LISLE, Ill., March 2, 2021 /PRNewswire/ -- Endotronix, Inc., a
digital health and medical technology company dedicated to
advancing the treatment of heart failure (HF), today announced the
appointment of seasoned medical device industry executive
Dan Dearen to its Board of
Directors. Mr. Dearen currently serves as the President and Chief
Financial Officer of Axonics Modulation Technologies, Inc. (Nasdaq:
AXNX), a medical technology company he helped take public in 2018
with sales in 2020 of over $111
million and a current market capitalization of $2 billion. Mr. Dearen joins the Endotronix Board
as an Independent Director and will serve as Chair of the Audit
Committee.
![Dan Dearen, President and CFO of Axonics and newly added board member to Endotronix Board of Directors Dan Dearen, President and CFO of Axonics and newly added board member to Endotronix Board of Directors](https://mma.prnewswire.com/media/1447150/Dan_Dearen.jpg)
"We welcome Dan's healthcare experience and leadership as
Endotronix prepares for commercial growth and rapid expansion,"
said Paul LaViolette, Managing
Partner at SV Health Investors and Chairman of the Board. "Dan's
extensive track record of building best-in-class organizations,
establishing rigorous financial frameworks, and scaling businesses
will be invaluable during this next phase of Endotronix's
growth."
Mr. Dearen brings more than three decades of executive
leadership experience in the medical device and life sciences
industries. He co-founded Axonics and has served in his current
role for over seven years, during which time the company developed,
obtained FDA approval for, and launched its sacral neuromodulation
system to treat overactive bladder, acquired Bulkamid to treat
stress urinary incontinence, and raised $138
million in its 2018 IPO plus $267
million through two subsequent equity offerings.
Previously, Mr. Dearen was the Chief Operating and Financial
Officer of Vessix Vascular through the acquisition and integration
into Boston Scientific for $425
million in 2012. He also served as Chief Financial Officer
of Miraval Holding, Q3DM (acquired by Beckman Coulter), Medication Delivery Devices
(acquired by Baxter Healthcare) and was a Principal at Ventana
Growth Funds, an international venture capital firm. Mr. Dearen
started his career as a CPA in the healthcare group at Ernst &
Young. He holds a BBA in Accounting & Business from
Southern Methodist University and an
MBA from Boston College.
"I have had the pleasure of following the team's progress and am
impressed by the growing data demonstrating the value of the
Cordella System," commented Mr. Dearen. "I am excited to join
Endotronix as the company prepares for commercial launch and rapid
growth in this duopoly interventional heart failure segment,
pulmonary artery (PA) pressure-guided HF management. And I look
forward to leveraging my diverse experiences to accelerate the
company along its mission to transform the standard of care for
chronic heart failure patients."
The Cordella™ Heart Failure System from Endotronix is a
comprehensive heart failure management solution that enables
proactive management and early detection of worsening heart
failure. The platform consists of a comprehensive remote patient
management system with non-invasive daily health metrics that
seamlessly integrates a next generation implantable pulmonary
artery pressure sensor to streamline heart failure care management,
reduce heart-failure-related hospitalizations, and support
reimbursement for care delivery.
Endotronix is actively enrolling heart failure patients in
PROACTIVE-HF, their U.S. investigational device exemption (IDE)
clinical trial, and SIRONA II, their CE Mark clinical trial. The
studies seek to demonstrate the benefits of PA pressure-guided
therapy for the remote management of chronic heart failure patients
and provide market access for the Cordella™ PA Sensor. Full trial
enrollment remains a core focus as the company plans for commercial
launch of the Cordella PA sensor.
About Endotronix
Endotronix, Inc., a medical
technology company, delivers an integrated platform that provides
comprehensive, reimbursable health management innovations for
patients suffering from advanced heart failure. Their solution, the
Cordella™ Heart Failure System, includes a cloud-based disease
management data system and at home hemodynamic management with a
breakthrough implantable wireless pulmonary artery pressure sensor
for early detection of worsening heart failure. Learn more at
www.endotronix.com.
The Cordella System, without the sensor, is available for
commercial use in the U.S. and E.U. and is currently in cardiology
centers across the U.S. The Cordella PA Sensor is currently under
clinical investigation in Europe
(SIRONA II CE Mark Trial) and the U.S. (PROACTIVE-HF IDE Trial) and
is not currently available for commercial use in any geography.
Cautionary Statement Regarding Forward-Looking
Statements
This press release may contain predictions,
estimates or other information that might be considered
forward-looking statements. Such forward-looking statements are not
a guarantee of future performance.
MEDIA CONTACT:
Carla Benigni
PRIG Consulting, LLC
+1 (847) 951-7430
carla@sprigconsulting.com
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SOURCE Endotronix, Inc.