VC-backed IlluminOss Medical names new VP of finance

IlluminOss Medical said Thursday that it has hired Martin Aschenbrener as vice president of finance. Headquartered in East Providence, R.I., IlluminOss is a medical device company focused on developing orthopedic implants. It is backed by Foundation Medical Partners, New Leaf Venture Partners, Tekla Capital, Life Sciences Partners, SR One, Longwood Fund, Excel Venture Management, Pappas Ventures, Mieza Capital and Slater Technology.

PRESS RELEASE

EAST PROVIDENCE, R.I.–(BUSINESS WIRE)–IlluminOss Medical, a privately held, commercial stage medical device company pioneering the development of minimally invasive, customized orthopedic implants for the stabilization and treatment of bone fractures, today announced the appointment of Martin Aschenbrener as vice president of finance. Mr. Aschenbrener brings to IlluminOss more than two decades of operational leadership that will be important during the European commercialization of the company’s proprietary Photodynamic Bone Stabilization System (PBSS).
The minimally invasive PBSS System enables clinicians to repair bone fractures using a light-curable polymer contained within an expandable balloon catheter, to achieve bone stabilization. The revolutionary procedure is made through a small percutaneous surgical approach providing patients and clinicians with a fast, customized, method of orthopedic bone stabilization.
“Martin brings strong operational leadership in financial and information systems management during crucial growth phases to IlluminOss,” said Dirk Kuyper, president and CEO of IlluminOss. “With an impressive list of accomplishments in all aspects of financial forecasting, resource allocation, fund management, accounting and controls, Martin’s leadership experience in these critical areas will serve IlluminOss well as we build our international commercial operations and continue to develop and secure approval in the US.”
Mr. Aschenbrener has held key leadership positions and consulting positions in companies of all sizes from start-up medical device companies, companies preparing for an initial public offering to consulting with Fortune 500 companies. Mr. Aschenbrener holds a BA in international finance and a BS in accounting.
“With this revolutionary fracture repair technology, IlluminOss is well positioned to achieve excellent growth in the coming months and years in the global orthopedic trauma market, which has not seen this level of innovation in quite some time,” said Aschenbrener. “I look forward to playing a role in bringing this revolutionary technology to the clinicians and patients who need it most.”
About IlluminOss Medical
IlluminOss Medical is a privately-held, commercial stage medical device company focused on designing, developing and marketing orthopedic fracture repair products that leverage its proprietary bone stabilization technology, Photodynamic Bone Stabilization System (PBSS). This minimally invasive technology allows for fracture fixation through patient specific intramedullary implants. The PBSS System utilizes a light-curable polymer, contained within an expandable balloon catheter, to achieve bone stabilization. The revolutionary procedure is made through a small percutaneous surgical approach providing patients and clinicians with a fast, patient-customized, method of orthopedic bone stabilization. The company currently markets its products in international countries under a CE Mark for approved clinical applications through both a direct sales force and distribution networks. Founded in 2007, IlluminOss is headquartered in East Providence, RI, and funded by Foundation Medical Partners, New Leaf Venture Partners, Tekla Capital, Life Sciences Partners, SR One, Longwood Fund, Excel Venture Management, Pappas Ventures, Mieza Capital and Slater Technology. Learn more at www.illuminoss.com.