Tandem Diabetes Care (NSDQ:TNDM) announced today that its EVP and chief financial exec, John Cajigas, will retire at the end of 2017. The company’s SVP of finance, Leigh Vosseller, is slated to take his place effective Jan. 1.
Tandem noted that Cajigas’ retirement is not due to any disagreement or problem with the company’s accounting or financial reporting.
“I want to thank John for his many contributions to Tandem over the past 10 years and wish him the best of luck in his future endeavors,” president & CEO Kim Blickenstaff said in prepared remarks. “Leigh brings a passion for leading teams, delivering results, and providing financial stewardship and discipline that makes her ideally suited for this expanded role. With our positive sales momentum in the fourth quarter, and our anticipation of key business inflection points in 2018, we expect Leigh will play a pivotal role as we drive toward sustained profitable growth.”
Vosseller has worked at Tandem since 2013 when she joined as VP of finance. Previously, she worked as VP and CFO at Novartis’ Genoptix.
In an attempt to stabilize its financial situation and keep its common stock on the Nasdaq exchange, Tandem shareholders approved a 1-for-10 reverse split in October. The company also raised $16 million in a public offering that same month.
BioFilm names new chief exec after founder retires
After BioFilm founder & CEO Trevor Morgan retires, Touch Bionics chief executive Ian Stevens will take over the corner office, the company announced earlier this week.
Morgan launched BioFilm in 2003, helping to lead the company through a management buyout in 2007. Stevens previously worked as CEO of surgical medical device company Mpathy Medical.
The Scotland-based company develops and manufactures thin dissolvable films used to release active ingredients in pharmaceuticals, medical devices and cosmetics.
“We are delighted to welcome Ian to BioFilm at this exciting stage in its development and look forward to him helping the company continue the growth achieved to date by Trevor Morgan and his management team,” chairman BioFilm said in prepared remarks.
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Bellerophon expands board of directors
Bellerophon Therapeutics (NSDQ:BLPH) today appointed Ted Wang, chief investment officer of Puissance Capital Management, to its board of directors.
Puissance was the lead investor in Bellerophon’s recent $23.4 million private placement. Prior to starting Puissance, Wang was a partner at Goldman Sachs for 18 years.
“We are very pleased to welcome Ted to our Board,” chairman Jonathan Peacock said in prepared remarks. “He shares our excitement for the potential of the INOpulse platform and has already built a great relationship with the Company. We know that Ted will bring great value in working with the Board to help guide the future development of Bellerophon.”
“I am pleased to be joining Bellerophon’s Board at such an exciting time in the Company’s development,” Wang added. “With a strong balance sheet and rapidly developing programs in PAH, and pulmonary hypertension associated with interstitial lung disease and COPD, Bellerophon is well-positioned for future success. I look forward to working with the Board and supporting the Company’s continued development.”
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Pediapharm mourns loss of director
Pediapharm (TSX:PDP) announced last month that an independent member of the company’s board of directors, Douglas Stuve, passed away. Stuve served as chair of Pediapharm’s compensation, corporate governance and nominating committee.
“First and foremost, on behalf of the board of directors and the entire Pediapharm team, we want to extend our deepest sympathies to Doug’s family,” chairman Pierre Lapalme said in prepared remarks. “In addition to being a good friend, he was a valued member of the Pediapharm family and we are forever grateful for his contributions.”
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Fractyl appoints doc, former Senator to board
Fractyl Laboratories last month appointed former N.J. senator William Bradley and Dr. John Amatruda to the company’s board of directors.
Bradley served in the U.S. Senate from 1979 to 1997 and in 2000 he vied for a spot as the Democratic nominee for president. He previously worked as chief outside advisor to McKinsey & Co.’s non-profit practice, as well as senior advisor and vice chairman of the international council of JP Morgan.
Dr. Amatruda has helped lead drug discovery at Bayer and Merck, focusing on programs for metabolism, diabetes, obesity, atherosclerosis and heart disease.
“At Fractyl, we are harnessing breakthrough scientific insights into the role of the gut in metabolism to advance a scalable procedural therapy that aims to reverse these diseases,” co-founder & CEO Dr. Harith Rajagopalan said in prepared remarks. “To guide us as we advance this new medical device and procedure, we welcome to our board of directors: Senator Bradley, who has important experience in advising businesses on how to make a deep and enduring impact on the world, and Dr. Amatruda, who is an expert in metabolic disease research and drug development. Their experience and advice will be invaluable as Fractyl transforms the way Type II diabetes and NAFLD/NASH are treated.”
“Type II diabetes and other metabolic diseases caused by insulin resistance are an epidemic of staggering proportions, impacting hundreds of millions of people around the globe,” Bradley added. “I was impressed with the potential for Fractyl’s innovative technology to fundamentally improve population health.”
“While we have a number of drugs for Type II diabetes, we still find it difficult to control the disease for many patients,” Dr. Amatruda said. “Fractyl breaks new ground in elucidating the importance of the duodenum in metabolic diseases and in developing an effective treatment procedure targeting insulin resistance. Fractyl’s approach is a much needed alternative to escalating drug treatment.”
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