Orchestra BioMed™ Appoints C. Evan Ballantyne as Chief Financial Officer
December 04 2018 - 12:00PM
- Industry veteran brings over 25 years
of financial and operational management experience with a proven
track record of developing and implementing successful strategies
to drive growth and build shareholder value -
Orchestra BioMed, Inc. (“Orchestra BioMed” or the “Company”), a
biomedical innovation company developing advanced therapeutic
solutions to address major unmet medical needs, announced today
that it has appointed Evan Ballantyne as its Chief Financial
Officer (CFO). Mr. Ballantyne is an experienced financial and
strategic leader in the biotech, medical device and information
services industries with a proven track record of building and
strengthening a company’s financial position during his career of
more than 25 years.
David Hochman, Chairman and Chief Executive
Officer of Orchestra BioMed, commented, “Over the course of his
career, Evan has played key roles in successfully leading companies
in the full range of strategic options in financing including
private equity and public offerings. His proven track record,
business acumen, and established network of relationships will be a
critical resource for Orchestra BioMed as we plan for rapid
progress in our innovative product development and value creation
strategy in the years ahead.”
Prior to joining Orchestra BioMed, he most
recently served as the CFO at Accera, Inc., an Alzheimer’s disease
focused company backed by Nestlé Health Sciences. Mr. Ballantyne
previously served as Executive Vice President and CFO of Clinical
Data, Inc., a biopharmaceutical company that was acquired by Forest
Labs for $1.6 billion. He was also CFO of Synthetic Biologics, Inc.
(NYSE: SYN), a microbiome-focused company where he led the
company’s re-structuring effort, and CFO at Agenus, Inc. (NASDAQ:
AGEN), an immuno-oncology company where he helped complete several
acquisitions and partnerships as well as monetize a GlaxoSmithKline
royalty-stream for gross proceeds of $115 million. He also served
as CFO of the private medical technology companies Avedro, Inc. and
ZymeQuest, Inc. Before entering the healthcare industry, Mr.
Ballantyne served as CFO of Knowledge Impact, Inc., a software
company whose technology was ultimately acquired by Oracle, Inc.,
and as COO and CFO at the ACNielsen Corporation. He also held
positions in finance at IMS Health (d.b.a. IQVIA NYSE: IQV) and Dun
& Bradstreet Corp. Mr. Ballantyne holds a BA from the
University of Western Ontario and a post-graduate degree in
business administration from the University of Windsor.
“Our business strategy is to
leverage partnerships with established global market leaders
to optimize the clinical impact and commercial value of our
technologies designed to address major unmet clinical needs
primarily in the area of cardiovascular disease. By successfully
executing this innovative approach, we expect to generate
long-term, high margin cash flow from royalties, revenue sharing,
as well as licensing and development payments from strategic
partners. Evan’s expertise is perfectly aligned with our unique
strategy, and we look forward to benefitting from his insights,
experience and contributions as we seek to establish Orchestra
BioMed as a premier biomedical innovation company,” added Mr.
Hochman.
“I firmly believe Orchestra BioMed’s innovative
business model will accelerate market access to groundbreaking
treatments for major unmet needs like artery disease and
hypertension. I am especially pleased to join the leadership team
at what I believe is a pivotal stage in the Company's growth,”
stated Mr. Ballantyne. “I am eager to leverage my broad experience
as a member of the Orchestra BioMed team and to contribute to the
Company’s success in the near- and long-term.”
About Orchestra BioMed™
Orchestra BioMed, Inc. is a biomedical
innovation company focused on developing high impact therapeutic
solutions to address major medical conditions where options for
patients are limited or inadequate. The Company advances promising
therapeutic solutions through late-stage development based on
rigorous clinical research and then leverages partnerships with
established global leaders in product commercialization to bring
new treatment options to patients quickly and efficiently. This
strategy aims to maximize the commercial potential of novel
therapies while positioning Orchestra BioMed to generate long-term,
high-margin cash flows from revenue sharing, royalty, licensing and
product development agreements. With a primary focus on the
treatment of cardiovascular health issues that affect tens of
millions of people worldwide, the Orchestra BioMed pipeline
includes BackBeat® Cardiac Neuromodulation Therapy, a patented
implantable cardiac stimulation-based treatment for hypertension,
and Virtue® Sirolimus-Eluting Balloon, a novel, first-in-class
drug/device combination product that delivers delayed-release
bioabsorbable particle encapsulated Sirolimus to the artery during
balloon angioplasty for treatment of atherosclerosis. Orchestra
BioMed also has significant strategic ownership in other
therapeutic device companies, including FreeHold Surgical (a
wholly-owned subsidiary), Motus GI and Vivasure
Medical.
Forward Looking Statements
Some of the statements made herein constitute
forward-looking statements. These statements relate to future
financial and other performance or anticipated plans and are
identified by words such as “may,” “will,” “should,” “expect,”
“could,” “scheduled,” “plan,” “intend,” “anticipate,” “believe,”
“estimate,” “potential,” “propose” and “continue” or negative
variants of such terms. These and similar forward-looking
statements discuss the Company’s future expectations and plans. The
Company operates in a very competitive and rapidly changing
environment. New risks emerge from time to time. Given these risks
and uncertainties, the Company cautions against placing undue
reliance on these forward-looking statements. These statements are
only estimates of future performance. Actual performance or events
may not meet such expectations or estimates and may, in fact,
differ materially.
Although the Company believes that the
expectations reflected in the forward-looking statements made
herein are reasonable, the Company cannot and does not guarantee
future results, levels of activity, performance or achievements.
Moreover, the Company does not assume any responsibility for the
accuracy and completeness of such forward-looking statements in the
future. The Company does not plan and, subject to applicable law,
undertakes no obligation to update any of the forward-looking
statements made herein after the date hereof in order to conform
such statements to actual results.
Investor and Media Contact:
Jenene Thomas Communications, LLCJenene
Thomas(833) 475-8247OBIO@jtcir.com
Source: Orchestra BioMed, Inc.
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