San Diego, January 28, 2014— 5i Sciences appoints three new Directors to its Board, and raises $2 MM to further development of its products in anesthesia care and sleep medicine.
5i Sciences, a medical technology company focused on airway management products, announces the appointment of three new Directors to its Board: Mr. Avram Miller, Dena Bravata, M.D., and Mr. David Goldsmith. Mr. Miller will become the Board’s Vice-Chairman and a member of the Board’s Executive Committee.
“These appointments are an important landmark for our Company”, said Dr. Richard Rose, CEO of 5i Sciences. “Our new Directors are renown for their expertise in finance and healthcare, and have a remarkable history of building successful companies. Our ability to attract individuals of this caliber is a positive reflection on the substantial commercial opportunities of our core technology and the favorable clinical results we have observed in six completed human studies. We look forward to working with our new and current Directors, Mr. Ben Anderson-Ray and Mr. Jerome Aarestad, to build an exceptional company. ”
Mr. Miller is the CEO of the Avram Miller Company and was previously Vice President of Business Development at Intel Corporation. Dr. Bravata was a nationally recognized health services researcher at Stanford, and is now Chief Medical and Product Officer of Castlight Health. Mr. Goldsmith is Chairman of John Muir Health, and a former partner and Managing Director of Robertson Stephens and Co.
Mr. Miller commented, “5i’s unique and patented cNEP™ technology provides a non-invasive way to keep the airway open, and has a number of commercially important applications such as medical procedures requiring sedation. I believe this technology can be widely used to provide a healthier night’s sleep. I am excited to work with Dr. Rose and the other members of the 5i team as well as the Board to pursue these applications on a global scale.”
Mr. Goldsmith added, “I have worked in the field of airway management for over twenty years and believe that 5i Sciences’ technology will be extremely effective in treating a number of important medical conditions. I look forward to helping the Company commercialize its technologies.”
“5i’s innovative technology has the potential to transform the care of patients with airway management issues in a highly cost-effective manner,” Dr. Bravata commented. “I look forward to working with the 5i team as these products move towards becoming the standard of care.”
The Company has recently raised two million dollars to further its technology development, Dr. Rose confirmed.
About 5i Sciences:
5i Sciences is developing its proprietary continuous negative external pressure (cNEP™) technology for important medical and consumer applications. The Company is dedicated to offering simple to use, comfortable and well-tolerated products that keep the upper airway open. For more information, visit www.Sommetrics.com.
Richard M. Rose, M.D.
President and CEO