ATLANTA, Jan. 4 /PRNewswire/ -- SaluMedica, LLC, a pioneer in minimally invasive, off-the-shelf cartilage restoration products, recently announced the addition of Lew Bennett and Larry W. Papasan to its Board of Managers.
SaluMedica recently out-licensed its patented Salubria(R) biomaterial for use in a spine disc, allowing it to focus on expanded commercialization of its cartilage resurfacing products for the knee, toe and shoulder. SaluMedica views this period of growth and repositioning as an opportune time to build its Board.
Mr. Papasan joins the Board after an 11-year tenure as President of Smith & Nephew Orthopedics, followed by service as Director for the same. Under his leadership, Smith & Nephew grew to be the fourth largest orthopedics company in the world with annual revenues of over $1 billion. Prior to Smith & Nephew Mr. Papasan was President of Memphis Power & Light. He is currently involved with numerous organizations including the University of Memphis Board of Visitors (Chairman), BioMimetic Therapeutics (Chairman) and the Memphis Biotech Foundation.
During his 45 years in the medical industry, Mr. Bennett has held senior executive positions with top orthopedic companies including NuVasive, Sofamor Danek (now a division of Medtronic) and Smith & Nephew. Additionally he was an original founder of Howmedica (now part of Stryker, the second largest orthopedics company worldwide). Mr. Bennett is currently CEO of SpineMedica, developing Salubria(R) for the spine. He actively supports the medical community as a board member and consultant to several organizations, orthopedic and neurological practices, and universities.
Commenting on the Board additions, David Ku, M.D., Ph.D., SaluMedica’s President and CEO, said, “We enthusiastically welcome Larry and Lew to the Board. Each brings unique talent, relevant experience and astute counsel that are vital as SaluMedica continues to bring innovative products to the marketplace.”
Katharine Ku, Director of the Office of Technology Licensing at Stanford University, whose leadership was integral in the Company’s early development, has stepped down from the Board. The appointments of Mr. Bennett and Mr. Papasan will take place immediately.
About SaluMedica, http://www.salumedica.com
A biotech company, SaluMedica develops essential medical devices based on its proprietary biomaterial, Salubria(R). SaluMedica’s team of engineers, physicians and industry specialists is dedicated to applying Salubria(R) biomaterial to fill the long-standing need for new medical products replacing damaged soft tissue.
This press release may contain forward-looking statements that involve risks and uncertainties. Actual results may differ materially from those discussed in this release, due to, among other things, the research, development, and market risks which could adversely affect the company’s timeline for clinical trials, regulatory approval and if such approval is received, time to market thereafter.
SaluMedica, LLC
CONTACT: Kate Shropshire, Manager, Marketing & Client Relations ofSaluMedica, LLC, +1-404-589-1727, or email kate.shropshire@salumedica.com
Web site: http://www.salumedica.com//
