CVRx Announces Appointment of Kevin Hykes as President and Chief Executive Officer
31 1월 2024 - 10:00PM
CVRx, Inc. (NASDAQ: CVRX) (“CVRx”), a commercial-stage medical
device company, announced today the appointment of Kevin Hykes as
the Company’s new President and Chief Executive Officer, effective
February 12. Hykes will continue to serve on the Company’s Board of
Directors. Yared will retire from the Company and resign his Board
seat concurrent with Hykes’ appointment and has agreed to consult
with the Company to ensure a seamless transition.
Hykes is an accomplished medical device industry executive with
30 years’ experience commercializing novel therapies around the
globe and has a deep understanding of CVRx, having served on the
Company’s Board of Directors since December 2022. He has served as
President and CEO for several early to mid-stage, high-growth
companies, including in the neuromodulation and cardiovascular
fields. Hykes currently serves as the President and CEO of
Augmedics, a pioneer in augmented reality surgical navigation.
Prior to joining Augmedics, he was President and CEO of Bardy
Diagnostics, which was acquired by Hillrom in August 2021. Before
Bardy Diagnostics, Hykes was President and CEO of Relievant
Medsystems, an Operating Partner at Versant Ventures, Chairman and
CEO of Metavention, Inc., CEO of Cameron Health (Boston
Scientific), and Chief Commercial Officer of Visiogen (Abbott).
Prior to joining Visiogen, he spent sixteen years at Medtronic in
the CRM, Neurostimulation, and Cardiac Surgery businesses. Hykes is
currently an Operating Advisor with Revival Healthcare Capital and
an independent board member at Metavention, Inc. He received his
MBA from Northwestern University and a BBA in Information Systems
from the University of Wisconsin.
“We are thrilled that Kevin chose to be a candidate as part of
our deliberate search and that he will become the next President
and CEO to lead CVRx during this critical period of the company’s
growth,” said Ali Behbahani, chair of the nominating and corporate
governance committee. “His considerable experience and proven track
record of success in driving the adoption of medical devices, in
combination with his knowledge of CVRx, make him an excellent fit.
We look forward to continuing to work with Kevin in his new
capacity as we continue to expand commercial adoption of Barostim
and positively impact the lives of patients suffering from heart
failure.”
“Nadim's extraordinary leadership has positioned CVRx to attract
a high-caliber CEO to lead the company in this next phase. We are
grateful for his commitment to ensure a smooth transition and look
forward to continuing to work with him during this period,”
continued Behbahani.
“I am excited to be stepping into the role of CEO after over a
year as an independent board member. I have spent the last 32 years
commercializing disruptive medical devices like Barostim with the
goal of bringing them to standard of care and making a difference
in patient’s lives,” said Hykes. “The team has done a tremendous
job demonstrating a strong clinical benefit and driving commercial
adoption of Barostim, and has generated a significant amount of
momentum up to this point. My goal is to leverage this momentum and
to continue to build the organization to drive and support further
commercial success.”
Inducement Grant Under Nasdaq Listing Rule
5635(c)(4)Pursuant to Hykes’ employment agreement with the
Company, on the date he commences employment, Hykes will receive a
stock option to purchase 360,000 shares of the Company’s common
stock with an exercise price equal to the closing price of the
Company’s common stock as reported on Nasdaq on February 12, 2024.
The stock option will vest as to 25% of the shares on the first
anniversary of the date of grant and in successive equal monthly
installments over the subsequent three years, subject to continued
employment with the Company and the terms and conditions in the
stock option agreement. The stock option is granted as an
inducement award pursuant to Rule 5635(c)(4) of the Nasdaq Listing
Rules.
About CVRx, Inc.CVRx is focused on the
development and commercialization of the Barostim™ System, the
first medical technology approved by FDA that uses neuromodulation
to improve the symptoms of heart failure. Barostim is an
implantable device that delivers electrical pulses to baroreceptors
located in the wall of the carotid artery. Baroreceptors activate
the body’s baroreflex, which in turn triggers an autonomic response
to the heart. The therapy is designed to restore balance to the
autonomic nervous system and thereby reduce the symptoms of heart
failure. Barostim received the FDA Breakthrough Device designation
and is FDA-approved for use in heart failure patients in the U.S.
It has also received the CE Mark for heart failure and resistant
hypertension in the European Economic Area. To learn more about
Barostim, visit www.cvrx.com.
Media Contact:Laura O’NeillFinn
Partners402-499-8203laura.oneill@finnpartners.com
Investor Contact:Mark Klausner or Mike
VallieICR Westwicke443.213.0501ir@cvrx.com
CVRx (NASDAQ:CVRX)
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