CHICAGO, May 3, 2017 /PRNewswire/ -- Chicago based Rheoxtech LLC has appointed David W.J. Smith as its first President. David has 30 years' experience in founding, developing and providing successful exits for medical device businesses and their investors. He originally started his career in the UK, before moving to the US and immersing himself in medical device startup companies in the San Francisco Bay Area. His most recent notable success was as the founding CEO of Tenaxis Medical Inc, a surgical sealant business. He coordinated the development, regulatory approvals and product commercialization for the company. He assisted in raising $22M for the company over 4 different funding series. Tenaxis Medical was acquired by The Medicines Company in 2014 for a payment of up to $178M. Beyond this, David has deep and broad experience in the fields of interventional cardiology, cardiac and vascular surgery, general surgery and ophthalmology.
Rheoxtech was founded by cardiac surgeon Neil J. Thomas MD and serial entrepreneur Gintaras Vaisnys. It is building on the pioneering work of Dr Thomas, a longtime proponent of controlling cardiac oxygen re-exposure as part of the protection of the heart during surgery, particularly for patients that are hemodynamically unstable and those in cardiogenic shock.
Mr. Vaisnys commented, "We are delighted to attract someone of David's caliber to this critical role. He has exactly the right blend of project management, fund raising and business development experience we were seeking to drive outstanding shareholder returns."
Rheoxtech LLC is a closely held private company, committed to the development of devices for protected reperfusion in percutaneous coronary intervention (PCI) and cardiac surgery.
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SOURCE Rheoxtech LLC