Full Press Release Details
Announces Appointment of Accomplished Medical Technology Executive
R. Ward to its Board of Directors
Florida - November 25, 2024 - InspireMD, Inc. (Nasdaq: NSPR), developer of the CGuard Embolic Prevention Stent
System (EPS) for the prevention of stroke, today announced the appointment of accomplished medical technology executive Scott R. Ward
to its Board of Directors. Mr. Ward most recently served as Chief Executive Officer and President of Cardiovascular Systems, Inc. prior
to its acquisition by Abbott (NYSE: ABT) in April 2023.
Stuka, Chairman of the Board of InspireMD, stated, "We are extremely fortunate to add Scott to what I consider to be a world-class
Board of Directors. With his extensive operational experience and track record in the cardiovascular space, his insights will be invaluable
as the Company rapidly approaches potential U.S. approval of CGuard Prime, the most significant value inflection point in its history.
I look forward to Scott's contributions and believe he will have an immediate impact."
Slosman, Chief Executive Officer of InspireMD and Board member, commented, "The addition of Scott to our Board adds tremendous
experience in the cardiovascular field, with a track record of growth and innovation as an executive, a board member and investor. His
experience and legacy in the space will help guide us through our next stages of advancing our novel carotid platform as part of a comprehensive
approach to catalyzing on the market shift toward a stent first standard while also guiding our pipeline of innovation, including our
CAS, TCAR and Neuro focus."
am very excited to join the InspireMD Board at such a transformational time for the company," added Mr. Ward. "With an impressive
body of data demonstrating the superior short- and long-term patient outcomes of its novel CGuard Prime carotid stent system, I believe
that CGuard, when approved in the U.S., will quickly become a new standard-of-care for carotid intervention and stroke prevention. I
look forward to working with my fellow Board members and the InspireMD leadership team to achieve this goal."
Ward has over 40 years of experience in the healthcare industry, including nearly 30 years at Medtronic, Inc. where he served in various
leadership roles including as Senior Vice President and President of the CardioVascular, Neurological and Diabetes businesses. Mr. Ward
is the Founder of Raymond Holdings, a firm with activities in venture capital, strategy and transactional advisory services for medical
technology and life science companies. He earned his Bachelor of Science in Genetics and Cell Biology, his Master of Science in Toxicology,
and his Master of Business Administration, all from the University of Minnesota.
seeks to utilize its proprietary MicroNet technology to make its products the industry standard for carotid stenting by providing
outstanding acute results and durable, stroke-free long-term outcomes. InspireMD's common stock is quoted on the Nasdaq under the
routinely post information that may be important to investors on our website. For more information, please visit www.inspiremd.com.
press release contains "forward-looking statements." Forward-looking statements include, but are not limited to, statements
regarding InspireMD or its management team's expectations, hopes, beliefs, intentions or strategies regarding the future. Such
statements may be preceded by the words "intends," "may," "will," "plans," "expects,"
"anticipates," "projects," "predicts," "estimates," "aims," "believes,"
"hopes," "potential", "scheduled" or similar words. Forward-looking statements include, but are not
limited to, statements regarding InspireMD or its management team's or directors' expectations, hopes, beliefs, intentions
or strategies regarding future events, future financial performance, strategies, expectations, competitive environment and regulation,
including potential U.S. commercial launch.. 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 the company's control,
and cannot be predicted or quantified and consequently; actual results may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with our history
of recurring losses and negative cash flows from operating activities, significant future commitments and the uncertainty regarding the
adequacy of our liquidity to pursue our complete business objectives, and substantial doubt regarding our ability to continue as a going
concern; our need to raise additional capital to meet our business requirements in the future and such capital raising may be costly
or difficult to obtain and could dilute our stockholders' ownership interests; market acceptance of our products; an inability
to secure and maintain regulatory approvals for the sale of our products; negative clinical trial results or lengthy product delays in
key markets; our ability to maintain compliance with the Nasdaq listing standards; our ability to generate revenues from our products
and obtain and maintain regulatory approvals for our products; our ability to adequately protect our intellectual property; our dependence
on a single manufacturing facility and our ability to comply with stringent manufacturing quality standards and to increase production
as necessary; the risk that the data collected from our current and planned clinical trials may not be sufficient to demonstrate that
our technology is an attractive alternative to other procedures and products; intense competition in our industry, with competitors having
substantially greater financial, technological, research and development, regulatory and clinical, manufacturing, marketing and sales,
distribution and personnel resources than we do; entry of new competitors and products and potential technological obsolescence of our
products; inability to carry out research, development and commercialization plans; loss of a key customer or supplier; technical problems
with our research and products and potential product liability claims; product malfunctions; price increases for supplies and components;
insufficient or inadequate reimbursement by governmental and other third-party payers for our products; our efforts to successfully obtain
and maintain intellectual property protection covering our products, which may not be successful; adverse federal, state and local government
regulation, in the United States, Europe or Israel and other foreign jurisdictions; the fact that we conduct business in multiple foreign
jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and costs
of compliance with foreign laws and political and economic instability in each jurisdiction; the escalation of hostilities in Israel,
which could impair our ability to manufacture our products; and current or future unfavorable economic and market conditions and adverse
developments with respect to financial institutions and associated liquidity risk. More detailed information about the Company and the
risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities
and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Investors
and security holders are urged to read these documents free of charge on the SEC's web site at http://www.sec.gov. The Company
assumes no obligation to publicly update or revise its forward-looking statements as a result of new information, future events or otherwise.
Padala, Managing Director