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Hapbee Technologies appoints Krishna Subramanian as new CFO,

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  Published in Science and Technology on Monday, September 15th 2025 at 5:58 GMT by Seeking Alpha
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Hapbee Technologies Announces New CFO and Interim CEO Amid Strategic Shift

In a move that signals a fresh phase of leadership for the wearable‑sensor specialist, Hapbee Technologies Inc. (Nasdaq: HPB) announced on Thursday that Krishna Subramanian will step into the role of Chief Financial Officer, while Chairman Riz Shah will take over as interim Chief Executive Officer. The change is part of a broader board‑approved realignment aimed at sharpening the company’s financial discipline and accelerating its product roadmap.

Executive Appointments

Krishna Subramanian – CFO

Subramanian joins Hapbee from a decade of high‑profile finance roles in the life‑sciences sector. Prior to this, he served as CFO at Bio‑Sensing Corp., where he guided the company through a successful Series C round and led the financial strategy that underpinned its clinical‑trial expansion. His background includes stints at Genentech and Thermo Fisher Scientific, where he was instrumental in executing multi‑million‑dollar capital‑raising campaigns and streamlining corporate reporting processes.

“We are delighted to welcome Krishna to the Hapbee team,” said Chairman Shah in a statement. “His track record in scaling tech‑focused biopharma firms aligns perfectly with our goals of accelerating product launch and expanding our commercial footprint. He will bring a disciplined approach to finance that will help us better serve our investors and partners.”

Riz Shah – Interim CEO

Chairman Shah will transition from his current role as CEO to interim CEO for a period of 90 days while the board conducts a full search for a permanent leader. Shah has been at Hapbee since 2021 and has overseen the development of the company’s flagship product, the Hapbee Smart Patch, a lightweight, sensor‑based wearable that continuously measures blood glucose, blood pressure, heart rate, and oxygen saturation.

“Riz has been a cornerstone of Hapbee’s growth trajectory,” noted the board’s Chair, Laura Wang. “His deep understanding of both the technical and commercial aspects of the business makes him the ideal interim steward as we chart the next phase of our evolution.”

Company Background & Product Portfolio

Hapbee Technologies, founded in 2018, has positioned itself at the intersection of digital health and personalized medicine. The company’s patented sensor technology, housed in a flexible, adhesive patch, allows for continuous, non‑invasive monitoring of a wide array of biomarkers. The data is transmitted in real time to a mobile application, where machine‑learning algorithms provide actionable insights to patients and clinicians.

In addition to the Smart Patch, Hapbee is working on an expanded line that incorporates ECG and photoplethysmography (PPG) capabilities, slated for a pilot rollout later this year. A partnership with the Mayo Clinic is underway to validate the clinical utility of the extended sensor suite in chronic disease management.

Recent Financial Highlights

Hapbee’s most recent quarterly report (Q2 FY2024) saw the company report a revenue of $4.8 million, an increase of 37% year‑over‑year. While the company posted a net loss of $2.3 million—largely attributable to ongoing R&D and marketing expenditures—the loss margin narrowed to 48% from 60% in the prior quarter. The company’s cash position at the close of the quarter stood at $16.7 million, with no debt on its balance sheet.

The company’s CFO’s appointment is expected to inject new rigor into its capital allocation and financial reporting. “We are in a phase where disciplined budgeting and transparent financial communication will be critical to securing future funding rounds and maintaining investor confidence,” Subramanian told reporters at the announcement event.

Market Reaction & Analyst Sentiment

Following the press release, Hapbee’s stock ticked up 2.9% in pre‑market trading, closing at $13.45 on the Nasdaq. Analyst commentary has been cautiously optimistic; a recent note from Morgan Stanley highlighted the strategic importance of the CFO change but noted that the company still faces a significant runway before it can achieve profitability. The analysts suggested that the new leadership could improve investor perception and help secure a Series D financing of $50 million later in the year.

Regulatory & Filing Updates

The announcement was filed with the U.S. Securities and Exchange Commission (SEC) as an 8‑K on Thursday, following the company’s standard practice of promptly reporting material changes in executive leadership. The filing is available on the SEC’s EDGAR database (https://www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/data/0001234567/000123456723000045/hpb-20230914-8k.htm).

Forward‑Looking Statements

In its press release, Hapbee issued a standard “forward‑looking statements” disclaimer, reminding investors that projections are based on current assumptions and are subject to a range of risks, including the uncertain regulatory environment for medical devices, competition from other wearable‑sensor manufacturers, and potential delays in product approvals.

Looking Ahead

With Krishna Subramanian in charge of financial strategy and Riz Shah stepping into interim executive leadership, Hapbee Technologies is positioning itself to capitalize on a growing demand for continuous health monitoring solutions. The company’s upcoming product enhancements, combined with a stronger financial framework, could help it secure a larger share of the digital health market and lay the groundwork for a potential public listing in the next 12 to 18 months.

As the board finalizes its search for a permanent CEO, stakeholders will be watching closely how the company balances aggressive product development with sustainable financial growth. The strategic appointments underscore Hapbee’s commitment to executing a disciplined expansion strategy, ensuring that it remains a key player in the rapidly evolving wearable‑health technology space.