Zug, Germany, Jan 15, 2008 - (Hugin via ABN Newswire) - ZUG, Switzerland, January 14, 2008 - Intelligent Medical Implants AG ("IMI") (www.intmedimplants.com), announced today that it has appointed André-Michel Ballester and Vincent A. Bucci to its board of directors.
We are very pleased that Vin and André-Michel have agreed to join our board," said Dr. Stephen J. McCormack, Chairman of the Board at IMI. Their addition will greatly strengthen our capabilities at a time when the company is initiating significant clinical trials with our retinal implant device for restoration of sight to the blind."
Mr. Ballester has more than 20 years of experience in the medical field. He is currently a member of the Board and CEO of the Sorin Group, the largest European cardiovascular company and world leader in medical technologies for cardiac surgery. Mr. Ballester has been with the Sorin Group since 2004, previously as President of the Cardiac Rhythm Management Business Unit. Mr. Ballester was, from 2000 to 2004, Corporate Vice President EMEA, Asia and Latin America for Edwards Lifesciences. For over ten years prior to Edwards' spin-off from Baxter, Mr. Ballester also held several executive positions with Baxter in Europe and in the USA, and was appointed President, CardioVascular Group, Europe in 1997.
Mr. Bucci has 30 years of management and directorship experience in the medical field, mainly focused on the areas of regulatory approval, clinical trails and reimbursement for new products. Since 1992 Mr. Bucci has run his own company, HPA Inc. as president and founder. HPA Inc. provides research/consulting services to the medical device, biotech and pharmaceutical industries regarding all facets of international and FDA clinical and regulatory requirements focusing on product approval processes and reimbursement strategy. Prior to this Mr. Bucci spent 11 years with Pfizer Hospital Products Group and 4 years with a Washington law firm. Mr. Bucci is also currently Chairman of the Board of AngioDynamics Inc., New York, having previously served as Chairman of the board of RITA Medical Systems, which was acquired by AngioDynamics in January 2007.
Mr. Ballester said, "I am pleased and honoured to be elected to the Board of Directors at IMI. This is one of the most exciting technologies that I have encountered in my experience within medical devices."
Mr. Bucci commented, "The clinical development and approval of this device has the potential to greatly improve the lives of blind individuals throughout the world."
About the Learning Retinal Implant System(TM) IMI's Learning Retinal Implant System(TM) replaces the signal-processing functions of a healthy retina and provides input to the retinal nerve cells (the ganglion cells) that, in turn, provide input to the optic nerve and the brain. The System comprises three main components: (1) an implant, "The Retinal Stimulator", which is surgically placed into the eye of a patient, who (2) wears a pair of spectacles containing an integrated mini-camera and transmitter components for wireless signal and energy transmission ("The Visual Interface"). Via a cable, the spectacles are connected to (3) "The Pocket Processor" worn at the patient's waist. This device replaces the information processing function of the formally healthy retina. The use of a high-speed digital signal processor allows the provision of "intelligent information" to the implant (and the nerve cells) by using tuneable software to approximate the information processing normally carried out by the healthy retina. The entire process enables patients to optimize their visual perception during the learning phase. Indeed, using the patient's feedback on perception as an input for the tuning of The Pocket Processor is the unique, patent-protected feature of the System and constitutes the 'learning' capability of the Learning Retinal Implant System(TM).
About IMI Intelligent Medical Implants ("IMI") IMI Intelligent Medical Implants AG, based in Zug, Switzerland - with its subsidiary IMI Intelligent Medical Implants GmbH in Bonn, Germany - is developing the Learning Retinal Implant System(TM), the first product of its developing neuro-prosthetics technology platform. The Company's platform aims to give blind people useful visual functionality. The technology integrated into the Company's first product will permit the development, marketing and licensing of further learning neural prostheses for active "intelligent" implantable medical devices. The main shareholders of IMI are Global Life Science Ventures, Abingworth Management and Polytechnos Venture Partners.
Safe-Harbor Statement This press release may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Company. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements.
# # # # #
Contact: Andrew Moore Tel: +41 41 723 3838 Email andrew.moore@intmedimplants.com
The press release can be downloaded from the following link:
LINK: http://hugin.info/138730/R/1182021/235847.pdf
Copyright © Hugin ASA 2008. All rights reserved.
