Sedana Medical AB (publ) (SEDANA: FN Stockholm) today announced that Michael Ryan is retiring and therefore is resigning from the company’s board of directors.
"I have now decided to retire and move to Portugal. As a result, I have decided it is a good time for me to leave the board. I have greatly enjoyed the many years I have spent as an executive and on the board and I am confident that Sedana Medical has never been in a better position to bring inhaled sedation to a global standard of care therapy. In connection with the new share issue earlier in October I actually bought an additional 75,000 shares. I also believe this is an opportunity for Sedana Medical to bring new talent onto the board as it pivots to become a pharma / med tech company with the upcoming approval of IsoConDa," said Michael Ryan.
Michael Ryan has been a member of the board since Sedana Medical was founded in 2005 and was the company’s CEO from 2011 until 2017. Together with Ron Farrell, Michael Ryan led the Irish consortium that together with some of the current main owners (Ola Magnusson, Sten Gibeck, Bengt Julander and Mikael Bender) bought the AnaConDa-technology from Teleflex Inc in 2005.
"With his vast experience from the med tech market in general and from the AnaConDa technology in particular Mike has made a tremendous contribution to the company as CEO and as a board member for many years. I am sad to see him leave. The nomination committee has started the search for a replacement," said Thomas Eklund, Chairman of the Board of Sedana Medical.
For additional information, please contact:
Christer Ahlberg, CEO, Sedana Medical AB
Mobile: +46 70 675 33 30
Sedana Medical is listed on Nasdaq First North Growth Market in Stockholm.
The company’s Certified Adviser is Erik Penser Bank, +46 8 463 83 00, email@example.com.
The information was released for public disclosure, through the agency of the contact person above, on November 12, 2019 at 21:00 p.m. (CET).
About Sedana Medical’s market
Sedana Medical’s market consists primarily of sedation of mechanically ventilated intensive care patients. The market for sedation of mechanically ventilated intensive care patients today consists of established drugs that are administered intravenously. There are several challenges for both patients and care givers with today’s intravenous treatment that are solved by inhaled sedation. Today, it is estimated that between seven and eight million patients are sedated due to mechanical ventilation in intensive care globally, evenly distributed between the US, Europe and Asia. These patients are sedated on average three to four days. Sedana Medical estimates the total market potential to SEK 20-30 billion.
Sedana Medical AB (publ) has developed and sells the medical device AnaConDa, for the administration of volatile anaesthetics to mechanically ventilated patients. A major clinical registration study is currently ongoing to obtain market approval in Europe for inhalation sedation in intensive care units with the pharmaceutical IsoConDa® (isoflurane).
Sedana Medical has direct sales in the Nordic countries, Germany, France, Great Britain and Spain as well as external distributors in the rest of Europe, Canada, Australia, Japan and South Korea. The company headquarters are based in Stockholm, Sweden with R&D operations in Ireland.
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