- Wellfully (WFL) successfully registers the Swisswell Lubricen Knee Patch as a Class 1 medical device in the European Union
- Registration as a Class 1 medical device enables medical claims to be made, substantially enhancing roll-out opportunities with pharmacy partners across the EU markets
- This registration will support the necessary regulatory approvals in other markets such as Australia, the US and UK
- Wellfully has also announced multiple board changes with the resignation of Antonio Varano as Chairman and CEO Paul Peros appointed Executive Chairman
- Shares in Wellfully are up 6.7 per cent, trading at 4.8 cents
Wellfully (WFL) has successfully registered the Swisswell Lubricen knee patch as a Class 1 medical device in the European Union.
Registration as a Class 1 medical device enables substantiated medical claims to be made, substantially enhancing roll-out opportunities with pharmacy partners across the EU markets.
Wellfully will now be able to execute on existing collaborations and engage with new partners and distributors across the EU markets.
This registration of the pain relief patch will support the necessary regulatory approvals in other markets such as Australia, the US and UK.
Wellfully has also announced multiple board changes with CEO Paul Peros appointed Executive Chairman.
Mr Peros joined Wellfully as CEO in June 2019 with his role transforming from management to leadership.
Antonio Varano has resigned as Chairman but will continue as a Non-Executive Director.
Anton Eaton has been appointed as a Non-Executive Director and currently acts a legal counsel for Wellfully.
Anthony Wright has resigned as a Non-Executive Director to pursue other business opportunities.
“Paul and Anton bring extensive international trade, industry knowledge and corporate experience to the board, at a time when the company is looking to optimise and actively grow its operations,” Mr Varano said.
“With these appointments, my fellow directors and I look forward to generating further value for shareholders from the company’s attractive portfolio of assets and ever-growing business opportunities.”
Shares in Wellfully were up 6.67 per cent on the market and were trading at 4.8 cents at 3:17 pm AEST.