Phagenesis, a pioneering company that has developed a first-of-its-kind neurostimulation system to treat swallowing dysfunction, announced the appointment of Chad Hoskins as Chief Executive Officer (CEO). The seasoned executive brings decades of experience in scaling innovative MedTech therapies, driving commercial growth in the US and delivering on strategic objectives.
“We are extremely excited to have Chad join the company at this critical phase of growth as we build on our success in Europe and expand the use of Phagenyx® in the US,” said Oern Stuge, MD, Chairman of the Board of Directors, Phagenesis. “His relentless focus on improving patient care and deep experience in commercializing novel technologies will bolster the company’s efforts to bring our life-changing therapy to more patients in the US, Europe, and beyond.”
The company previously announced it closed $42M in Series D financing, led by EQT Life Sciences and Sectoral Asset Management, with new investors British Patient Capital, Northern Gritstone and Aphelion. The funding is primarily intended to bolster commercialization efforts for Phagenyx® in the US and Europe. Phagenyx® is the first and only pharyngeal electrical stimulation (PES) therapy that directly treats neurogenic dysphagia (difficulty swallowing), which is most often caused by stroke. Each year, approximately 12.2 million people worldwide will have a stroke1 and more than 50% will suffer from dysphagia,2 leading to a reduced quality of life, malnutrition, increased risk of death, longer hospital stays and higher healthcare costs.
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Mr. Hoskins brings more than two decades of experience launching innovative medical technologies. Most recently, he served as CEO of Axon Therapies, developing a novel denervation technology to treat heart failure. Prior to Axon, he led Commercial Strategy for Outset Medical, where he developed the company’s initial commercialization plan and supported several rounds of fundraising, including a successful IPO. Before Outset, Mr. Hoskins was Divisional Vice President of Heart Failure Therapies at Abbott, as well as a consultant with McKinsey & Company. He holds a Bachelor of Arts in economics from Georgetown University, a Master of Public Health from Columbia University and a Master of Business Administration from The Wharton School of Business at the University of Pennsylvania.
“Loss of swallowing function after a stroke can be physically and emotionally devastating for patients and costly for providers to manage. Phagenyx’s non-surgical, implant-free approach to restoring swallowing function significantly improves patient quality of life and reduces the cost and complexity of care for providers,” said Mr. Hoskins. “I am thrilled and honored to build on the early success of the company as we enter this next phase of global growth and expand our partnership with clinicians who have so few options to improve the clinical outcomes and quality of life for their patients with dysphagia.”
SOURCE: PRNewswire