Full Press Release Details
Modular Medical Announces Diabetes Industry
Veteran Duane DeSisto Will Join the Board of Directors
SAN DIEGO, CA / ACCESSWIRE / July
6, 2023 / Modular Medical, Inc. (the "Company" or "Modular Medical") (Nasdaq: MODD), a development
stage insulin delivery technology company seeking to launch the next generation of easy to use and affordable insulin pump technology,
today announced the appointment of medical device industry leader Duane DeSisto to its board of directors. Mr. DeSisto was previously
President, CEO and Director of Insulet Corporation, developers of the groundbreaking OmniPod Insulin Management System, before retiring
"Duane brings more than 25 years of experience in the medical
device industry and is a visionary business leader credited with the launch and transformational growth of Omnipod, the first insulin
patch pump from Insulet," said Jeb Besser, CEO of Modular Medical. "Duane's extensive background in operational
leadership and commercialization of insulin pumps will be an extremely valuable resource for our team, as we prepare to launch our
Mr. DeSisto will partner with Paul DiPerna, Modular Medical's
founder and the former CEO of Tandem Diabetes. "I am excited to have Duane join our board, as I believe his strategic leadership
and market development expertise, and our combined experience leading the commercialization of the two industry-leading pumps will create
tremendous momentum for Modular Medical," said Mr. DiPerna.
Mr. DeSisto served as President and CEO of Insulet from 2001
to 2014, where he led the creation and commercial adoption of the Company's debut product, OmniPod, the world's first tubing-free disposable
insulin pump. Under Mr. DeSisto, Insulet grew from an early-stage company to a market cap of more than $2 billion and
was nationally recognized for its technology design and rapid growth, including being listed fourth on Forbes' "Most Innovative
Growth Companies" in 2014 with five-year average sales growth of 47 percent. Prior to that, he served as Chief Financial Officer
of AAI-Foster Grant and Zoll Medical Corporation.
"I look forward to working with Paul, the board and leadership
team to launch this novel, easy to use affordable pump that will clearly open the market to many more patients and improve diabetes outcomes,"
About Modular Medical
Modular Medical, Inc. (Nasdaq:MODD) is a development-stage medical
device company that intends to launch the next generation of insulin delivery technology. Using its patented technologies, the company
seeks to eliminate the tradeoff between complexity and efficacy, thereby making top quality insulin delivery both affordable and simple
to learn. Our mission is to improve access to the highest standard of glycemic control for people with diabetes taking it beyond "superusers"
and providing "diabetes care for the rest of us."
Modular Medical was founded by Paul DiPerna, a seasoned medical device
professional and microfluidics engineer. Prior to founding MODD, Mr. DiPerna was the founder (in 2005) of Tandem Diabetes and invented
and designed its t:slim insulin pump. More information is available at https://modular-medical.com.
Forward-Looking Statements
This press release contains forward-looking statements that are made
pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are subject
to risks, trends, and uncertainties that could cause actual results to be materially different from the forward-looking statements contained
in this press release. These factors include, but are not limited to, market and other conditions, whether the Company can successfully
develop the Company's proprietary technologies and whether the market will accept the Company's products and services, and the impact
of COVID-19, general economic, industry or political conditions in the United States or internationally as well as other risk factors
and business considerations described in the Company's SEC filings, including its annual report on Form 10-K. Any forward-looking statements
in this press release should be evaluated in light of these important risk factors. In addition, any forward-looking statements included
in this press release represent the Company's views only as of the date of its publication and should not be relied upon as representing
its views as of any subsequent date. The Company assumes no obligation to update these forward-looking statements, except as required
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Chief Executive Officer
Modular Medical, Inc.