SAN DIEGO, Feb. 10, 2014 (GLOBE NEWSWIRE) -- REVA Medical, Inc. (ASX:RVA) ("REVA" or the "Company") is pleased to announce that David M. Eisler, Esq., has joined the Company's executive team as Vice President, General Counsel. In this role, he will oversee all corporate and operational legal matters.
Mr. Eisler brings more than ten years of experience providing legal guidance to public companies and clients across a broad array of industries. He spent eight years at DLA Piper LLP, one of the largest global law firms, where he represented and counseled clients in SEC compliance, equity offerings, mergers and acquisitions, and general corporate matters. His work at DLA Piper included representation of REVA during its A$85 million initial public offering on the Australian Securities Exchange, including the corresponding registration with the U.S. Securities and Exchange Commission. Mr. Eisler most recently served as Senior Vice President, General Counsel and Corporate Secretary for The Active Network, Inc., a technology leader in activity & participant management software, where he was key to the Company's successful IPO and subsequent sale to a private equity firm for $1.05 billion.
"We are extremely pleased to bring David in-house as a vital member of executive management," commented Katrina Thompson, REVA's Chief Financial Officer. "His broad legal expertise, international work at Active Network, and strong business acumen will be extremely valuable as REVA continues its transition from a pre-revenue development stage company to a commercial business."
REVA is a development stage medical device company incorporated in Delaware, USA, that is focused on the development and eventual commercialization of its proprietary bioresorbable stent products. The ReZolve® product family, which is in a clinical study phase, combines REVA's proprietary stent design with a proprietary polymer that is metabolized and cleared from the body. REVA's anticipated initial commercial product, the ReZolve2 scaffold, is designed to offer full x-ray visibility, clinically relevant sizing, and a controlled and safe resorption rate. In addition, by early encapsulation of the stent in the artery tissue coupled with the loss of scaffold structure over time, the ReZolve2 scaffold may reduce the incidence of late forming blood clots or otherwise reduce long-term disease progression, potential benefits of bioresorbable scaffolds that have yet to be proven. REVA will require clinical results and regulatory approval before it can begin selling the ReZolve2 scaffold.
This announcement contains or may contain forward-looking statements that are based on management's beliefs, assumptions and expectations and on information currently available to management. All statements that are not statements of historical fact, including those statements that address future operating performance and events or developments that we expect or anticipate will occur in the future, are forward-looking statements, such as those statements regarding our ability to obtain the regulatory approvals required to market our ReZolve® scaffold, our ability to timely and successfully complete our clinical trials, our ability to protect our intellectual property position, our ability to commercialize our products if and when approved, our ability to develop and commercialize new products, and our estimates regarding our capital requirements and financial performance, including profitability. You should not place undue reliance on these forward-looking statements. Although management believes these forward-looking statements are reasonable as and when made, forward-looking statements are subject to a number of risks and uncertainties that may cause our actual results to vary materially from those expressed in the forward-looking statements, including the risks and uncertainties that are described in the "Risk Factors" section of our Annual Report on Form 10-K filed with the United States Securities and Exchange Commission (the "SEC") on February 27, 2013. Any forward-looking statements in this announcement speak only as of the date when made. REVA does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
CONTACT: United States Investor and Media Enquiries: Cheryl Liberatore Director, Investor Relations and Marketing REVA Medical, Inc. +1 858 966-3045 Australia Investor Enquiries: Kim Jacobs Inteq Limited +61 2 9229 2700 Media Enquiries: Rebecca Wilson Buchan Consulting +61 3 9866 4722
Source:REVA Medical, Inc.