For Immediate Release
Date: November 18, 2010
Contact: Ashwin Pushpala (408) 483-6518
Former CEO of Genentech and COO of Abbo4 to help guide the research and development of SinuSys’ Rigid Inflatable Membrane System (RIMS) technology Palo Alto, CA – SinuSys, a sinus health company, announced today the appointment of Kirk Raab as Chairman of the company’s Board of Directors. SinuSys recently completed its inaugural Series A financing to expedite research and development activities.
“Kirk Raab brings a wealth of experience not only as the former CEO of Genentech but as a businessman who has had a global impact on the biotechnology and pharmaceuDcal industries,” said Thomas Schreck, chief executive officer of SinuSys. “His business acumen, commercialization experience and first-hand understanding of devices and pharmaceutics will serve as a great resource for our company.”
Mr. Raab has over 52 years of pharmaceutical and biotechnology experience. Beginning as a salesman with Pfizer in Brooklyn, New York, he was appointed to marketing management roles in the company with responsibility for international marketing in Brazil, Argentina and Chile. He started Beecham’s pharmaceutical business in Latin America from his home in Mexico City. He later moved to AbboX Laboratories, where he served first as Vice President, Latin America, and later, as Executive Vice President, President and COO and a Director. During that period, he was a member of the Board of Directors of Amgen until he joined Genentech as President, COO and a Director in 1985. He was elected CEO of Genentech in 1990, where he remained until 1995. Mr. Raab was the Founding Chairman of the California Health are Institute and the Biotechnology Industry Organization. Since leaving Genentech, he has been involved in over 15 biotech companies, many as Chairman. He is currently Chairman of five companies. Mr. Raab graduated with honors from Colgate University and is a Trustee Emeritus. He also served as a member of the Chancellor’s Court of Oxford University.
“I’m excited to join the Board of Directors of SinuSys as Chairman to help guide their research and development activities,” said Mr. Raab. “I believe their proprietary RIMS technology represents an important new development in providing physicians and patients with a simple and elegant, minimally-invasive option to restoring sinus health.”
About Sinusitis
Chronic sinusitis affects more than 31 million people in the United States. It is more prevalent than heart disease and asthma and has a greater impact on patients’ quality of life than chronic back pain or congestive heart failure. The majority of patients with chronic sinusitis are treated with oral antibiotics and/or nasal steroids, which can increase the risk of antibiotic resistance and cause unwanted side effects such as epistaxis (nose bleeds), nasal ulcers, and nasal and oral infections. The most effective treatments are Functional Endoscopic Sinus Surgery (FESS) and balloon dilation at high pressures, which are known to cause significant patient discomfort and are conducted in a surgical suite under general anesthesia or IV sedation. The United States healthcare system currently spends more than $8 billion annually on improving the health of patients with sinus conditions.
About SinuSys
SinuSys Corporation (www.sinusys.com) is a medical device company focused on developing new therapies to improve the sinus health of patients with chronic sinusitis. The company’s initial focus is a self-expanding medical device inserted at the ostium of the maxillary sinus, which restores functional sinus drainage and ventilation without causing patient discomfort. The insert does not require external hardware or physician training to support expansion, and can be placed in an office-based setting, mitigating the need for general anesthesia and invasive sinus surgery and minimizing patient recovery time. The insert utilizes SinuSys’ proprietary Rigid Inflatable Membrane System (RIMS) technology to complement an effective out-patient procedure that can be performed by Ear, Nose and Throat (ENT) physicians with minimal additional training.