BURLINGAME, Calif.–(BUSINESS WIRE)–March 10, 2022–
Magnus Medical, Inc., a medical device company developing novel, fast-acting brain stimulation technology designed to treat adults with neuropsychiatric disorders, today announced the appointment of three executives to key positions within the management team. Erica Lundmark joins as vice president of hardware engineering, Tammy Morton joins as vice president of clinical affairs, and Timothy Hale joins as vice president of marketing.
This press release is multimedia. View the full press release here: https://www.businesswire.com/news/home/20220310005726/en/
Erica Lundmark, Vice President of Hardware Engineering, Magnus Medical (Photo: Business Wire)
These new appointments, combined with $25 million in Series A funding from Magnus and Breakthrough Device designation from the U.S. FDA, continue the company’s momentum toward developing its innovative, accelerated* approach to treating major depression.
“We are thrilled to expand our team by adding three very impressive executives,” said Brett Wingeier, Ph.D., co-founder and CEO of Magnus Medical. “Erica, Tammy and Timothy bring deep industry expertise and highly successful track records in the development, validation and commercialization of breakthrough medical devices.
“All three individuals are industry leaders and will play a critical role at Magnus as we further develop our technology into an integrated treatment system and evaluate clinical data to expand access to individualized and targeted neuromodulation for those who need it most – the millions who suffer from severe, intractable depression,” Dr. Wingeier continued.
Erica Lundmark joins Magnus with over 20 years of engineering experience in the medical device industry, with a focus on hardware, systems, electrical, wireless communications and medical standards compliance for startups and enterprises. medium sized. Most recently, she was the Senior Manager of Electrical Engineering for InCube Labs, where she was involved in the characterization, verification and manufacturing of an active implantable medical device and its associated external products for the treatment of pain. Her previous tenures also include Sacramed, an early-stage InCube company where she was Senior Director of Electrical Engineering, as well as NeuroPace and St. Jude Medical (formerly Ventritex).
Tammy Morton comes to Magnus with over 20 years of experience planning and executing clinical trials to support regulatory submissions for Class II and Class III medical devices in a variety of therapeutic areas in both large companies and startups. Most recently, she was the Clinical Affairs Manager for CapsoVision, Inc., where she implemented study design, operational planning and execution to support regulatory approval of a colon capsule endoscope. Previously, she was Vice President of Clinical Affairs at Halo Neuroscience. Ms. Morton’s previous tenures also include Radial Medical, where she was Vice President of Clinical Affairs, as well as leadership roles at Gynesonics, Abbott Vascular and Bailer Research.
Timothy Hale joins Magnus with over 20 years of experience in the medical device and pharmaceutical industry launching and commercializing disruptive technologies and indications. Prior to joining Magnus, he was Senior Director of Global Marketing for AngioDynamics, where he led the commercial launch of the Auryon Laser Atherectomy System, an innovative treatment for peripheral arterial disease. Prior to AngioDynamics, he was Senior Director of Marketing at Neuronetics for NeuroStar Advanced Therapy, a transcranial magnetic stimulation therapy for major depression. Mr. Hale’s previous tenures also include Spectranetics, The Selva Group, LLC, LungRX, Boehringer Ingelheim Pharmaceutical Inc. and Forest Pharmaceuticals.
About Magnus Medical
Magnus Medical is a private medical device company developing the Magnus Neuromodulation System with SAINT Technology, a new treatment that has demonstrated profound and rapid results in intractable depression in an experimental setting. Recently, the American Journal of Psychiatry published the results of a double-blind randomized controlled trial (RCT) evaluating SAINT which showed that 79% of people in the active treatment group went into remission from their depression, compared to 13% in the sham treatment group. In an earlier pilot trial evaluating SAINT, 19 of 21 people (90%) went into remission. Restoring healthy neural activity for many people was life changing and within five days symptoms (including suicidal thoughts) improved significantly. This new approach is designed to be delivered in an accelerated timeframe and is precisely tailored to each person’s brain connectivity. Magnus is backed by JAZZ Venture Partners and Red Tree Venture Capital. More information is available at https://www.magnusmed.com.
*The Magnus System, currently an investigational device, is expected to require US FDA 510(k) clearance and is not yet commercially available. CAUTION – Experimental device. Restricted by Federal (or United States) law to experimental use.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220310005726/en/
CONTACT: Amy Cook
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: MENTAL HEALTH HEALTH FDA MEDICAL DEVICES HOSPITALS OTHER HEALTH BIOTECHNOLOGY
SOURCE: Magnus Medical, Inc.
Copyright BusinessWire 2022.
PUBLISHED: 03/10/2022 11:00 AM/DISC: 03/10/2022 11:00 AM