invendo medical appoints Berthold Hackl as CEO
KISSING, GERMANY, Aug 14, 2007 – invendo medical, developer of the breakthrough single-use invendoscope™ SC20 which will potentially allow for sedation- and painless colonoscopy, today announced the appointment of Berthold Hackl as Chief Executive Officer. Mr. Hackl joins invendo from Heidelberg Innovation, a European venture capital firm focussed on life sciences and specifically medical devices, where he served as Managing Partner. He will head the management team which also comprises Dr. Konstantin Bob, a founder of the company, as Chief Medical Officer and Timo Hercegfi as Chief Financial Officer.
"Over the months, we have transformed the senior management team by bringing to invendo highly experienced operational and financial executives. With Berthold Hackl as CEO, the senior management team is now well-positioned to realize the significant opportunities for our innovative technology" said Dr. Gerald Moeller, Chairman of the Supervisory Board. He added, "Berthold brings a wealth of management experience in the medical device and financial sector and a proven leadership track record that will help drive invendo’s future growth."
Prior to Heidelberg Innovation, Mr. Hackl held a variety of senior management positions. He was twice the founding member for new German and European businesses of Pharmacia (among them Biacore; both businesses now part of GE Healthcare) and grew both into leading players in their fields. Later he became a member of the core management team that repositioned Stratec Medical (Synthes-Stratec; the word’s largest trauma implant company) for its IPO in 1996 (SWX, today € 10bn market cap). Along the way, Mr. Hackl founded one of the first European eHealth ventures (Medical Monitor), gained turnaround and capital markets experience (Eurofins, FSE; Chief Advisor for last successful biotech offering on Neuer Markt in the year 2000). Berthold Hackl is a molecular biologist and holds a MBA from INSEAD.
About the single-use invendoscope™ SC20
invendo’s patented device combines a highly flexible endoscope shaft and proprietary ‘inverted sleeve’ technology that potentially enables a painless colonoscopy, as there are no direct forces applied against the intestinal walls while the device passes through narrow intestinal convolutions, thus enabling a fast and potentially painless examination of the large intestine. invendo’s colonoscope is CE-marked in Europe. Market launch is expected in 2008.
About invendo medical GmbH
Headquartered in Kissing (Munich), Germany, invendo medical (www.invendo-medical.com) is a globally leading developer of novel disposable endoscopy products in the field of gastroenterology that are simple to use and reduce pain compared to conventional modalities. The Company’s initial product focus is in the area of ‘sedationless and painless’ colonoscopy.
Contact:
Timo Hercegfi, CFO, invendo medical GmbH, +49 8233 74498 0
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Caution: Investigational Device. Limited by U.S. federal law to investigational use. The invendoscopy™ System is not available for sale in the United States. Only for clinical investigational use and exhibition purposes.