IDev Technologies, Inc. Appoints Thomas M. Tully as Chairman and CEO

Jan 04, 2006, 00:00 ET from IDev Technologies, Inc.

    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.