Healthcare Industry News: HSMN NewsFeed
News Release - January 4, 2019
Allevion Therapeutics Hires New CEO and Initiates Series A FundingIRVINE, Calif., Jan. 4, 2019 -- (Healthcare Sales & Marketing Network) -- Allevion Therapeutics announced today that the Board of Directors has appointed Troy Barring as the new CEO and Board Member of the company in preparation for Series A funding. Barring has more than 15 years of leadership positions managing P&L in General Management, Sales and Marketing, R&D and Operations. Troy brings senior management experience from Fortune 500 companies, in addition to previous C-level leadership at Avita Medical, Orthozon Technologies and North American Scientific. "We are thrilled to have the experience and expertise of Troy leading us into our Series A and continued product development and commercialization," said Shawn Moaddeb, Founder and Chairman of Adventus Ventures.
Allevion Therapeutics is an early stage company focused on developing a novel, smart wearable-tech device that reduces hand and leg tremor, specifically Essential Tremor (ET). This first-of-its-kind, smart wrist-cuff delivers an individualized non-invasive, multi-modal energy therapy to alter the activity of nerves responsible for the tremor. Allevion Therapeutics is part of the portfolio of Adventus Ventures, LLC, a medical device company incubator and early stage medical device VC.
As CEO, Barring will build on successful proof of concept development earlier this year as part of seed funding. Allevx™ Smart wrist-cuff will allow patients to regain confidence while significantly improving quality of life. "Most wearables simply monitor patient's movement. Our technology is groundbreaking in that it also treats patients. Allevx™, through its proprietary energy and adaptive algorithm, customizes therapy to individual patients' movement needs throughout the day," said Barring. This breakthrough energy system has the potential to address ET and other movement-related disorders, such as Parkinson's disease (PD) and Dystonia.
Millions of people struggle with ET, a movement disorder far more common than Parkinson's, with a significant impact on patient's quality of life. Numbers are expected to increase more than 6% annually.
"The ability to improve quality of life and enhance mobility with a non-invasive, smart wearable addresses a significant unmet need for patients with essential tremor," said Neal Hermanowicz, MD, Director of Parkinson's disease and movement disorder Programs at University of California, Irvine (UCI) and member of scientific advisory board of Allevion Therapeutics.
About Allevion Therapeutics:
Allevion Therapeutics was incorporated in Delaware and filed multiple patent applications covering broad method and techniques for Class II devices. Our board of directors is comprised of a proven management team with several successful exits in medical device and technology fields.
For more information, visit the company's website at www.alleviontx.com
Source: Allevion Therapeutics
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