ZipLine™ Medical announces appointment of John R. Tighe as CEO

  ZipLine™ Medical announces appointment of John R. Tighe as CEO

       Tighe previously was CEO of PEAK Surgical, acquired by Medtronic

Business Wire

CAMPBELL, Calif. -- April 09, 2012

ZipLine Medical (www.ziplinemedical.com), an emerging medical device company
that is developing a platform technology — PRELOC™
(Pre-placementRE-aligningLow-tensionClosure)—for noninvasive surgical skin
closure designed to provide a suture-like outcome with the speed of staples,
reported today that it appointed John R. Tighe as President and CEO in the
third quarter of 2011.

ZipLine Medical also announced that it closed a Series “B” funding round for
$5 million in the third quarter of 2011. The lead investors were Claremont
Creek Ventures and X/Seed Capital Management. Total funding in ZipLine Medical
is now $6 million. Proceeds from the Series “B” financing are being used to
complete product development and establish commercial operations.

“John Tighe is a serial CEO who knows how to build and grow profitable
companies,” said Amir Belson, M.D., Founder of ZipLine Medical. “We are very
excited to emerge from stealth mode with a highly experienced CEO who has an
outstanding track record of achievement.”

“I see important similarities between the ZipLine Medical opportunity and my
experience at PEAK Surgical,” added Mr. Tighe. “For example, both companies
have platforms with large target markets and broad applications across major
medical specialties. This kind of wide-open possibility is rare among medical
device companies. And, too, I was the first employee at PEAK and the third
employee at ZipLine, so I understand what it takes to build a growth-oriented
and profitable company from scratch,” Tighe said.

“We want to work with great entrepreneurial teams who are committed to
pursuing short innovation cycles. Certainly, John Tighe and ZipLine personify
those characteristics,” said Ted Driscoll, Ph.D., a Technology Partner at
Claremont Creek Ventures.

“We back driven leaders who are pursuing breakthrough innovations at their
company’s earliest stages. The ZipLine product family will meet a critical
market need for improved convenience for both patients and doctors with
best-in-class cosmetic outcomes,” said Robert Siegel, a General Partner at
X/Seed Capital Management.

Prior to being recruited to ZipLine Medical, Mr. Tighe was a Director and
President and CEO of PEAK Surgical, joining the company as its first employee
in June 2006. In July 2011, he negotiated the acquisition of PEAK Surgical by
Medtronic. Mr. Tighe was responsible for establishing clinical development and
sales of PEAK’s novel radio frequency technology in a variety of surgical
specialties, including General Surgery, ENT, Orthopedics, and Plastic Surgery.
Prior to joining PEAK, he served as Senior Vice President and General Manager
at Arthrocare Corp., where he managed the company’s three business units,
comprised of Sports Medicine, ENT, and Spine. During his time at the company,
Arthrocare was one of the fastest-growing publicly traded medical device
companies. Mr. Tighe is a member of the Community Advisory Board of El Camino
Hospital of Los Gatos (CA), and earned a bachelor’s degree in Civil
Engineering at the University of Maryland.

ZipLine Medical (www.ziplinemedical.com), headquartered in Campbell, Calif.,
is an emerging medical device company that has developed a platform technology
— PRELOC™ (Pre-placementRE-aligningLow-tensionClosure)—for noninvasive
surgical skin closure via a simple, easy-to-learn and easy-to-use device.
Because skin-closure is a common denominator of almost all surgeries,
ZipLine’s PRELOC platform for the pre-placement, reapproximation and
low-tension realignment of skin tissue has broad applicability across numerous
medical specialties. There is an existing $4.2 billion worldwide market
opportunity covering most surgical procedures involving skin incision.
ZipLine’s initial target applications include: C-section, laparotomy,
pacemaker/ICD implant, laparoscopic port, orthopedic, and excisional skin
biopsy closure.

NOTICE: ZipLine™ devices are classified by the U.S. FDA as ‘Class I, Exempt.’
The Company has confirmation of FDA determination of this classification on
file.

                                                                 MA0007 rev. B

Contact:

Ronald Trahan Associates Inc.
Ronald Trahan, APR, +1 508-359-4005
 
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