NOVASHUNT MEDICAL DEVICE COMPANY INCORPORATES.NovaShunt, Inc., Saratoga, Calif. a medical device company that designs, develops and markets proprietary, implantable automated fluid management systems has been incorporated as a Delaware corporation with design and manufacturing facilities in Hayward, California. NovaShunt was founded in 2002 to develop and manufacture automated implantable pump implantable pump Therapeutics A device installed under the skin to administer a steady dose of drugs systems to move fluids around inside the body. The company's initial product line focuses on a large unmet clinical need to remove excess fluid that accumulates in the abdominal cavity abdominal cavity Largest hollow space of the body, between the diaphragm and the top of the pelvic cavity and surrounded by the spine and the abdominal muscles and others. in patients with a variety of illnesses including liver failure liver failure Clinical medicine Liver insufficiency that results in death, requires a liver transplant, or is characterized by recovery after encephalopathy, or while awaiting a transplant; also defined as a condition with ≥ 3 of following: albumin < 3. , congestive heart failure congestive heart failure, inability of the heart to expel sufficient blood to keep pace with the metabolic demands of the body. In the healthy individual the heart can tolerate large increases of workload for a considerable length of time. and some types of cancer. The company, which has intellectual property around its technology, expects to have products available for clinical testing in early 2005. Leading the company's design, development and investor relations Investor relations The process by which the corporation communicates with its investors. effort is Noel Johnson, Ph.D., who was recently appointed as president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of NovaShunt. Dr. Johnson has extensive experience developing medical devices and managing and growing start-up medical device companies. Most recently, Dr. Johnson was co-founder, president and chief technology officer at HealtheTech, Inc., a medical device company in Golden, Colo., engaged in the design and development of handheld devices and software products that allow health professionals to measure and monitor important parameters such as nutrition, metabolism and weight management in clinical and commercial applications. Prior to that, Dr. Johnson spent 13 years with Abbott Laboratories where he worked extensively with pump technologies and implantable devices. He also directed business development and mergers and acquisitions for a major division of Abbott Laboratories. "Noel is an experienced leader with a proven track record in the medical device industry," said Dan Burnett, M.D., MBA MBA abbr. Master of Business Administration Noun 1. MBA - a master's degree in business Master in Business, Master in Business Administration , founder, chairman and chief medical officer of NovaShunt. "His broad experience in managing organizations, from start ups through large organizations, makes him an ideal fit for NovaShunt." "I am pleased to accept the position as president and CEO of NovaShunt," said Dr. Johnson. NovaShunt has a significant opportunity to improve the quality of patients' lives while making a profound impact on the medical device industry. I look forward to leading the initiatives that will drive that success," continued Johnson. NovaShunt is currently completing its first round of financing. About NovaShunt Headquartered in Saratoga, Calif., NovaShunt, Inc. is a leading innovator of a new category of patented, fluid shunting Shunting The act of connecting an electrical element in parallel with (across) another element. The shunting connection is shown in illus. a. technologies and products designed to drain and remove chronic fluid build-up in the body. For more information, visit http://www.novashunt.com or call 408/872-1510. |
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