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8-K - FORM 8-K - UNIVERSAL BIOSENSORS INC | w79817e8vk.htm |
Exhibit 99.1
Universal Biosensors Pty Ltd ABN 35 098 234 309 1 Corporate Avenue Rowville VIC 3178 Australia Telephone +61 3 9213 9000 Facsimile +61 3 9213 9099 Email secretary@universalbiosensors.com www.universalbiosensors.com |
9 September 2010
Universal Biosensors Announces Retirement of Mark Morrisson
Mr. Morrisson announced today his decision to retire as Chief Executive Officer of Universal
Biosensors, Inc. (ASX: UBI) and to resign from the Companys Board of Directors.
Mr. Morrisson noted that with the launch of the LifeScan OneTouch® Verio in the
Netherlands in January 2010 and the launch last week in Australia, Universal Biosensors has
completed a transformational step in its development. He noted that as the Company is now at an
inflection point and that as the Company transitions to a substantial operating business, a
different set of skills was now more appropriate to facilitate the further growth.
Mr. Morrisson emphasized his desire to focus on new opportunities in earlier stage companies saying
I have thoroughly enjoyed leading Universal Biosensors through the development stage to where it
is now and would like to find a similar opportunity to do it again.
Mr. Morrisson will continue to assist the Company in its corporate development efforts for a
transitional period of time.
An international executive search has commenced and until a new Chief Executive Officer is
appointed, the Chairman, Mr. Andrew Denver, will assume the role of Executive Chairman and interim
Chief Executive Officer.
On behalf of the Board of Directors, Shareholders and employees, Mr. Denver would like to thank
Mark for his leadership and drive in bringing Universal Biosensors to this successful stage of
development as seen with the launch in Australia of the OneTouch® Verio, in partnership
with LifeScan.
Ends
Enquiries:
Mr Andrew Denver: 03 9213 9000
Mr Andrew Denver: 03 9213 9000
About Universal Biosensors
For additional information in relation to Universal Biosensors, refer to
http://www.universalbiosensors.com/announcements.html.
Universal Biosensors is a specialist medical diagnostics company, founded in 2001, that is focused
on the development, manufacture and commercialisation of a range of in vitro diagnostic tests for
point-of-care use. These tests capitalize on a technology platform which uses a novel
electrochemical cell that can be adapted for multiple analytes and provide for enhanced
measurements in whole blood.
Universal Biosensors Pty Ltd ABN 35 098 234 309 1 Corporate Avenue Rowville VIC 3178 Australia Telephone +61 3 9213 9000 Facsimile +61 3 9213 9099 Email secretary@universalbiosensors.com www.universalbiosensors.com |
Universal Biosensors first product, developed in conjunction with LifeScan, Inc, is a next
generation test for diabetics to self monitor blood glucose. The product features market leading
accuracy and was launched in The Netherlands in January 2010. The relationship with LifeScan, Inc.
dates from 2001. In 2009 the two companies entered an updated Master Services and Supply Agreement
under which Universal Biosensors agreed to be a non-exclusive manufacturer of blood glucose sensor
strips.
Universal Biosensors is currently developing other point-of-care blood tests from its technology
platform, which it intends to partner in due course.