NEW YORK, Nov. 14, 2018 /PRNewswire/ -- Abyrx, Inc. (http://abyrx.com), a leading biomaterial sciences company with an initial focus on therapeutic technologies for use during surgical procedures, announced today that Gary D. Cohn has joined the company's board of directors. The announcement coincides with Abyrx exceeding 200,000 uses of its FDA-cleared products at more than 600 hospitals in the United States and achieving net operating profits.
"Abyrx possesses a superior technology platform that could have an enormous impact on the surgical industry and dramatically reduce cost for hospitals," said Cohn. "I am excited to join Abyrx's board and eager to help the company seize the huge growth opportunity ahead."
Cohn was most recently Director of the U.S. National Economic Council. As the chief economic advisor to President Donald Trump, he managed the President's global and domestic economic policy agenda and led the administration's efforts to grow the U.S. economy through historic tax and regulatory reform. Prior to his White House service, Cohn was President and Chief Operating Officer of Goldman Sachs, where he worked for more than 25 years and held a variety of leadership positions in the firm's Securities Division, including Global Co-Head of the Equities and Fixed Income, Currency and Commodities Divisions.
"We are thrilled to welcome Gary to our board," said Abyrx CEO John Pacifico. "Gary has an extraordinary track record of building successful big businesses and leading important changes at the highest levels in our nation. His passion for improving patient care and reducing system costs naturally complement Abyrx's business. Our next phase of growth and product development will benefit greatly from Gary's experience."
Abyrx continues to advance its technology platform and is focusing on surgical procedures of highest unmet needs. Abyrx's current lead asset, Montage® Settable Resorbable Hemostatic Bone Putty, is a hand moldable putty that is applied to cut or bleeding bones and hardens within minutes to achieve bone-like properties before fully resorbing during the bone remodeling process. Additional products in Abyrx's portfolio include AHBP®, Hemasorb®, and HemasorbPlus®, each of which offer incremental options to address bleeding bones and satisfy surgical needs. Additional development of the Abyrx technology platform is under pursuit for tissue fixation and intraoperative shaping of patient-specific implant devices.
Cohn joins Pacifico, investors Brent Ahrens of Canaan, John Sfondrini of MedEdge, and Independent Director Alan Levy, Ph.D. on Abyrx's board of directors. Abyrx's scientific team includes Richard Kronenthal, Ph.D. and Rao Bezwada, Ph.D., who, along with Dr. Levy, were former leaders of research and development at Johnson & Johnson, where they each received the prestigious Johnson Medal for conceiving of and leading the development of important medical devices whose total sales are in excess of $40 billion.
Founded in 2013, Abyrx develops, manufactures, and provides therapeutic devices for use during surgical procedures. The company's products are FDA-cleared for use in the United States and approved in both Europe and Canada. The privately-held company has more than 50 issued and pending patents and is headquartered just outside of New York City in Irvington, NY.
For more information, please visit www.abyrx.com.
Forward looking statements
Certain statements made in this announcement are forward-looking statements relating to Abyrx's future plans, objectives and projected performance. These forward-looking statements are based on certain assumptions that Abyrx believes are reasonable, but are subject to known and unknown risks and uncertainties. Abyrx's pipeline products are not currently available for sale or use and have not been approved by the U.S. Food and Drug Administration or any country's regulatory authority.
SOURCE Abyrx, Inc.