Endologix LLC

Nearly 300 of Masimo’s engineers and global managers, as well as its COO, signed public letters saying they would resign if founder Kiani was removed from the board. Masimo’s long-running proxy fight has come to a close, at least for now. During the company’s annual meeting, shareholders elected two board members nominated by activist investor Politan Capital Management—and ousted the medtech’s founder and CEO, Joe Kiani, in the process.Politan’s gains double the two board seats it claimed last year, with the June 2023 election of the firm’s managing partner, Quentin Koffey, as well as Michelle Brennan, a former executive at Johnson & Johnson, amid criticism of Masimo’s $1 billion purchase of the consumer audio group Sound United.This time around, Politan—which holds about a 9% stake in the maker of pulse oximeters and other patient monitors—decried the company’s plans to spin out its consumer businesses, including that home audio equipment as well as its high-tech baby monitor systems and health-focused smartwatches. Koffey and Brennan—along with the two newly appointed members, Darlene Solomon and William Jellison—issued a joint statement after the meeting: “While each of us is independent and brings our own unique perspectives, we are united in our enthusiasm for Masimo’s future as a leading, innovation-focused growth company.”“We look forward to meeting with, learning from, and working together with the Healthcare and Consumer employees to make Masimo an even greater company. We would also like customers to know that we will be completely focused on preventing any disruption to their service and support,” they added. “We will have more to share soon.”Solomon spent 39 years at Agilent, including as chief technology officer and senior VP, while Jellison previously served as chief financial officer at Stryker. According to a report by CNBC, Politan’s nominees received about twice as many votes as Kiani and also-ousted board member Chris Chavez, formerly CEO of Trivascular and Advanced Neuromodulation Systems. Masimo’s stock price rose about 3.4% after the vote, to over $115 per share. While Kiani said that he would quit his position and sell his company shares if the vote didn’t go his way, he may not be alone in walking out the door.Nearly 300 of Masimo’s engineers and global managers signed onto public letters saying they would do the same while Chief Operating Officer Bilal Muhsin tendered a conditional resignation letter in late June. Previously, Politan had said it would not oppose the reelection of Kiani to an expanded board.

Industry veteran brings expertise in commercialization, operations, business development and finance Company continues to focus on DRAIN-HF pivotal IDE trial and preparing for US commercialization of its percutaneous mechanical circulatory support (pMCS) technology HOUSTON, Sept. 9, 2024 /PRNewswire/ -- Procyrion™, Inc., a medical device company dedicated to improving outcomes for patients with cardiac and renal impairment, announced today the appointment of Lucas Buchanan to the company's Board of Directors. Mr. Buchanan is a seasoned MedTech executive and experienced board member and is currently the Chief Operating Officer and Chief Financial Officer at Silk Road Medical, a medical device company that pioneered transcarotid artery revascularization (TCAR). "We are thrilled to have an accomplished leader like Lucas join the Procyrion Board," said Gary F. Burbach, Chair of the Board of Directors, Procyrion. "Lucas' deep industry experience will be an important asset to the Board and company as we work together to make the groundbreaking Aortix therapy available for patients with acute decompensated heart failure." Mr. Buchanan's appointment to Procyrion's BOD follows the closing of $57.7 million in Series E financing led by Fannin Partners. The funds support the ongoing DRAIN-HF pivotal IDE trial, internal R&D programs, and commercialization preparation of the Aortix™ pMCS device. Aortix is a catheter-deployed pump designed to directly increase perfusion to the kidneys while unloading the heart and improving cardiac performance. The innovative design harnesses fluid entrainment to pump blood without the need for a valve, delivering a therapeutic benefit via a physiologically natural mechanism of action for acute decompensated heart failure (ADHF) patients who remain congested despite standard medical therapy (cardiorenal syndrome or CRS). "These diuretic resistant heart failure patients, who have failed available standard-of-care therapies, are the most difficult to treat. The novel design of Aortix has demonstrated promising results in early studies and offers patients and their physicians a much-needed treatment option," said Eric S. Fain, MD, President and Chief Executive Officer, Procyrion. "Lucas' insights on commercialization, financial stewardship and corporate strategy will be of tremendous value as we work to complete enrollment in the DRAIN-HF trial and prepare for commercialization of the Aortix pump." At Silk Road Medical, which recently announced a definitive agreement to be acquired by Boston Scientific, Mr. Buchanan leads manufacturing and operations, finance and accounting, IT, commercial operations and analytics, health economics and reimbursement, and corporate