Beta Bionics Announces Board Appointment of Gerard Michel

Rhea-AI Summary

Beta Bionics (Nasdaq: BBNX), a leader in advanced diabetes management solutions, has appointed Gerard Michel as an independent board director effective March 26, 2025. Michel, currently CEO of Delcath Systems (Nasdaq: DCTH), brings over 30 years of pharmaceutical and medical technology industry experience.

Michel's extensive background includes serving as CFO at Vericel , CFO and VP of Corporate Development at Biodel Inc. (2007-2014), and similar roles at NPS Pharmaceuticals (2002-2007). He previously held positions at Booz Allen and worked in commercial roles at Lederle Labs and Wyeth Labs.

Michel holds an M.S. in Microbiology from the University of Rochester School of Medicine, an M.B.A. from Simon School of Business, and dual B.S. degrees in Biology and Geology.

Positive

• Addition of board member with extensive pharmaceutical and medical technology industry experience
• New director brings significant commercial and financial expertise from leadership roles at multiple healthcare companies
• Strengthened corporate governance with independent board member appointment

Negative

• None.

IRVINE, Calif., March 27, 2025 (GLOBE NEWSWIRE) -- Beta Bionics, Inc. (Nasdaq: BBNX), a pioneering leader in the development of advanced diabetes management solutions, today announced the appointment of Gerard Michel as an independent member of its board of directors, effective March 26, 2025. Mr. Michel is Chief Executive Officer of Delcath Systems (Nasdaq: DCTH), a commercial-stage interventional oncology company.

“We are excited to welcome Gerard to the Beta Bionics Board,” said Sean Saint, President and Chief Executive Officer of Beta Bionics. “Gerard is a highly regarded leader in the pharmaceutical and medical technology industries, and brings deep experience in driving innovation and commercial success to our Board. His contributions will be invaluable to Beta Bionics as we scale our commercial footprint and advance our innovation pipeline to simplify and alleviate the burden of managing diabetes.”

Mr. Michel has over 30 years of experience in the pharmaceutical and medical technology industries across numerous functional areas. Prior to joining Delcath Systems as Chief Executive Officer in 2020, Mr. Michel served as Chief Financial Officer at Vericel Corporation, a biopharmaceutical company. Mr. Michel also served as Chief Financial Officer and Vice President, Corporate Development at Biodel, Inc. from November 2007 to May 2014, and Chief Financial Officer and Vice President of Corporate Development at NPS Pharmaceuticals Inc. from August 2002 to November 2007. Previously, Mr. Michel was a Principal at Booz Allen and held a variety of commercial roles at both Lederle Labs and Wyeth Labs. Mr. Michel holds an M.S. in Microbiology from the University of Rochester School of Medicine, an M.B.A. from the Simon School of Business, and a B.S. in both Biology and Geology from the University of Rochester.

About Beta Bionics

Beta Bionics, Inc. is a commercial-stage medical device company engaged in the design, development, and commercialization of innovative solutions to improve the health and quality of life of insulin-requiring people with diabetes (PWD) by utilizing advanced adaptive closed-loop algorithms to simplify and improve the treatment of their disease. The iLet Bionic Pancreas is the first FDA-cleared insulin delivery device that autonomously determines every insulin dose and offers the potential to substantially improve overall outcomes across broad populations of PWD. To learn more, visit www.betabionics.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this press release that are not statements of historical fact are forward-looking statements. Such forward-looking statements include, without limitation, statements regarding expectations of Beta Bionics, Inc. (the “Company”), including Mr. Michel’s potential contributions to the Company; the timing, likelihood or success of the Company’s business strategy, including commercialization, as well as plans and objectives of management for future operations; and the Company’s anticipated growth. Words such as “believe,” “anticipate,” “plan,” “expect,” “intend,” “will,” “may,” “goal,” “potential” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements necessarily contain these identifying words. These forward-looking statements are based on the beliefs of the management of the Company as well as assumptions made by and information currently available to the Company. Such statements reflect the current views of the Company with respect to future events and are subject to known and unknown risks and uncertainties, including business, regulatory, economic and competitive risks and uncertainties about the Company, including, without limitation, risks inherent in developing product candidates, future results from the Company’s ongoing and future studies and clinical trials, the Company’s ability to obtain adequate financing to fund its product development and other expenses, risks that real-world data or future results may not be consistent with interim, initial or preliminary results or results from prior preclinical studies or clinical trials, trends in the industry, the Company’s relationships with its existing and future collaboration partners, the legal and regulatory framework for the industry, future expenditures and the potential impacts of global macroeconomic conditions. In light of these risks and uncertainties, the events or circumstances referred to in the forward-looking statements may not occur. The actual results may vary from the anticipated results and the variations may be material. Other factors that may cause the Company’s actual results to differ from current expectations are discussed in the Company’s filings with the Securities and Exchange Commission, including the section titled “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. You are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date this press release is given. Except as required by law, the Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Relations:
Blake Beber
Head of Investor Relations
ir@betabionics.com

Media and Public Relations:
Karen Hynes
Vice President of Marketing
media@betabionics.com

Source: Beta Bionics, Inc.

FAQ

When did Gerard Michel join Beta Bionics (BBNX) board of directors?

Gerard Michel joined Beta Bionics' board as an independent director on March 26, 2025.

What is Gerard Michel's current position besides BBNX board membership?

Gerard Michel currently serves as the Chief Executive Officer of Delcath Systems (DCTH).

What is Gerard Michel's experience in the medical industry before joining BBNX?

Michel has 30+ years of experience, including roles as CFO at Vericel , CFO/VP at Biodel Inc. and NPS Pharmaceuticals, and positions at Booz Allen, Lederle Labs, and Wyeth Labs.

What educational qualifications does the new BBNX board member Gerard Michel hold?

Michel holds an M.S. in Microbiology from University of Rochester School of Medicine, an M.B.A. from Simon School of Business, and B.S. degrees in Biology and Geology.