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GlySure Appoints William Moffitt as Executive Chairman

6/26/2013 6:23:31 AM

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OXFORD, England, June 26, 2013 /PRNewswire/ --

GlySure Limited, developer of in-hospital continuous blood glucose monitoring (CBGM) systems, today announced the appointment of William Moffitt as Executive Chairman.

Moffitt has more than 35 years of experience in the medical diagnostics and device industry. He takes on the Executive Chairman role at a crucial phase of GlySure's ongoing development as it commences CE mark trials of its CBGM technology.

Moffitt has an impressive track record of leading corporations of all market capitalizations in the development and commercialization of cutting-edge technologies that revolutionize the healthcare industry. He is the past President and CEO of two of the most technologically disruptive companies in the MedTech space: Nanosphere, Inc. and i-STAT Corp. Under Moffitt’s leadership Nanosphere transformed itself from a development stage company to a publicly listed, rapidly growing company with a global commercial business base. During his tenure at i-STAT, Moffitt led the company from its early research stage to commercialization with revenue of nearly $100 million and through its initial public offering to acquisition by Abbott Laboratories in 2003.

“This is a time of tremendous momentum at GlySure as we close our successful cardiac surgery ICU trial and pursue regulatory approval of our CBGM system,” said GlySure CEO Chris Jones. “Bill’s prolific experience in guiding transformative medical diagnostics and device companies through to commercialization is invaluable at this time and for the future of our company.”

Prior to i-STAT Moffitt held executive positions at Baxter Healthcare Corporation and American Hospital Supply Corporation, which Baxter acquired. He holds a B.S. from Duke University.

Company Contact: Chris Jones, CEO, GlySure. Tel: +44(0)1235 462 870.

Media Contact: Kara Della Vecchia, KDV Communications, Inc. Tel: 508-314-3127.

About GlySure:

GlySure has developed a continuous intravascular glucose monitoring system using a proprietary optical fluorescence sensor to meet the $2B+ worldwide demand for implementation of Tight Glycemic Control (TGC) in the hospital Intensive Care Unit (ICU). The company has demonstrated through ICU testing highly accurate sensors which can provide continuous glucose readings throughout the length of a patient’s stay in the ICU. GlySure was founded in 2006, it is based in Abingdon, Oxfordshire, England and it has 30 employees. The company’s products are not approved for use in the U.S. or Europe.

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