VANCOUVER, BC – March 15, 2021 – Izotropic Corporation (“Izotropic”) (CSE: IZO) (OTCQB: IZOZF) (FSE: 1R3), a company developing 360-degree, high-resolution 3D dedicated breast CT imaging technology for the earlier detection and diagnosis of breast cancers, announces that its Board of Directors has appointed Dr. John McGraw as Chief Executive Officer, effective April 5, 2021. Dr. McGraw previously held the position of Executive Vice President of Commercial Operations with Izotropic.
Also, effective April 5, 2021, Robert Thast has resigned from his position as President and Chief Executive Officer and will remain a Director and Special Advisor to Izotropic.
“Izotropic is one of those rare companies with an imaging technology that can dramatically improve a patient’s experience with breast cancer detection. I am honored to work with incredibly talented people who are all focused on improving breast cancer outcomes. In my work with the company over the past year, it has been clear that there is tremendous enthusiasm from patients, doctors, and clinics, which suggests strong market demand for our future products,” said Dr. McGraw. “We are executing and continue to move forward with confidence due to the strong foundations Mr. Thast has built. He has developed a truly impressive medical device company with strong business and scientific leadership, achieved the issuance of key patents, and has the company’s development efforts well underway. I look forward to continuing to work with him as we enter our next stages of development.”
Dr. McGraw has 21 years of experience in the medical device field, including previous senior executive roles as Vice President of Operations for Novadaq Technologies Inc. (NASDAQ: NCVQ), a medical device imaging company that was acquired by Stryker Corporation for U.S. $701M in 2017. He was also Senior Vice President Business Development & Strategy for CML HealthCare Inc (TSX: CLC), one of Canada’s largest medical imaging service and laboratory medicine providers, which was acquired for CA$1.2B in 2013.
“I can think of no one better to move Izotropic forward through to commercialization than John McGraw,” said Robert Thast, CEO. “Over the past year, he has steadily advanced development in all key operational areas, demonstrating expertise and multi-disciplinary management capabilities in areas of product development, clinical studies, regulatory and reimbursement processes, manufacturing, sales, and marketing. He has all of the tools and resources required, including an extensive database of contacts at all levels within the industry to draw upon going forward. With his overall experience running medical device companies and a track record with billion-dollar acquisitions, I am confident in his ability to continue to grow the company and commercialize IZOview Breast CT”.
ON BEHALF OF THE BOARD
About Izotropic Corporation
Izotropic Corporation is commercializing dedicated breast CT imaging technology for the earlier detection, diagnosis and treatment of breast cancers. Extensive preliminary studies have found that breast CT may be able to routinely detect small breast tumors in the 3-5 mm size range. The median size of breast cancer found using mammography is approximately 11 mm. Routine detection of 3 mm lesions would result in 1.5 year earlier detection over mammography.
The initial indication for use for breast CT as a diagnostic device has been confirmed. Forthcoming business objectives include identifying additional indications for use, development of accessories, and additional products, all aimed at making breast CT an indispensable tool for improving the outcomes of breast cancer.
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