Healthcare Industry News: Kyphon
News Release - June 20, 2008
XTENT Appoints Christopher M. Smith and Arthur T. Taylor to Board of DirectorsMENLO PARK, Calif., June 20 (HSMN NewsFeed) -- XTENT, Inc. (Nasdaq: XTNT ) announced today that Christopher M. Smith and Arthur T. Taylor have been appointed to the company's board of directors.
Smith is currently president of Cochlear Americas, a developer of implantable hearing devices. From October 2003 to August 2004, he was a consultant for Warburg Pincus, a private equity firm. From 2000 to 2003, Mr. Smith served as group president for Gyrus Group Plc, (a UK listed company), and as president and CEO-Director of Gyrus Medical. Smith, who currently serves on the board of a private company, received his B.S. in Journalism and Marketing from Texas A&M University.
Taylor served as a senior executive at Kyphon Products, Spinal & Biologics Business at Medtronic Inc. from November 2007 to May 2008. Prior to that, he was chief operating officer of Kyphon, a medical device company, from 2006 until the company's acquisition by Medtronic in November 2007, having served as chief financial officer of Kyphon from 2004 to 2006. Prior to joining Kyphon, he was senior vice president and chief financial officer of Terayon Communication Systems (subsequently acquired by Motorola), a broadband access and video processing technology company. Taylor holds a B.S. in Business Administration from San Diego State University and an M.B.A. from the University of Southern California.
Robert "Robin" Bellas of Morgenthaler Ventures, a founding venture capital investor in XTENT and a board member since 2002, will leave his board position this month as the new members assume their duties. "Robin's support and service to XTENT since our first days as a company have been invaluable. We are grateful for his guidance and contributions to our growth and maturation as a company," added Casciaro.
XTENT, Inc. is a medical device company focused on developing and commercializing innovative customizable drug eluting stent (DES) systems for the treatment of coronary artery disease (CAD). CAD is the most common form of cardiovascular disease and the number one cause of death in the United States and Europe. XTENT® Custom NX® DES Systems are designed to enable the treatment of single lesions, long lesions and multiple lesions of varying lengths and diameters, in one or more arteries with a single device.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Statements in this press release regarding XTENT's business that are not historical facts may be "forward-looking statements" that involve risks and uncertainties. Specifically, these statements include, but are not limited to those concerning: XTENT's expectations with respect to the size of the market for its products, the timing of the commercial launch of its products and the outcomes for treated patients. Forward-looking statements are based on management's current, preliminary expectations, and are subject to risks and uncertainties that could cause actual results to differ from the results predicted and which are included in the "Risk Factors" section of XTENT's quarterly report on Form 10-Q for the quarter ended March 31, 2008. This quarterly report was filed with the SEC on May 13, 2008, and is available on the company's investor relations website at http://www.xtentinc.com and on the SEC's website at http://www.sec.gov. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. XTENT undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events.
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