PERCARDIA INC. ANNOUNCES APPOINTMENT OF NEW DIRECTOR
Boston, February 23, 2000 /PRNewswire/... Percardia Inc., a privately held medical device company focused on the development of new therapeutic interventions for the treatment of coronary artery disease, today announced that Robert C. Strauss has been appointed to its Board of Directors. With Mr. Strauss's appointment, Percardia now has seven members on its Board of Directors.
Mr. Strauss currently serves as President & CEO and as a director of Noven Pharmaceuticals, a leading developer, manufacturer and marketer of transdermal and transmucosal drug delivery products and technologies. Prior to joining Noven, Mr. Strauss was most noted for his work as President, Chief Executive Officer and Chairman of Cordis Corporation, a publicly traded medical device company based in Miami, Florida. He was instrumental in the strategic development of that company, and under his leadership annual revenues increased from $100 to $500 million. Cordis was acquired by Johnson & Johnson in February 1996 in a stock-for-stock transaction valued at $1.8 billion. Mr. Strauss serves as a director of Columbia Laboratories Inc. and Eclipse Surgical Technologies, Inc., and as a member of the Board of Trustees for the University of Miami. Jack Gill, Ph.D., Chairman of the Percardia Board, commented, "We are delighted to welcome Bob to our Board of Directors. His extensive experience in the cardiovascular industry will be of tremendous value to Percardia. Mr. Strauss adds significant operational experience to our Board."
Percardia's proprietary technology is based on intellectual property licensed from Dr. Peter Wilk, a noted surgeon and inventor. The device creates a channel from the left ventricle of the heart to the coronary artery and creates an entirely novel method of delivering blood. The company is in development and early testing of the device and is backed by leading investors, including Atlas Venture, Crescendo Ventures, Medtronic Inc. and Vanguard Venture Partners. For more information, please contact Percardia at 603.882.1803.