Beta Bionics Appoints Martha Aronson and Sean Carney to Its Board as Independent Directors

Globe Newswire 20-Feb-2020 8:00 AM

WEST CONCORD, Mass., Feb. 20, 2020 (GLOBE NEWSWIRE) -- Beta Bionics, Inc. — a medical technology company developing and aiming to commercialize the world's first fully automated bionic pancreas system called the iLet^® today announced that Martha G. Aronson and Sean D. Carney have been appointed to the Company's Board of Directors effective immediately.

"We are all very excited and feel extremely fortunate, at Beta Bionics, to have Martha and Sean join our Board of Directors. Their experience and expertise in the commercial and financial aspects of our business are substantial, and will be invaluable assets to our Board and management team going forward," said Ed Damiano, President and CEO of Beta Bionics.  "The enthusiasm that Martha and Sean express for our mission, and the value they place in our differentiated technology, and the clinical data it has generated, has made a stong impression on the Beta Bionics team.  I am eagerly looking forward to having them join as independent board members on our journey to bringing the iLet to as many people with diabetes as possible."

Ms. Aronson brings more than two decades of leadership experience in publically traded companies in the med tech industry. She currently serves as a director on the boards of Conmed Corporation (NYSE:CNMD) and Cardiovascular Systems Inc. (NASDAQ:CSII).  She served as a director of Hutchinson Technology, Inc. from 2010 to 2016 and Methode Electronics from 2016-2019. From 2012 to 2016, Ms. Aronson served as the executive vice president and president of Global Healthcare at Ecolab, Inc., where she was responsible for the global healthcare business with a specific focus on products and programs for infection prevention. Prior to that, Ms. Aronson was senior vice president and president, North America, at Hill-Rom Holdings, where she was responsible for a $1 billion hospital equipment business.  Ms. Aronson also worked at Medtronic, Inc. in various general management and executive roles, both in the US and internationally, for 18 years. She received an MBA from Harvard Business School and a BA in Economics from Wellesley College, graduating magna cum laude and Phi Beta Kappa.

"I'm excited about the opportunity to contribute to improving the quality of life for so many people with type 1 diabetes and their families.  It is also rewarding to be part of a public benefit corporation board and a certified B corporation board," said Ms. Aronson.

Mr. Carney was previously an investment professional for approximately 20 years with Warburg Pincus, a leading global private equity firm with over $40 billion in assets under management.  Mr. Carney was active across a range of industries, with a particular focus on medical devices.  He has been a board member for over 15 privately held companies and 5 publically traded companies including, Dexcom, Tornier, and Wright Medical.  Mr. Carney received an MBA from Harvard Business School and an AB in Economics from Harvard College, graduating magna cum laude and Phi Beta Kappa.

"I look forward to working alongside the Beta Bionics Board members and dedicated management team to contribute to help bring the Company's exciting technology to market for the benefit of type 1 diabetes patients, as well as their families and physicians," said Mr. Carney.

The arrival of Ms. Aronson and Mr. Carney brings the number of board members for the Company to seven. The new members will be serving alongside Dr. Adam Steensberg from Zealand Pharma, A/S, Dr. Finny Kurivilla from Eventide Asset Management Funds, Mr. Jeff Hitchcock from Children With Diabetes, Mr. Ed Raskin from Beta Bionics, and Dr. Ed Damiano from Beta Bionics and Boston University.

About Beta Bionics

Beta Bionics^® is a for-profit Massachusetts public benefit corporation founded in 2015 to commercialize the iLet bionic pancreas system. The iLet is a revolutionary bionic pancreas that is driven by mathematical dosing algorithms, which incorporate lifelong autonomous learning to automatically control glycemia.  These mathematical dosing algorithms were developed in the Damiano Lab at Boston University and refined based on results from home-use clinical trials in adults and children with T1D.  Beta Bionics is a Certified B Corporation™ whose founders — in addition to Ed Damiano — include other parents of children with T1D and people with T1D.  Beta Bionics is committed to acting in the best interests of the diabetes community and to profoundly disrupting the diabetes medical device industry by bringing the iLet to market as expeditiously and responsibly as possible.  Beta Bionics is pursuing regulatory approval of its insulin-only bionic pancreas, followed by its dual-hormone system, which will also administer a glucagon analog in order to raise blood-sugar levels without the need to consume carbohydrates.

Beta Bionics operates in Massachusetts and California. For further information, please visit www.betabionics.com or follow Beta Bionics Facebook, YouTube, Instagram, LinkedIn and Twitter @BetaBionics.

Beta Bionics

Ed Damiano
edamiano@betabionics.com

Ed Raskin
eraskin@betabionics.com

Investor Relations Contact
Jeremy Feffer
jeremy@lifesciadvisors.com