Medivolve Announces Appointment of David Preiner as New Chief Executive Officer

Rhea-AI Summary

Medivolve Inc. (OTC:COPRF) has appointed David Preiner as the new CEO, succeeding Doug Sommerville, who will assist during the transition. Preiner, with a background in biotechnology and successful entrepreneurship, aims to drive innovation in healthcare solutions addressing COVID-19 challenges. His dual role as CEO of Xenomics is strategically designed to optimize resources and capitalize on market opportunities. The company granted Preiner 1,000,000 stock options at $0.155 per share, effective immediately, demonstrating its commitment to his leadership.

Positive

• Appointment of David Preiner as CEO expected to bring innovative leadership.
• Preiner's experience in biotechnology and entrepreneurship could enhance strategic direction.
• Stock options granted to Preiner aligns interests with shareholder value.

Negative

• Transition from Doug Sommerville raises concerns about continuity in leadership.

TORONTO, April 30, 2021 (GLOBE NEWSWIRE) -- Medivolve Inc. (“Medivolve”) (NEO:MEDV; OTC:COPRF; FRA:4NC) a healthcare investment management company that seeks out disruptive technologies, ground-breaking innovations and exclusive partnerships to help combat COVID-19, today announced that David Preiner has been appointed Chief Executive Officer (CEO), effective immediately. Preiner will succeed Doug Sommerville, who will assist as a transitionary advisor to the new CEO. As Medivolve’s CEO, Preiner will lead a team of computer scientists, engineers, and physicians to build a next-generation, data-driven healthcare system set to transform human health management across the United States.

Harvard educated BLA candidate in Biology, Preiner is experienced in the intersectionality of biotechnology, artificial intelligence and nanotechnology to accelerate translational science and molecular discovery. Successful entrepreneur with a track record in bootstrapping, leading and scaling startups into multimillion dollar companies, Preiner’s appointment reflects Medivolve’s commitment to searching for and investing in breakthrough sciences, technologies, research, and resolutions to shape the future of healthcare. 

“It’s been a great privilege to lead Medivolve and to have overseen the company’s transformation from investment issuer to a leader in disruptive medical technologies focused on the prevention, detection and treatment of COVID-19, and future delivery of medical technology and services,” said Doug Sommerville, former CEO and ongoing Medivolve advisor. “David’s appointment comes at a critical inflection point in Medivolve’s evolution, and we are thrilled to have someone with such a unique blend of proven scientific and entrepreneurial experience build on the company’s momentum and take advantage of the market opportunities ahead.”

Preiner will serve concurrently as CEO of Xenomics, a private biotechnology company he founded in 2019, where he leads a PhD-level team focused on advancing breakthroughs in genetics and biomanufacturing to combat global sustainability issues in food, energy, and health. Preiner’s role as CEO of Medivolve and Xenomics is a strategic decision structured to enable both companies to capitalize on opportunities to leverage high-performance computing partnerships and talent, while drastically reducing capital requirements.

“I am incredibly excited and honored to lead our mission-driven company into the next wave of growth,” said David Preiner, CEO, Medivolve. “It has been a formative year for almost every person on the planet. Confronted with the reality of a fragile societal infrastructure and gaping health disparities, the COVID-19 pandemic magnified an already existing need to reimagine how healthcare is designed, offered and customized to align with the world we live in and the unique needs of the people who live in it. We have a tremendous opportunity here at Medivolve to leverage emerging technologies, scientific discoveries and data-driven insights to transform and sustainably manage American healthcare for the long-term.”

Prior to joining Medivolve, Preiner led a series of academic projects, successful startups, and philanthropic endeavors. At Biotii Technologies, he worked to unlock the therapeutic potential of synthetic cannabinoids in treating a broad range of disease conditions. As an academic, Preiner earned accolades as the Microsoft Prize Winner at Hack Harvard in 2015, Intel Prize Winner at Stanford TreeHacks in 2016, and 3rd Place Winner at Yale Hack Health in 2016. While pursuing his studies at Harvard, he worked as a clinical technician in the Neurology Department at Boston Children's Hospital. Before resuming his education, he co-founded, led and successfully grew four startups. 

Outside of healthcare innovation, Preiner is also known for his humanitarian work. In the wake of the 2010 Haitian earthquake, he took on leadership roles in partnership with local NGOs to distribute fresh water and rebuild and restore nearly 15 schools. 

Sommerville is stepping down as Medivolve CEO and a director to pursue personal interests and to focus on his board and advisory roles.

The Company has granted 1,000,000 stock options to Preiner pursuant to the Company’s stock option plan. The stock options vest immediately and may be exercised at a price of $0.155 per common share for a period of five years from the date of grant.

About Medivolve Inc.
Medivolve Inc. (NEO:MEDV; OTC:COPRF; FRA:4NC) focuses on commercializing technologies to help combat the COVID-19 pandemic. This includes providing convenient and accessible medical services for testing, prevention and treatment. Medivolve is comprised of a team of renowned global medical and business advisors who are committed to helping fulfill Medivolve’s mission of searching for and investing in breakthrough sciences, technologies, research or resolutions to empower the betterment of mankind. This panel includes prominent Stanford neurologist and immunologist Dr. Lawrence Steinman as well as Dr. Glenn Copeland, one of North America’s most prominent orthopedic treatment and sports medicine specialists. Through its braintrust of industry specialists, thought leaders, influencers, and opinion makers, Medivolve has also developed a proprietary strategy to capitalize on high-margin opportunities across three areas: the prevention, detection, and treatment of COVID-19.

For investing inquiries, please contact: 
info@medivolve.ca  
  
For U.S. media inquiries, please contact: 
Sophia Powe 
sophia@therelentlesscollective.com 

Cautionary Note Regarding Forward-looking Information 
  
This press release contains "forward-looking information" within the meaning of applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the appointment and resignation of officers and directors; the pursuit by Medivolve of opportunities; and the merits or potential returns of any such opportunities. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company, as the case may be, to be materially different from those expressed or implied by such forward-looking information. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. The Company does not undertake to update any forward-looking information, except in accordance with applicable securities laws. 
  
NEITHER THE NEO EXCHANGE NOR ITS REGULATION SERVICES PROVIDER HAS REVIEWED OR ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. 

FAQ

Who is the new CEO of Medivolve as of April 2021?

David Preiner has been appointed as the new CEO of Medivolve effective April 30, 2021.

What are the qualifications of Medivolve's new CEO?

David Preiner has a background in biotechnology, artificial intelligence, and successful startup leadership.

What changes in leadership has Medivolve announced?

Doug Sommerville has stepped down as CEO and will become a transitionary advisor to David Preiner.

What is the significance of stock options granted to David Preiner?

Preiner received 1,000,000 stock options at $0.155 per share, aligning his interests with the company's growth.

How might David Preiner's appointment impact Medivolve's future?

Preiner's expertise is expected to drive innovation and address critical healthcare challenges, particularly related to COVID-19.