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Percardia Inc. Names M. Jacqueline Eastwood to Board of Directors and Patrick T. Cahalan to Position of Vice President of Research

Boston, August 4, 1999/PRNewswire/...Percardia Inc. an early stage medical device company focused on the development of new therapeutic interventions for the treatment of coronary artery disease announced two new appointments. M. Jacqueline Eastwood was elected to its Board of Directors, replacing Dr. Scott Wolf. Additionally, Patrick T. Cahalan was appointed Vice President of Research.

Ms. Eastwood was employed by Medtronic Inc. (NYSE: MDT), the world's leading medical technology company specializing in implantable and interventional therapies, from 1987-1998 where she served in the roles of Vice President of Corporate Ventures, Vice President of Minimally Invasive Cardiac Surgery and Vice President and General Manager of Medtronic Bio-Medicus. Ms. Eastwood's technology and marketing background will be invaluable as the Company introduces the Percardia cardiovascular device to the medical marketplace. She has a rich understanding of the medical market and longstanding relationships within the medical community of physicians and administrators.

Percardia Inc. also announced that Dr. Scott Wolf, President of Itasca Ventures, has resigned from the board. "Dr. Wolf was a founder of the company and laid the foundation for our development efforts. Dr. Wolf is leaving the board to concentrate his efforts on another new venture, CardioClasp™, and we thank him for his contributions to Percardia and wish him continued success" stated Nancy Briefs, President & CEO.

Percardia continues to expand its senior management team with the addition of Patrick T. Cahalan as Vice President of Research. Mr. Cahalan is recognized as one of the renowned researchers in the field of biomaterials. Mr. Cahalan holds over 30 patents in his 25+ years in the medical device field. Most recently he was Director of Research for Intelligent Biocides, Tewksbury, MA. Prior to this he was employed by Medtronic for 22 years in numerous research and engineering positions. Most recently, he was a "Bakken Fellow" at the Medtronic Bakken Research Center, Maastricht, the Netherlands. "We are pleased to add Mr. Cahalan to our organization. His distinguished background in biomaterials is an asset in leading our research program, particularly with an implantable cardiovascular device" said Nancy Briefs.

Percardia's proprietary technology is based on intellectual property licensed from Dr. Peter Wilk, a noted surgeon and inventor. The device creates a shunt from the left ventricle of the heart to the coronary artery. This direct left ventricle communication creates an entirely new method of delivering blood to the heart. The company is in development and early testing of the new device and closed a first round financing of $8.5M in June 1999. The company was founded in March 1998 and is located in Nashua, NH.


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