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 News Release - November 24, 2020

Signifier Medical Technologies appoints Alastair Maxwell as Chief Financial Officer

Brings significant capital markets and strategic development expertise to support Company growth

29 years of Investment Banking experience at Kleinwort Benson, Morgan Stanley and Goldman Sachs


BOSTON and LONDON, Nov. 24, 2020 -- (Healthcare Sales & Marketing Network) -- Signifier Medical Technologies ("Signifier/the Company"), an innovator in the sleep disordered breathing market, is pleased to announce the appointment of Alastair Maxwell as Chief Financial Officer with immediate effect. He will be based in Boston and London and will be responsible for all aspects of the Company's financial strategy, management and operations including ensuring that the Company is adequately financed to meet its ambitious growth plans.

Mr. Maxwell has enjoyed a long and successful career in the investment banking industry where he worked for almost 30 years. This was most recently with Goldman Sachs from 2010 to 2016 where he was a Partner and Global Industry Group Co-Head with responsibility for relationships with a wide range of corporate and other clients.

Previous to this, he was with Morgan Stanley, most recently as Managing Director and Industry Head in the EMEA region, and prior to that with Dresdner Kleinwort Benson.

Prior to joining Signifier, Mr. Maxwell was Chief Financial Officer at NYSE-listed companies GasLog Ltd and GasLog Partners LP where he worked closely with the Board and senior management team to facilitate the growth of the business and to secure the funding required to support this growth.

During his career, Mr. Maxwell has been involved in a wide range of strategic and financing transactions, including equity, equity-linked, bond and bank financings for a variety of private and public companies.

Akhil Tripathi, CEO of Signifier commented: "This latest key appointment further rounds out our world-class leadership team. Alastair brings significant expertise to the Company in capital markets, fund raising and corporate strategy. His global and US experience will be crucial in supporting Signifier and ensuring that we have access to the appropriate financing as we seek to rapidly expand our business."

Alastair Maxwell added: "I am excited to be joining Signifier at this important time in its development. With the anticipated launch of eXciteOSA®, the Company is poised for significant growth. I look forward to utilizing my skills and network to work with Akhil and the rest of the team to help the Company realize its tremendous potential."

About Signifier Medical Technologies

Signifier Medical Technologies is a medical technology company focused on the development and commercialization of innovative and non-invasive solutions for patients with sleep disordered breathing conditions and snoring.

Signifier's proprietary therapy eXciteOSA® is the first and only daytime genioglossal (tongue) muscle-neurostimulation technology for mild obstructive sleep apnea and snoring, supported by clinical data from prestigious and well-recognized universities and academic institutions, that provides a safe and effective treatment for its patients.1-3

For more information, please visit www.signifiermedical.com.

About OSA and Snoring

Nearly 1 billion adults aged 30 to 69 years are estimated to have obstructive sleep apnea (OSA) globally. There is a strong, clinically proven link between OSA and co-morbidities like diabetes, hypertension, and strokes. Mild OSA affects over 110 million people in the US and 100 million people in Europe.

Obstructive sleep apnea is marked by the recurring collapse of the upper airways during sleep. The most common symptoms are restless sleep, snoring, tiredness during the day, decreased intellectual alertness, and personality alterations. Higher risks of cardiovascular diseases and increased mortality rates have been associated with OSA.

Standard therapy of all advanced levels of sleep apnea is with a continuous positive airway pressure (CPAP) device. Many patients find this therapy invasive, and the long-term compliance of CPAP therapy is limited, so there is a clear demand for new forms of treatment.

References

1. White DP. Sleep-related breathing disorder: 2—pathophysiology of obstructive sleep apnoea. Thorax. 1995; 50:797–804. [PubMed: 7570420]

2. Wessolleck E, Bernd E, Dockter S, et al. Intraoral electrical muscle stimulation in the treatment of snoring. Somnologie (Berl). 2018; 22 (Suppl 2): 47–52.

3. Sama A, et al. Daytime Intraoral Neurostimulation with Snoozeal® for Treatment of Snoring and Mild Sleep Apnea. CHEST Annual Meeting Notes. 2018.

4. Clinical study of 115 patients with snoring or mild OSA (Apnea- Hypopnea Index (AHI <15 n=65). Objective snoring and respiratory parameters were recorded with 2 consecutive WatchPat night sleep studies before and after the use of the device. An intra-oral tongue stimulator (Snoozeal®) device was used for 20mins, once a day for 6-week period.


Source: Signifier Medical Technologies

Issuer of this News Release is solely responsible for its content.
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