Guardion Health Sciences (NASDAQ:GHSI)
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2 Months : From Dec 2019 to Feb 2020
Guardion Health Sciences, Inc. (“Guardion” or the “Company”) (Nasdaq: GHSI), a leader in the field of ocular health technologies and products, announced that it has hired John P. Troup, PhD to serve as President of the Company’s NutriGuard business line, which was acquired by the Company effective as of September 20, 2019. The NutriGuard business, with a 30-year operating history, is expected to provide the Company with a direct-to-consumer (“DTC”) capability. The Company’s objective is to develop NutriGuard into a globally-recognized and respected, physician-preferred nutraceuticals brand.
Dr. Troup is a dynamic, innovative and experienced executive with an extensive management background working at market-leading healthcare companies in the health, food and nutritional supplement segments. With a proven 25-year track record of directing commercially successful growth initiatives, Dr. Troup has been able to establish effective product and brand differentiation in various highly-competitive Consumer Packaged Goods (“CPG”) categories.
Michael Favish, Guardion’s Chief Executive Officer, commenting on the appointment of Dr. Troup, said “NutriGuard represents a key component of Guardion’s plans to develop and expand its nutraceutical portfolio in 2020, and we are delighted to have an executive of Dr. Troup’s caliber and reputation joining our team to lead this endeavor.”
About Guardion Health Sciences, Inc.
Guardion® is an ocular health sciences company that develops, formulates and distributes condition-specific medical foods supported by evidence-based protocols, with an initial medical food product that addresses a depleted macular protective pigment, a known risk factor for age-related macular degeneration (“AMD”), and a significant component of functional vision performance. Guardion® has also developed a proprietary medical device, the MapcatSF®, which accurately measures the macular pigment density, therefore providing the only two-pronged evidence-based protocol for the treatment of a depleted macular protective pigment.
VectorVision® specializes in the standardization of contrast sensitivity, glare sensitivity, low contrast acuity, and ETDRS acuity vision testing. Its patented standardization system provides the practitioner or researcher the ability to delineate very small changes in visual capability, either as compared to the population or from visit to visit. VectorVision®’s CSV-1000 device is considered the standard of care for clinical trials. VectorVision® is a wholly-owned subsidiary of Guardion.
Guardion has completed development of the proprietary VectorVision® CSV-2000 standardized contrast sensitivity test and recently introduced the commercial product to the marketplace. The CSV-2000 is the only computer-generated vision testing instrument available that will provide the optical marketplace with the Company’s proprietary, industry-standard contrast sensitivity test, along with a full suite of standard vision testing protocols. The proprietary standardization methodology incorporated into the CSV-2000 includes a patented technology known as AcQvizTM that automatically and constantly measures and adjusts screen luminance to a fixed standard light level for vision testing.
NutriGuard formulates high-quality, scientifically-credible nutraceuticals, which are designed to supplement consumers’ diets and assist in treating/preventing diseases. NutriGuard uses pharmaceutical standards to establish the safety and efficacy of the products it develops and markets, and also maintains that commitment through rigorous manufacturing and quality assurance programs. Guardion’s plan is to increase NutriGuard’s existing customer base and build on its product platform by making NutriGuard products available to patients directly and through recommendations by their physicians.
Forward-Looking Statement Disclaimer
Certain statements in this press release are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements involve unknown risks and uncertainties that may individually or materially impact the matters discussed herein for a variety of reasons that are outside the control of the Company, including, but not limited to, the Company’s ability to raise sufficient capital on a timely basis in order to implement its business plan and its ability to successfully develop and commercialize its proprietary products and technologies. Readers are cautioned not to place undue reliance on these forward-looking statements, as actual results could differ materially from those described in the forward-looking statements contained herein. Readers are urged to read the risk factors set forth under the caption “Risk Factors” in the Company’s’ Annual Report on Form 10-K for the year ended December 31, 2018 and the Company’s other filings made with SEC, which are available at the SEC’s website (www.sec.gov). Forward-looking statements included herein are made as of the date hereof, and the Company does not undertake any obligation to update publicly such statements to reflect subsequent events or circumstances.
Investor Relations Contact: Matthew AbenantePorter, LeVay & Rose Telephone: (212) 564-4700 E-mail: firstname.lastname@example.org