MANCHESTER, England--(BUSINESS WIRE)--Phagenesis, the world's leading company in the treatment of dysphagia, has appointed Dr Oern Stuge, former senior executive at Medtronic and Abbott Laboratories, as Chairman.
"Dr. Stuge's appointment to the chairmanship is a great vote of confidence in Phagenesis and the prospects for the Phagenyx treatment, as we focus on the delivery of proven tools to help clinicians improve the lives of dysphagic patients in their care."
The appointment comes as Phagenesis secures its first revenues from its Phagenyx™ treatment for dysphagia, launched in Q4 2012. Dysphagia is the inability to swallow safely, a condition caused by a variety of neurological conditions including stroke, Parkinson's disease, cerebral palsy and multiple sclerosis.
Dr Stuge brings to Phagenesis his extensive experience at Medtronic Inc. in different positions including Senior Vice President & President Cardiac Surgery, President EMEA, Latin America, Canada & India, member of the Executive Committee & Operating Committee. Dr Stuge began his career as a practicing physician and has an MD from the University of Oslo, and an MBA from IMD in Lausanne.
Dr Stuge said: "I am honoured to be invited to chair the board of Phagenesis, whose innovative technology addresses a genuine unmet need. With the company's technology we hope to help many patients: dysphagia is a debilitating condition that affects tens of millions worldwide who, until now, have not had access to a treatment that addresses the underlying neurological mechanism of the condition."
Henry Hyde Thomson, outgoing chairman, commented: "In the three years I have served as Chairman, Phagenesis has grown from a start-up to a revenue-generating company which has successfully launched its dysphagia treatment. Dr Stuge's extensive experience in the field of medical devices will help ensure Phagenesis' continued success as it rolls out this vital treatment to patients and their carers around the world."
Phagenyx is the result of almost 20 years of R&D at the University of Manchester, UK. Treatment consists of a calibrated electrical signal delivered to the oropharynx (back of the throat) for 10 minutes a day for three consecutive days. Randomised controlled trials have shown that patients improve their swallowing function, and brain imaging shows that this is achieved through cortical remapping; a healthy part of the brain takes over the function of the damaged swallowing control centre.
Daniel Green, CEO, said: "Dr. Stuge's appointment to the chairmanship is a great vote of confidence in Phagenesis and the prospects for the Phagenyx treatment, as we focus on the delivery of proven tools to help clinicians improve the lives of dysphagic patients in their care."
Phagenesis has developed the first clinically proven treatment for dysphagia, a debilitating and often lethal condition in which the patient's ability to swallow is damaged. Dysphagia can lead to the inhalation of solids or liquids followed by pneumonia. Sufferers may face being fed through a tube indefinitely, reduced life expectancy, and many are treated for depression. Phagenesis raised a £2 million Series A financing in 2010 and a €7m financing in 2011. For more information, please visit our website at www.phagenesis.com.
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