VANCOUBVER, BC / ACCESSWIRE / September 6, 2022 / Gemina Laboratories Ltd. (CSE:GLAB) (FRA:8I7) (US:OTC:GLABF) (the "Company" or "Gemina") is excited to announce the appointment of Brian Firth, an accomplished diagnostic industry executive, as the Company's new Chief Executive Officer. Gemina is also pleased to announce the appointment of founding CEO John Davies, as Chairman of the Board of Directors. The appointment of Mr. Firth follows a multi month process initiated by the Board and current executive team to identify candidates with specific industry experience and proven capabilities to lead Gemina's development, as it transitions from a wholly R&D focused company into a revenue and growth-oriented business.
Brian Firth brings to Gemina an enviable career, focused on health-tech, specifically Point-of-Care diagnostics. He is an accomplished executive with extensive international experience in the sector. Brian spent nearly 8 years at Swiss Precision Diagnostics, one of the worlds leading point of care diagnostics companies, with operations in more than 50 countries. Swiss Precision Diagnostics is the manufacturer of the globally recognised and market leading Clearblue family of pregnancy and fertility monitoring point of care tests. Brian acted as Managing Director of Swiss Precision Diagnostics' UK subsidiary before becoming Chief Operating Officer of Swiss Precisions Diagnostic GmbH (the parent company) in Geneva Switzerland. At Swiss Precision, Brian was responsible for a broad range of business processes including quality management, human resources, regulatory affairs, customer service and research leadership. Swiss Precision is jointly owned by Procter & Gamble and Abbott Laboratories.
Prior to his time at Swiss Precision, Brian was a management consultant for Coopers and Lybrand, working with a blue-chip client roster before he established his own advisory practice focused on health-tech and speciality chemistry businesses, working with companies such as AGFA, Johnson & Johnson, Akzo Nobel and Inverness Medical, where he played a key role in establishing the business that was sold to Johnson & Johnson for $1.3 billion. Subsequently, he founded The Health Works Ltd (a specialist operations consultancy) that was eventually sold to GE Healthcare. His career has also included time in the human wellness market, particularly human performance monitoring for applications in sports medicine and workplace diagnostics.
"On behalf of the Board, I am delighted to welcome Brian into his new role with Gemina; it's an extraordinary accomplishment to have him join our team," commented John Davies, founding CEO. "Brian brings a new level of international sector-relevant experience and strategic acumen to the company at this critical stage of our development. He has taken a systematic approach to getting to know Gemina and the significance of Gemina's technology platform, engaging with the Company methodically since 2021, most recently as a member of the Gemina Advisory Board. Appointing a CEO of Brian's caliber is a clear signal, not only of the tangible successes that we have registered to date, but of our ambitions for the future. It also speaks to the value that Brian and the rest of the Gemina team believe can be created with our novel chemistry platform for diagnostics."
Brian Firth added, "What Gemina has achieved in just 2 short years is extraordinary. You come across disruptive chemistry like this maybe once in a lifetime. And the extraordinary element extends to the people they have already attracted - they are absolutely world class. I'm joining a Company that has validated its proprietary chemistry platform, has a team of world class experts on staff, and is on-track to generate its first revenues - all achieved within the last 24 months. My goal now is to transform Gemina into a globally recognised point-of-care technology company. I wouldn't be here if I thought the goal was unachievable. Over the coming months, I look forward to engaging with the Company's stakeholders and communicating my vision of how Gemina is going to win in its chosen markets."
Concurrent with the appointment, under the Company's Stock Option Plan, the Company has granted Mr. Firth an incentive stock option package that will vest over a three-year period beginning September 7, 2023. A total of one million options will vest based on time related provisions, while one million options will vest upon certain annual performance milestones being met, as established by the Compensation Committee and Board of Directors. Each option is priced at $0.60. Any shares issued upon exercise of an option will be subject to a hold period of four months and one day from the date of grant.
On Behalf of the Board of Directors
Gemina Laboratories Ltd.
About Gemina Laboratories Ltd.
Gemina Labs is a biosensor and diagnostic company with a transformative, patented, proprietary chemistry that powers next-generation testing platforms for a wide range of pathogens that affect human health and wellness. Our technology drives testing platforms that are fast, affordable and accurate, and easily self-administered. Our development pipeline includes platforms for the rapid testing of COVID-19, influenza and other viruses. Additional information on the Company can be found at www.geminalabs.com.
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Forward Looking Statements
This news release includes forward-looking information and statements, which may include, but are not limited to, information and statements regarding or inferring the future business, operations, financial performance, prospects, and other plans, intentions, expectations, estimates, and beliefs of the Company. Such statements include statements regarding the anticipated terms of any proposed transaction or engagement. Information and statements which are not purely historical fact are forward-looking statements. Forward-looking information and statements involve and are subject to assumptions and known and unknown risks, uncertainties, and other factors which may cause actual events, results, performance, or achievements of the Company to be materially different from future events, results, performance, and achievements expressed or implied by forward-looking information and statements herein. Although the Company believes that any forward-looking information and statements herein are reasonable, in light of the use of assumptions and the significant risks and uncertainties inherent in such information and statements, there can be no assurance that any such forward-looking information and statements will prove to be accurate, and accordingly readers are advised to rely on their own evaluation of such risks and uncertainties and should not place undue reliance upon such forward-looking information and statements. Furthermore, the Company is presently unable to fully quantify the impact that the Covid-19 pandemic will have on its operations and recognizes that certain eventualities may affect planned or assumed performance moving forward. As such, any forward-looking information and statements herein are made as of the date hereof, and except as required by applicable laws, the Company assumes no obligation and disclaims any intention to update or revise any forward-looking information and statements herein or to update the reasons that actual events or results could or do differ from those projected in any forward looking information and statements herein, whether as a result of new information, future events or results, or otherwise, except as required by applicable laws.
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SOURCE: Gemina Laboratories Ltd.