Venaxis, a medical device manufacturer based in Castle Rock, Colorado, announced that it would change its name. The company, formerly known as AspenBio Pharma, received approval for the name change from shareholders during a meeting on December 11th.
According to a press release by the company, there will be no change to the company’s Nasdaq Capital Market symbol, APPY. The company will, however, change the name of its appendicitis diagnostic test to APPY1. APPY1 is currently under development.
Steve Lundy is CEO and president of Venaxis. In prepared remarks, he said, "These changes represent another major step forward in our corporate rebranding process.” He continued, “Our goal is to become a recognizable name in the human diagnostics space and we feel that the timing of these branding changes is auspicious, as we draw closer to commercializing APPY1 in Europe and initiating a pivotal clinical study for purposes of gaining regulatory clearance in the United States."
The company’s website and corporate materials are currently being revised. The new investor website and revised corporate look will be unveiled in January.
According to information from the company, all motions were approved during its Special Shareholder Meeting. This includes a motion that would increase the number of available shares through its equity plan.