ISELIN, N.J., May 2 /PRNewswire-FirstCall/ -- SyntheMed, Inc. (OTC
Bulletin Board: SYMD), a biomaterials company engaged in the development
and commercialization of anti-adhesion and drug delivery products, today
announced the appointment of Marc R. Sportsman to the newly-created
executive officer position of Vice President of Sales. Mr. Sportsman brings
to the Company over twenty years of sales experience in the cardiac device
industry. He most recently served as Vice President of Sales at ATS
Medical, Inc. and held previous sales positions of increasing
responsibility with St. Jude Medical, Inc. and Shiley, Inc. Mr. Sportsman's
responsibilities will include the recruitment of a field sales organization
and development of sales strategy, programs and procedures in support of
the planned US launch of REPEL-CV(R) Adhesion Barrier, the Company's novel
anti-adhesion product designed for use in cardiothoracic surgical
procedures. On March 28, 2007, the Company announced that the US Food and
Drug Administration (FDA) accepted for review the Company's Pre-market
Approval (PMA) application for REPEL-CV.
Robert P. Hickey, SyntheMed's President & CEO stated, "We are extremely
fortunate to have attracted a sales executive of Marc's caliber to this
critically important position. The Company will immediately benefit from
Marc's extensive experience in cardiac device sales and his broad network
of relationships with cardiac surgeons, clinical support staff and hospital
administration. Our first opportunity to leverage Marc's background will be
at next week's American Association of Thoracic Surgery convention in
Washington, DC at which SyntheMed will be featuring REPEL-CV."
About Adhesions
Adhesions, or scar tissue, occur after virtually all open-heart
surgical procedures, often resulting in the heart becoming attached to the
sternum and other surround tissue surfaces. The presence of adhesions
represents a prevalent and serious complication in secondary surgical
procedures, increasing the length, cost and risk of the surgical procedure.
There are an estimated 500,000 open heart surgeries performed annually in
the United States, and another 350,000 estimated in the European Union. In
both markets, approximately 15-20 percent of these surgeries are secondary
procedures.
About REPEL-CV
REPEL-CV is a bioresorbable adhesion barrier film designed to be placed
over the surface of the heart at the conclusion of the open-heart surgical
procedure to reduce the extent and severity of adhesions that form between
the surface of the heart and the inner surface of the sternum following the
surgical procedure. REPEL-CV is designed to provide the therapeutic benefit
and then degrade so that it is cleared from the surgical site. REPEL-CV is
marketed internationally and may be launched in the US, pending FDA
approval, during the second half of 2007.
About SyntheMed, Inc.
SyntheMed, Inc. is a biomaterials company engaged in the development
and commercialization of anti-adhesion and drug delivery products. The
Company is primarily focused on the advancement and expansion of product
development programs based on its proprietary bioresorbable polymer
technology.
Statements in this Press Release that are not statements of historical
fact, including statements regarding indications of the timing or ability
to achieve regulatory approval and market launch for REPEL-CV or the
potential market size for REPEL-CV, constitute "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause the actual results,
performance or achievements of the Company, or industry results, to be
materially different from any future results, performance, or achievements
expressed or implied by such forward-looking statements. Such risks and
uncertainties include but are not limited to (i) potential adverse
developments regarding the Company's efforts to obtain and maintain
required FDA and other regulatory approvals; (ii) potential inability to
secure funding as and when needed to support the Company's future
activities and (iii) unanticipated delays associated with manufacturing and
marketing activities. Reference is made to the Company's Annual Report on
Form 10-KSB for the year ended December 31, 2006 for a description of
these, as well as other, risks and uncertainties.
SOURCE SyntheMed, Inc.
No comments:
Post a Comment