Healthcare Industry News: Benephit
News Release - July 17, 2007
FlowMedica, Inc. Appoints Gary Saxton as President and Chief Executive OfficerFREMONT, Calif.--(HSMN NewsFeed)--FlowMedica, Inc., a medical device company pioneering targeted renal therapy (TRT(TM)), today announced that Gary Saxton has been appointed as President and Chief Executive Officer, effective July 30, 2007.
"Gary brings both extensive strategy development as well as operating experience to FlowMedica, and joins the company as we expand our clinical programs and commercial activities. His experience within the interventional and surgical specialties will help us optimize the many opportunities we have to prevent and treat acute renal injury and renal failure," said Phil Hopper, Chairman of the Board. "We also look forward to leveraging his business development background to forge alliances with a variety of industry partners."
Mr. Saxton is currently the Executive Vice President and Chief Operating Officer of BioSphere Medical, Inc., a medical device company that has developed and commercialized minimally-invasive therapeutic applications for its microsphere technology. Prior to his role with BioSphere, he was a strategy and market development consultant within the medical device industry. He previously served as the Vice President of Sales and Marketing at Symphonix Devices, Inc., and as the Vice President of Marketing at CardioGenesis Corporation. Mr. Saxton has also held a variety of management positions within Medtronic, Inc., including Director, Strategic Plan and Manager, Business Development. Early in his career, he was with the IBM Corporation in a variety of sales, marketing, strategy and finance roles, both in the U.S. and in Asia-Pacific.
Mr. Saxton also was a Captain in the U.S. Army, and holds a BS degree from the United States Military Academy, West Point, New York, and an MBA from Harvard University, Boston, Massachusetts.
"FlowMedica has developed unique technology to address a major unmet need in patients with cardiovascular disease, diabetes, and renal insufficiency who undergo interventional and surgical procedures," said Mr. Saxton. "I look forward to working with our employees, physician advisors and other partners to further establish the clinical value of the FlowMedica technology and to develop a new standard of care that can be incorporated into medical procedures to help prevent and treat kidney disease."
About FlowMedica, Inc.
FlowMedica, Inc., a venture-backed, privately held, commercial-stage medical device company located in Fremont, California, was founded in 2002, in collaboration with leading cardiologists and surgeons. Investors include: ABN AMRO Capital, De Novo Ventures, Medica Venture partners, Mi3 Venture Partners, Oxford Bioscience Partners and Palo Alto Investors. The company's initial solutions for TRT - the Benephit Infusion Systems - have received U.S. 510(k) regulatory clearance and CE Marking for the infusion of physician-specified agents in the peripheral vasculature including, but not limited to, the renal arteries. The company's products have not received FDA clearance to treat contrast-induced nephropathy or any other condition.
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