REG - Spectral MD Holdings - Appointment of CFO

Spectral MD HoldingsAnnouncement

01/12/2021 07:00

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RNS Number : 0963U  Spectral MD Holdings, Ltd.  01 December 2021

1 December 2021

Spectral MD Holdings, Ltd

("Spectral MD" or the "Company" or the Group")

 

Appointment of Chief Financial Officer

 

Former KCI (Acelity), 3M and Siemens Healthcare Vice President Nils Windler
joins Spectral MD

 

LONDON, U.K AND DALLAS, TX, U.S. - Spectral MD Holdings, Ltd. (AIM: SMD), a
predictive analytics company that develops proprietary AI algorithms and
optical technology for faster and more accurate treatment decisions in wound
care, announces the appointment of Nils Windler as Chief Financial Officer,
with effect from this week.

 

Mr. Windler specialises in the areas of healthcare and life sciences and has
more than 20 years' finance and operations experience. In addition, Mr.
Windler has a successful track record of leveraging extensive financial,
operations and sales experience to fuel revenue growth and enhance
profitability, overseeing organisational transformation at the previous
companies at which he has served. He also has built a considerable reputation
and expert knowledge having worked for global organisations. Mr. Windler has
been responsible for transformational commercialisation at high growth
companies.

 

Prior to joining Spectral MD, Mr. Windler served as Vice President, Finance at
3M, a large American multinational conglomerate corporation operating in the
fields of industry, worker safety, U.S. health care, and consumer goods. In
this role, he helped integrate the $6.7bn acquisition of wound care solutions
provider Acelity and its global KCI subsidiaries into 3M's Health Care Medical
Solution Division, 3M's largest acquisition to date. Prior to its acquisition,
Mr. Windler also served as Vice President of Finance for Americas at KCI , for
several years and supported the preparation and execution of its exit event.
This experience in the wound care sector will prove a valuable addition to
Spectral MD's leadership team as it develops its DeepView® wound imaging
platform towards commercialisation.

 

Prior to KCI, Mr. Windler served as Vice President Finance, Midwest, at
Siemens Healthcare where he functioned as the customers' primary financial
interface. At Siemens, Mr. Windler developed and conducted high-level sales
and financial presentations and was responsible for budgeting, forecasting,
reporting and the order entry process.

 

Additionally, Mr. Windler has several years of executive Finance and
Operations experience in the U.S. and Germany in the Medical Imaging
Equipment, Cardiac Rhythm Management and Vascular Intervention space. Mr.
Windler holds an MBA, General Management from The Berlin School of Economics
& Law and Anglia Ruskin University in Cambridge, U.K. and a BA, Business
Administration, Banking Management, Finance & Investments from The Berlin
School of Economics & Law.

 

Wensheng Fan, CEO of Spectral MD Holdings, Ltd, said: "I am pleased to
announce that Nils, a seasoned finance executive with extensive experience
growing and transforming high-performing organisations, is joining the
Spectral MD leadership team as Chief Financial Officer.

 

"We are confident his strong financial acumen, proven track record, and deep
understanding of our industry makes him an ideal fit to lead Spectral MD's
financial efforts. I look forward to working closely with Nils to accelerate
commercialisation, execute our business initiatives, and pursue our path to
market."

 

Nils Windler, Chief Financial Officer, said: "I am delighted to be joining
Spectral MD at such an exciting and transformational time. Spectral MD is at
the forefront of creating meaningful, disruptive technology that will
significantly improve the wound care sector for patients, clinicians and
payers, alike. I look forward to working alongside the entire Spectral MD team
to build on the Company's strong momentum and achieve our strategic goals
through to commercialisation and beyond."

