REDWOOD CITY, Calif.,
May 21, 2015 /PRNewswire/
-- Cardica, Inc. (Nasdaq: CRDC) today announced that on
May 20, 2015, new employee
Greg Watson, the company's vice
president of operations, was granted an option to purchase 400,000
shares of the company's common stock, at a per share exercise price
of $0.43, the closing trading price
on May 20, 2015. The stock option was
granted pursuant to Cardica, Inc.'s Inducement Plan, which was
approved by the company's board of directors in May 2015 under Rule 5653(c)(4) of the Nasdaq
Global Market for equity grants to induce new employees to enter
into employment with the company.
Mr. Watson brings to Cardica more than 25 years of experience in
the medical device industry specializing in manufacturing and
product development in both startup and corporate settings.
He has extensive experience in transitioning products from research
and development to manufacturing and associated scale-up
activities. Most recently, Mr. Watson has been utilizing his
experience and leadership skills to consult for start-up/mid-stage
medical device firms in various stages of commercialization to
establish and scale up their manufacturing operations. Prior
to consulting, he held the positions of vice president of
manufacturing operations and product development for Uptake
Medical, and as vice president, operations and manufacturing for
TherOx. Mr. Watson served twelve years at Baxter Healthcare
Corporation where he held various positions in the cardiovascular
division including director of operations, director of R&D and
plant manager. Prior to joining TherOx, Mr. Watson spent
twelve years at Baxter Healthcare Corporation where he held various
positions in the cardiovascular division including director of
operations, director of R&D and plant manager. Early in
his career Mr. Watson held a variety of manufacturing management
positions at Becton Dickinson in the production of high volume
medical devices. He has started manufacturing operations,
closed manufacturing plants and relocated operations both
domestically and offshore. He currently holds nine U.S.
patents. Greg earned his B.S. in Industrial Management from
California State Polytechnic University.
About Cardica
Cardica designs and manufactures
proprietary stapling and anastomotic devices for cardiac and
laparoscopic surgical procedures. Cardica's technology
portfolio is intended to reduce operating time and facilitate
minimally-invasive and robot-assisted surgeries. Cardica's
MicroCutter XCHANGE® 30, a cartridge-based articulating
surgical stapling device with a five-millimeter shaft diameter, is
manufactured and cleared for use in a variety of gastrointestinal
procedures and appendectomies in the
United States, and for a wide range of surgical procedures
in Europe. In addition, Cardica
manufactures and markets its automated anastomosis systems, the
C-Port® Distal Anastomosis Systems and
PAS-Port® Proximal Anastomosis System for coronary
artery bypass graft (CABG) surgery, and has shipped over 53,000
units throughout the world.
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SOURCE Cardica, Inc.