TIDMIRSH
Mainstay Medical Announces the Appointment of Matthew Onaitis as
Chief Financial Officer
Dublin - Ireland, 20 August 2018 - Mainstay Medical
International plc ("Mainstay"or the "Company", Euronext Paris:
MSTY.PA and Euronext Dublin: MSTY.IE), a medical device company
focused on bringing to market ReActiv8®, an implantable restorative
neurostimulation system to treat disabling Chronic Low Back Pain,
announces the appointment of Matthew Onaitis as Chief Financial
Officer, effective August 20, 2018.
Mr. Onaitis has worked with dynamic healthcare businesses for 20
years, ranging from global multinationals including Biogen Idec and
Elan Pharmaceuticals, to innovative specialty pharmaceutical
companies such as Ignyta, Trius Therapeutics, and Somaxon
Pharmaceuticals. He most recently served as Chief Financial Officer
of Cidara Therapeutics (NASDAQ:CDTX), a biotechnology company
developing novel anti-infectives including immunotherapies. During
his tenure at Cidara, the company raised over $185 million and
successfully progressed its lead program into late-stage clinical
trials. Cidara is one of four publicly-traded healthcare companies
at which Mr. Onaitis has been a senior executive. His experience
includes building finance teams, leading numerous public and
private financings, mergers and acquisitions and strategic
collaborations, and the management of finance, accounting, business
development, manufacturing, legal, and human resource
functions.
Jason Hannon, CEO of Mainstay, said: "I am delighted Matt is
joining Mainstay as we continue to build the business, expand our
geographic reach and move towards the potential launch of ReActiv8
in the US. His breadth of experience, as well as his deep knowledge
in financing innovative growth companies like ours, are the very
skills Mainstay needs at this stage of its growth. Matt has also
demonstrated an excellent cultural fit with Mainstay, which will be
key as he builds relationships with our customers, employees and
investors, who share a strong belief in our ability to create and
rapidly grow the market for ReActiv8."
Matt Onaitis said: "I am very excited by Mainstay's ReActiv8
technology and its potential to address an underlying cause of
chronic low back pain. I have been impressed by the Company's
progress and look forward to joining the team as we prepare for the
completion of the US clinical study, expansion of the commercial
business in Germany and additional markets, and the eventual launch
in the US."
- End -
About Mainstay
Mainstay is a medical device company focused on bringing to
market an innovative implantable restorative neurostimulation
system, ReActiv8®, for people with disabling Chronic Low Back Pain
(CLBP). The Company is headquartered in Dublin, Ireland. It has
subsidiaries operating in Ireland, the United States, Australia,
Germany and the Netherlands, and is listed on the regulated market
of Euronext Paris (MSTY.PA) and the ESM of Euronext Dublin
(MSTY.IE).
About Chronic Low Back Pain
One of the recognized root causes of CLBP is impaired control by
the nervous system of the muscles that dynamically stabilize the
spine in the low back, and an unstable spine can lead to back pain.
ReActiv8 is designed to electrically stimulate the nerves
responsible for contracting these muscles and thereby help to
restore muscle control and improve dynamic spine stability,
allowing the body to recover from CLBP.
People with CLBP usually have a greatly reduced quality of life
and score significantly higher on scales for pain, disability,
depression, anxiety and sleep disorders. Their pain and disability
can persist despite the best available medical treatments, and only
a small percentage of cases result from an identified pathological
condition or anatomical defect that may be correctable with spine
surgery. Their ability to work or be productive is seriously
affected by the condition and the resulting days lost from work,
disability benefits and health resource utilization put a
significant burden on individuals, families, communities, industry
and governments.
Further information can be found at www.mainstaymedical.com
CAUTION - in the United States, ReActiv8 is limited by federal
law to investigational use only.
Forward looking statements
This announcement includes statements that are, or may be deemed
to be, forward looking statements. These forward looking statements
can be identified by the use of forward looking terminology,
including the terms "anticipates", "believes", "estimates",
"expects", "intends", "may", "plans", "projects", "should", "will",
or "explore" or, in each case, their negative or other variations
or comparable terminology, or by discussions of strategy, plans,
objectives, goals, future events or intentions. These forward
looking statements include all matters that are not historical
facts. They appear throughout this announcement and include, but
are not limited to, statements regarding the Company's intentions,
beliefs or current expectations concerning, among other things, the
Company's results of operations, financial position, prospects,
financing strategies, expectations for product design and
development, regulatory applications and approvals, reimbursement
arrangements, costs of sales and market penetration.
By their nature, forward looking statements involve risk and
uncertainty because they relate to future events and circumstances.
Forward looking statements are not guarantees of future performance
and the actual results of the Company's operations, and the
development of its main product, the markets and the industry in
which the Company operates, may differ materially from those
described in, or suggested by, the forward looking statements
contained in this announcement. In addition, even if the Company's
results of operations, financial position and growth, and the
development of its main product and the markets and the industry in
which the Company operates, are consistent with the forward looking
statements contained in this announcement, those results or
developments may not be indicative of results or developments in
subsequent periods. A number of factors could cause results and
developments of the Company to differ materially from those
expressed or implied by the forward looking statements including,
without limitation, the successful launch and commercialization of
ReActiv8, the progress and success of the ReActiv8-B Clinical
Trial,general economic and business conditions, the global medical
device market conditions, industry trends, competition, changes in
law or regulation, changes in taxation regimes, the availability
and cost of capital, the time required to commence and complete
clinical trials, the time and process required to obtain regulatory
approvals, currency fluctuations, changes in its business strategy,
political and economic uncertainty. The forward-looking statements
herein speak only at the date of this announcement.
PR and IR Enquiries: Consilium Strategic Communications
(international strategic communications - business and trade media)
Chris Gardner, Jessica Hodgson, Nicholas BrownTel: +44 203 709 5700
/ +44 7921 697 654Email: mainstaymedical@consilium-comms.comorFTI
Consulting (for Ireland): Jonathan NeilanTel: +353 1 765 0886Email:
jonathan.neilan@fticonsulting.comorNewCap (for France) Julie
CoulotTel: +33 1 44 71 20 40Email:
jcoulot@newcap.frorAndreasBohne.Com/Kötting Consulting (for
Germany) Andreas BohneTel : +49 2102 1485368Email :
abo@andreasbohne.comorWilhelm KöttingTel: +49 69 75913293Email:
wkotting@gmail.comorInvestor Relations: LifeSci Advisors, LLC Brian
RitchieTel: + 1 (212) 915-2578Email:
britchie@lifesciadvisors.comorESM Advisers:Davy Fergal Meegan or
Barry MurphyTel: +353 1 679 6363Email: fergal.meegan@davy.ie or
barry.murphy2@davy.ie
View source version on businesswire.com:
https://www.businesswire.com/news/home/20180819005017/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
August 20, 2018 02:00 ET (06:00 GMT)
Mainstay Medical (LSE:0QUD)
Historical Stock Chart
From Apr 2024 to May 2024
Mainstay Medical (LSE:0QUD)
Historical Stock Chart
From May 2023 to May 2024