(ST. LOUIS, MO – November 17, 2015) – St. Louis-based MediBeacon™ Inc., maker of a proprietary noninvasive real-time monitoring system for kidney function, today announced the appointment of Dr. Steven B. Miller as an independent director, effective immediately.
Dr. Miller joins MediBeacon co-founders Steven J. Hanley and Richard B. Dorshow, Ph.D., and Pansend Life Sciences LLC managing directors David Present, M.D., and Cherine Eldumiati Plumaker, on the board. Dr. Miller is currently the chief medical officer of Express Scripts (NASDAQ MKT: ESRX).
“We are fortunate to have Dr. Miller join MediBeacon’s board of directors,” said Steven J. Hanley, MediBeacon’s CEO. “In addition to being a respected business leader and executive, Dr. Miller is a recognized researcher and clinician in the field of kidney health. He is uniquely qualified to help MediBeacon reach its goals.”
MediBeacon announced in August that it had entered into an agreement with Pansend Life Sciences LLC. Pansend Life Sciences, an indirect, wholly owned subsidiary of HC2 Holdings, Inc. (NYSE MKT: HCHC), agreed to provide $22.4 million in staged financing.
The MediBeacon Renal Function System uses an optical skin sensor, combined with a proprietary agent that glows in the presence of light. It provides clinicians continuous real-time monitoring of a patient’s kidney function. MediBeacon presented results of initial human clinical trials at the American Society of Nephrology Kidney Week meetings earlier this month.
In addition, MediBeacon has an extensive portfolio of light-activated agents that are the foundation for a pipeline of potential medical innovations.
About MediBeacon Inc.
MediBeacon was co-founded in 2012 by Steven J. Hanley and Dr. Richard B. Dorshow to acquire the optical diagnostics and therapeutics program from Mallinckrodt. Mr. Hanley, former president of Covidien Mallinckrodt’s Imaging Solutions business unit, is MediBeacon’s CEO. Dr. Dorshow, who established and led development of the optical diagnostics and therapeutics program at Mallinckrodt, is MediBeacon’s chief scientific officer. The company holds numerous patents on its light-activated agents, which are the foundation of MediBeacon’s technology platform. Learn more about MediBeacon at www.medibeacon.com.
About HC2 Holdings, Inc.
HC2 Holdings, Inc. is a publicly traded (NYSE MKT: HCHC), diversified holding company, which seeks to acquire and grow attractive businesses that generate sustainable free cash flow. HC2 has a diverse array of operating subsidiaries across a broad set of industries, including, but not limited to, telecom/infrastructure, large-scale U.S. construction, energy, subsea services and life sciences. HC2 seeks opportunities that generate attractive returns and significant cash flow in order to maximize value for all stakeholders. Currently, HC2's largest operating subsidiaries are Schuff, a leading structural steel fabricator in the United States, and Global Marine, a leading global offshore engineering company focused on subsea cable installation and maintenance. Founded in 1994, HC2 is headquartered in Herndon, Virginia.
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