Full Press Release Details
Names Dr. James Barry as President and CEO
Medical Device Veteran Brings Broad
Industry Experience in Pioneering Technologies
BOSTON, MA - June 7, 2016
- InspireMD, Inc. (NYSE MKT: NSPR) ("InspireMD" or the "Company"), a leader in embolic prevention
systems (EPS), neurovascular devices and thrombus management technologies, today announced the appointment of James Barry, Ph.D.
as President and CEO effective immediately. Prior to this appointment, Dr. Barry served as InspireMD's Chief Operating Officer
since July 2014 and has been a member of the Company's Board of Directors since January 2012. He replaces Alan Milinazzo,
who previously announced his decision to step down as Director, President and CEO in January 2016. Mr. Milinazzo will continue
to serve as an advisor to the Company.
Dr. Barry brings more than two decades
of experience in the medical device industry. For more than 18 years, he held senior roles at Boston Scientific Corporation. Dr.
Barry initiated and oversaw the development of Boston Scientific's Taxus stent which quickly became the number one
selling drug eluting stent worldwide. He also oversaw the development of the technology that is employed in the Synergy
Everolimus-Eluting Stent System.
Sol J. Barer, Ph.D., Chairman of InspireMD
commented, "We are extremely pleased to name Dr. Barry as President and CEO. Jim brings an invaluable set of capabilities,
relationships, and experience inline with our efforts to pioneer and commercialize new device technologies that leverage our proprietary
MicroNetTM platform. Jim is well-versed in the Company, as a Board Member and in his previous role as the Company's
Chief Operating Officer, where he led initiatives to realign the organization around corporate strategic objectives, such as the
transition into the carotid and neuro interventional markets, and also to design, develop, obtain regulatory clearances, and begin
commercial activities for CGuardTM EPS."
Dr. Barry commented, "I am excited
to take on the challenge of driving broad clinical and commercial acceptance of our CGuardTM technology. We have a growing
body of clinical evidence that supports the therapeutic benefits of CGuardTM, which has been well received so far by
the clinical community. We are now well focused on bringing that innovative success to gaining commercial traction. I look forward
to ongoing, targeted initiatives with our distributor partners, including Penumbra, to develop broad based markets where our products
are of routine clinical use. Finally, I am delighted to continue to serve with and further build around the focused, dedicated
and talented team of InspireMD."
In addition to serving as a Board Member
of InspireMD, Dr. Barry serves on a number of Advisory Boards including the College of Biomedical Engineering at Yale University,
the College of Sciences at University of Massachusetts-Lowell, and the Massachusetts Life Science Center. Dr. Barry holds a Bachelor's
Degree in Chemistry from St. Anselm College and a Ph.D. in Biochemistry from the University of Massachusetts-Lowell.
The proprietary CGuard Embolic Prevention
System (EPS) uses the same MicroNet technology featured on the MGuard and MGuard Prime coronary Embolic Protection
Systems. The CGuard EPS is designed to prevent peri-procedural and late embolization by trapping potential emboli against
the arterial wall while maintaining excellent perfusion to the external carotid artery and branch vessels.
MicroNet is a bio-stable mesh woven
from a single strand of 20 micron Polyethylene Terephthalate (PET).
CGuard EPS is CE Marked and not
approved for sale in the U.S. by the U.S. Food and Drug Administration at this time.
About InspireMD, Inc.
InspireMD seeks to utilize its proprietary
MicroNetTM technology to make its products the industry standard for embolic protection and to provide a superior solution
to the key clinical issues of current stenting in patients with a high risk of distal embolization, no reflow and major adverse
InspireMD intends to pursue applications
of this MicroNetTM technology in coronary, carotid (CGuardTM), neurovascular, and peripheral artery procedures.
InspireMD's common stock is quoted on the NYSE MKT under the ticker symbol NSPR.
Forward-looking Statements
This press release contains "forward-looking
statements." Such statements may be preceded 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 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 (i) market acceptance of our existing and new products, (ii) negative clinical trial results
or lengthy product delays in key markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv)
intense competition in the medical device industry from much larger, multinational companies, (v) product liability claims, (vi)
product malfunctions, (vii) our limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) insufficient
or inadequate reimbursement by governmental and other third party payers for our products, (ix) our efforts to successfully obtain
and maintain intellectual property protection covering our products, which may not be successful, (x) legislative or regulatory
reform of the healthcare system in both the U.S. and foreign jurisdictions, (xi) our reliance on single suppliers for certain product
components, (xii) the fact that we will need to raise additional capital to meet our business requirements in the future and that
such capital raising may be costly, dilutive or difficult to obtain and (xiii) 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. 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.
Chief Financial Officer
Phone: 1-888-776-6804 FREE
Email: craigs@inspiremd.com
Phone: (212) 554-5482