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CorNova Announces Addition of Andrew T. Jay, D.M.D., M.B.A., to its Board of Directors


3/3/2009 10:07:48 AM

BURLINGTON, Mass., Mar. 3 /PRNewswire/ -- CorNova, Inc. today announced the addition of Andrew T. Jay, D.M.D., to its board of directors. The addition increases board membership to 4.

(Logo: http://www.newscom.com/cgi-bin/prnh/20070206/CLTU213LOGO )

Dr. Jay, 46, is the managing partner of the Medical Solutions Fund of Siemens Venture Capital GmbH, the venture organization for Siemens AG. Prior to joining Siemens Venture Capital, he was an Institutional Investor-ranked medical technology analyst with both Alex. Brown and Wachovia Securities, where his coverage included cardiovascular device companies. Dr. Jay received his D.M.D. from the University of Pennsylvania and his M.B.A. from the Kellogg School at Northwestern. He earned his B.S. from Rensselaer Polytechnic Institute.

"Adding such an accomplished and experienced venture investor and medical technology analyst to our board is an important step in the development of CorNova," said S. Eric Ryan, M.D., CorNova's chief executive officer. "His advice will be invaluable as our company advances our FiberHalo(TM) angioplasty catheter toward commercialization, and we move forward to CE-Mark approval for our Valecor Platinum(TM) Coronary Stent System."

"CorNova's FiberHalo catheter and Valecor Platinum Coronary Stent System address two separate billion dollar market opportunities with approaches that could sell well on their own or shift market share significantly in the hands of a major player in the cardiovascular space," said Dr. Jay. He is taking this role independent of his activity at Siemens Venture Capital.

About CorNova

CorNova is a developer of next-generation endovascular products designed to integrate new technologies into existing products and procedures, resulting in better patient outcomes without added procedure time, cost and patient risk. The company's FiberHalo(TM) stent deployment and post-dilatation angioplasty balloon catheters are designed to provide stent lumen area measurement within the angioplasty catheter itself. CorNova is also developing a pre-dilatation form of the FiberHalo catheter that can obtain information on an arterial plaque's composition, allowing for superior treatment selection, and the Valecor Platinum(TM) Coronary Stent, an advanced "bare-metal stent" with an ion-infused pure platinum surface that has shown superior performance and anti-restenosis properties compared to current bare-metal stents. For more information, visit www.cornova.com.



CONTACT: Robert Flamm, Ph.D., robert.flamm@russopartnersllc.com, or David
Schull, david.schull@russopartnersllc.com, both of Russo Partners,
+1-212-845-4226, for CorNova Inc.

Web site: http://www.cornova.com/



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