ST. PAUL, Minn., Sept. 27, 2016 /PRNewswire/ -- EnteroMedics
Inc. (NASDAQ: ETRM), the developer of medical devices using
neuroblocking technology to treat obesity, metabolic diseases and
other gastrointestinal disorders, today announced the appointment
of President and Chief Executive Officer Dan Gladney as Chairman of the Board of
Directors, effective October 14,
2016. Mr. Gladney will succeed Dr. Mark Knudson, co-founder of EnteroMedics, who
will be retiring from the Board. Dr. Knudson will be Special
Advisor to the CEO on clinical and scientific activities following
his retirement. As part of this transition, the
EnteroMedics Board will take action at its December meeting to
create an Independent Lead Director position and has asked the
Nominating and Governance Committee to recommend a candidate for
appointment to that position.
"It is an honor to lead the EnteroMedics Board of Directors at
such a pivotal time for the company," said Mr. Gladney.
"EnteroMedics' commitment to combatting morbid obesity only gets
stronger as we press onward towards our goals of both obtaining
broad reimbursement coverage for vBloc Therapy® and
ensuring that this proven option is as widely available as
possible. I would like to thank Mark for his service and dedication
to the company over the last 14 plus years."
"Dan is a highly capable, effective executive with a proven
track record of success at EnteroMedics," said Dr. Knudson. "It has
been a privilege to lead the EnteroMedics' Board of Directors, and
knowing that Dan will be taking over leaves me confident that the
company will maintain its dominant position in the neuromodulation
device industry in the areas of obesity, diabetes and
gastrointestinal disorders."
About EnteroMedics Inc.
EnteroMedics is a medical device company focused on the
development and commercialization of its neuroscience based
technology to treat obesity and metabolic diseases.
vBloc® Neurometabolic Therapy, delivered by a
pacemaker-like device called the vBloc® System, is
designed to intermittently block the vagus nerves using
high-frequency, low-energy, electrical impulses. EnteroMedics'
vBloc® System has received U.S. Food and Drug
Administration approval and CE Mark.
Information about the vBloc® System and
vBloc® Neurometabolic Therapy
You should not have an implanted vBloc® System if you
have cirrhosis of the liver, high blood pressure in the veins of
the liver, enlarged veins in your esophagus or a significant hiatal
hernia of the stomach; if you need magnetic resonance imaging
(MRI); if you have a permanently implanted, electrical medical
device; or if you need a diathermy procedure using heat. The most
common related adverse events that were experienced during clinical
study of the vBloc System included pain, heartburn, nausea,
difficulty swallowing, belching, wound redness or irritation, and
constipation.
Talk with your doctor about the full risks and benefits of vBloc
Therapy and vBloc System. For additional prescribing information,
please visit www.enteromedics.com.
If you are interested in learning more about vBloc
Neurometabolic Therapy, please visit www.vbloc.com or call
1-800-MY-VBLOC.
Forward-Looking Safe Harbor Statement:
This press release contains forward-looking statements about
EnteroMedics Inc. Our actual results could differ materially from
those discussed due to known and unknown risks, uncertainties and
other factors including our limited history of operations; our
losses since inception and for the foreseeable future; our limited
commercial sales experience with our vBloc® System for
the treatment of obesity in the United
States or in any foreign market other than Australia and the European Community; our
ability to regain and then maintain compliance with the Nasdaq
continued listing requirements; our ability to commercialize our
vBloc® System; our dependence on third parties to
initiate and perform our clinical trials; the need to obtain
regulatory approval for any modifications to our vBloc®
System; physician adoption of our vBloc® System and
vBloc® Neurometabolic Therapy; our ability to obtain
third party coding, coverage or payment levels; ongoing regulatory
compliance; our dependence on third party manufacturers and
suppliers; the successful development of our sales and marketing
capabilities; our ability to raise additional capital when needed;
international commercialization and operation; our ability to
attract and retain management and other personnel and to manage our
growth effectively; potential product liability claims; potential
healthcare fraud and abuse claims; healthcare legislative reform;
and our ability to obtain and maintain intellectual property
protection for our technology and products. These and additional
risks and uncertainties are described more fully in the Company's
filings with the Securities and Exchange Commission, particularly
those factors identified as "risk factors" in the annual report on
Form 10-K filed March 28, 2016. We
are providing this information as of the date of this press release
and do not undertake any obligation to update any forward-looking
statements contained in this document as a result of new
information, future events or otherwise.
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SOURCE EnteroMedics Inc.