Healthcare Industry News: GE Capital
News Release - September 19, 2012
SpringLeaf Therapeutics Names Pieter Muntendam, MD, President and Chief Executive OfficerBOSTON--(Healthcare Sales & Marketing Network)--SpringLeaf Therapeutics, a company founded on breakthrough science at MIT to transform administration of non-orally administered, or parenteral, medications for chronic conditions, today announced the appointment of Pieter Muntendam, MD, as its President and CEO. Dr. Muntendam has also been appointed a member of its board of directors.
SpringLeaf Therapeutics was founded by Professor Michael Cima, David H. Koch Professor of Engineering at the Massachusetts Institute of Technology (MIT), and Professor Yet-Ming Chiang, Kyocera Professor of Ceramics also at MIT. The Company has pioneered the use of novel electrochemical actuators derived from battery technology to create a wearable, disposable delivery system for subcutaneous administration of a broad range of drugs that cannot be taken by mouth. Convenient self-administration of these drugs represents an important unmet medical need and large growth opportunity by enabling chronic treatment with therapies for a broad range of serious medical conditions.
"Pieter brings an unusual combination of experience in life sciences, healthcare and business innovation to SpringLeaf,” said Garen Bohlin, Chairman of the Board of SpringLeaf. “The SpringLeaf technology allows us to pursue the development and commercialization of novel subcutaneously-administered agents, offer a new and improved option for established parenteral drugs and partner with the pharmaceutical and biotech industry. Pieter’s experience and leadership will allow us to advance the SpringLeaf platform and pursue opportunities in each of these directions to address important unmet medical needs.”
Dr. Muntendam joined SpringLeaf from BG Medicine, where he served as President and CEO from 2004 to January of 2012 and as Executive Vice President and Chief Medical Officer from January through June 2012. At BG Medicine, Dr. Muntendam successfully led multiple rounds of financing involving venture capital, institutional investors and strategic investors; and in 2011, Dr. Muntendam led the initial public offering of BG Medicine. Dr. Muntendam also led the development of a potentially transformative diagnostic from inception to FDA clearance and commercial introduction and successfully negotiated and implemented numerous partnership deals with leading manufacturers, the public sector and a national payer. Prior to BG Medicine, he held executive positions in leading healthcare corporations such as Johnson and Johnson, Glaxo (now GlaxoSmithKline) and earlier stage companies, including ProMedex, a healthcare company he founded.
“Pieter’s broad experience will allow the Company to explore and pursue new opportunities for its transformative technology, which allows fluids to be accurately administered using a self-contained wearable administration system that integrates SpringLeaf’s unique battery technology with an automated subcutaneous soft cannula, opening the market for convenient home administration of parenteral therapies,” said Professor Michael Cima.
"I am honored by the opportunity to lead SpringLeaf Therapeutics at this important time in its maturation," said Dr. Muntendam. “The size and importance of the unmet medical need that the Company is addressing, along with its truly innovative use of technology and the caliber of the Company’s founders and investors, make it a very exciting opportunity.”
About SpringLeaf Therapeutics
SpringLeaf Therapeutics is creating innovative therapeutic modalities to address serious diseases and elevate the quality of care for patients. SpringLeaf's technology is based on the convergence of materials science and medicine and is designed to enable and differentiate therapeutics. SpringLeaf was founded based on breakthrough science at MIT and is backed by leading investors including Excel Venture Management, FlybridGE Capital Partners, North Bridge Venture Partners and SR One.
Source: SpringLeaf Therapeutics
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