Helius Medical Technologies, Inc. (Nasdaq:HSDT) (TSX:HSM) (“Helius”
or the “Company”), a neurotech company focused on neurological
wellness, today announced that Dane C. Andreeff and Jeffrey S.
Mathiesen have been appointed to the respective positions of
President and Chief Executive Officer and Chief Financial Officer,
effective June 14, 2021. Joyce LaViscount will continue to serve as
the Company’s Chief Operating Officer.
Mr. Andreeff has served as Helius’ Interim
President and Chief Executive Officer since August 2020 and as a
member of the Company’s Board of Directors since August 2017. Mr.
Mathiesen served as a member of Helius’ Board of Directors and
Chair of the Company’s Audit Committee from June 2020 to June
2021.
“After significant evaluation and deliberation,
my fellow board members and I are very pleased to announce the
appointment of Dane and Jeff to the executive leadership team,”
said Blane Walter, Chairman of the Board of Directors of Helius.
“Dane and Jeff possess an important combination of strong
leadership skills and extensive experience in managing companies
and guiding their strategic development, making them ideal
candidates to lead Helius as we enter the next stage of growth and
development as an organization.”
Mr. Walter continued: “In addition to these
qualities, Dane and Jeff are highly skilled financial executives
with more than 20 years of senior-level financial leadership
experience, are well-versed in our business and its strategic
priorities, and have demonstrated their strategic expertise and
insight through their prior roles at Helius. We look forward to
their future contributions as members of our executive leadership
team.”
“As a strong believer in both the PoNSTM
technology and its ability to improve the lives of patients, as
well as the capabilities and commitment of our organization to
facilitating its availability and adoption, I am excited to assume
the role of President and Chief Executive Officer,” said Mr.
Andreeff. “Looking ahead, I remain committed to building upon the
recent progress made during the last year, and delivering strong,
strategic and operational execution for the benefit of patients,
providers, payors, and shareholders.”
“It is a great pleasure to join the Helius
executive leadership team at such an exciting and important point
in the Company’s history,” said Mr. Mathiesen. “I look forward to
contributing to Helius’ success as we position the Company for
growth during this crucial next phase.”
About Dane C. Andreeff
Mr. Andreeff served as Interim President and
Chief Executive Officer of Helius since August 2020, and serves as
the General Partner and Portfolio Manager at Maple Leaf Partners,
LP, which owns approximately 5% of Helius’ outstanding Class A
common stock. Maple Leaf Partners, LP is a hedge fund founded by
Mr. Andreeff, where he has been employed since 1996. In 2003, the
fund was seeded by Julian Robertson’s Tiger Management and later
grew to over $2 billion in assets under management.
Mr. Andreeff has served as a member of the Board
of Directors of HDL Therapeutics, Inc., a privately held medical
technology and device company focused on infusing plasma with
preβ-HDL for the treatment of multiple cardiovascular indications,
since 2012, and Myocardial Solutions, Ltd., a privately held
medical technology company with an FDA-cleared cardiac MRI software
known as MyoStrain® that provides a 10-minute test for detecting
heart dysfunction in multiple cardiovascular indications –
including cardiotoxicity in cancer treatment, since 2016.
Mr. Andreeff received his Bachelor’s degree in
Economics from the University of Texas at Arlington in 1989 and his
Master’s degree in Economics from the University of Texas at
Arlington in 1991.
About Jeffrey S. Mathiesen,
CPA
Mr. Mathiesen has nearly 30 years of experience
as Chief Financial Officer of growth oriented, technology-based
companies across a wide range of industries including
biopharmaceutical and medical device companies. His experience
includes three initial public offerings on Nasdaq, new product
launches and multiple M&A transactions. Mr. Mathiesen
previously served as Chief Financial Officer of Gemphire
Therapeutics Inc., a publicly traded, clinical-stage
biopharmaceutical company, and as Chief Financial Officer of
Sunshine Heart, Inc., a publicly traded, early-stage medical device
company.
Mr. Mathiesen currently serves as Director and
Audit Committee Chair of NeuroOne Medical Technologies Corporation,
a publicly-traded medical technology company providing
neuromodulation continuous EEG monitoring and treatment solutions
for patients suffering from epilepsy and other nerve related
disorders, and as Lead Independent Director and Audit Committee
Chair of Panbela Therapeutics, Inc., a publicly-traded,
clinical-stage biopharmaceutical company developing therapies for
pancreatic diseases.
