Daniel J. Moore, President and CEO of Cyberonics, Joins Board of Directors
Veteran Medical Device Executive Bill Koppes Appointed as Vice President, Commercial Product Development and Manufacturing
BETHESDA, MD. January 9th, 2012 – BrainScope® Company, Inc. today announced the addition of Daniel J. Moore, President and CEO of Cyberonics (NASDAQ: CYBX) as a member of its Board of Directors, and Bill Koppes, Vice President, Commercial Product Development and Manufacturing, to its management team.
Dan Moore has been in the medical device industry for nearly thirty years. As President and CEO of Cyberonics since 2007, he has led the company in achievement of meaningful revenue growth and return to quarterly profitability during the first 12 months of his tenure after multiple years of losses. Prior to Cyberonics, Dan held several senior management positions at Boston Scientific, including President of two divisions.
"Dan has a long and successful track record of growing revenues and profitability, building effective global teams and introducing new products for market leadership. This is exactly the kind of experience that we need at BrainScope as we work towards commercialization of our products. He also brings a uniquely valuable perspective as the CEO of a publicly-traded neurologically focused medical device company. We are very fortunate to have Dan join our Board of Directors," stated Michael Singer, President and CEO of BrainScope.
"I am very pleased to be joining BrainScope's Board of Directors. It is exciting to join an organization so focused on its mission to improve the lives of people who have been affected by head injury, including the nationally recognized problem of concussion affecting our warfighters and athletes," commented Moore.
Bill Koppes recently joined BrainScope as Vice President, Commercial Product Development and Manufacturing. Bill has led medical device commercial product development organizations ranging from start-ups to large international teams and has worked across a range of product categories including diagnostic imaging, patient monitoring, electronic medical records and in- vitro diagnostics. He has a proven record of success in leading product development and support organizations and has contributed to the launch of many innovative new products for the healthcare industry. Most recently Bill was Vice President of Global Research and Development for Siemens Healthcare Diagnostics where he led the integration of three separate R&D organizations following Siemens' acquisition of Dade Behring, Bayer Diagnostics, and Diagnostic Products Corporation in 2006-2007.
"We are delighted to have such a talented and experienced medical device professional join our executive team. I am confident that Bill will be highly successful in leading BrainScope's product commercialization efforts," commented Singer.
"I am very excited by the opportunity to contribute to BrainScope's product development and manufacturing programs. The technology that has already been developed and the clinical work that has been accomplished provide a great foundation for the commercialization of innovative new products that address extremely important clinical needs," said Koppes.
In December 2011, BrainScope was awarded an 18-month, $7.5 million United States Department of Defense contract for clinical validation of BrainScope's Ahead® technology for assessment of head injury in Emergency Departments. In addition, in 2011 BrainScope reached concurrence with the U.S. Food and Drug Administration (FDA) on the key study design elements for clinical validation of the Ahead® M-100 medical device.
BrainScope's Ahead® M-100 is being developed to address the unmet need for a medical device to aid in triage of patients who are suspected of traumatic brain injury (TBI). It is expected to provide objective and timely adjunctive assessment of structural brain injury and functional impairment from TBI, including its milder forms known as concussions.
The Ahead® M-100 is a handheld, non-invasive, non-radiation emitting medical device in development that could provide a rapid and objective assessment and categorization of brain injury, based on patterns identified in brain electrical activity. The Ahead® M-100 is intended to be utilized as an adjunct to standard clinical practice to aid in the rapid and effective assessment of military service members suspected of TBI at the point of care. Early identification and categorization of even the mildest forms of brain injury are the first steps in providing proper care to ensure optimal recovery.
Backed by Revolution LLC (created by AOL co-founder Steve Case), Brain Trust Accelerator Fund, Maryland Venture Fund, Alafi Capital, Draper Fisher Jurvetson, Portage Ventures, and ZG Ventures, BrainScope is a medical neurotechnology company that is developing a new generation of hand-held, simple-to-use, non-invasive instruments designed to aid medical professionals in rapidly and objectively assessing brain function. BrainScope devices in development are based on a proprietary technology platform, which integrates databases of brainwave recordings with advanced developments in digital signal processing, sophisticated algorithms, miniaturized hardware and disposable headset sensors. BrainScope's initial focus is on traumatic brain injury (TBI) and its milder forms known as concussion. BrainScope's unique device is being developed to meet a long-standing clinical need for improved early identification, staging and triage for head-injured patients. BrainScope devices under development for use in the United States for assessment of traumatically-induced head injury and concussions are for investigational use only and have not been submitted to FDA for premarket review. For more information, please visit www.brainscope.com.