Departure of Managing Director & Chief Executive Officer

SYDNEY, Australia and MINNEAPOLIS, Aug. 29, 2018 (GLOBE NEWSWIRE) -- The Board of Medibio Limited (MEB or the Company)(ASX: MEB)(OTCQB: MDBIF), today announced that Mr. Jack Cosentino will cease as Managing Director and Chief Executive Officer of the Company. His departure is effective from August 28, 2018. Mr. Cosentino was appointed Managing Director and Chief Executive Officer on February 16, 2017.

Medibio further advises that Mr. Brian Mower has been appointed Interim CEO effective as at August 28, 2018. Mr. Mower is the Company’s Chief Financial Officer and has been part of the Medibio team since April 2017. The Board will commence a search immediately for a new CEO and Managing Director and will consider both internal and external candidates.

Medibio Board of Directors Chairman Chris Indermaur said “The Company will remain focused and steadfast on its continued mission in identifying the link between physiological measures and mental health. We are fortunate to have the experience and dedication of Brian to move the company forward in the right direction whilst we embark on our search for a new CEO.”

About Medibio Limited
Medibio (ASX: MEB) (OTCQB: MDBIF) is a mental health technology company that has pioneered the use of objective biometrics to assist in the screening, diagnosing, monitoring and management of depression and other mental health conditions. The company was founded in Australia, with offices now located in Melbourne (Vic), Perth (WA) and Minneapolis, MN. Medibio is listed on the Australian Securities Exchange Ltd and trades on the OTCQB Venture Market. Investors can find additional information on www.otcmarkets.com and www.asx.com.au.