Mr. Mathiesen began his career at Deloitte & Touche LLP in
1983. He received a B.S. in Accounting from the University of South
Dakota and is also a Certified Public Accountant.
About Helius Medical Technologies, Inc.
Helius Medical Technologies is a neurotech company focused on
neurological wellness. The Company’s purpose is to develop, license
and acquire unique and non-invasive platform technologies that
amplify the brain’s ability to heal itself. The Company’s first
commercial product is the Portable Neuromodulation Stimulator
(PoNSTM). For more information,
visit www.heliusmedical.com.
About the PoNS™ Device and PoNS Treatment™
The Portable Neuromodulation Stimulator (PoNSTM)
is an innovative non-surgical device, inclusive of a controller and
mouthpiece, which delivers electrical stimulation to the surface of
the tongue to provide treatment of gait deficit. The PoNS device is
indicated for use in the United States as a short term treatment of
gait deficit due to mild-to-moderate symptoms from multiple
sclerosis (“MS”) and is to be used as an adjunct to a supervised
therapeutic exercise program in patients 22 years of age and over
by prescription only. It is authorized for sale in Canada as a
class II, non-implantable, medical device intended as a short term
treatment (14 weeks) of gait deficit due to mild and moderate
symptoms from MS, and chronic balance deficit due to
mild-to-moderate traumatic brain injury (“mmTBI”) and is to be used
in conjunction with physical therapy. PoNS is an investigational
medical device in the European Union (“EU”) and Australia (“AUS”).
It is currently under premarket review by the AUS Therapeutic Goods
Administration.
Investor Relations Contact:
Westwicke on behalf of Helius Medical Technologies, Inc.Jack
Powell, Vice Presidentinvestorrelations@heliusmedical.com
Cautionary Disclaimer Statement:
Certain statements in this news release are not based on
historical facts and constitute forward-looking statements or
forward-looking information within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and Canadian securities
laws. All statements other than statements of historical fact
included in this news release are forward-looking statements that
involve risks and uncertainties. Forward-looking statements are
often identified by terms such as “believe,” “continue,” “looking
ahead,” “will,” “committed to,” “goal,” “expect,” “remain,” “hope”
and similar expressions. Such forward-looking statements include,
among others, statements regarding the Company’s future strategic
and operational execution, the next phase of the Company’s market
development activities, clinical and regulatory development plans
for the PoNS device, and the timing and success of the Company’s
commercialization efforts in the United States.
These statements involve substantial known and unknown risks and
uncertainties. There can be no assurance that such statements will
prove to be accurate and actual results and future events could
differ materially from those expressed or implied by such
statements. Important factors that could cause actual results to
differ materially from the Company’s expectations include
uncertainties regarding the Company’s capital requirements to
achieve its business objectives, the impact of the COVID-19
pandemic, the Company’s ability to train physical therapists in the
supervision of the use of the PoNS Treatment, the Company’s ability
to secure contracts with rehabilitation clinics, the Company’s
ability to obtain national Medicare coverage and to obtain a
reimbursement code so that the PoNS device is covered by Medicare
and Medicaid, the Company’s ability to build internal commercial
infrastructure, market awareness of the PoNS device, future
clinical trials and the clinical development process, manufacturing
and supply chain risks, potential changes to the MCIT program, the
product development process and FDA regulatory submission review
and approval process, other development activities, ongoing
government regulation, and other risks detailed from time to time
in the “Risk Factors” sections of the Company’s Annual Report on
Form 10-K for the year ended December 31, 2020, its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2021 and its
other filings with the United States Securities and Exchange
Commission and the Canadian securities regulators, which can be
obtained from either at www.sec.gov or www.sedar.com.The reader is
cautioned not to place undue reliance on any forward-looking
statement. The forward-looking statements contained in this news
release are made as of the date of this news release and the
Company assumes no obligation to update any forward-looking
statement or to update the reasons why actual results could differ
from such statements except to the extent required by law.
The Toronto Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the content of this
news release.
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