Message #30 From:
Stock News Bot Date: December 6, 2006 07:44:00 AM
CEMI News Chembio's Avi Pelossof Joining Inverness
NEW YORK--(BUSINESS WIRE)--(OTCBB:CEMI) - Avi Pelossof, Chembio’s Vice
President of Sales, Marketing and Business Development, has resigned
from Chembio to accept a new position that is being created at Inverness
Medical Innovations, Inc. (AMEX:IMA) in which he will have global
responsibility for all of Inverness’HIV and
other blood borne virus rapid tests and related products. Notably, this
responsibility will include development and implementation of the
marketing strategy for Chembio’s rapid HIV
tests products in the United States and other markets pursuant to the
marketing agreements Inverness announced with Chembio in October. Mr.
Pelossof’s transition to Inverness will occur
during January, 2007.
Larry Siebert, President and CEO of Chembio, commented, “Avi
Pelossof has been a valuable member of our team for many years, and he
remains a good friend and significant shareholder of Chembio. Given our
agreements with Inverness and Avi’s knowledge
of the market, I believe he will be in a position to bring a lot of
value to both Inverness and Chembio in his new position. As a result of
this development, the marketing role that Inverness has for our HIV
tests, and the growing opportunities for our DPP™
technology, we are assessing our current marketing organization and what
our requirements will be going forward.”
Ron Zwanziger, CEO of Inverness Medical Innovations, commented, “We
are very excited to have Avi join us and we look forward to his
contributions to develop and implement our marketing strategy for HIV
rapid tests in the U.S. and other markets as part of our ongoing
relationship with Chembio to commercialize HIV technology. “
ABOUT CHEMBIO
Chembio Diagnostics, Inc., a developer and manufacturer of rapid
diagnostic tests for infectious diseases, is on the frontlines of the
global battle against the AIDS pandemic. The Company has received
marketing approval from the FDA for its SURE CHECK®HIV 1/2 and HIV 1/2 STAT-PAK™ rapid tests.
The Company also manufactures rapid tests for veterinary Tuberculosis
and Chagas Disease, and has developed a patent-pending technology, the
Dual Path Platform (DPP™), for its next
generation HIV and other rapid tests. For additional information please
visit www.chembio.com.
FORWARD-LOOKING STATEMENTS
Statements contained herein that are not historical facts may be
forward-looking statements within the meaning of the Securities Act of
1933, as amended. Forward-looking statements include statements
regarding the intent, belief or current expectations of the Company and
its management.Such statements are estimates only, as the
Company has not completed the preparation of its financial statements
for those periods, nor has its auditor completed the audit of those
results. Actual revenue may differ materially from those anticipated in
this press release. Such statements reflect management's current views,
are based on certain assumptions and involve risks and uncertainties.
Actual results, events, or performance may differ materially from the
above forward-looking statements due to a number of important factors,
and will be dependent upon a variety of factors, including, but not
limited to Chembio's ability to obtain additional financing, to obtain
regulatory approvals in a timely manner, and the demand for Chembio's
products. Chembio undertakes no obligation to publicly update these
forward-looking statements to reflect events or circumstances that occur
after the date hereof or to reflect any change in Chembio's expectations
with regard to these forward-looking statements or the occurrence of
unanticipated events. Factors that may impact Chembio's success are more
fully disclosed in Chembio's most recent public filings with the U.S.
Securities and Exchange Commission.
