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Aleva Neurotherapeutics Expands Board of Directors

03-21-2012 04:23 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Aleva Neurotherapeutics

/ PR Agency: akampion
- Entrepreneur Martin Velasco and Industry Expert Scott R. Ward Appointed as Board Members -

Lausanne, Switzerland, March 20, 2012 – Aleva Neurotherapeutics, a company developing next-generation implants for Deep Brain Stimulation (DBS) in major neurological indications such as Parkinson´s disease or depression, today announced the expansion of its Board of Directors. Martin Velasco, a seasoned entrepreneur and business angel, and Scott R. Ward, advisor and former Senior Vice President and President, CardioVascular at Medtronic, were appointed as members of the Board of Directors.

Martin Velasco is an entrepreneur and business angel with extensive experience in the IT, medical and biotech industries. He is the co-founder and former CEO of SpeedLingua, a company developing and marketing solutions for language learning. In addition, he has co-founded various technology companies and serves as a board member of several high-tech and healthcare firms including Anecova, Sumerian, AC-Immune, Cocomore, and Aridhia. Moreover, Martin Velasco is Vice President of the Board of the Foundation EPFL+ and Vice Chairman of the European Tech Tour Association. He has received numerous prestigious awards for his activities as a business angel.

Scott R. Ward is President of Raymond Holdings, LLC, a firm focused on the life sciences with activities in venture capital, corporate strategy, and transactional advisory services. From 1981 to 2010, he has held various senior management positions at Medtronic, Inc. with increasing responsibility, including Senior Vice President and President, Vascular and CardioVascular, Senior Vice President and President Neurological, Gastroenterology, Urology and Diabetes, and President Neurological Business. Mr. Ward is Chairman of the Board of MAP Pharmaceuticals, iScience Interventional and Gillette Children's Specialty Healthcare. He also serves on the Board of Creganna-Tactx Medical, Respircardia Inc., and Surmodics, Inc.

André Mercanzini, co-founder and Chief Technology Officer of Aleva Neurotherapeutics, has stepped down as a board member of Aleva. The founders have elected Scott Ward as their representative. Markus Hosang of Biomedinvest AG and Juerg Eckhardt of Bellevue Asset Management AG continue to serve as members of the Board of Directors, which is chaired by Oern Stuge, MD. Mr. Stuge has a long-standing management track record with healthcare companies such as Medtronic Inc. and Abbott Laboratories Inc.

“We very much welcome Martin and Scott as board members of Aleva,” said Oern Stuge, Chairman of Aleva’s Board of Directors. “Martin´s invaluable experience as an entrepreneur and business angel makes him a very good representative of Aleva’s private investors. Scott´s extensive industry network and medtech experience will add competence to an already strong board, in addition to allowing for broader visibility of Aleva and its microDBS™ technology.”

“We are very pleased to have the opportunity to work with Martin and Scott,” added Jean-Pierre Rosat, CEO of Aleva Neurotherapeutics. “Our goal is to further advance our next-generation neurostimulation devices for Deep Brain Stimulation (DBS) therapy. We are confident that Martin and Scott will significantly contribute to successfully positioning our products with potential partners.”


Media Inquiries:

Dr. Ludger Wess / Ines-Regina Buth

Tel. +49 40 88165964 / +49 30 2363 2768

About Aleva Neurotherapeutics:
Aleva Neurotherapeutics develops next-generation neurostimulation technologies and devices for Deep Brain Stimulation (DBS) therapy. Its solutions are designed to be more versatile, more precise and more efficient than currently available DBS approaches while causing fewer side effects and complications. Based on its proprietary microDBS™ technology, Aleva develops three novel, brain stimulating products with different properties. The first, called directSTIM™, is an intelligent electrode compatible with existing DBS systems; the second, called spiderSTIM™, is a full solution for both intra-surgical and long-term therapeutic use; and the third named cortiSTIM™ is a device for cortical stimulation. All of Aleva’s products are fully compatible with existing DBS technologies and devices.
The company is a spin-off from the Ecole Polytechnique Fédérale de Lausanne (EPFL) Microsystems Laboratory of Prof. Philippe Renaud. In August 2011, Aleva Neurotherapeutics raised a Series A round of financing totaling EUR 9.5 million from a group of renowned investors, among them BioMedInvest AG, BB Biotech Ventures LP, Initiative Capital Romandie and selected private investors.

Aleva Neurotherapeutics
Jean-Pierre Rosat, PhD
PSE-D, EPFL Campus
CH-1015 Lausanne

Tel.: + 41 79 301 58 73

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