For Immediate Release
Date: October 10, 2013
PALO ALTO, Calif. – October 10, 2013- SinuSys Corporation, an innovative sinus health company, today announced the appointment of William G. “Bill” Mavity to its Board of Directors.
Mr. Mavity has almost 30 years of experience in the medical technology arena. He is currently the President and CEO of Cerephex Corporation, an early stage company focused on the development and commercialization of a non-invasive cortical stimulation technology for the treatment of chronic pain. He led the funding effort for that company’s initial venture capital funding round, which closed in September, 2012.
“We are very pleased to welcome Bill to our Board,” said Thomas Schreck, CEO and President of SinuSys Corp. “His experience and success in the medical device field will provide us with invaluable guidance as we expand our commercialization capabilities in advance of our anticipated FDA 510(k) clearance.”
Mr. Mavity has previously served as the President and Chief Executive Officer of two public companies- InnerDyne Medical, Inc. (NASDAQ:IDYN) and Cohesion Technologies, Inc. (NASDAQ:CSON), both of which were acquired by larger public companies, generating substantial shareholder returns. He has held similar positions in a number of private companies, in addition to serving as a Director of numerous private medical technology companies. His experience includes companies focused on cardiovascular disease (CV surgery, atrial fibrillation, and heart failure), orthobiologics, biomaterials, laparoscopic surgery, obesity, sleep apnea, and peripheral vascular products. His early career experience with the 3M Company included an assignment with 3M Europe, based in Brussels, and serving as the General Manager of the Sarns/3M Healthcare subsidiary.
“I am looking forward to the opportunity to help an outstanding SinuSys team in introducing a disruptive technology with tremendous potential to the market,” said Mavity. “The SinuSys Vent-Os™ system enables truly minimally invasive treatment of sinusitis in an outpatient environment that will clearly be of great advantage to the millions of patients suffering from this condition.”
Mr. Mavity is a graduate of the University of Delaware, and serves on the Advisory Council for the UD College of Engineering. He also was an officer in the U. S. Army Reserve, Corps of Engineers, from 1973 to 1983.
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 Corp.
SinuSys Corp. (www.sinusys.com) develops medical device therapies to improve the health of millions of patients suffering from chronic sinusitis worldwide. The company’s proprietary self-expanding, osmotic technology is designed to be atraumatic, tissue-sparing and easy to use, potentially enabling clinicians to intervene at earlier stages of sinus disease. The company seeks to provide improved options for the 20 percent of sinusitis patients whose disease is not resolved with drug therapy. The Company’s first commercial product is designed to treat sinusitis by gently opening the sinus ostia, thereby restoring natural sinus drainage and ventilation using a simple, two-step interventional approach. The low-pressure, gradual expansion and simplicity of the device are designed to make it compatible for use in office-based procedures under local anesthesia.