Former Wright exec takes reins at Intrinsic

The same week Wright Medical Group ($WMGI) announced it had found its new CEO, Woburn, MA-based Intrinsic Therapeutics tapped its new chief. Intrinsic's new CEO is Cary Hagan, one of three Wright execs to abruptly leave in May for what his former employer termed was "no good reason."

Hagan spent many years at Wright, starting there in 1989 and working his way up through a series of sales and marketing positions. At one point, he served as product senior director of biologics, helping grow Wright's Orthobiologics program "from 'point zero' to market segment leader," Intrinsic said in a release. He eventually became senior VP, commercial operations for Europe, Middle East and Africa, the last position he held at Wright.

At Intrinsic, Hagan will oversee a company focused on offering surgeons better options for treating disc herniations in the spine. The company's procedures look to reinforce the injured tissues, restoring function and reducing the incidence of reherniation, according to Intrinsic's website. Earlier this year, the company announced the first patient had been enrolled in a study of its Barricaid device, which is not yet for sale in the U.S. The company is enrolling up to 800 patients in a prospective, randomized, superiority study comparing Barricaid with traditional limited discectomy.

Other company execs have expressed enthusiasm at Hagan's coming on board. "Cary's proven success in bringing new technologies to the global market makes him an ideal choice to lead Intrinsic's next stage of growth as we expand our international clinical and commercial activity," said Greg Lambrecht, founder and board member of Intrinsic. "I look forward to working closely with him to continue to improve the outcomes of the most frequently performed spinal procedures with our innovative Barricaid anular closure products and extend our operations to new markets."

- see the Intrinsic release