “Company”) (CSE: CHX, OTC: MNLIF, Frankfurt: EIY2), a developer of in vitro diagnostics and Point-of-care Testing technologies is pleased to announce the appointment of Ash Kaushal to the Company’s Board of Directors in addition to his role as President and CEO as announced July 2016.

The Company’s Board of Directors has been very pleased with Mr. Kaushal’s leadership in recent months and is proud to announce his addition to the board of directors.

“The board has been impressed with Ash’s ability to lead, co-ordinate and streamline the development of the HemoPalm Analyzer and Cartridge platform since formally joining the ChroMedX team in July. His experience and organization has provided the Company with a new level of focus and we look forward to his guidance as we advance to the testing and regulatory approval stages.” said George Langdon, Chairman and Director, ChroMedX Corp.

Mr. Kaushal has over 25 years of engineering and management experience in product development in the medical, defence, safety and nuclear industries. He has held Vice President and senior level management positions with several Canadian and British corporations throughout his career.   Mr. Kaushal has developed handheld products from initial concept right through to FDA submission, which involved product life cycle design (hardware/software), setting up off-shore sub-contractors for design and production, all phases of clinical testing, and detailed documentation for FDA submission, Health Canada approval and CE Marking. Mr. Kaushal has co-authored more than ten (10) patents relating to medical application as well as several product design patents.

“This is a great opportunity for me to lead ChroMedX in its development of the HemoPalm platform. HemoPalm has significant breakthrough advances over the current Point-Of-Care (POC) devices on the market.  It will be the only hand-held POC device that combines Blood Gas & Electrolytes with CO-oximetry. My focus will be completion of critical components of the HemoPalm system, build the initial handheld prototype device so we can commence testing of the various assays and then focus on developing the production device.” said Ash Kaushal, President and CEO, ChroMedX Corp. 

ChroMedX announced the closing of a $550,000 private placement on October 26. The funds will be used to continue with the development of the biosensors, disposable cartridge and the initial HemoPalm prototype device. The funds will also be used to expand patent protection of the HemoPalm system beyond the US and Canada.

 

About ChroMedX Corp.

ChroMedX Corp. is a medical technology company focused on the development of novel medical devices for in vitro diagnostics and point-of-care testing.  The devices are protected by the Company’s issued and pending patents, dealing with blood collection, analysis and plasma/serum processing.

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Forward-looking Information Cautionary Statement

 

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.   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