JenaValve Technology said Monday that it has named David J. Drachman as CEO. The appointment is effective immediately. Drachman is the former president and CEO of AtriCure. 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.
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 medical device industry veteran David J. Drachman has been named the Company’s new chief executive officer, effective immediately.
Mr. Drachman brings nearly 30 years of leadership in the cardiovascular medical device industry, including the advancement of cardiovascular devices from concept to commercial success in markets around the world. From January 2002 to September 2012, Mr. Drachman served as president, chief executive officer and a member of the board of directors of AtriCure (NASDAQ: ATRC), a leading atrial fibrillation (AF) medical device provider. During his tenure, AtriCure became the first and remains the only company to receive U.S. Food and Drug Administration approval for the surgical treatment of AF, expanded its product portfolio from one to six unique platforms and grew from a startup company to the market leader with sales in more than 30 countries.
“Mr. Drachman is joining JenaValve at a key point in the Company’s evolution,” said chairman of the board Raymond W. Cohen. “David is a recognized leader who is highly competitive and up to the challenge of positioning JenaValve as a significant player in the TAVI space. The board and I look forward to working closely with David to achieve those goals.”
Prior to AtriCure, Mr. Drachman held key executive positions at Biosense Webster, today a Johnson & Johnson company, where he led initial commercialization efforts in the European and U.S. markets. Previously, Mr. Drachman served as acting CEO, Worldwide President & Director of Impulse Dynamics and held leadership positions at Ventritex and Boston Scientific.
Mr. Drachman commented, “JenaValve has developed and commercialized a truly unique TAVI system that has proven advantages for both physicians and patients. The Company now seeks to translate its innovation into a broader product platform, complete clinical study work and gain the CE Mark for our transfemoral pericardial tissue TAVI product, accelerate commercial growth in Europe and aggressively pursue serving new and larger geographies, including the United States and China.”
Former CEO Helmut J. Straubinger said, “The last 8 years have been the most exciting period in my professional life. After having built JenaValve from scratch to a solid, well respected company with excellent products, it is time now for the next big step for the Company. I have no doubt that David has the expertise to enlarge JenaValve’s international presence and lead the Company going forward.”
About the JenaValve TAVI System
The JenaValve™ is a true second-generation catheter-based aortic valve implantation system engineered and manufactured to the highest quality standards. The JenaValve transapical TAVI system is currently being sold in Europe and other markets around the world for Aortic Stenosis and Aortic Insufficiency. To date, the JenaValve system is the only TAVI product that has a CE Mark to treat patients with Aortic Insufficiency. The Company’s transfemoral TAVI system entered into a first-in-man clinical study at the end of 2013 and is anticipated to be commercially available for sale in 2015.
JenaValve’s unique “3-feeler element” allows the clinician to accurately position the prosthesis in the anatomically correct position during implantation thus ensuring to achieve the correct implantation height and commissural alignment within the patient’s native valve.
JenaClip™ anchoring and clamping mechanism allows the prosthesis to be clamped onto the patient’s native valve leaflets enabling the JenaValve to be firmly anchored in the correct anatomical position and provide active fixation and resistance to migration.
The JenaValve implantation is conducted on the beating heart. Hemodynamic flow is maintained without cardiac arrest and rapid pacing is not required during the procedure. The low profile and the open cell design of the stent prosthesis ensure open flow to the coronaries after the implantation. The JenaValve is available in three sizes covering aortic valve annuli from 21mm to 27mm.
JenaValve is retrievable and repositionable thereby contributing to a successful procedure and confidence of the clinician.
JenaValve Technology, Inc., based in Munich, Germany and Irvine, California, 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.
Additional information is available at www.jenavalve.com.