AFFLUENT MEDICAL
Affluent Medical PRESS RELEASE
Affluent Medical announces the appointment of Michel Therin as Chairman of the Board of Directors
Aix-en-Provence, December 7, 2022 – Affluent Medical (ISIN code: FR0013333077 - ticker: AFME), a French MedTech specializing in the international development and industrialization of innovative medical devices, at a clinical stage, to treat urinary incontinence and cardiac mitral valve pathologies, announced today the appointment, as of January 1, 2023, of Michel Therin as Chairman of the Board of Directors, replacing Michel Finance.
Michel Therin, DVM and PhD, has extensive experience in the definition and implementation of international Medtech deployment strategies. Formerly President of the Advanced Therapies Division of Siemens Healthineers, he defined and led the development strategy of the interventional imaging business, focusing on oncology, neurology, and cardiovascular care, and was actively involved in the acquisition of Corindus and Varian for a total of nearly €18 billion. He also spent twelve years at Medtronic as Global Vice President & General Manager, in charge of the development and commercialization of innovative surgical devices. At Floreane Medical Implants, as Vice President of Research and Development and General Manager for 9 years, Michel Therin invented, developed and launched numerous breakthrough innovations in the field of abdominal and pelvic reconstruction that quickly gained international recognition, leading to the acquisition of the company by Tyco Healthcare. Michel Therin holds a double doctorate in veterinary medicine (Ecole Nationale Vétérinaire de Maison Alfort) and in biomedical engineering (Paris XIII). He is the author of more than 20 publications in international peer-reviewed medical journals and has been a speaker at more than 100 international medical conferences. Michel Therin will be responsible for implementing the commercialization strategy for Affluent Medical's devices, which address two unmet medical needs, cardiac mitral insufficiency and urinary incontinence in adults. Mitral insufficiency is a serious and fatal heart disease that affects nearly 2% of the global population, with an incidence that increases as patients age. According to Affluent Medical estimates, fewer than 4% of the 4 million patients with severe mitral insufficiency benefit from surgery. Without surgery, the risks of death and hospitalization are high, with mortality of up to 50% after five years and hospitalization for 90% of patients still alive. The global mitral insufficiency market is estimated at $4.7 billion in 2027, which corresponds to average annual growth of more than 14%. Affluent Medical is currently developing two medical devices to address the treatment of mitral insufficiency: Kalios and Epygon. Kalios is the only prosthesis for mitral heart valve repair, which allows multiple postoperative readjustments via the transcatheter route without general anesthesia. The recently published intermediate clinical results of the pivotal study are very encouraging. Epygonis the only physiological cardiac bioprosthesis that mimics the native mitral valve and blood flows, implanted by transcatheter, without “open heart” surgery. Patient screening is underway in several European countries for the first clinical trial in patients. Moderate to severe urinary incontinence is another major public health problem with more than 100 million adults worldwide currently affected by this pathology, which has no effective treatment and has a massive impact on patients' quality of life and psychological state. In total, the market for medical devices to treat urinary incontinence is expected to reach $4.3 billion in 2027, with an average annual growth rate of 11% between 2019 and 2027. Artus is the first artificial sphincter that can be activated by the patient via remote control to treat moderate to severe urinary incontinence in men and women. The pivotal clinical trial is planned for 2023.
On August 22, 2022, Affluent Medical announced the appointment of Sébastien Ladet as Chief Executive Officer. Sébastien Ladet, Ph.D. began his career in the R&D department of Medtronic in France (formerly Covidien), where he held several positions of responsibility in the development of innovative technologies applied to new implantable medical devices with a view to their commercialization. He was then appointed to manage international projects and lead cross-functional research programs in the context of the global marketing of several medical devices that now generate several tens of millions of US dollars per year.
In 2016, he became Director of Strategy and Portfolio Management for Medtronic's US Hernia and Hemostasis business. As a member of the Executive Committee, he was also responsible for the strategy and investment of a portfolio of projects deployed at sites in the United States, the European Union and China. In 2020, he was promoted to Senior R&D Director - Technology Strategy and Innovation of the Surgical Innovation Business Unit (US$6 billion in revenues) - member of the R&D management team where he led the technology strategy team and managed its international implementation. Sébastien Ladet holds a PhD in Materials and Polymers from Claude Bernard University in Lyon, France.
Michel Therin, appointed Chairman of the Board of Directors of Affluent Medical, states:« I am very pleased to join Affluent Medical at such a critical stage in the development of its innovative devices and I thank the company's Board of Directors for their confidence and support. Affluent Medical is developing breakthrough innovations that aim to improve the quality of life and life expectancy of millions of patients worldwide. With all the teams and the Board of Directors, I will be committed to deploying the commercialization strategy of these devices, to make Affluent Medical a world leader in MedTech. »
Dr. Philippe Pouletty, member of the Board of Directors and founder of Affluent Medical, state: « The Board of Directors of Affluent Medical reiterates its thanks to Michel Finance for his commitment over the past three years to the company and its employees and for the progress made in the development of three innovative devices for millions of patients worldwide. The experienced team of Michel Therin and Sébastien Ladet will be able to further accelerate these developments and market access.. »
About Affluent Medical Affluent Medical is a French player in MedTech, founded by Truffle Capital, with the ambition of becoming a global leader in the treatment of heart and vascular diseases, which are the world's leading cause of mortality, and urinary incontinence which currently affects one in four adults. Affluent Medical develops next-generation, mini-invasive, innovative implants to restore critical physiological functions in these areas. The four major technologies developed by the company are currently in preclinical and clinical studies. KaliosTM is set to be the first medical device to be marketed in Europe. For more information: www.affluentmedical.com
Contacts :
Regulatory filing PDF file File: 20221207_PR_Affluent_Medical_Nomination_Michel Therin |
| Language: | English |
| Company: | Affluent Medical |
| 320 avenue Archimède, Les pléiades III Bâtiment B | |
| 13100 Aix en Provence France | |
| France | |
| Phone: | +33 4 42 95 12 20 |
| E-mail: | jerome.geoffroy@affluentmedical.com |
| Internet: | https://www.affluentmedical.com/ |
| ISIN: | FR0013333077 |
| Euronext Ticker: | AFME |
| AMF Category: | Inside information / Other releases |
| EQS News ID: | 1506629 |
| End of Announcement | EQS News Service |
1506629 07-Dec-2022 CET/CEST
