Medical Device Veteran Brings Broad Industry Experience in Pioneering Technologies
BOSTON, MA--(Marketwired - Jun 7, 2016) - InspireMD, Inc. (NYSE MKT:
NSPR) ("InspireMD" or the "Company"), a leader in embolic prevention systems (EPS), neurovascular devices and thrombus management
technologies, today announced the appointment of James Barry, Ph.D. as President and CEO effective immediately. Prior to this
appointment, Dr. Barry served as InspireMD's Chief Operating Officer since July 2014 and has been a member of the Company's Board
of Directors since January 2012. He replaces Alan Milinazzo, who previously announced his decision to step down as Director,
President and CEO in January 2016. Mr. Milinazzo will continue to serve as an advisor to the Company.
Dr. Barry brings more than two decades of experience in the medical device industry. For more than 18 years, he held senior
roles at Boston Scientific Corporation. Dr. Barry initiated and oversaw the development of Boston Scientific's Taxus™ stent which
quickly became the number one selling drug eluting stent worldwide. He also oversaw the development of the technology that is
employed in the Synergy™ Everolimus-Eluting Stent System.
Sol J. Barer, Ph.D., Chairman of InspireMD, commented, "We are extremely pleased to name Dr. Barry as President and CEO. Jim
brings an invaluable set of capabilities, relationships, and experience in line with our efforts to pioneer and commercialize new
device technologies that leverage our proprietary MicroNet™ platform. Jim is well-versed in the Company, as a Board Member and in
his previous role as the Company's Chief Operating Officer, where he led initiatives to realign the organization around corporate
strategic objectives, such as the transition into the carotid and neuro interventional markets, and also to design, develop,
obtain regulatory clearances, and begin commercial activities for CGuard™ EPS."
Dr. Barry commented, "I am excited to take on the challenge of driving broad clinical and commercial acceptance of our CGuard™
technology. We have a growing body of clinical evidence that supports the therapeutic benefits of CGuard™, which has been well
received so far by the clinical community. We are now well focused on bringing that innovative success to gaining commercial
traction. I look forward to ongoing, targeted initiatives with our distributor partners, including Penumbra, to develop broad
based markets where our products are of routine clinical use. Finally, I am delighted to continue to serve with and further build
around the focused, dedicated and talented team of InspireMD."
In addition to serving as a Board Member of InspireMD, Dr. Barry serves on a number of Advisory Boards including the College
of Biomedical Engineering at Yale University, the College of Sciences at University of Massachusetts-Lowell, and the
Massachusetts Life Science Center. Dr. Barry holds a Bachelor's Degree in Chemistry from St. Anselm College and a Ph.D. in
Biochemistry from the University of Massachusetts-Lowell.
About CGuard™ EPS
The proprietary CGuard™ Embolic Prevention System (EPS) uses the same MicroNet™ technology featured on the MGuard™ and MGuard
Prime™ coronary Embolic Protection Systems. The CGuard™ EPS is designed to prevent peri-procedural and late embolization by
trapping potential emboli against the arterial wall while maintaining excellent perfusion to the external carotid artery and
branch vessels.
MicroNet™ is a bio-stable mesh woven from a single strand of 20 micron Polyethylene Terephthalate (PET).
CGuard™ EPS is CE Marked and not approved for sale in the U.S. by the U.S. Food and Drug Administration at this time.
About InspireMD, Inc.
InspireMD seeks to utilize its proprietary MicroNet™ technology to make its products the industry standard for embolic
protection and to provide a superior solution to the key clinical issues of current stenting in patients with a high risk of
distal embolization, no reflow and major adverse cardiac events.
InspireMD intends to pursue applications of this MicroNet™ technology in coronary, carotid (CGuard™), neurovascular, and
peripheral artery procedures. InspireMD's common stock is quoted on the NYSE MKT under the ticker symbol NSPR.
Forward-looking Statements
This press release contains "forward-looking statements." Such statements may be preceded by the words "intends," "may,"
"will," "plans," "expects," "anticipates," "projects," "predicts," "estimates," "aims," "believes," "hopes," "potential" or
similar words. Forward-looking statements are not guarantees of future performance, are based on certain assumptions and are
subject to various known and unknown risks and uncertainties, many of which are beyond the Company's control, and cannot be
predicted or quantified and consequently, actual results may differ materially from those expressed or implied by such
forward-looking statements. Such risks and uncertainties include, without limitation, risks and uncertainties associated with (i)
market acceptance of our existing and new products, (ii) negative clinical trial results or lengthy product delays in key
markets, (iii) an inability to secure regulatory approvals for the sale of our products, (iv) intense competition in the medical
device industry from much larger, multinational companies, (v) product liability claims, (vi) product malfunctions, (vii) our
limited manufacturing capabilities and reliance on subcontractors for assistance, (viii) insufficient or inadequate reimbursement
by governmental and other third party payers for our products, (ix) our efforts to successfully obtain and maintain intellectual
property protection covering our products, which may not be successful, (x) legislative or regulatory reform of the healthcare
system in both the U.S. and foreign jurisdictions, (xi) our reliance on single suppliers for certain product components, (xii)
the fact that we will need to raise additional capital to meet our business requirements in the future and that such capital
raising may be costly, dilutive or difficult to obtain and (xiii) the fact that we conduct business in multiple foreign
jurisdictions, exposing us to foreign currency exchange rate fluctuations, logistical and communications challenges, burdens and
costs of compliance with foreign laws and political and economic instability in each jurisdiction. More detailed information
about the Company and the risk factors that may affect the realization of forward looking statements is set forth in the
Company's filings with the Securities and Exchange Commission (SEC), including the Company's Annual Report on Form 10-K and its
Quarterly Reports on Form 10-Q. Investors and security holders are urged to read these documents free of charge on the SEC's web
site at http://www.sec.gov. The Company assumes no obligation to publicly update
or revise its forward-looking statements as a result of new information, future events or otherwise.