Modular Medical Relocates to Larger Corporate Headquarters
Modular Medical, Inc. (OTCQB:MODD) announced the relocation to a new 7,300 square foot headquarters in San Diego, CA, enhancing R&D capabilities for insulin pump development. The facility features a clean-room manufacturing environment and environmentally controlled test labs, crucial for upcoming 510(k) submission and increased testing activity. With a current staff of 20 and plans to hire for key positions, Modular Medical aims to expand access to advanced diabetes technology for underserved markets. CEO Paul DiPerna emphasized the strategic timing of this move amidst ongoing technology validation.
- New 7,300 sq. ft. headquarters enhances R&D and testing capabilities.
- Clean-room environment improves low-volume manufacturing and efficiency.
- Access to a local talent pool fosters growth and innovation.
- Plans to expand staffing support increased operational needs.
- None.
The 7,300 square foot facility features a clean-room manufacturing environment and environmentally controlled test labs
SAN DIEGO, CA / ACCESSWIRE / March 16, 2021 / Modular Medical, Inc. (OTCQB:MODD), a development-stage company focused on the next generation of easy to use, affordable insulin pumps to expand access to high end insulin delivery technology to a large, underserved portion of the diabetes market, today announced it has relocated to a new corporate headquarters building in San Diego CA. The larger facilities accommodate expanded staffing to enable the increased level of R&D and testing activity necessary to support the company's 510(k) submission later this year.
"A clean room environment for low-volume component manufacturing adds a valuable dimension to support our R&D efforts," said Marc Goldman, Vice President of R&D at Modular Medical. "Additionally, access to an in-house environmentally controlled test lab gives our engineers capability to run on-demand accuracy validation studies. This gives us an important efficiency we wouldn't otherwise see," he added.
By choosing to remain in the greater San Diego area, an established center of medical device and healthcare innovation, the company maintains access to a rich talent pool of professionals across an array of technical disciplines. The company currently has a staff of 20 and plans to fill several additional key positions in the coming months.
"I'm pleased to see how much we've grown as a team and as a company," said Paul DiPerna, the founder and Chief Executive Officer of Modular Medical. "Our move came at a pivotal time in the development of our technology. With the completion of our design and ongoing validation of our interface and feature set, we are now well positioned to begin the extensive testing and usability that regulatory bodies require."
About Modular Medical, Inc.
Modular Medical, Inc. (OTCQB:MODD) is a development-stage diabetes technology company based in San Diego CA. Working from an innovative set of patented technologies, Modular seeks to expand access to high end diabetes technologies to the neglected majority of the diabetes market. These people have been poorly served by the existing options that are often too expensive and complex to drive broad adoption. Modular Medical's novel approach is to provide care at a level of cost and complexity not for "superusers" but for "the rest of us". Modular Medical was founded by CEO Paul DiPerna, a seasoned medical device professional and world-class microfluidics engineer. Mr. DiPerna was previously the founder (in 2005) of Tandem Diabetes (TNDM) and invented and designed their T:slim insulin pump.
More information is available at https://modular-medical.com.
Forward-Looking Statements
This press release may contain forward-looking statements about Modular Medical, including, without limitation, the timing of its FDA submission and hiring plans. Forward-looking statements are based on certain assumptions and expectations of future events that are subject to risks and uncertainties. Such statements are made in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited to, the company's ability to make its 510(k) submission and fill positions during 2021 and other risks identified in the company's most recent reports on forms 10-Q and 10-K filed with the Securities and Exchange Commission, as well as other reports that the company files from time to time with the Securities and Exchange Commission. Modular Medical undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future.
All trademarks mentioned herein are the property of their respective owners.
CONTACT:
Investor Relations
Modular Medical, Inc.
+1 (858) 800-3500
IR@modular-medical.com
SOURCE: Modular Medical, Inc.
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