InspireMD, Inc. has announced that Ofir Paz, co-founder, board member and Chief Executive Officer of InspireMD since its founding in 2005, intends to step down as CEO as part of a planned transition to prepare the Company for formal commercialisation of its proprietary MGuard™ Embolic Protection Stent (EPS) platform technology for patients with Acute Myocardial Infarction.
We’ve covered InspireMD before, most recently in August when the company publicly hinted at positive results from the pivotal study into the performance of its MGuard device. The results are expected to be announced at this year’s (Ttranscatheter Cardiovascular Therapeutics (TCT) meeting which will take place in October, and may well form the foundation stone for a significant commercialisation push, which it seems Mr Paz reckons should be spearheaded by new blood.
To this end, the board has formed a search committee to locate a successor CEO candidate and the Company has engaged an executive search firm to assist in this process. Mr. Paz will remain the Company’s CEO until a successor is named. Mr. Paz will remain a director following his resignation as CEO.
Sol Barer, PhD, Chairman of InspireMD, said: “We are finalizing our U.S. approval pathway while getting set for the formal marketing launch of the MGuard technology platform outside the U.S. under our existing CE Mark.
“We are deeply indebted to Ofir for his leadership as co-founder, director and CEO for the past seven years. His vision and persistence were instrumental in bringing us to this important juncture. His insights and continuing contributions as a board member will be valued by all of us.
Source: InspireMD, Inc.