HOUSTON, Jan. 4 /PRNewswire/ -- IDev Technologies, Inc. (IDev), an emerging leader in the development and marketing of minimally invasive systems for the treatment of peripheral vascular disease, today announced the appointment of Thomas M. Tully as its Chairman and Chief Executive Officer (CEO), effective January 1, 2006. Company founder and former CEO, Jeffery J. Sheldon, will retain the position of President, Chief Operating Officer (COO) and Board member. "IDev's impressive technology represents a unique opportunity to significantly impact the rapidly growing market for medical devices for the treatment of peripheral vascular disease. I am particularly excited about the near term launch of the SureSave(TM) stent which has the potential to create a new standard of care in peripheral interventions. I look forward to working with Jeff and the rest of the team to make IDev a commercial success by positively impacting patient care," commented Mr. Tully. Mr. Tully brings to IDev over 30 years of management experience in the development and commercialization of medical devices, including the launch of the Palmaz stent and the Wallstent. From August 2000 to his retirement in April 2005, Mr. Tully was the President and Chief Executive Officer of Neothermia Corporation, a medical device company. For the five years prior to joining Neothermia he served as President and CEO of NMT Medical, a company focused on the development and marketing of innovative, minimally invasive medical devices. Additionally, Mr. Tully has served as President of the Institute of Molecular Biology, Inc., a biotechnology company focused on tissue repair and regeneration and as President of Organogenesis, Inc., a biotechnology company focused on the commercialization of medical device applications of tissue engineering. Prior to that Mr. Tully served for three years as the President of the Schneider division of Pfizer, Inc. and spent nine years in various executive positions in consumer products and medical devices at Johnson & Johnson including the founding President of Johnson & Johnson Interventional Systems. "We are extremely pleased to have Tom as our new Chairman & CEO. Tom brings extensive experience in managing emerging growth medical companies, particularly in interventional radiology, cardiology and vascular surgery," stated Mr. Sheldon. IDev is an Innovator and Developer of next generation minimally invasive medical devices for the treatment of peripheral vascular disease by interventional radiologists, vascular surgeons, and cardiologists. IDev's current portfolio contains over thirty technologies exclusively licensed from the M. D. Anderson Cancer Center representing over a $5.0 B market opportunity. IDev has successfully launched two product lines worldwide and anticipates the launch of a third product line, the SureSave(TM) stent for use in non-vascular and peripheral vascular procedures in early 2006.
SOURCE IDev Technologies, Inc.