development efforts. His background includes investing and commercial roles at The Vertical Group, Impax Laboratories, Medtronic and Ernst & Young. Mr. Buchanan currently serves on the Board of Directors for Endologix and as a strategic advisory board member of CRG LP. He holds a BA in Economics from Duke University and an MBA in Health Care Management from The Wharton School at the University of Pennsylvania. "I am honored to join the Procyrion team as they progress and achieve milestones to make the Aortix pump available to CRS patients and clinicians who have exhausted all other treatment options," said Mr. Buchanan. "I look forward to sharing my perspectives as we work to bring this incredible technology to market." About Procyrion Procyrion™, Inc. is a privately held medical device company dedicated to providing effective treatment options for patients with cardiac and renal impairment. The company is developing the Aortix™ percutaneous mechanical circulatory support device, a catheter-deployed pump technology that uniquely harnesses fluid entrainment to pump blood to address multiple conditions with significant unmet needs. Aortix is limited by Federal law to investigational use only and is not approved for sale in any geography. Please visit for more information. Cautionary Statement Regarding Forward-Looking Statements This press release may contain predictions, estimates or other information that might be considered forward-looking statements. Such forward-looking statements are not a guarantee of future performance. SOURCE Procyrion

Ovation owns a unique population-scale biobank of consented and linkable disease-specific biospecimens, which includes more than 1.6 million samples from over 600,000 United States based patients; approximately one-third are tissue samples. Ovation plans to continue expanding the biobank with the addition of 200,000 + patient samples per month Ovation's biobank includes tissue, blood and other sample types from patients with diseases of current discovery and development interest including inflammatory bowel disease (IBD), liver disease, chronic kidney disease (CKD), cardio-metabolic/GLP-1, various types of cancers, and neurodegenerative diseases such as Alzheimer's disease The Company plans to produce a database of linked omics and patient/clinical data for each disease The merger combines teams with deep domain expertise in human genetics, disease pathogenesis, and pathology NEW YORK, Sept. 5, 2024 /PRNewswire/ -- Ovation and PDTx today announced the completion of their merger. The new entity creates an industry-leading multiomics data company managed by a team with deep expertise in genomics data, sequencing, bioinformatics, cell biology and imaging, AI/ML and data commercialization. The Company's enhanced platform capabilities and data libraries can drive deeper insights into cellular biology and gene expression for research, drug development, and clinical decision making and across a broad range of diseases. Continue Reading PD Theranostics "We believe the two companies are deeply complementary and will provide our customers with best-in-class, diverse multiomics data," said Curt Medeiros, CEO of Ovation. "These one-of-a-kind data sets will combine Ovation's DNA and RNA sequencing of patient samples in a given disease state with PDTx's mapping of cellular footprints, spatial context, immune system functionality and markers, as well as clinical pathology imaging. This will help drive our client's R&D efforts, from target and biomarker discovery, through optimized clinical trial enrollment." Human genomic data has become an increasingly important tool in disease target and biomarker discovery. By analyzing an individual's genetic makeup, especially in relation to clinical progression and outcomes, researchers are able to better understand the underlying causes of diseases and identify potential therapeutic targets and biomarkers. Ovation is building the world's broadest commercially available human genomic dataset that brings together whole genome sequences with longitudinal clinical records at the patient level ("clinic-genomics data") to address the speed and cost at which new research efforts can be powered by human genomics. This clinic-genomics database will enable a depth and breadth of analytics not currently possible due to the scale, continuous flow of new patient samples, and diversity of patients. "The Ovation and PDTx teams are energized and have been collaborating for the past year to position our first proof-of-concept programs in IBD and prostate cancer for groundbreaking results," said Patrick Gallagher, CEO of PDTx. "The in-house biobank will allow the team to accelerate data generation and more fully leverage the PDTx platform's high dimensional multiomic modalities that characterize cellular status. This includes changes in and predictiveness of proteins, glycans, metabolites, and cell-cell spatial relationships that can drive discovery and correlations with pathological features of disease severity, progression and therapeutic response." PDTx has developed a disease-agnostic platform to analyze data collected across multiple high-dimensional imaging technologies to discover new drug development targets and identify critical biomarkers of disease progression