Functional Neuromodulation Announces CEO Leadership Transition
MINNEAPOLIS, Jan. 25, 2019 /PRNewswire/ -- Functional Neuromodulation Ltd. ("FNM" or the "Company"), a medical device company focused on bringing to market DBS-f, an implantable deep brain stimulation (DBS) therapy targeting the fornix for mild Alzheimer's disease patients, announces that Mr. Todd Langevin will succeed Mr. Vincent Owens as Chief Executive Officer with effect from January 25, 2019. Mr. Owens will remain deeply involved in the Company as Executive Chairman.
Mr. Langevin most recently served as President and Chief Operating Officer of FNM since its formation in 2011. Prior to joining FNM, Mr. Langevin held senior leadership roles at medical device companies including CVRx and Medtronic. His prior roles during 20-year career at Medtronic included Vice President & General Manager of Medtronic's DBS Movement Disorders Business and an earlier role as European Business Director, Neuromodulation.
Mr. Owens, Executive Chairman of FNM commented: "Todd has been instrumental in leading the company through the ADvance I study, CE Mark approval, and IDE approval of the ADvance II pivotal study of DBS-f. FNM's investors, employees and I have great confidence in Todd's leadership and we look forward to beginning enrollment in ADvance II."
About Alzheimer's Disease
Alzheimer's disease (AD) is a progressive neurodegenerative disorder characterized by cognitive decline and behavioral disturbances that eventually result in a person's inability to perform daily activities. It is estimated that 25 million individuals are living with AD worldwide.
About Functional Neuromodulation Ltd.
Functional Neuromodulation Ltd. (FNM), founded in 2010 in Toronto by Dr. Andres Lozano, is advancing deep brain stimulation therapy to improve the lives of people with mild Alzheimer's disease. In partnership with Boston Scientific, FNM is developing the use of deep brain stimulation of the fornix (DBS-f) to drive neural activity and modulate the memory circuit in patients with mild Alzheimer's disease. The company completed the ADvance I Study, a multi-center Phase II randomized clinical trial of DBS-f, and it has initiated the ADvance II study, a pivotal study of DBS-f in mild Alzheimer's disease in the U.S., Europe, and Canada. More information about the company can be found at www.fxneuromod.com.
About the ADvance II clinical study:
ADvance II is an FDA IDE approved clinical study (ClinicalTrials.gov Identifier: NCT03622905) of DBS-f in mild Alzheimer's disease, being conducted at approximately 15 centers in the U.S. and Canada and 6 centers in Germany.