MAHWAH, N.J.--(BUSINESS WIRE)--March 31, 2004--DOBI Medical International, Inc. (“DBMI.OB”) announced today that a number of new senior executives have been added to the senior management group of the Company. These new executives position the Company for sustained growth and accomplishment in the months ahead.
Commenting on the expansion of the senior management team, DOBI Medical International President and CEO Phillip C. Thomas said, “It is exciting to assemble such an experienced, knowledgeable, and motivated group of senior managers. When you combine these new arrivals with the current members of the senior management team, we have the full range of senior management experience and talent we need to successfully carry out our plans for expansion during 2004 and beyond.”
The following individuals have been appointed to their respective positions.
Denis A. O’Connor has been named Senior Vice President, Sales and Marketing of DOBI Medical. Mr. O’Connor has over 20 years of experience in the medical device and diagnostic imaging industry and has held senior leadership positions in several well-known companies. He most recently served as Chief Executive Officer and Chairman of Advanced Imaging Technologies, an ultrasound medical imaging company. Prior to that, he served in senior management positions at Lockheed/Martin Medical Systems, Sony Medical Systems, Philips Medical Systems, and Konica Medical Corporation. Mr. O’Connor received his MBA from Stern School of Business and his BS from City University of New York. Denis will lead efforts to develop an international distribution network, create a support infrastructure for distributors, and implement a broad-based marketing effort for the ComfortScan(TM) system after regulatory approval is obtained.
Angelo Secci, MD is Vice President, Clinical Research. Dr. Secci has worked in clinical development for the past 10 years in various university, biotechnology, and pharmaceutical industry settings. Prior to joining DOBI Medical International, Dr. Secci served as Senior Associate Director, Clinical Development at Berlex Laboratories in the field of angiogenesis for the treatment of cardiovascular disease. Previously, he served as Senior Clinical Scientist at Pfizer where he was also involved in the development of an angiogenic product for the treatment of cardiovascular disease. Before joining the pharmaceutical industry, Dr. Secci served as Research Associate and Technical Director at the South Bay Heart Watch, at the Torrance UCLA Medical Center, where he participated in clinical research projects in the fields of coronary calcium imaging and cardiovascular disease. Dr. Secci received his degree in medicine and surgery from the University of Rome “La Sapienza” Italy. Dr. Secci is responsible for all clinical research activities and serves as the Company’s medical interface to the FDA.
Bob Sohval, PhD is Vice President, Research and Development. Dr. Sohval has worked in the diagnostic imaging industry for more than 25 years and has held executive leadership positions in several private and public companies. Dr. Sohval has been involved in system design and product development of innovative digital radiography detectors, advanced breast imaging systems, high performance CT scanners, and holds nine patents in medical imaging. He has a BS and PhD in Physics, both from M.I.T., and has completed the Advanced Management Program at the Harvard Business School. As senior technologist, Bob will lead the Company’s efforts to complete the current development for the ComfortScan(TM) system and continue efforts on next generation versions.
Sal A. Lucia has been named Director of Operations. Mr. Lucia has over 20 years of operational experience in the medical imaging and capital equipment industries. Most recently, Mr. Lucia served as Director of Operations for Lorad, a subsidiary of Hologic Corporation, where he directed manufacturing operations. Prior to Hologic, Mr. Lucia served in a variety of executive positions with several industry-leading firms, including Westinghouse. Sal holds a BA in Economics from Clemson University and is past president and current board member of NAPM (National Association of Purchasing Management), Seven Counties Affiliate. Sal has responsibility for all manufacturing activities of the ComfortScan(TM) system in the United States and abroad.
DOBI Medical International is an advanced development stage medical imaging company working to create a new means for the improved diagnosis of cancer through the detection of vascular changes (“tumor angiogenesis”) associated specifically with malignant tumors.
DOBI Medical’s first application of the technology is the ComfortScan(TM) system, a non-invasive, non-ionizing, and pain-free optical imaging system designed to assist physicians in the improved detection of breast cancer. The ComfortScan(TM) system is intended to achieve this by providing new, physiology-based imagery of vascular changes in the breast which are not readily available today.
Cautionary Statement Regarding Forward-Looking Statements
This release may contain information that includes or is based upon certain “forward-looking statements” within the meaning of the Securities Litigation Reform Act 1995, relating to the business of DOBI Medical. These forward-looking statements represent management’s current judgment and assumptions and can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements are frequently accompanied by the use of such words as “anticipate,” “plans,” “believes,” “expects,” “project, “intends,” or similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties, including uncertainties relating to our ability to secure additional financing; success of product development efforts; our ability to timely meet government and industry regulations and standards; delays in the manufacturing process caused by our inabilities or the inability of our subcontractors to timely meet our specifications; our ability to establish international and domestic distribution networks; our ability to timely export our products to international markets; acceptance of the ComfortScan(TM) system as an adjunct to mammography by physicians, imaging clinics, and patients; our ability to obtain third-party payer reimbursement; and our ability to compete on price and quality. Any one of these or other risks and uncertainties may cause actual results to be materially different from those described herein or elsewhere by us. Certain of these risks and uncertainties are or will be described in greater detail in our Annual Report on Form 10-KSB filed on February 18, 2004, and in our filings with the Securities and Exchange Commission, which we strongly urge you to read. Subsequent written and oral forward-looking statements attributable to us or to persons acting on our behalf are expressly qualified in their entirety by the cautionary statements and risk factors set forth above and elsewhere and in our reports filed with the Securities and Exchange Commission. We expressly disclaim any intent or obligation to update any forward-looking statements.
Contacts
DOBI Medical International, Inc., Mahwah Michael R. Jorgenson, 201-760-6464 201-760-8860 Fax www.dobimedical.com
