Lexington, Mass. August 19, 2010 – GI Dynamics, a leader in non-surgical, endoscopic treatments for type 2 diabetes and obesity, today announced two additions to its management team, appointing Wade Fox to vice president, marketing and Karl Blohm, Ph.D., to the newly created role of vice president, international. These strategic appointments come as GI Dynamics prepares to launch its EndoBarrier™ Gastrointestinal Liner, an innovative, non-surgical therapeutic for the treatment of type 2 diabetes and obesity, in Europe this fall.
“We are pleased to welcome Wade and Karl to the GI Dynamics team as we prepare for the European launch of EndoBarrier,” stated Stuart A. Randle, chief executive officer of GI Dynamics. “This is a very exciting time for GI Dynamics. We are confident that Wade’s expertise in marketing medical devices in global markets, and Karl’s experience successfully launching innovative technologies in Europe, will add substantial value to our team and further strengthen the commercialization efforts in support of the EndoBarrier launch.”
Mr. Fox joins GI Dynamics from Covidien and brings more than 20 years of medical device marketing experience in all aspects of company development, strategic planning and marketing, customer and physician network building and account development, as well as company and product branding and positioning. Most recently at Covidien, he served as global director of strategic marketing, biologics and tissue repair, where he trained the sales force in product repositioning and implemented a global go-to-market strategy. Prior to his role at Covidien, Mr. Fox held various marketing positions with Tissuescience Inc., Diomed Inc., Abiomed Inc, Smith and Nephew, Endoscopy Division and Baxter International. Mr. Fox received an M.B.A in finance and marketing from Wake Forest University.
“With obesity and type 2 diabetes reaching epidemic proportions around the globe, there is significant opportunity for new and innovative technologies to help patients gain control over their diabetes while also achieving clinically meaningful weight loss,” said Mr. Fox. “EndoBarrier represents an innovative approach in the way these conditions are treated. I am thrilled to join the GI Dynamics team at such an exciting time in the company’s growth and look forward to further expanding our efforts globally as we prepare for the European launch of EndoBarrier.”
Dr. Blohm is a seasoned strategic commercial executive and general manager with more than 20 years of medical device industry experience, combining capital equipment and medical devices in large company and small company environments. Prior to joining GI Dynamics, Dr. Blohm served as partner and general manager of AB Medica, a national medical technology distribution company he established in France. Prior to AB Medica, Dr. Blohm played a key role in leading the successful launches of innovative medical devices and technologies in his previous positions at EndoGastric Solutions, Accuray Europe and Siemens. He received a Ph.D. in physics from the University of Paris.
“GI Dynamics is poised to revolutionize the treatment of obesity and type 2 diabetes with its innovative, non-surgical, non-pharmaceutical EndoBarrier technology,” commented Dr. Blohm. “EndoBarrier represents a significant advance in treating both type 2 diabetes and obesity – conditions which dramatically impact the lives of millions of patients worldwide. The clinical results achieved to date are impressive, and I look forward to introducing this unique and innovative therapeutic approach to clinicians and patients in Europe this fall.”
About the EndoBarrier™ Gastrointestinal Liner
The EndoBarrier is a non-surgical therapy to treat type 2 diabetes and obesity approved for use in Europe and in advanced stages of clinical development in the United States. Clinical trials to date involving more than 300 patients have demonstrated significant weight loss and diabetes improvement with the EndoBarrier Gastrointestinal Liner.
The EndoBarrier Gastrointestinal Liner is placed in the GI tract endoscopically (via the mouth) to create a barrier between food and the wall of the intestine. Physicians believe that preventing food from coming into contact with the intestinal wall may alter the activation of hormonal signals that originate in the intestine, thus mimicking the effects of a Roux-en-Y gastric bypass procedure without surgery. A growing body of preclinical and clinical evidence supports the potential for the EndoBarrier Gastrointestinal Liner to change the treatment landscape for patients who are obese and living with type 2 diabetes, and patients with severe weight problems.
About GI Dynamics
GI Dynamics is focused on developing effective, non-surgical approaches for treating type 2 diabetes and obesity. The company’s patented EndoBarrier™ Technology has the potential to deliver medical interventions for patients combating weight problems and diabetes or diabetes risk factors. Data from clinical trials demonstrate that the EndoBarrier Gastrointestinal Liner, an advanced device in the EndoBarrier portfolio, may provide rapid improvement in glycemic control and significant weight loss by modifying metabolic pathways. GI Dynamics is collaborating with experts in endocrinology, gastroenterology, bariatric surgery and medical weight loss on these efforts.
Based in Lexington, Massachusetts and founded in 2003, GI Dynamics is backed by top-tier investors including Advanced Technology Ventures, Catalyst Health Ventures, Cutlass Capital, Domain Associates, Johnson & Johnson Development Corporation, Medtronic, Inc., and Polaris Venture Partners. For more information, visit GI Dynamics online at www.gidynamics.com.
Contacts: Caton Lovett Pure Communications Inc. 910-232-7166
