CloSys Appoints New Leadership and Board Members to Guide Corporate Revitalization, Complete Pivotal U.S. Clinical Trial

MINNEAPOLIS, MN, United States, via ETELIGIS INC., 12/08/2014 – – CloSys Corporation announced today new company leadership, including a new CEO and new members of its Board of Directors. The new team will guide CloSys through an organizational revitalization focused on establishing strategic partnerships and completing a pivotal U.S. clinical trial to demonstrate the safety and efficacy of its vascular closure device.

CloSys has developed the CloSys Hemostatic Device (HD), a patented technology that facilitates closure of the femoral artery puncture site after an interventional cardiology or peripheral vascular procedure. It is unique in its ability to achieve closure without leaving any foreign materials in the patient’s body. CloSys HD integrates smoothly into existing catheter lab workflows, is economical to use, improves patient comfort levels, and increases staff efficiency.

The new CEO of CloSys Corporation, Kevin Dillon, will work with his fellow board members to reinvigorate and restructure the company with an eye toward expanding resources and strengthening governance. He has more than 25 years of medical device experience with large organizations including St. Jude Medical and Boston Scientific, as well as with successful smaller start-up companies such as IntraTherapuetics Inc. and Endocardial Solutions.

“Our company is approaching a pivotal point, in particular as it re-engages in the clinical trial process to firmly establish the role CloSys HD plays in addressing key patient safety, care quality and economic issues within cardiology and vascular service lines,” said Dillon. “This new leadership team will provide expertise as CloSys enters a crucial stage of its development.”

Chairing the CloSys Board of Directors is Bruce Johnson, who is currently “of counsel” to the law firm of Fredrikson and Byron, P.A., where he has practiced for 14 years advising healthcare and other companies on legal, merger and acquisition, intellectual property and business matters. Prior to this, Johnson served as an attorney for Medtronic in the United States and in Europe for 27 years. While at Medtronic, Johnson served as General Counsel for Medtronic Europe and as Assistant General Counsel for Medtronic. Johnson, who brings over 40 years of experience related to the medical device business, earned his B.S.E.E. and J.D. from the University of Minnesota.

Joining Johnson are four individuals who bring to the Board specific expertise in business strategy, operations, investment, and research and development.

– Christopher Barys is currently vice president and general manager of the Interventional Lung Solutions Division of Covidien and serves on the board of Urologix. He has a 22-year track record of success with such vascular and surgical device organizations as the Global Surgical Pain Division of Kimberly Clark Healthcare, FlowCardia Inc. and Edwards Lifesciences Peripheral Vascular Systems Division, and has served in senior management roles in sales and marketing with Cordis Cardiology, Boston Scientific and U.S. Surgical.

– John Erb brings more than 35 years of experience in the medical device industry with large companies such as American Hospital Supply, Johnson & Johnson and Pfizer and venture-capital financed start-ups. Erb, who is president and CEO of NuAx Inc., previously built two successful venture capital financed medical device companies and has been on the board of five public companies, two of which were acquired by Medtronic, Inc. and CR Bard. He currently chairs the boards of Sunshine Heart, Vascular Solutions and Osprey Medical.

– Warren Watson has been part of the Cardiac Rhythm Management organization at Medtronic for more than 33 years in various significant technical and commercial leadership roles. He serves on the Board of Directors for Sunshine Heart, Inc., Cardialen, Inc., NuAx, Mardil Medical Inc., and Gillette Children’s Specialty Healthcare. Previously, he was on the boards of CardioMems, Inc., Excigen, Inc., Endocardial Solutions, Inc., Survivalink, Inc. and Cameron Health, as well as the Continua Consortium, Citizens Independent Bank of St. Louis Park and Kinship of Greater Minneapolis.

– Steven Zenz is a director of Insignia Systems, where he also chairs the audit committee and serves on the compensation committee, and is a director and audit committee chair of NuAx. He is also a consultant on mergers and acquisitions, particularly advising organizations on valuations, SEC filings and integration, using expertise he acquired in his 34 years in various capacities with KPMG.

“Our board represents a rich tapestry of experience and expertise that will be invaluable to CloSys’ growth and ongoing research into the next generation of high-quality and trusted vascular devices,” said Dillon. “We look forward to their contributions as we move forward.”

About CloSys Corporation:

CloSys Corporation is a privately-held Minnesota company that has patented, developed, tested and is in a clinical evaluation a unique vascular closure method designed to incorporate the market’s requirements for a safe, easy-to-use and cost effective product. It is the only vascular closure device that leaves no foreign materials in the patient’s body. For more information, visit http://www.closyscorp.com.

CONTACT:

Media Contact:

Michael Dunn

Stude-Becker Advertising & Communications

(651) 293-1393

mike

SOURCE: CloSys Corporation

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