Full Press Release Details
Industry Leader Jack Kenny Joins Biomerica's Board of Directors
BEACH, CA - August 28, 2023 - Biomerica, Inc. (NASDAQ: BMRA), a global biomedical company leading the way in innovative gastroenterology
solutions, today announced the appointment of Jack Kenny, former CEO and board member of Meridian Bioscience, Inc., to its Board of Directors.
Meridian Biosciences (formerly traded on Nasdaq under VIVO) is a leading global provider of diagnostic testing solutions. Meridian Biosciences
was acquired on January 31, 2023 by SD Biosensor, Inc. and SJL Partners LLC in an all-cash transaction valued at approximately
excited to join Biomerica's Board and contribute to the launch and growth of the company's groundbreaking product, inFoods
IBS. This product holds the potential to not only significantly improve the lives of millions of individuals dealing with IBS but
also capture the interest of larger multinational diagnostic companies. The technology's appeal extends beyond its ability to enhance
patient well-being, as it also stands to reduce healthcare costs and equip physicians with a precise, personalized approach to treating
compelling clinical study data supporting inFoods IBS has underscored its potential to deliver therapeutic benefits for
IBS patients. As I take on my role within Biomerica's board, I'm eagerly looking forward to close collaboration with the
management team. Together, we'll strive to introduce this remarkable technology to medical professionals and patients around the
world with the goal of improving healthcare outcomes while driving down costs for patients and insurers," said Mr. Kenny.
brings a wealth of commercial experience and relationships in the medical diagnostic industry. His industry insights will be invaluable
as we launch inFoods IBS both domestically and internationally," said Zack Irani, CEO of Biomerica. "Jack
brings more than 30 years of experience as a senior executive at large public companies in the healthcare, clinical laboratory and medical
device industries. Most recently, his leadership as CEO drove outstanding growth at Meridian Bioscience. Jack also brings strong public
company governance experience that will facilitate corporate oversite as our business expands and grows."
to his role as CEO at Meridian, Mr. Kenny was the Senior Vice President and General Manager, North America at Siemens Healthcare, and
before that was Vice President and General Manager, U.S. Region for Diagnostic Systems at Becton Dickinson. Throughout his career, Mr.
Kenny has held additional leadership positions of increasing responsibility including key roles at Leica Microsystems, Quest Diagnostics
and Bayer Diagnostics. He holds a Bachelor of Science in management systems from Kettering University in Michigan.
inFoods IBS test involves a simple blood collection procedure and is designed to assess a patient's above normal
immunoreactivity to specific foods. Instead of difficult to manage broad dietary restrictions, physicians can now use the inFoods
IBS information to make targeted, patient-specific recommendations about specific foods that, when removed from the diet, may alleviate
IBS symptoms such as pain, bloating, diarrhea and constipation. Further information about Biomerica's patented inFoods
Technology Platform can be found at: https://biomerica.com/inFoods/our-technology/. It is estimated that over 40 million
Americans suffer from IBS, with symptoms often triggered by consumption of specific foods (which are unique to each patient). The total
direct and indirect cost of IBS has been estimated at $30 billion annually in the United States alone.
Biomerica (NASDAQ: BMRA)
Inc. (www.biomerica.com) is a global biomedical technology company that develops, patents, manufactures and markets advanced diagnostic
and therapeutic products used at the point of care (in home and in physicians' offices) and in hospital/clinical laboratories for
detection and/or treatment of medical conditions and diseases. The Company's products are designed to enhance the health and well-being
of people, while reducing total healthcare costs. Biomerica's primarily focus is on gastrointestinal and inflammatory diseases
where the Company has multiple diagnostic and therapeutic products in development.
Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information
included in this press release (as well as information included in oral statements or other written statements made or to be made by
Biomerica) contains statements that are forward-looking, such as statements relating to the Company's inFoods IBS
test and other tests, FDA clearance or possible future clearance of the Company's inFoods IBS test and other products,
timing of the commercial launch of the inFoods IBS test, the efficacy of the inFoods product, possible future revenues
from the sale of the inFoods IBS test, growth in future revenues from the sale of the inFoods IBS test,
acceptance of the inFoods IBS test by physicians and their patients, international regulatory approval and sales of the
inFoods IBS test, accuracy, efficacy and clinical trial results of the inFoods IBS test, the rapidity
of testing results, negotiations with clinical labs who would offer the inFoods IBS test, the ability of a CLIA-certified,
high-complexity lab to offer the inFoods IBS test as a laboratory developed test (LDT), discussions with physicians and
physician groups who could or would offer the inFoods Test to their patients, efficacy of the inFoods IBS test to improve IBS symptoms
in patients, the company's ability to manufacture the inFoods IBS test as a commercial product and to increase
manufacturing capacity to meet future product demands, any future FDA marketing authorization, the uniqueness of the Company's
inFoods IBS test and other products, pricing of the Company's inFoods IBS test, future possible
insurer reimbursement for the inFoods IBS test, patent protection on the inFoods IBS and the underlying
technology of the test, or on any of the Company's other products or technologies, and current or future competition for the inFoods
IBS test from other medical manufacturers or distributors. Such forward-looking information involves important risks and uncertainties
that could significantly affect anticipated results in the future, including, without limitation: results of studies testing the efficacy
of the Company's tests and products; regulatory approvals necessary prior to commercialization any of the Company's products;
availability of the Company's test kits and other products; capacity, resource and other constraints on our suppliers; dependence
on our third party manufacturers; dependence on international shipping carriers; governmental import/export regulations; demand for our
various tests and other products; competition from other similar products and from competitors that have significantly more financial
and other resources available to them; governmental virus control regulations that make it difficult or impossible for the company to
maintain current operations; the Company's ability to comply with current and future regulations in the countries where our products
are made and sold and the Company's ability to obtain patent protection on any aspects of its rapid test technologies. Accordingly,
such results may differ materially from those expressed in any forward-looking statements made by or on behalf of Biomerica. Additionally,
potential risks and uncertainties include, among others, fluctuations in the Company's operating results due to its business model
and expansion plans, downturns in international and or national economies, the Company's ability to raise additional capital, the
competitive environment in which the Company will be competing, and the Company's dependence on strategic relationships. The Company
is under no obligation to update any forward-looking statements after the date of this release.