Neuros Medical, Inc. Names David Veino as President and CEO and Expands Board of Directors

Rhea-AI Summary

Neuros Medical appoints David Veino as President and CEO, succeeding Thomas Wilder who joins the Board as an Independent Director. Veino will lead the transition of Neuros from an early-stage company to its commercial execution stage. Randy Ban also joins the Board as an Independent Director. Neuros aims to provide a solution for relieving pain and restoring life for amputees suffering from post-amputation pain.

Positive

• David Veino appointed as President and CEO, bringing 25 years of senior management experience.
• Successful completion of pivotal clinical trial and submission of PMA to FDA.
• Anticipated PMA approval from FDA.
• Appointment of Randy Ban as Independent Director.
• Neuros aims to provide relief for amputees suffering from post-amputation pain.

Negative

• None.

ALISO VIEJO, Calif., Oct. 23, 2023 /PRNewswire/ -- Neuros Medical, Inc., a medical device company behind an innovative, on-demand bioelectric nerve block therapy for patients with intractable post-amputation pain, today announced that David Veino has been appointed President and Chief Executive Officer. In this planned transition, Veino will join the Board of Directors. He succeeds Thomas Wilder, who is joining the Board as an Independent Director. 

David Veino has been appointed President and Chief Executive Officer of Neuros Medical

Veino has served as the company's Chief Operating Officer since 2018, during which time he successfully guided the company through completion of the pivotal clinical trial that evaluated Neuros' Altius High Frequency Nerve Block System. Upon anticipated PMA approval from the FDA, Veino will lead the transition of Neuros from an early-stage company to its commercial execution stage, and beyond. Mr. Veino is a seasoned commercial leader with 25 years of senior management experience. Prior to Neuros, he held various roles of increasing responsibility at Stryker, Globus Medical and Cardiovascular Systems, Inc., (acquired by Abbott).

"The Neuros team has made tremendous progress over the last few years, culminating in a successful completion of our pivotal clinical trial and recent submission of the PMA to the FDA," says David Veino, president and CEO. "We are one significant step closer to providing a solution of relieving pain and restoring life for a large, underserved population of amputees who suffer from debilitating post-amputation pain."

"On behalf of the entire Neuros Board, I would like to thank Tom for his leadership and commitment to the company over the past 6 years as President and CEO," said Casey Tansey, Neuros Director and General Partner at U.S. Venture Partners (USVP). "Tom guided the company through its formative years and has built a strong strategy and foundation for the company's future. We are pleased that he will continue to serve as an Independent Director and look forward to his continued leadership on the Board."

In addition, the company announces the appointment of Randy Ban as an Independent Director to its Board. Ban currently serves as Chief Commercial Officer of Inspire Medical Systems (NYSE: INSP), a medical technology company focused on the development and commercialization of innovative, minimally invasive solutions for patients with obstructive sleep apnea.

"I am honored to join the Neuros Board of Directors. The Neuros Altius system has great potential to help improve the quality of life for people struggling with post-amputation phantom and residual limb pain," said Randy Ban.

In his role at Inspire, Ban was instrumental in progressing the organization from a clinical to commercial stage enterprise, successfully building and scaling a high performing field and account support organization focused on patient centric outcomes.

"The Neuros team is thrilled to have Randy join our Board," says Veino. "His experience and insights will be invaluable after the anticipated PMA approval, as we prepare to transition to a commercial stage company with a continued focus on delivering strong and consistent patient outcomes."

Ban joins a highly engaged, talented Board of Directors with a mission of delivering Neuros' innovative technology to physicians and their patients who are seeking relief from chronic post-amputation pain.

About Neuros Medical, Inc.

Neuros Medical, a private neuromodulation company, developed the Altius system for the treatment of chronic post-amputation pain, including phantom and residual limb pain. The Altius system uses Neuros' patented On-Demand Bioelectric Nerve Block Technology to inhibit pain signal transmission from the damaged nerves near the site of amputation. The system consists of a nerve cuff electrode placed around an affected nerve and an implantable pulse generator (IPG). Patients initiate a 30-minute Altius treatment session as needed for targeted pain relief.

There are nearly two million amputees in the U.S., with 185,000 new amputations occurring every year. Post-amputation pain includes both phantom limb pain and residual limb pain, and impacts nearly one million Americans, representing a significant unmet medical need, as existing treatment options are limited and consist primarily of opioids and gabapentinoids.

Caution – Investigational Device. Limited by Federal (or United States) law to investigational use.

For additional information regarding Neuros Medical, please contact:

Paul Unglaub, Sr. Director Marketing & Communications
punglaub@neurosmedical.com
www.neurosmedical.com
(440) 951-2565

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SOURCE Neuros Medical

FAQ

Who is the new President and CEO of Neuros Medical?

David Veino.

Who is joining the Board as an Independent Director?

Thomas Wilder.

Who is the new Independent Director of Neuros Medical?

Randy Ban.

What is Neuros Medical's goal?

To provide a solution for relieving pain and restoring life for amputees suffering from post-amputation pain.

What is Randy Ban's role at Inspire Medical Systems?

Chief Commercial Officer.