IMI Intelligent Medical Implants AG
http://www.intmedimplants.com
Stock Identifier: GER.IMIAG
We are very pleased that Vin and André-Michel have agreed to join our board," said Dr. Stephen J. McCormack, Chairman of the Board at IMI. Their addition will greatly strengthen our capabilities at a time when the company is initiating significant clinical trials with our retinal implant device for restoration of sight to the blind."
Mr. Ballester has more than 20 years of experience in the medical field. He is currently a member of the Board and CEO of the Sorin Group, the largest European cardiovascular company and world leader in medical technologies for cardiac surgery. Mr. Ballester has been with the Sorin Group since 2004, previously as President of the Cardiac Rhythm Management Business Unit. Mr. Ballester was, from 2000 to 2004, Corporate Vice President EMEA, Asia and Latin America for Edwards Lifesciences. For over ten years prior to Edwards' spin-off from Baxter, Mr. Ballester also held several executive positions with Baxter in Europe and in the USA, and was appointed President, CardioVascular Group, Europe in 1997.
Mr. Bucci has 30 years of management and directorship experience in the medical field, mainly focused on the areas of regulatory approval, clinical trails and reimbursement for new products. Since 1992 Mr. Bucci has run his own company, HPA Inc. as president and founder. HPA Inc. provides research/consulting services to the medical device, biotech and pharmaceutical industries regarding all facets of international and FDA clinical and regulatory requirements focusing on product approval processes and reimbursement strategy. Prior to this Mr. Bucci spent 11 years with Pfizer Hospital Products Group and 4 years with a Washington law firm. Mr. Bucci is also currently Chairman of the Board of AngioDynamics Inc., New York, having previously served as Chairman of the board of RITA Medical Systems, which was acquired by AngioDynamics in January 2007.
Mr. Ballester said, "I am pleased and honoured to be elected to the Board of Directors at IMI. This is one of the most exciting technologies that I have encountered in my experience within medical devices."
Mr. Bucci commented, "The clinical development and approval of this device has the potential to greatly improve the lives of blind individuals throughout the world."
About the Learning Retinal Implant System(TM) IMI's Learning Retinal Implant System(TM) replaces the signal-processing functions of a healthy retina and provides input to the retinal nerve cells (the ganglion cells) that, in turn, provide input to the optic nerve and the brain. The System comprises three main components: (1) an implant, "The Retinal Stimulator", which is surgically placed into the eye of a patient, who (2) wears a pair of spectacles containing an integrated mini-camera and transmitter components for wireless signal and energy transmission ("The Visual Interface"). Via a cable, the spectacles are connected to (3) "The Pocket Processor" worn at the patient's waist. This device replaces the information processing function of the formally healthy retina. The use of a high-speed digital signal processor allows the provision of "intelligent information" to the implant (and the nerve cells) by using tuneable software to approximate the information processing normally carried out by the healthy retina. The entire process enables patients to optimize their visual perception during the learning phase. Indeed, using the patient's feedback on perception as an input for the tuning of The Pocket Processor is the unique, patent-protected feature of the System and constitutes the 'learning' capability of the Learning Retinal Implant System(TM).
About IMI Intelligent Medical Implants ("IMI") IMI Intelligent Medical Implants AG, based in Zug, Switzerland - with its subsidiary IMI Intelligent Medical Implants GmbH in Bonn, Germany - is developing the Learning Retinal Implant System(TM), the first product of its developing neuro-prosthetics technology platform. The Company's platform aims to give blind people useful visual functionality. The technology integrated into the Company's first product will permit the development, marketing and licensing of further learning neural prostheses for active "intelligent" implantable medical devices. The main shareholders of IMI are Global Life Science Ventures, Abingworth Management and Polytechnos Venture Partners.
Safe-Harbor Statement This press release may contain forward-looking statements, including 'forward-looking statements' within the meaning of the United States Private Securities Litigation Reform Act of 1995. These forward-looking statements are based upon current expectations and assumptions regarding anticipated developments and other factors affecting the Company. They are not historical facts, nor are they guarantees of future performance. Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause actual results to differ materially from those expressed or implied by these forward-looking statements.
# # # # #
Contact: Andrew Moore Tel: +41 41 723 3838 Email andrew.moore@intmedimplants.com
The press release can be downloaded from the following link:
LINK: http://hugin.info/138730/R/1182021/235847.pdf
Copyright © Hugin ASA 2008. All rights reserved.
IMI Intelligent Medical Implants AG
http://www.intmedimplants.com
Stock Identifier: GER.IMIAG
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