Cyberonics Names Bruce H. KenKnight, Ph.D. Vice President, Emerging Therapies
HOUSTON, Jan. 9, 2013
HOUSTON, Jan. 9, 2013 /PRNewswire/ --Cyberonics, Inc. (NASDAQ:CYBX) today
announced that Bruce H. KenKnight, Ph.D., joined the company as its Vice
President, Emerging Therapies, effective on January 1, 2013. Dr. KenKnight
will lead all of the company's emerging therapies programs, including the
current clinical evaluation of Autonomic Regulation Therapy, an emerging
therapy for treatment of chronic heart failure that incorporates Cyberonics'
extensive experience delivering vagus nerve stimulation to more than 100,000
Most recently, Dr. KenKnight was President and CEO of Valtech Cardio Ltd, a
privately-held company developing innovative solutions for surgical and
percutaneous mitral valve repair and replacement.For the 20-year period
ending in 2010, he worked at Boston Scientific Corporation (formerly Guidant
Corporation), finally serving as Vice President of Research and Business
Development for the Cardiac Rhythm Management Division. Dr. KenKnight has
served on the Board of Directors of seven privately-held companies and is an
author of more than 150 peer-reviewed manuscripts, reviews, book chapters and
conference abstracts in fields relating to cardiac electrophysiology and heart
failure. He is an editorial consultant for several cardiology journals and
serves as Associate Editor for Cardiovascular Engineering and Technology. In
2006, Dr. KenKnight received the Albert Einstein Award for Outstanding
Achievement in the Life Sciences from the Global Business Leadership Council
in Tel Aviv, Israel. In 2007, he was elected to the College of Fellows of the
American Institute for Medical and Biological Engineering (AIMBE). Dr.
KenKnight is also an Adjunct Professor of Biomedical Engineering at the
University of Minnesota and is named as an inventor on more than 120 U.S.
patents and more than 250 patents world-wide.
"Bruce has 30 years of experience developing high-value solutions to address
major unmet medical needs and has consistently demonstrated the ability to
drive innovative programs that lead to substantial shareholder value," said
Dan Moore, Cyberonics' President and Chief Executive Officer. "We
enthusiastically welcome Bruce to the Cyberonics team and look forward to
continued progress on our emerging therapy programs, facilitating the
substantial, long-term growth of the company," said Milton Morris, Ph.D.,
Senior Vice President, Research and Development.
Bruce received the Bachelor of Science degree in mechanical engineering,
Master of Science and Ph.D. degrees in biomedical engineering from the College
of Science & Technology at the University of Minnesota in Minneapolis, and has
completed business management training at the Harvard School of Business,
University of Chicago and the Kellogg School of Management.
About Cyberonics, Inc. and the VNS Therapy^® System
Cyberonics, Inc. is a medical technology company with core expertise in
neuromodulation. The company developed and markets the VNS Therapy System,
which is FDA-approved for the treatment of refractory epilepsy and
treatment-resistant depression. The VNS Therapy System uses an implanted
medical device that delivers pulsed electrical signals to the vagus nerve.
Cyberonics markets the VNS Therapy System in selected markets worldwide.
Additional information on Cyberonics and the VNS Therapy System is available
Safe harbor statement
This press release contains forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended and Section 21E of the
Securities Exchange Act of 1934, as amended. These statements can be
identified by the use of forward-looking terminology, including "may,"
"believe," "will," "expect," "anticipate," "estimate," "plan," "intend,"
"forecast," or other similar words. Statements contained in this press
release are based on information presently available to us and assumptions
that we believe to be reasonable. We are not assuming any duty to update this
information if those facts change or if we no longer believe the assumptions
to be reasonable. Investors are cautioned that all such statements involve
risks and uncertainties, including without limitation, statements concerning
development of, obtaining regulatory approval for, and commercially marketing
new emerging therapies, including Autonomic Regulation Therapy for the
treatment of chronic heart failure, achieving long-term revenue growth and
increasing shareholder value through the development of emerging therapies.
Our actual results may differ materially. Important factors that may cause
actual results to differ include, but are not limited to: continued market
acceptance of VNS Therapy™ and sales of our products; the development and
satisfactory completion of clinical trials and/or market test and/or
regulatory approval of new products, including VNS Therapy™ for the treatment
of other indications; satisfactory completion of the post-market registry
required by the U.S. Food and Drug Administration as a condition of approval
for the treatment-resistant depression indication; adverse changes in coverage
or reimbursement amounts by third-parties; intellectual property protection
and potential infringement claims; maintaining compliance with government
regulations and obtaining necessary government approvals for new products and
indications; product liability claims and potential litigation; reliance on
single suppliers and manufacturers for certain components; the accuracy of
management's estimates of future expenses and sales; the potential
identification of material weaknesses in our internal controls over financial
reporting; and other risks detailed from time to time in our filings with the
Securities and Exchange Commission (SEC). For a detailed discussion of these
and other cautionary statements, please refer to our most recent filings with
the SEC, including our Annual Report on Form 10-K for the fiscal year ended
April 27, 2012 and our Quarterly Report on Form 10-Q for fiscal quarters ended
July 27, 2012 and October 26, 2012.
Greg Browne, CFO
100 Cyberonics Blvd.
Houston, TX 77058
Main: (281) 228-7262
Fax: (281) 218-9332
SOURCE Cyberonics, Inc.
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