Healthcare Industry News: Cyberonics
News Release - January 9, 2013
Cyberonics Names Bruce H. KenKnight, Ph.D. Vice President, Emerging TherapiesOUSTON, Jan. 9, 2013 -- (Healthcare Sales & Marketing Network) -- Cyberonics, Inc. (CYBX) today announced that Bruce H. KenKnight, Ph.D., joined the company as its Vice President, Emerging Therapies, effective on January 1, 2013. Dr. KenKnight will lead all of the company's emerging therapies programs, including the current clinical evaluation of Autonomic Regulation Therapy, an emerging therapy for treatment of chronic heart failure that incorporates Cyberonics' extensive experience delivering vagus nerve stimulation to more than 100,000 patients world-wide.
Most recently, Dr. KenKnight was President and CEO of Valtech Cardio Ltd, a privately-held company developing innovative solutions for surgical and percutaneous mitral valve repair and replacement. For the 20-year period ending in 2010, he worked at Boston Scientific Corporation (formerly Guidant Corporation), finally serving as Vice President of Research and Business Development for the Cardiac Rhythm Management Division. Dr. KenKnight has served on the Board of Directors of seven privately-held companies and is an author of more than 150 peer-reviewed manuscripts, reviews, book chapters and conference abstracts in fields relating to cardiac electrophysiology and heart failure. He is an editorial consultant for several cardiology journals and serves as Associate Editor for Cardiovascular Engineering and Technology. In 2006, Dr. KenKnight received the Albert Einstein Award for Outstanding Achievement in the Life Sciences from the Global Business Leadership Council in Tel Aviv, Israel. In 2007, he was elected to the College of Fellows of the American Institute for Medical and Biological Engineering (AIMBE). Dr. KenKnight is also an Adjunct Professor of Biomedical Engineering at the University of Minnesota and is named as an inventor on more than 120 U.S. patents and more than 250 patents world-wide.
"Bruce has 30 years of experience developing high-value solutions to address major unmet medical needs and has consistently demonstrated the ability to drive innovative programs that lead to substantial shareholder value," said Dan Moore, Cyberonics' President and Chief Executive Officer. "We enthusiastically welcome Bruce to the Cyberonics team and look forward to continued progress on our emerging therapy programs, facilitating the substantial, long-term growth of the company," said Milton Morris, Ph.D., Senior Vice President, Research and Development.
Bruce received the Bachelor of Science degree in mechanical engineering, Master of Science and Ph.D. degrees in biomedical engineering from the College of Science & Technology at the University of Minnesota in Minneapolis, and has completed business management training at the Harvard School of Business, University of Chicago and the Kellogg School of Management.
About Cyberonics, Inc. and the VNS Therapy® System
Cyberonics, Inc. is a medical technology company with core expertise in neuromodulation. The company developed and markets the VNS Therapy System, which is FDA-approved for the treatment of refractory epilepsy and treatment-resistant depression. The VNS Therapy System uses an implanted medical device that delivers pulsed electrical signals to the vagus nerve. Cyberonics markets the VNS Therapy System in selected markets worldwide.
Additional information on Cyberonics and the VNS Therapy System is available at www.Cyberonics.com.
Safe harbor statement
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. These statements can be identified by the use of forward-looking terminology, including "may," "believe," "will," "expect," "anticipate," "estimate," "plan," "intend," "forecast," or other similar words. Statements contained in this press release are based on information presently available to us and assumptions that we believe to be reasonable. We are not assuming any duty to update this information if those facts change or if we no longer believe the assumptions to be reasonable. Investors are cautioned that all such statements involve risks and uncertainties, including without limitation, statements concerning development of, obtaining regulatory approval for, and commercially marketing new emerging therapies, including Autonomic Regulation Therapy for the treatment of chronic heart failure, achieving long-term revenue growth and increasing shareholder value through the development of emerging therapies. Our actual results may differ materially. Important factors that may cause actual results to differ include, but are not limited to: continued market acceptance of VNS Therapy™ and sales of our products; the development and satisfactory completion of clinical trials and/or market test and/or regulatory approval of new products, including VNS Therapy™ for the treatment of other indications; satisfactory completion of the post-market registry required by the U.S. Food and Drug Administration as a condition of approval for the treatment-resistant depression indication; adverse changes in coverage or reimbursement amounts by third-parties; intellectual property protection and potential infringement claims; maintaining compliance with government regulations and obtaining necessary government approvals for new products and indications; product liability claims and potential litigation; reliance on single suppliers and manufacturers for certain components; the accuracy of management's estimates of future expenses and sales; the potential identification of material weaknesses in our internal controls over financial reporting; and other risks detailed from time to time in our filings with the Securities and Exchange Commission (SEC). For a detailed discussion of these and other cautionary statements, please refer to our most recent filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended April 27, 2012 and our Quarterly Report on Form 10-Q for fiscal quarters ended July 27, 2012 and October 26, 2012.
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