Valtech Cardio Ltd. Announces Appointment of CEO -- Medtech Veteran Bruce H. KenKnight Joins Valtech Team

OR YEHUDA, Israel, Feb. 9 /PRNewswire/ -- Valtech Cardio Ltd. announced today that Bruce H. KenKnight, PhD has joined the Valtech team serving as President and Chief Executive Officer.  This announcement comes on the heels of Valtech's recently announced Series B financing that totaled $17.8 million from new and existing investors (OXO Capital Valve Ventures, NGN Capital and Peregrine Ventures).

Bruce has more than 25 years of experience in medical device research and development (R&D) for small, mid- and large-cap companies.  He has held various positions of increasing responsibility in R&D and Business Development throughout his career, and most recently was VP of Research and Business Development in the cardiac rhythm management division of Boston Scientific Corporation.  Previously, Bruce was Director of Research and Emerging Technologies for Guidant Corporation while cardiac resynchronization therapy was developed and commercialized, which now generates in excess of $3 billion in annual worldwide revenue.  He is an inventor on more than 100 patents issued by the U.S. Patent and Trademark Office and has authored 150 scientific publications (peer-reviewed manuscripts, book chapters and abstracts).  In 2006, Bruce received, in Israel, the Albert Einstein Award for Outstanding Achievement in Life Sciences and, in 2007, he was elected to the College of Fellows in the American Institute of Medical and Biological Engineering.  Bruce earned a Bachelor of Science degree in mechanical engineering and a Masters and PhD in biomedical engineering, all from the Institute of Technology at the University of Minnesota.

"We are pleased that Bruce has joined our team.  He brings relevant experience and a level of passion for innovation that fits well with our team in Israel," said Amir Gross, Founder and Chief Operating Officer of Valtech Cardio Ltd.  "Bruce will guide key development and clinical programs focused on improvement of annuloplasty and chordal repair technologies that aid physicians during surgical (open and minimally-invasive) and fully percutaneous transcatheter mitral valve repair procedures.  Our team is developing a portfolio of products to address the needs of physicians committed to improving heart valve function," Gross added.

"The medical community continues to emphasize the need for advanced mitral valve repair and replacement solutions that are safe and effective," said Lawrence C. Best, Executive Chairman of the Board.  "We are witnessing a pronounced increase in attention and interest in mitral valve repair and replacement solutions by patients, physicians, investors and established medical device companies.  Bruce's addition to Valtech, in conjunction with our recent Series B financing, further strengthens our ability to deliver a broad set of next generation technologies for the mitral valve space."

About the Company--

Valtech Cardio Ltd. is a privately held medical device company engaged in development of a franchise comprising advanced minimally-invasive surgical and transcatheter mitral valve repair and replacement products designed to correct or significantly improve mitral valve function in ways that reduce or eliminate mitral regurgitation (MR).  MR is a serious heart disorder characterized by incomplete closure of the mitral valve.  The valve leakage (from the left ventricle into the left atrium), often called regurgitation, reduces the amount of blood that is pumped out of the heart during each contraction and is associated with other serious, progressive medical conditions, including chronically depressed heart function and atrial fibrillation, as well as serious debilitating symptoms such as shortness of breath and chronic fatigue.  MR is believed to be the most common form of valvular heart disease and is believed to afflict millions of patients worldwide.

Contact:

Lawrence C. Best


781-642-7600


Lbest@oxocap.com


SOURCE Valtech Cardio Ltd.



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