NeuroOne Appoints Chad Wilhelmy, as Vice President of Quality Control and Regulatory Affairs

Rhea-AI Summary

NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) has appointed Chad Wilhelmy as Vice President of Quality Control and Regulatory Affairs. With 20 years of experience in the medical device industry, Wilhelmy aims to enhance the company's quality systems and regulatory foundations. As part of his employment, he received an option to purchase 50,000 shares at an exercise price of $1.95 per share. CEO Dave Rosa expressed confidence in Wilhelmy's experience to support the company's growth, focusing on improving surgical care for neurological disorders.

Positive

• Appointment of Chad Wilhelmy strengthens executive leadership.
• Wilhelmy brings 20 years of medical device experience.
• His expertise is expected to enhance quality and regulatory strategies.

Negative

• Concerns around continuity and potential experience gaps due to management change.

EDEN PRAIRIE, Minn., Jan. 18, 2022 /PRNewswire/ -- NeuroOne Medical Technologies Corporation (NASDAQ: NMTC) ("NeuroOne" or the "Company"), a medical technology company focused on improving surgical care options and outcomes for patients suffering from neurological disorders today announces the appointment of Chad Wilhelmy, as Vice President of Quality Control and Regulatory Affairs. Mr. Wilhelmy joins NeuroOne from HLT Medical, a subsidiary of the Bracco Group, where he was the Vice President Quality Assurance.

Dave Rosa, CEO of NeuroOne Medical Technologies Corporation says, "Chad's appointment further strengthens our executive leadership team and deepens our capabilities as we build the platform for future growth and expansion. We believe his vast experience in the medical device space will help us build the essential regulatory and quality foundation needed to realize our company's ambitious goals."

Chad Wilhelmy, newly appointed Vice President of Quality Control and Regulatory Affairs, commented, "I'm excited to join such a talented and innovative team. The applications and market opportunities for NeuroOne's electrode technology are tremendous." 

Chad Wilhelmy joins NeuroOne with 20 years of medical device experience developing, implementing, and leading quality management systems.  Prior to joining NeuroOne, he held top leadership roles at HLT Medical as the Vice President of Quality and at Sunshine Heart as the Senior Director of Quality. He has driven quality strategies from early-stage development to commercial distribution with both the FDA and Notified Body. Chad earned a Bachelor of Science degree from the University of Wisconsin - Stout in Engineering Technology with an emphasis in Quality.

As a material inducement to entering into employment with NeuroOne, Mr. Wilhelmy, who was not previously an employee or director of NeuroOne, received an option to purchase 50,000 shares of the Company's common stock under the NeuroOne Medical Technologies Corporation 2021 Inducement Plan (the "Inducement Plan"). The equity award under the Inducement Plan was approved by the Company's Compensation Committee, which is composed entirely of independent directors, in accordance with Nasdaq Listing Rule 5635(c)(4), which also requires a public announcement of equity awards that are not made under a stockholder approved equity plan.

The option award has an exercise price of $1.95 per share, the closing price of NeuroOne's common stock on January 14, 2022, the date of the grant. The option has a ten-year term and vests as to 25% on January 1, 2023, with the remaining shares vesting in equal monthly installments on the last day of each month over the next thirty-six (36) months, provided Mr. Wilhelmy's employment is continuing on each such date.

About NeuroOne

NeuroOne Medical Technologies Corporation is a developmental stage company committed to providing minimally invasive and hi-definition solutions for EEG recording, brain stimulation and ablation solutions for patients suffering from epilepsy, Parkinson's disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other related neurological disorders that may improve patient outcomes and reduce procedural costs. For more information, visit https://www.n1mtc.com .

Forward Looking Statements

This press release may include forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Except for statements of historical fact, any information contained in this presentation may be a forward–looking statement that reflects the Company's current views about future events and are subject to known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. In some cases, you can identify forward–looking statements by the words or phrases "may," "might," "will," "could," "would," "should," "expect," "intend," "plan," "objective," "anticipate," "believe," "estimate," "predict," "project," "potential," "target," "seek," "contemplate," "continue, "focused on," "committed to" and "ongoing," or the negative of these terms, or other comparable terminology intended to identify statements about the future. Although the Company believes that we have a reasonable basis for each forward-looking statement, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Our actual future results may be materially different from what we expect due to factors largely outside our control, including risks and uncertainties related to market and other conditions, the impact of general economic, industry or political conditions in the United States or internationally and those described under the heading "Risk Factors" in our filings with the Securities and Exchange Commission. These forward–looking statements speak only as of the date of this press release and the Company undertakes no obligation to revise or update any forward–looking statements for any reason, even if new information becomes available in the future.

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SOURCE NeuroOne Medical Technologies Corporation

FAQ

Who is Chad Wilhelmy, and what is his role at NeuroOne?

Chad Wilhelmy is the newly appointed Vice President of Quality Control and Regulatory Affairs at NeuroOne, bringing 20 years of experience in the medical device sector.

What expertise does Chad Wilhelmy bring to NeuroOne?

Wilhelmy has extensive experience in developing and implementing quality management systems and has previously held leadership positions in quality assurance.

What is the significance of Chad Wilhelmy's appointment for NMTC?

His appointment is seen as a strategic move to strengthen the company's regulatory and quality foundation, which is crucial for its growth in the medical technology market.

What are the stock options Chad Wilhelmy received upon joining NeuroOne?

Chad Wilhelmy received an option to purchase 50,000 shares at an exercise price of $1.95 per share, which vests over four years.