ZURICH, July 11, 2016 /PRNewswire/ --
Sequana Medical AG, a privately held medical device company focused on the development and commercialization of innovative, implantable pump systems that manage fluid build-up occurring in patients with liver disease, heart disease and certain cancers, announced today the appointment of Ian Crosbie as Chief Financial Officer.
"We are delighted to welcome Ian to Sequana Medical. He is an excellent choice for Chief Financial Officer, with 25 years of experience, both in-house at medical device and pharmaceutical companies, and as an investment banker at several leading global firms. His expertise and strong track record in capital markets, licensing and strategic transactions strengthens the management team and will be instrumental in both the strategic positioning of Sequana and the successful commercialization of the alfapump® system for patients with liver disease globally, as well as the expansion of our pump technology to the management of fluid overload in advanced heart failure," stated Noel L. Johnson, Ph.D., Chief Executive Officer of Sequana Medical.
"Sequana Medical has developed and started commercializing an elegant, yet simple solution to the problem of chronic fluid overload inside the body - thereby solving a major medical problem with few therapeutic options and significantly improving patient quality of life and reducing healthcare costs. I believe strongly in the value proposition that this Company represents and look forward to working with the entire management team and Board to reach our operational and financial objectives," said Ian Crosbie.
Prior to joining Sequana Medical, Mr. Crosbie was Chief Financial Officer of GC Aesthetics Ltd. based in Dublin. Before that, Mr. Crosbie was Senior Vice President, Corporate Development at Circassia Pharmaceuticals plc, a late-stage biopharmaceutical company focused on allergy immunotherapy where he led the execution of the company's ₤210 million IPO, as well as the M&A & licensing activities. Prior to Circassia, Mr. Crosbie enjoyed a 20-year career in corporate finance, including Managing Director, Healthcare Investment Banking at Jefferies International Limited and Director, Healthcare Investment Banking at Deutsche Bank. In addition he was a founding partner at Gargoyle Partners / Ferghana Partners.
Mr. Crosbie served as a Second Lieutenant in the 32nd Armoured Engineer Regiment of the British Army and earned a degree in Engineering, Economics and Management from Oxford University.
Note to Editors
About Sequana Medical:
Sequana Medical is a commercial stage medical device company and the leader in the active transport of fluids within the body.
Our first product, the alfapump® System, is a fully implantable battery-powered pump that is charged through the skin, for the management of refractory ascites (chronic fluid build-up in the abdomen), a frequent complication of late-stage liver disease and certain cancers. The alfapump System is one of the first real alternatives to large-volume paracentesis, a lengthy, invasive and painful procedure that can require weekly hospital visits for drainage of excess fluid. By moving ascites to the bladder, where the body can eliminate it naturally through urination, the alfapump System prevents fluid build-up and its possible complications, improving patient quality of life and reducing hospital visits and healthcare costs. Our DirectLink Technology allows clinicians to monitor pump performance and more effectively manage patients treated by the alfapump System. The alfapump has received the CE Mark and is commercially available in 14 countries. The alfapump System is currently under evaluation in the US under an IDE study which will be completed by the end of 2016.
We will commence a feasibility study for the use of the alfapump in the management of fluid overload in advanced heart failure before the end of 2016. Fluid removal via peritoneal dialysis is an effective therapeutic approach for advanced heart disease. We believe our technology can directly address the key clinical challenge of fluid overload, with significant benefits for diuretic refractory patients, including those with HFpEF where there are few current device options. Other indications where Sequana Medical's pump technology has clinical benefit include malignant ascites and chronic pleural effusion.
The Company is headquartered in Zurich, Switzerland and our investors include NeoMed Management, VI Partners, Biomed Invest, Capricorn Health Tech, Entrepreneur's Fund and Life Science Partners. For further information, please visit http://www.sequanamedical.com.
Marketing & Communications Associate
Rx Communications Group (Investors and Media)
Melody A. Carey
SOURCE Sequana Medical AG