He replaces Dale Pfost, PhD, who was serving as interim CEO and remains Chairman. Mr. Bold is also joining Vestagen’s Board of Directors.

The company also reported that it has completed a US 7.0 million financing, which was a planned extension of its previous financing. The proceeds will support commercialization of Vestex, the active barrier technology that combines fluid repellent, antimicrobial and breathability properties.

Positive outlook

“Bill has an outstanding record of successfully developing and commercializing novel medical devices that address new markets, including navigating the FDA review process and winning adoption of new technologies by large customers,” commented Dr Pfost.

“He will be ably assisted by the highly experienced team we have assembled, including newly hired senior sales executive Jim Beyer, who has generated exponential growth for innovative medical devices in his previous positions.”

“We want to thank our investors for their continuing support. We will soon be expanding our product line and filing for FDA review of Vestex as a protective medical device. These are exciting times for Vestagen, and we look forward to rapid progress going forward.”

Skills and experience

Mr Bold was formerly President and CEO at Vascular Pathways, where he headed a turnaround that resulted in its successful acquisition by CR Bard. During his tenure Mr Bold developed and commercialized three FDA-approved products for new markets.

Previously, he held senior leadership positions at catheter securement device maker Venetec International, where he helped grow revenues ten-fold in five years, and at vascular device firm Access Scientific and healthcare supply chain exchange Medibuy.com.

“Healthcare uniforms have been linked to the potential spread of dangerous pathogens. Vestagen is addressing the unmet need for better worker and patient safety with its game-changing Vestex products and technologies, which transform everyday healthcare apparel into a protective medical device,” commented Mr Bold. “I look forward to working with the talented Vestagen team.”

Senior sales executive

The company also hired Jim Beyer, an accomplished medical device sales executive with established industry relationships at major hospitals, group purchasing organizations and health systems.

He most recently was Vice President of Corporate Sales at Masimo, a cutting edge developer of noninvasive patient monitoring technologies, where he led the development of multiple new channels that helped increase sales from US 45 million to US 600 million in eight years.

Previously, Mr Beyer held sales and marketing positions of increasing responsibility in the medical device industry. He began his career at VHA/Novation and Columbia/HCA.

www.vestagen.com