MARLBOROUGH, Mass., June 5, 2019 /PRNewswire/ -- CeQur® announced that the company has appointed Bradley Paddock as chief executive officer, effective today. Paddock brings a track record of commercial medtech successes, notably leading sales up to $600 million during his eight-year tenure at Kyphon, Inc. Paddock also managed successful commercial operations for multiple industry-leading companies, including Stryker, Bausch + Lomb, Inc., and Medtronic, Inc.
"The Board unanimously voted in favor of Brad's appointment and we are thrilled to welcome someone of such caliber to the team," said Eric Milledge, executive chairman of CeQur. "The sales increase he drove at Kyphon resulted in an acquisition by Medtronic for $4.2 billion. We believe that this accomplishment, in addition to his impressive history developing commercial organizations, will ensure that CeQur is best placed for rapid development ahead of our launch of the PAQ MEAL insulin delivery device in early 2020."
Robert Farra, who served as CeQur's CEO since November 2016, will move into a new role as chief technology officer for the company.
"Bob Farra successfully led CeQur through several significant pre-commercial hurdles, including the development of our commercial-ready wearable platform, and helped the company acquire Calibra," Milledge said. "We are grateful and honored that he will continue leading the charge on CeQur's novel platform technology as our new chief technology officer."
Paddock started his career as a sales representative at Ethicon Endo-Surgery, a Johnson & Johnson, Inc., company, before joining Kyphon in 1999. At Kyphon, Paddock helped propel one of the most successful medical device start-ups in history. After Medtronic acquired the company for $4.2 billion, Paddock joined Bausch + Lomb, Inc. As the vice president of Global Sales and Marketing, he led the turnaround of the $650 million surgical ophthalmology business. Most recently, Paddock served as global president of the Global Spine Division for Stryker, where he transformed multiple, key functions to pave the way for a successful acquisition.
"I was drawn to CeQur because it has all the hallmarks of a successful, commercial medical device company, including novel technology that addresses a large, unmet patient need, a stellar leadership team and strong financial backing," said Paddock. "I look forward to working with the team to bring PAQ MEAL and PAQ TOTAL to the market."
The CeQur PAQ products provide three days of glucose control with injection-free dosing in a discreet patch to help people with diabetes overcome the insulin-delivery barriers that prevent nearly 70 percent of U.S. insulin users from achieving the blood glucose (HbA1c) targets recommended by the American Diabetes Association. The company's portfolio includes PAQ MEAL™ (formerly known as OneTouch Via and Calibra Finesse) and PAQ TOTAL™ (formerly known as the PAQ® Insulin Delivery Device). PAQ MEAL provides on-demand mealtime insulin delivery while PAQ TOTAL delivers both basal and on-demand mealtime insulin.
CeQur is commercializing advanced, simple-to-use insulin delivery devices that make it easier for people living with diabetes to adhere to therapy and stay in control of their disease. The Company's simple, three-day, wearable devices provide freedom from multiple daily insulin injections. More information can be found at www.cequr.com.
OneTouch® and OneTouch Via™ are trademarks of Johnson & Johnson.