NeuroOne Medical Technologies Corporation (NASDAQ: NMTC)
("NeuroOne" or the "Company"), a medical technology company focused
on improving surgical care options and outcomes for patients
suffering from neurological disorders, announced today that it has
appointed medtech executive Christopher R. Volker as Chief
Operating Officer.
Mr. Volker joins NeuroOne from Abbott
Laboratories which acquired Cardiovascular Systems, Inc. in April
2023. Mr. Volker held the role of Vice President and General
Manager of International at Cardiovascular Systems, Inc., where he
had direct responsibility for international commercial expansion,
including therapy development and driving sales growth from $0 to
over $5 million per quarter. Prior to Cardiovascular Systems, Inc.,
Mr. Volker held executive leadership roles at St. Jude Medical,
which was also acquired by Abbott, where he led corporate
development, global strategic market research and health economics
& reimbursement strategy across all of St. Jude Medical's
business units as well as held executive responsibilities for human
resources for the Cardiovascular Division. He began his career in
healthcare and technology investment banking where he gained
expertise in M&A, strategic planning, asset sales, and growth
equity investments. Mr. Volker earned a Bachelor of Arts degree
from St. John’s University and a Masters of Business Administration
degree from the Wharton School of the University of
Pennsylvania.
Mr. Volker commented, “I am thrilled to join the
talented NeuroOne team and look forward to helping build broad
awareness of the Company’s exciting unique electrode platform, with
better tools for physicians to treat patients suffering from a
variety of debilitating neurological conditions.”
Dave Rosa, CEO of NeuroOne, commented, “Chris’
appointment further strengthens our executive leadership team and
deepens our capabilities as we build for future commercial growth
and expansion into other clinical applications. We are excited to
benefit from his broad experience in business development,
commercial expansion, finance and health economics, and
reimbursement.”
NeuroOne also announced that, on November 9,
2023, the Compensation Committee of the Board of Directors approved
an equity award under the NeuroOne Medical Technologies Corporation
2021 Inducement Plan (the “Inducement Plan”), as a material
inducement to one individual entering into employment with the
Company. The equity award was approved in accordance with Nasdaq
Listing Rule 5635(c)(4), which also requires a public announcement
of awards that are not made under a stockholder approved equity
plan.
In connection with entering into employment with
NeuroOne, Mr. Volker, who was not previously an employee or
director of NeuroOne, received an option to purchase 324,560
shares of the Company’s common stock. The option award has an
exercise price of $1.32 per share, the closing price of
NeuroOne’s common stock on November 10, 2023, the date of the
grant. The option has a ten-year term and vests as to 25% on the
first anniversary of Mr. Volker’s start date, with the remaining
shares vesting in equal monthly installments on the last day of
each month over the next 36 month following the first anniversary
of Mr. Volker’s start date, provided the new hire’s employment is
continuing on each such date.
About NeuroOne
NeuroOne Medical Technologies Corporation is a
developmental stage company committed to providing minimally
invasive and hi-definition solutions for EEG recording, brain
stimulation and ablation solutions for patients suffering from
epilepsy, Parkinson's disease, dystonia, essential tremors, chronic
pain due to failed back surgeries, and other related neurological
disorders that may improve patient outcomes and reduce procedural
costs. The Company may also pursue applications for other areas
such as depression, mood disorders, pain, incontinence, high blood
pressure, and artificial intelligence. For more information, visit
nmtc1.com.
Forward Looking Statements
This press release may include forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended. Except for statements of historical fact, any
information contained in this presentation may be a forward–looking
statement that reflects NeuroOne’s current views about future
events and are subject to known and unknown risks, uncertainties
and other factors that may cause our actual results, levels of
activity, performance or achievements to be materially different
from the information expressed or implied by these forward-looking
statements. In some cases, you can identify forward–looking
statements by the words or phrases "may," "might," "will," "could,"
"would," "should," "expect," "intend," "plan," "objective,"
"anticipate," "believe," "estimate," "predict," "project,"
"potential," "target," "seek," "contemplate," "continue, "focused
on," "committed to" and "ongoing," or the negative of these terms,
or other comparable terminology intended to identify statements
about the future. Forward–looking statements may include statements
regarding the development of the Company's electrode technology
program, applications for, or receipt of, regulatory clearance, the
receipt and/or timing of any feedback from the FDA relating to the
Company’s OneRF ablation system, the ability of the OneRF ablation
system to offer a safer option for patients, the timing and extent
of product launch and commercialization of our technology, clinical
and pre-clinical testing, what the future may hold for electrical
stimulation and NeuroOne's potential role, business strategy,
market size, potential growth opportunities, future operations,
future efficiencies, and other financial and operating information.
Although NeuroOne believes that we have a reasonable basis for each
forward-looking statement, we caution you that these statements are
based on a combination of facts and factors currently known by us
and our expectations of the future, about which we cannot be
certain. Our actual future results may be materially different from
what we expect due to factors largely outside our control,
including risks that the partnership with Zimmer Biomet may not
facilitate the commercialization or market acceptance of our
technology; whether due to supply chain disruptions, labor
shortages, the impact of COVID-19 or otherwise; risks that our
technology will not perform as expected based on results of our
pre-clinical and clinical trials; risks related to uncertainties
associated with the Company's capital requirements to achieve its
business objectives and ability to raise additional funds: the risk
that we may not be able to secure or retain coverage or adequate
reimbursement for our technology; uncertainties inherent in the
development process of our technology; risks related to changes in
regulatory requirements or decisions of regulatory authorities;
that we may not have accurately estimated the size and growth
potential of the markets for our technology; risks relate to
clinical trial patient enrollment and the results of clinical
trials; that we may be unable to protect our intellectual property
rights; and other risks, uncertainties and assumptions, including
those described under the heading "Risk Factors" in our filings
with the Securities and Exchange Commission. These forward–looking
statements speak only as of the date of this press release and
NeuroOne undertakes no obligation to revise or update any
forward–looking statements for any reason, even if new information
becomes available in the future.
Contact:
800-631-4030 ir@nmtc1.com
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