Microvisk Technologies, developer of the patented technology for point-of-care monitoring of blood coagulation disorders in patients taking the drug Warfarin, is pleased to announce the appointment of Dr. Ed Brennan as Chairman of the Board. Dr. Brennan brings valuable experience from his time as Chairman of Hemosense, prior to its sale to Inverness Medical Innovations (AMEX: IMA).
A spin-out company of the Science and Technology Facilities Council (STFC), Microvisk became an independent company in 2004 with initial backing from Rainbow Seed Fund. Microvisk has recently secured investment worth £1.2m, including investments from Porton Capital Group and the Advantage Growth Fund enabling the company to further develop its technology that will provide rapid, point-of-care and home testing for blood clotting analysis, with laboratory accuracy.
Microvisk’s technology means that a doctor will be able to perform a blood coagulation test by measuring the viscosity, or thickness, of blood in a patient with just a pin-prick from his own surgery. This provides an easier, quicker and less intrusive approach to measure whether a patient is receiving the correct treatment dosage of Warfarin. The market for testing patients on Warfarin has a global value at over $5bn.
Dr. Brennan was an original investor in HemoSense Inc., the company that developed and commercialized the INRatio for monitoring warfarin therapy. He also served as Chairman of the Board of HemoSense from 2002 until 2007 when the Company was sold to Inverness Medical Innovations (AMEX: IMA). Dr. Brennan also served as President and CEO of CryoCor, (NASDAQ, CRYO) a US company specialising in the treatment of cardiac rhythm disorders. Dr. Brennan holds significant experience in the medical device industry as well as in the investment and venture funding of early stage technology companies and product development. His current Board positions include Kilroy Realty Corporation, where he is Chairman of the Compensation Committee, Chemrisk, LLC and the Board of Trustees for Goucher College of Baltimore, Maryland.
Commenting on the appointment, John Curtis C.E.O. of Microvisk said:
“We are very pleased that Ed has recognised the opportunity that the Microvisk Technology represents and has agreed to take the position of Chairman at this exciting time in the Company’s evolution. Ed brings with him a wealth of experience in many areas of company and product development and most particularly, as Chairman of HemoSense, was integrally involved in the building of the Company until its final sale to Inverness Medical for $265m.”