 

 For further information, please contact:

 Spectral MD Holdings, Ltd.                                                                          https://investors.spectralmd.com/ (https://investors.spectralmd.com/)
 Wensheng Fan, Chief Executive Officer                                                               via Walbrook PR

 Nils Windler, Chief Financial Officer

 SP Angel Corporate Finance LLP (Nominated Adviser and Joint Broker)                                 +44 (0) 20 3470 0470
 Stuart Gledhill/Caroline Rowe (Corporate Finance)

 Vadim Alexandre/Rob Rees (Sales and Corporate Broking)
 Stifel Nicolaus Europe Limited (Joint Broker)                                                       +44 (0) 20 7710 7600
 Charles Hoare / Ben Maddison / Will Palmer-Brown

 Walbrook PR Ltd (Media & Investor Relations)      +44 (0)20 7933 8780 or spectralMD@walbrookpr.com
 Paul McManus / Sam Allen                                                   +44 (0)79 8054 1893/ +44 (0)75 0255 8258

 Louis Ashe-Jepson                                                          +44 (0) 7747 515393

 

About Spectral MD:
 

 

Using its DeepView® Wound Imaging Solution, an internally developed AI
technology and multispectral imaging solution that has received FDA
Breakthrough Designation for the burn indication, Spectral MD is able to
distinguish between non-healing and healing human tissue invisible to the
naked eye. Spectral MD currently is able to provide 'Day One' healing
assessments for burn wounds and diabetic foot ulcers with other applications
being explored.

 

Spectral MD has to date received substantial support from the U.S. government
with contracts from institutions such as Biomedical Advanced Research and
Development Authority, National Science Foundation, National Institute of
Health and Defense Health Agency in support of the burn application for its
DeepView® solution, with total grant funding received to date from all of
these organisations of over $93 million, including $40.5 million received in
2021. This grant funding is non-dilutive to our shareholders and the Company
believes it validates the important nature of our mission and technology. The
Company leverages this funding to support R&D efforts that are applicable
to burn, DFU and potentially other indications where DeepView® can play an
important role in Day 1 wound healing assessment.

 

The Company has two principal trading subsidiaries, Spectral MD, Inc. and
Spectral MD UK Limited.

 

DeepView®

DeepView® is a predictive analytics platform that integrates proprietary AI
algorithms and advanced optical technology for wound healing predictions. It
is non-invasive, non-radiation, non-laser and does not require the use of
injectable dye. This integration can be characterised into four distinct
components: DeepView® imaging, data extraction, AI model building and AI
wound healing prediction.

·    The DeepView® imaging technology consists of patented,
proprietary, multi-spectral optics and sensors that can classify wound tissue
physiology and capture the viability of various biomarkers within the skin.
The imaging technology extracts appropriate clinical data, processes the
image, and displays a comparison of the original image next to an image with a
colour overlay of the non-healing portions of the wound. The image acquisition
takes 0.2 seconds, and the output takes approximately 20 to 25 seconds.

 

·    The DeepView® data extraction consists of proprietary optics that
are able to collect millions of data points from each raw image. This
information is then used to build and continually improve the AI model, which
is trained and tested against a proprietary database of more than 66.7 billion
pixels with an ever-growing input of clinically validated data points.

 

·    The AI algorithm then produces a predictive wound healing assessment
in the form of an objective, accurate, and immediate binary wound healing
prediction. This prediction is graphically represented to the clinician
through a coloured overlay of the original image that annotates the
non-healing portion of the wound.

DeepView® is designed to allow clinicians to make a more accurate, timely
and informed decision regarding the treatment of the patient's wound. In the
case of DFUs, a non-healing assessment would provide the clinician with the
appropriate justification to use an advanced wound care therapy on 'Day One'
as opposed to waiting 30 days and potentially losing the patient to lack of
patient follow-up or risking patient noncompliance with standard wound
therapy. For burn wounds, the clinician can make an immediate and objective
determination to identify appropriate candidates for surgery as well as
determining what specific areas of the burn wound will require skin
grafting. DeepView®'s current accuracy for determining the healing potential
of burn wounds is 92 percent in adults and 88 percent in children, compared
with current physician accuracy of 50 to 70 percent. The current clinical
accuracy of DeepView® is 83 percent for DFUs.  Both of these accuracy
percentages are expected to increase with additional R&D efforts,
including clinical studies.

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