Full Press Release Details
Nephros Appoints Daron Evans as President and Chief Executive
Officer and Lawrence Centella as Chairman of the Board of Directors
Inc. (NEPH), a commercial stage medical device company that develops
and sells high performance liquid purification ultrafilters and an on-line mid-dilution hemodiafiltration system for use with a
hemodialysis machine for the treatment of chronic renal failure patients, announced today that Daron Evans has been appointed President
and Chief Executive Officer. Effective upon Mr. Evans's appointment, Dr. Paul Mieyal stepped down as acting CEO of Nephros
and will remain as a member of the company's board of directors. Additionally, Lawrence Centella has been appointed Chairman
of the Board of Directors.
"We appreciate Paul's leadership through this period
of transition, especially in creating strong momentum for 2015 by capitalizing on the 510K clearance of our hospital ultrapure
filters," said Mr. Centella. "We are pleased to have Daron join in a full-time operational role and are committed to
growing our water filter business and to commercializing our hemodiafiltration business."
"Nephros has a unique opportunity to impact patients'
lives on two fronts. Our partnership with leaders in the hospital water treatment market will put our point-of-delivery ultrapure
water filters on the front line of infection control," said Mr. Evans. "Separately, our hemodiafiltration technology
and our ultrapure dialysis filters have the potential to improve the standard of care in certain patients with end stage kidney
disease. I am excited to join the management team at Nephros to capitalize on our opportunity to both help patients and reward
shareholders for their commitment."
Evans has served on Nephros' board of directors since 2013. He is a life sciences executive with over 20 years of financial
leadership and operational experience. Mr. Evans was recently Managing Director of PoC Capital, LLC, and is a member of the board
of Zumbro Discovery, Inc., an early stage company developing a novel therapy for resistant hypertension. From 2007 to 2013, Mr.
Evans was Chief Financial Officer of Nile Therapeutics, Inc., a development-stage cardiovascular company that merged with Capricor
Therapeutics, Inc. (CAPR) in 2013. From 2004 to 2007, he held various
project management and performance improvement roles at Vistakon Inc. and Scios, Inc., both divisions of Johnson & Johnson
Corp. Mr. Evans was a co-founder of Applied Neuronal Network Dynamics, Inc. and served as its President from 2002 to 2004. From
1995 to 2002, Mr. Evans served in various roles at consulting firms Arthur D. Little and Booz Allen & Hamilton. Mr. Evans received
his Bachelor of Science in Chemical Engineering from Rice University, his Master of Science in Biomedical Engineering from a joint
program at the University of Texas at Arlington and Southwestern Medical School and his MBA from the Fuqua School of Business at
About Larry Centella
Mr. Centella has served as a director of Nephros since January
2001. Mr. Centella served as President of Renal Patient Services, LLC, a company that owned and operated dialysis centers, and
served in such capacity from June 1998 to 2014. From 1997 to 1998, Mr. Centella served as Executive Vice President and Chief Operating
Officer of Gambro Healthcare, Inc., an integrated dialysis company that manufactured dialysis equipment, supplied dialysis equipment
and operated dialysis clinics. From 1993 to 1997, Mr. Centella served as President and Chief Executive Officer of Gambro Healthcare
Patient Services, Inc. (formerly REN Corporation). Prior to that, Mr. Centella served as President of COBE Renal Care, Inc., Gambro
Hospal, Inc., LADA International, Inc. and Gambro, Inc. Mr. Centella is also the founder of LADA International, Inc. Mr. Centella
received his B.S. from DePaul University.
Nephros is a commercial stage medical device company that develops
and sells high performance liquid purification filters. Our filters, which we call ultrafilters, are primarily used in dialysis
centers for the removal of biological contaminants from water, bicarbonate concentrate and/or blood.
We were founded in 1997 by healthcare professionals affiliated
with Columbia University Medical Center/New York-Presbyterian Hospital to develop and commercialize an alternative method to hemodialysis
(HD). We have extended our filtration technologies to meet the demand for liquid purification in other areas, in particular water
Presently, we offer ultrafilters for sale to customers in five
more information about Nephros, please visit the company's website at www.nephros.com.
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking
statements." Such statements include statements regarding the efficacy and intended use of our products and other technologies
under development, and the availability of funding sources for continued development of such products and other statements that
are not historical facts, including statements which may be accompanied by the words "intends," "may,"
"will," "plans," "expects," "anticipates," "projects," "predicts,"
"estimates," "aims," "believes," "hopes," "potential" or similar words.
Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are subject to various
known and unknown risks and uncertainties, many of which are beyond our control. Actual results may differ materially from the
expectations contained in the forward-looking statements. Factors that may cause such differences include, but are not limited
to, the risks that: (i) we may not be able to continue as a going concern; (ii) we may not be able to obtain funding if and when
needed or on terms favorable to us in order to continue operations and successfully implement our business plan; (iii) we face
significant challenges in obtaining market acceptance of our products and sales growth in key geographic areas, which could adversely
affect our potential sales and revenues; (iv) we face potential liability associated with the production, marketing and sale of
our products including with respect to potential serious injuries, product-related deaths or product malfunctions, product recalls,
product liability claims, class action lawsuits or other events that could cause us to incur expenses and may also limit our ability
to generate revenues from such products; (v) to the extent our products or marketing materials are found to violate any provisions
of the FDC Act or any other statutes or regulations then we could be subject to enforcement actions by the FDA or other governmental
agencies; (vi) the voluntary recalls of point of use and DSU in-line ultrafilters used in hospital water treatment applications
announced on October 30, 2013 and the related circumstances could subject us to claims or proceedings by consumers, the FDA or
other regulatory authorities which may adversely impact our sales and revenues; (vii) we may encounter problems with our suppliers,
manufacturers and distributors; (viii) we may encounter unanticipated internal control deficiencies or weaknesses or ineffective
disclosure controls and procedures; and (ix) we may not be able to secure or enforce adequate legal protection, including patent
protection, for our products.
More detailed information about us and the risk factors that
may affect the realization of forward-looking statements, including the forward-looking statements contained in this press release,
is set forth in our filings with the SEC, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2014,
and our other periodic reports filed with the SEC. We urge investors and security holders to read those documents free of charge
at the SEC's website at www.sec.gov. We do not undertake to publicly update or revise
our forward-looking statements as a result of new information, future events or otherwise, except as required by law.
Kirin M. Smith, Chief Operating Officer
Direct: 646-863-6519