VC-backed JenaValve Technology names CTO

JenaValve Technology has hired Dr. Stefan Schreck as chief technology officer. The apointment is effective immediately. Schreck is the former vice president of technology and later chief technology officer at Endologix. Based in Munich, Germany and Irvine, Calif., JenaValve Technology is a provider of transcatheter aortic valve implantation systems that treat aortic valve disease. Its backers include Atlas Venture, Edmond de Rothschild Investment Partners, GIMV, NeoMed Management, Legend Capital, VI Partners, Sunstone Capital, Omega Funds, Biovest and Valiance Advisors.

PRESS RELEASE

IRVINE, Calif. & MUNICH–(BUSINESS WIRE)–JenaValve Technology, Inc., a privately-held, venture-backed developer, manufacturer and marketer of transcatheter aortic valve implantation (TAVI) systems for the treatment of aortic valve disease, today announced that cardiovascular medical device industry veteran Stefan Schreck, Ph.D. has been named the Company’s new chief technology officer, effective immediately.

“Dr. Schreck is joining JenaValve at a time of great change and opportunity. Stefan’s extensive domain experience and track record of innovations in the design of heart valves and related delivery systems makes him uniquely qualified to advance our pipeline and help position JenaValve as an important global TAVI player”

Dr. Schreck is a prolific inventor with more than 80 US patents and patent applications and brings to JenaValve more than 30 years of technology innovation and engineering leadership.

“Dr. Schreck is joining JenaValve at a time of great change and opportunity. Stefan’s extensive domain experience and track record of innovations in the design of heart valves and related delivery systems makes him uniquely qualified to advance our pipeline and help position JenaValve as an important global TAVI player,” said chief executive officer David J. Drachman. “We continue to expand our worldwide commercial footprint for our transapical TAVI system and are also investing significant resources in the development of our innovative transfemoral (TF) platform which we plan to launch in Europe during 2015. Our devices are the only TAVI products with CE Mark for both aortic stenosis and aortic insufficiency patients. Notably, our new steerable TF product has recently received FDA Fast Track designation.”

Dr. Schreck was responsible for the development of surgical heart valve repair and replacement products including annuloplasty rings, and aortic and mitral bioprosthesis at Edwards Lifesciences (NYSE: EW) before and after the spin-off from Baxter Healthcare. He also invented the first catheter based valve concepts for Edwards. From 2004 to 2013, Dr. Schreck served as vice president of technology and later chief technology officer at Irvine-based Endologix, Inc. (Nasdaq: ELGX). Under his technical leadership, Endologix rapidly expanded its base business product portfolio and commercialized a new innovative sealing technology to advance the transcutaneous repair of aortic aneurysms.

Dr. Schreck said, “The novel JenaValve technology platform represents immense clinical value as its unique design elements address key technical challenges facing physicians. My goal is to help deliver a pipeline of innovative bioprosthesis systems in a more rapid fashion. I am impressed with Mr. Drachman’s vision for JenaValve and commitment to aggressively compete with the larger players in the space.”

Dr. Schreck holds a Ph.D. in mechanical engineering and a M.S. in aerospace engineering. Prior to joining the medical device industry, he conducted biomedical research at the Georgia Institute of Technology and the University of Southern California.

About JenaValve
JenaValve Technology, Inc., based in Irvine, California and Munich, Germany develops, manufactures and markets transcatheter aortic valve implantation (TAVI) systems to treat patients suffering from aortic valve disease. The Company’s transapical TAVI system is CE marked and currently marketed in Europe and other markets worldwide and its new transfemoral TAVI system is currently undergoing clinical evaluation in Europe with a view toward achieving CE Mark in 2015. JenaValve is backed by world-class U.S., European and Asian investors, including Atlas Venture, Edmond de Rothschild Investment Partners, GIMV, NeoMed Management, Legend Capital, VI Partners, Sunstone Capital, Omega Funds, Biovest and Valiance Advisors.

 

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