ISELIN, N.J., May 2 /PRNewswire-FirstCall/ -- SyntheMed, Inc. , a biomaterials company engaged in the development and commercialization of anti-adhesion and drug delivery products, today announced the appointment of Marc R. Sportsman to the newly-created executive officer position of Vice President of Sales. Mr. Sportsman brings to the Company over twenty years of sales experience in the cardiac device industry. He most recently served as Vice President of Sales at ATS Medical, Inc. and held previous sales positions of increasing responsibility with St. Jude Medical, Inc. and Shiley, Inc. Mr. Sportsman’s responsibilities will include the recruitment of a field sales organization and development of sales strategy, programs and procedures in support of the planned US launch of REPEL-CV(R) Adhesion Barrier, the Company’s novel anti-adhesion product designed for use in cardiothoracic surgical procedures. On March 28, 2007, the Company announced that the US Food and Drug Administration (FDA) accepted for review the Company’s Pre-market Approval (PMA) application for REPEL-CV.
Robert P. Hickey, SyntheMed’s President & CEO stated, “We are extremely fortunate to have attracted a sales executive of Marc’s caliber to this critically important position. The Company will immediately benefit from Marc’s extensive experience in cardiac device sales and his broad network of relationships with cardiac surgeons, clinical support staff and hospital administration. Our first opportunity to leverage Marc’s background will be at next week’s American Association of Thoracic Surgery convention in Washington, DC at which SyntheMed will be featuring REPEL-CV.”
About Adhesions
Adhesions, or scar tissue, occur after virtually all open-heart surgical procedures, often resulting in the heart becoming attached to the sternum and other surround tissue surfaces. The presence of adhesions represents a prevalent and serious complication in secondary surgical procedures, increasing the length, cost and risk of the surgical procedure. There are an estimated 500,000 open heart surgeries performed annually in the United States, and another 350,000 estimated in the European Union. In both markets, approximately 15-20 percent of these surgeries are secondary procedures.
About REPEL-CV
REPEL-CV is a bioresorbable adhesion barrier film designed to be placed over the surface of the heart at the conclusion of the open-heart surgical procedure to reduce the extent and severity of adhesions that form between the surface of the heart and the inner surface of the sternum following the surgical procedure. REPEL-CV is designed to provide the therapeutic benefit and then degrade so that it is cleared from the surgical site. REPEL-CV is marketed internationally and may be launched in the US, pending FDA approval, during the second half of 2007.
About SyntheMed, Inc.
SyntheMed, Inc. is a biomaterials company engaged in the development and commercialization of anti-adhesion and drug delivery products. The Company is primarily focused on the advancement and expansion of product development programs based on its proprietary bioresorbable polymer technology.
Statements in this Press Release that are not statements of historical fact, including statements regarding indications of the timing or ability to achieve regulatory approval and market launch for REPEL-CV or the potential market size for REPEL-CV, constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Such risks and uncertainties include but are not limited to (i) potential adverse developments regarding the Company’s efforts to obtain and maintain required FDA and other regulatory approvals; (ii) potential inability to secure funding as and when needed to support the Company’s future activities and (iii) unanticipated delays associated with manufacturing and marketing activities. Reference is made to the Company’s Annual Report on Form 10-KSB for the year ended December 31, 2006 for a description of these, as well as other, risks and uncertainties.
SyntheMed, Inc.
CONTACT: Tara Spiess of TS Communications Group, LLC, +1-914-921-5900, orSpiess@biotechirpr.com, for SyntheMed, Inc.
