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NovaShunt AG, A Medical Device Company Focused On Implantable Fluid Management Systems, Incorporates In Switzerland And Hires European General Manager And Director


9/19/2006 9:04:54 AM

ZURICH, Switzerland, Sept. 19 /PRNewswire/ -- NovaShunt AG, a privately-held medical device company that designs, develops and markets proprietary, implantable automated fluid management systems today announced that it has incorporated as a Swiss company and appointed Berndt Samsinger, Ph.D. as it's European General Manager.

The Company recognizes that its products will serve a worldwide market. To create an early focus on European market opportunities, the company has established an office in Zurich, added several World renowned European though leaders to its Scientific Advisory Board, and appointed Dr. Samsinger to its Board of Directors.

Dr. Samsinger is a respected corporate financier based in Zurich. He has an MBA from Keio University in Tokyo, a Ph.D. from Hochschule St. Gallen and Universitat Zurich in economics, and is a graduate of the Swiss Banking School. Previously, he held many positions at Capital Stage AG, including CEO of Capital Stage AG Zurich. Dr. Samsinger speaks fluent German and English and is proficient in French, Italian and Japanese.

NovaShunt President and Chief Executive Officer Noel Johnson stated, "Dr. Samsinger's extensive financial background and strong European ties makes him a valuable asset to our Board. His arrival strengthens our management team substantially and compliments our business focus in Europe."

NovaShunt was founded in 2004 to develop and manufacture automated implantable pump systems to move fluids around inside the body. The company's initial product line focuses on a large unmet clinical need to remove excess fluid that accumulates in the abdominal cavity in patients with a variety of illnesses including liver disease, congestive heart failure and some types of cancer.

NovaShunt is currently completing its first round of financing and is seeking interested European investors.

About NovaShunt: Headquartered in Zurich, Switzerland, NovaShunt AG is the leading innovator of a new category of patented technologies and products designed to remove chronic fluid build-up in the body. NovaShunt is focused on areas of unmet clinical need where its products can significantly improve clinical outcome and patient quality of life. NovaShunt maintains research and manufacturing facilities in Saratoga, California. For more information, please visit www.novashunt.com or email NovaShunt at investors@novashunt.com.

Source: NovaShunt AG



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