Avinger Announces Change in Board Leadership
December 11 2017 - 4:15PM
Avinger, Inc. (NASDAQ:AVGR) (“Avinger” or the “Company”), a leading
developer of innovative treatments for peripheral artery disease
(PAD), today announced that John B. Simpson, PhD, MD, founder and
Executive Chairman of Avinger, will be leaving the Company to
pursue other opportunities. Concurrent with Dr. Simpson’s
departure, James G. Cullen has been appointed non-executive
Chairman of the Board.
“Avinger has benefited significantly from Dr.
Simpson’s clinical expertise and guidance over the last ten years
as we have developed and introduced our suite of peripheral
vascular products, and we join patients and physicians in thanking
him for his many contributions to Avinger and the interventional
cardiology industry more broadly over the last several decades,”
said Jeff Soinski, Avinger’s president and CEO. “We are delighted
that Jim Cullen has agreed to expand his board leadership role at
Avinger, and look forward to continuing to benefit from his
exceptional strategic and operational expertise. With strong
R&D leadership in place and continued engagement with our
physician users and clinical thought leaders, we are
well-positioned to continue to advance our Lumivascular technology
and are excited about the anticipated launch of our next generation
products in 2018.”
Mr. Cullen has been on Avinger’s Board of Directors
since December 2014 and has been its Lead Independent Director
since January 2015. He served as a director of Johnson &
Johnson from 1995 until 2015, and was Presiding Director of the
Johnson & Johnson board from 2003 to 2012. Mr. Cullen currently
serves as a director of Agilent Technologies and Keysight
Technologies, an electronic measurement spin-off from Agilent. He
served as Agilent’s non-executive Chairman of the Board from 2005
until March 2017. Mr. Cullen was non-executive Chairman of the
Board of Neustar, Inc. from 2010 until its acquisition earlier in
2017. He is also a past director and member of the investment and
finance committees of Prudential Financial, Inc. In 2000, Mr.
Cullen retired as President, Chief Operating Officer and Vice
Chairman of Bell Atlantic Corporation (now Verizon), positions he
held since 1993.
About Avinger, Inc. Avinger is a
commercial-stage medical device company that designs and develops
the first-ever image-guided, catheter-based system that diagnoses
and treats patients with peripheral artery disease (PAD). Avinger
is dedicated to radically changing the way vascular disease is
treated through its Lumivascular platform, which currently consists
of the Lightbox imaging console, the Ocelot family of chronic total
occlusion (CTO) catheters, and the Pantheris® family of atherectomy
devices. Avinger is based in Redwood City, CA. For more
information, please visit www.avinger.com.
Forward-Looking StatementsThis news release
contains forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934 and the Private Securities Litigation Reform
Act of 1995. These forward-looking statements include statements
regarding the launch of next generation products. Such statements
are based on current assumptions that involve risks and
uncertainties that could cause actual outcomes and results to
differ materially. These risks and uncertainties, many of which are
beyond our control, include our dependency on a limited number of
products; our ability to demonstrate the benefits of our
Lumivascular platform; the resource requirements related to
Pantheris; the outcome of clinical trial results; potential
exposure to third-party product liability, intellectual property
and other litigation; lack of long-term data demonstrating the
safety and efficacy of our Lumivascular platform products; reliance
on third-party vendors; dependency on physician adoption; reliance
on key personnel; and requirements to obtain regulatory approval to
commercialize our products; as well as the other risks described in
the section entitled “Risk Factors” and elsewhere in our quarterly
Form 10-Q filing made with the Securities and Exchange Commission
on November 14, 2017. These forward-looking statements speak only
as of the date hereof and should not be unduly relied upon. Avinger
disclaims any obligation to update these forward-looking
statements.
INVESTOR CONTACT
Matt FergusonAvinger, Inc.(650) 241-7917ir@avinger.com
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