Dr Oern Stuge Appointed Chairman of Phagenesis
MANCHESTER, England -- March 21, 2013
Phagenesis, the world’s leading company in the treatment of dysphagia, has
appointed Dr Oern Stuge, former senior executive at Medtronic and Abbott
Laboratories, as Chairman.
The appointment comes as Phagenesis secures its first revenues from its
Phagenyx™ treatment for dysphagia, launched in Q4 2012. Dysphagia is the
inability to swallow safely, a condition caused by a variety of neurological
conditions including stroke, Parkinson’s disease, cerebral palsy and multiple
Dr Stuge brings to Phagenesis his extensive experience at Medtronic Inc. in
different positions including Senior Vice President & President Cardiac
Surgery, President EMEA, Latin America, Canada & India, member of the
Executive Committee & Operating Committee. Dr Stuge began his career as a
practicing physician and has an MD from the University of Oslo, and an MBA
from IMD in Lausanne.
Dr Stuge said: “I am honoured to be invited to chair the board of Phagenesis,
whose innovative technology addresses a genuine unmet need. With the company’s
technology we hope to help many patients: dysphagia is a debilitating
condition that affects tens of millions worldwide who, until now, have not had
access to a treatment that addresses the underlying neurological mechanism of
Henry Hyde Thomson, outgoing chairman, commented: “In the three years I have
served as Chairman, Phagenesis has grown from a start-up to a
revenue-generating company which has successfully launched its dysphagia
treatment. Dr Stuge’s extensive experience in the field of medical devices
will help ensure Phagenesis’ continued success as it rolls out this vital
treatment to patients and their carers around the world.”
Phagenyx is the result of almost 20 years of R&D at the University of
Manchester, UK. Treatment consists of a calibrated electrical signal delivered
to the oropharynx (back of the throat) for 10 minutes a day for three
consecutive days. Randomised controlled trials have shown that patients
improve their swallowing function, and brain imaging shows that this is
achieved through cortical remapping; a healthy part of the brain takes over
the function of the damaged swallowing control centre.
Daniel Green, CEO, said: “Dr. Stuge’s appointment to the chairmanship is a
great vote of confidence in Phagenesis and the prospects for the Phagenyx
treatment, as we focus on the delivery of proven tools to help clinicians
improve the lives of dysphagic patients in their care.”
Phagenesis has developed the first clinically proven treatment for dysphagia,
a debilitating and often lethal condition in which the patient’s ability to
swallow is damaged. Dysphagia can lead to the inhalation of solids or liquids
followed by pneumonia. Sufferers may face being fed through a tube
indefinitely, reduced life expectancy, and many are treated for depression.
Phagenesis raised a £2 million Series A financing in 2010 and a €7m financing
in 2011. For more information, please visit our website atwww.phagenesis.com.
+44 (0)161 820 4525
+44 (0)161 820 4524
+44 (0)7968 183 512
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