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CorNova Expands Management Team with Appointment of Robert Gallahue as Chief Financial Officer


2/17/2009 11:36:26 AM

Company Also Names Richard Sahagian as Senior Scientist

BURLINGTON, Mass., Feb. 17 /PRNewswire/ -- CorNova(R), Inc. today announced the expansion of its executive team with the appointment of Robert Gallahue as chief financial officer. The company also announced the addition of Richard Sahagian as senior scientist.

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

The appointments reflect the evolution of the company's endovascular product line, which includes the FiberHalo(TM) stent deployment and post-dilatation balloon catheter, the FiberHalo(TM) pre-dilatation balloon catheter and the advanced Valecor Platinum(TM) Coronary Stent System.

"We needed to put in place the financial expertise required to move CorNova(R) closer to becoming an advanced development and commercial organization," said S. Eric Ryan, M.D., CorNova(R)'s chief executive officer. "Bob's depth of financial experience and knowledge of the biomedical industry will be a significant contribution to the growth and maturation of the company."

Gallahue, 48, has more than 20 years of financial management experience with public and private biotechnology and medical technology companies at various stages of clinical and commercial development. He has also successfully participated in a variety of financial transactions, including initial public offerings, mergers, joint ventures, private placements and follow-on offerings at a number of healthcare companies, including Molecular Insight Pharmaceuticals, Keryx Biopharmaceuticals and LeukoSite. He holds an M.S.A. from Bentley College and a B.A. from Middlebury College.

Sahagian, 46, has more than 20 years of experience in medical device development and production. He will be responsible for production of the Valecor Platinum(TM) Coronary Stent (a platinum surface-modified stent), as well as manage the research and development of advanced surface modification technologies. Prior to joining CorNova(R), Sahagian founded the medical device division at Implant Sciences Corp. He earned his B.S. from the University of Lowell.

About CorNova(R)

CorNova(R) 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 balloon catheter is designed for stent deployment, lumen area measurement and post-dilatation to be performed with a single catheter. CorNova(R) is also developing a pre-dilatation form of the FiberHalo that can obtain information on arterial plaque composition allowing for better physician decision making and the Valecor Platinum(TM) Coronary Stent, a platinum surface-modified bare-metal stent, 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

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



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CorNova
 
 

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