Know Labs, Inc. Names Ron Erickson Chief Executive Officer; Former CEO Phil Bosua Becomes a Technology Consultant to the Company
January 26 2023 - 8:00AM
Business Wire
Know Labs, Inc. (NYSE American: KNW), an emerging developer of
non-invasive medical diagnostic technology, today announced that
Ron Erickson, Founder and Chairman, has been unanimously named
Chief Executive Officer by the Company’s Board of Directors, while
continuing as Chairman of the Board. Former CEO Phil Bosua has
stepped down as an executive officer of the Company and Board
Member and will become a technology advisor and consultant to Know
Labs, effective immediately.
Ron Erickson is the Founder of Know Labs and has been with the
company and its predecessors for nearly 20 years. He brings 30
years of board, business development, financial and executive
leadership experience from industries including therapeutics,
mobile technologies and software.
“Thanks to Phil’s genius for invention, Know Labs’ intellectual
property portfolio is second to none in the emerging field of
non-invasive medical diagnostics,” Erickson said. “By evolving into
a technology advisory and consulting role, Phil will have the
freedom and flexibility to pursue his passion for new discoveries
in science, software, and artificial intelligence, while
participating in the value our team continues to create for
shareholders.”
As part of his technology advisory and consulting role, Bosua
will provide ad hoc technical guidance to the Know Labs product
development team. Concurrently, Know Labs will transfer certain
assets of its subsidiary AI Mind, Inc. to Bosua, who will focus on
innovation and advancements in artificial intelligence.
“Having established our Bio-RFIDTM platform technology as a new
standard for accuracy in glucose monitoring, as evidenced by our
latest patent, our focus now is accelerating product development
and testing while working toward the FDA clearance process for
medical devices,” Erickson continued. “We anticipate our work
toward this goal will accelerate in 2023, as a result of the
progress made by our team, with support from our investors. We have
recently expanded our team in product and clinical development
functions, which are critical for our 2023 activities. I’m
confident we have the right team to achieve our goals and believe
Bio-RFID will transform the medical diagnostics industry and
significantly improve the lives of millions of people
worldwide.”
“When Ron and I met, back in 2018, I was intrigued by the
opportunity to pursue the holy grail of the medical industry, a
non-invasive blood glucose monitoring medical device,” Bosua said.
“We have accomplished so much since then, and it has been an honor
to lead such a great and capable team alongside Ron. The Know Labs’
foundational technology that I invented is unique and will change
people’s lives, and I’m proud of that. My passion is to seek unique
and challenging opportunities as I have done throughout my career.
I trust that the Know Labs team has the capability to take the
technology from here and deliver the first non-invasive blood
glucose monitor into the market.”
Know Labs Board of Directors is fully supportive of this
transition and remains confident in the company’s ability to move
ahead. Bill Owens, Know Labs Board Member, stated, “We are
enthusiastic about the path forward. It is aggressive and
results-oriented, which comforts us and the shareholders we
represent. I’m looking forward to the future and what they can
accomplish as a team.”
Know Labs will continue to provide updates on progress toward
clinical trials and FDA clearance of its non-invasive glucose
monitoring devices. The company continues to test and refine
Bio-RFID’s hardware and algorithms in preparation for the FDA
clearance process. For more information on Know Labs, visit
knowlabs.co.
About Know Labs, Inc.
Know Labs, Inc. is a public company whose shares trade on the
NYSE American Exchange under the stock symbol “KNW.” The Company’s
technology uses spectroscopy to direct electromagnetic energy
through a substance or material to capture a unique molecular
signature. The Company refers to its technology as Bio-RFID™. The
Bio-RFID technology can be integrated into a variety of wearable,
mobile or bench-top form factors. This patented and patent-pending
technology makes it possible to effectively identify and monitor
analytes that could only previously be performed by invasive and/or
expensive and time-consuming lab-based tests. The first application
of our Bio-RFID technology will be in a product marketed as a
non-invasive glucose monitor. It will provide the user with
real-time information on blood glucose levels. This product will
require U.S. Food and Drug Administration clearance prior to its
introduction to the market.
Safe Harbor Statement
This release contains statements that constitute forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 and Section 27A of the Securities Act of 1933,
as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended. These statements appear in a number of places in this
release and include all statements that are not statements of
historical fact regarding the intent, belief or current
expectations of Know Labs, Inc., its directors or its officers with
respect to, among other things: (i) financing plans; (ii) trends
affecting its financial condition or results of operations; (iii)
growth strategy and operating strategy; and (iv) performance of
products. You can identify these statements by the use of the words
“may,” “will,” “could,” “should,” “would,” “plans,” “expects,”
“anticipates,” “continue,” “estimate,” “project,” “intend,”
“likely,” “forecast,” “probable,” “potential,” and similar
expressions and variations thereof are intended to identify
forward-looking statements. Investors are cautioned that any such
forward-looking statements are not guarantees of future performance
and involve risks and uncertainties, many of which are beyond Know
Labs, Inc.’s ability to control, and actual results may differ
materially from those projected in the forward-looking statements
as a result of various factors. These risks and uncertainties also
include such additional risk factors as are discussed in the
Company’s filings with the U.S. Securities and Exchange Commission,
including its Annual Report on Form 10-K for the fiscal year ended
September 30, 2022, Forms 10-Q and 8-K, and in other filings we
make with the Securities and Exchange Commission from time to time.
These documents are available on the SEC Filings section of the
Investor Relations section of our website at www.knowlabs.co. The
Company cautions readers not to place undue reliance upon any such
forward-looking statements, which speak only as of the date made.
The Company undertakes no obligation to update any forward-looking
statement to reflect events or circumstances after the date on
which such statement is made.
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version on businesswire.com: https://www.businesswire.com/news/home/20230126005294/en/
For Know Labs Media Inquiries Contact: Linhart PR Kelly
Brown kbrown@linhartpr.com Ph. (214) 725-4659
Know Labs, Inc. Contact: Jordyn Hujar jordyn@knowlabs.co
Ph. (206) 629-6414
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