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Nfocus Neuromedical, Inc. Appoints Eric Milledge Chief Executive Officer


10/25/2010 7:10:49 AM

PALO ALTO, Calif., Oct. 25 /PRNewswire/ -- Nfocus Neuromedical Inc., an innovative medical device company focused on the next generation treatment for brain aneurysms, today announced the appointment of Eric Milledge to Chairman and CEO effective immediately. Milledge has served as the company's Chairman of the Board since April 2009. Former CEO, Martin Dieck, will assume the role of President and COO.

Prior to joining Nfocus' Board, Milledge most recently served as Company Group Chairman for the LifeScan division of Johnson & Johnson and as a member of the J&J Medical Devices & Diagnostics Group Operating Committee. Milledge also previously held the position of President of Ortho-McNeil Pharmaceuticals, a world leader in women's healthcare, infectious disease and epilepsy.

"I am very excited about Eric joining the management team. Eric's 34 year history with J&J along with Martin's 18 year neurovascular experience is a powerful combination," said Mir Imran, Nfocus Director and CEO of InCube Labs. "The company's novel approach to treating aneurysms has the potential to become the new standard of care and is expected to offer significant benefits over coils. With Eric and Martin at the helm, I'm confident that Nfocus is poised for clinical and commercial success in this greatly important area of aneurysm therapy."

Nfocus is developing the next generation treatment for brain aneurysms called the LUNA, designed to be a direct replacement to detachable coils. It will provide physicians with a single-deployment, easy-to-use embolization device. Building off a strong patent position, Nfocus has conducted extensive testing of the LUNA with outstanding results.

Eric Milledge, Nfocus' newly appointed CEO commented, "Nfocus' LUNA technology has the potential to be a breakthrough in treating aneurysms. This is an exciting and critical time as we continue to expand our clinical trials in Europe, and I look forward to working closely with Martin and the Nfocus team as we strive to improve the standard of care for the treatment of aneurysms."

"We have made great progress since our founding including building a world-class team and developing the LUNA product. We now have major milestones ahead of us including LUNA clinical efforts, CE Mark and US regulatory approval," said Martin Dieck, President and COO. "Eric brings significant and highly relevant experience that will be instrumental as we enter this next phase of clinical studies, regulatory approvals and ultimately commercialization."

"I believe that there are great prospects for Nfocus with Eric and Martin leading the company," said Roger Quy, a Director of Nfocus and General Partner of Technology Partners, who specializes in neurotechnology investments. "With this leadership team in place, coupled with Nfocus' disruptive technology for the treatment of aneurysms, the company is in a great position to displace coils as the standard of care and capture a major market opportunity."

About Nfocus Neuromedical, Inc.

Nfocus is developing the next generation treatment for brain aneurysms. The company's innovative LUNA product is a single-deployment, easy-to-use embolization device designed to be a direct replacement to detachable coils. Nfocus is backed by a premier venture fund, Technology Partners (www.technologypartners.com). Other investors include InCube Ventures, Raffles Capital and Endeavor Vision. Nfocus was incubated at InCube Labs (www.incubelabs.com), a medical device research lab led by Mir Imran. To learn more about the Nfocus Neuromedical, please visit our website: www.nfocusneuro.com.

SOURCE Nfocus Neuromedical Inc.


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