and therapeutic response. The PDTx platform provides the ability to visualize the presence, concentration, and distribution of molecules and analyze intra- and inter-molecular and phenotypic single-cell relationships and their impact on morphology. Ovation will retain PDTx's exclusive global license for the platform and its intellectual property from Massachusetts General Hospital (MGH) and the Vaccine and Immunotherapy Center (VIC) at (MGH). "We are incredibly excited to collaborate with the research team at Ovation," said Mark Poznansky, M.D., Ph.D, scientific co-founder of PDTx and director of the Vaccine and Immunotherapy Center at Massachusetts General Hospital. "Connecting genetic data with cellular, structural, and chemical details of tissue affected by IBD or prostate cancer can lead to important translational medical progress. For example, our combining a multiomics platform that provides information on both the genetic and protein signature in blood as well the location of specific chemicals and cells within a tissue, can help identify new sets of biomarkers that are potentially impactful diagnostically and prognostically as well as revealing of new disease-related therapeutic targets." By combining imaging and sequencing, state-of-the-art multiomics can map the location of specific proteins and chemical products in tissues and identify the location and the presence of these chemical entities. This provides a critical perspective about the cellular microenvironment and inter-cellular interactions in biopsies of diseased tissue. "This merger leverages a platform with unparalleled scalability to create a leading multiomics company with, ultimately, unparalleled data access and richness," said James Ahern, Managing Partner of Laidlaw & Company and co-founder of Lucius Partners. "The unique capabilities it creates will speed the development of cost-saving, efficacious, patient-driven solutions for the healthcare industry and continue to enhance shareholder value. We greatly appreciate our shareholder's support of this important vision." About Ovation Ovation is an omics data company committed to accelerating the development of precision medicine. Ovation provides life sciences R&D teams access to high-quality omics data linked to rich, longitudinal clinical data, across therapeutic areas, at population scale. Ovation's data increases the probability of success for drug discovery by enabling the identification and validation of biomarkers and therapeutic targets. The company has an extensive biobank of more than 1.6 million geographically diverse, consented biospecimens from over 625,000 unique patients. For more information, visit or follow the company on LinkedIn. About PD Theranostics PDTx is a data-driven healthcare company focused on leveraging proprietary workflows and using multi-parameter imaging-based methodologies to generate robust, one-of-a-kind multi-omic cellular biology-based databases for numerous disease states. Our proprietary imaging processes, (developed by scientific co-founders of PDTx and the Vaccine and Immunotherapy Center, MGH, Drs. Patrick Reeves, Ruxandra Sîrbulescu, and Mark Poznansky), driven by a multi-omics approach, will generate spatial roadmaps of human cancers and other diseases, leading to unparalleled data richness and depth. Through our ability to map tissue structures and immune populations, we believe we could more clearly define disease stage, and likelihood of disease progression, and identify the most efficacious treatment regimens for each patient. Contact Information Patrick Gallagher, CEO PD Theranostics, Inc. Managing Partner Lucius Partners, LLC [email protected] James Ahern, Founder Lucius Partners, LLC [email protected] Forward-Looking Statement This press release includes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements that relate to the advancement and development of the Ovation Platform and other information that is not historical information. When used herein, words such as "anticipate", "being", "will", "plan", "may", "continue", and similar expressions are intended to identify forward-looking statements. In addition, any statements or information that refer to expectations, beliefs, plans, projections, objectives, performance, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking. All forward-looking statements are based on Ovation's current expectations and various assumptions. Ovation believes there is a reasonable basis for its expectations and beliefs, but they are inherently uncertain. Ovation may not realize its expectations, and its beliefs may not prove correct. Actual results could differ materially from those described or implied by such forward-looking statements as a result of various important factors, including, without limitation, market conditions. Consequently, forward-looking statements should be regarded solely as Ovation's current plans, estimates and beliefs. Investors should not place undue reliance on forward-looking statements. Ovation cannot guarantee future results, events, levels of activity, performance or achievements. Ovation does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events or circumstances or to reflect the occurrences of unanticipated events, except as may be required by law. SOURCE Lucius Partners, LLC