LOS ANGELES & SEOUL, SOUTH KOREA, December 6, 2022 (GLOBE NEWSWIRE) — Kalos Medical (“Kalos), a developer of advanced medical devices to treat hypertension and cardiovascular disease, today promoted Dr. announced that he will be co-CEO with Dr. Dr. Chang joined Kalos in May 2022 as President and Chief Technology Officer. In addition to his promotion to Co-CEO, Dr. Chan will retain the title of Chief Technology Officer and lead the company’s clinical, regulatory and early commercial initiatives, while Dr. Kim will continue to oversee general corporate operations. increase.
Dr. Chan graduated from the Department of Electrical Engineering at Seoul National University, where he received his Bachelor’s and Master’s degrees in Electrical Engineering. He then completed his master’s degree in biomedical engineering at Reserve University, where he also earned his Ph.D. Research in the field of functional electrical stimulation to restore muscle function in paraplegics. Dr. Chang completed postdoctoral research at the Louis Stokes Cleveland Department of Veterans Affairs Medical Center. He served as his R&D Director for JW Medical, a subsidiary of which he also served as his CEO/President of CorazonX. CorazonX is the company that developed the Washington University-licensed ultrasound-based detection technology for coronary heart disease. Dr. Chang was previously the Director of R&D Emerging Markets at Medtronic Korea and oversaw multinational teams at the He Medtronic Innovation Centers in Korea, Brazil and Turkey. He later became the first CEO and CTO of DeepQure, a medical device company that developed a laparoscopic renal denervation system.
During his tenure at Kalos, Dr. Chang has overseen the ongoing clinical development of Kalos’ DENEX device. This is Korea’s first medical device for treating hypertension using renal denervation. Kalos is currently conducting randomized controlled trials of the DENEX device at his 30 sites in South Korea, including The Catholic University of Korea and Seoul St. Mary’s Hospital. A pivotal data readout from 148 subjects is scheduled for Q2 2023. In parallel, Kalos has started his second large randomized trial at his 20 sites in the European Union (EU), with the first patients already enrolled. Kalos plans to use data from these trials to seek regulatory approval for his DENEX device in South Korea, the EU, and the US.
“Our newly appointed Co-Chief Executive Officer, Dr. Seokjoo Chang, is not only a scientist but also an excellent manager, who will greatly contribute to taking Kalos to new levels of technological and commercial advancement. I guess.
“Dr. Chan is ideally suited to lead the company as it expands globally and completes significant clinical trials and regulatory approvals. Mansoon Hwang, CEO and President of Korea Investment Partners and Director of Karos Medical, said: says so.
Dr. Chan commented: “Many exciting milestones are planned for the next 12 months, and the achievement of important clinical and regulatory results will significantly enhance the company’s reputation. Kalos has an impressive run. We are gathering teams and are excited to continue working with each management team in their new roles.”
Involvement of Checkmate Capital Group
In addition to the promotion of Dr. Chan, Kalos is pleased to announce that it has hired Checkmate Capital Group (“Checkmate”), an international investment group and strategic advisory firm, as its international strategic advisor. Checkmate will provide commercial, regulatory and strategic guidance as Kalos implements its international expansion plans throughout Europe, Asia Pacific and North America.
“We are impressed by Checkmate’s international presence and leadership in the life sciences industry, as well as their significant investment in a diverse portfolio of medical technology companies,” said Dr. Seokjoo Chang, CEO of Kalos. increase.
Checkmate CEO Tom Paschall said: “The renal denervation market is expected to grow rapidly over the next five years. Kalos is one of the best-positioned companies in the space. It has multiple differentiating features that set it apart, including a multi-electrode rapid ablation mechanism combined with a one-size-fits-all design.”
About Kalos Medical
Kalos Medical is a developer of innovative, minimally invasive medical devices using proprietary catheter-based technology. Kalos Medical has developed his DENEX™, a medical device for the treatment of hypertension for renal denervation. The device contains three electrodes that are introduced via a catheter into the rental artery and deliver radiofrequency energy to the artery wall, thereby deactivating the renal nerves. Its effect is to reduce high blood pressure. Kalos Medical is currently conducting clinical trials in South Korea and Europe.
For more information, please visit www.kalosmedical.com.
About Checkmate Capital
Checkmate Capital is an investment and strategic advisory group that manages family office assets with a global commercial and industry-specific network. Checkmate Capital’s main investment areas are biotechnology, life sciences, medical technology, agricultural technology, energy technology and various other technologies. Our team leverages an international group of strategic partners, business talent and resources to provide seasoned expertise in our focus industries. For more information, please visit www.checkmatecapital.net.
contact address:
Dr. Byung Park, Chief Strategy Officer, Kalos Medical (byung.park@kalosmedical.com) or
Seungki Min, Kalos Medical, Business Development Director (seungki.min@kalosmedical.com)
Jay Ryu, Managing Director of Checkmate Capital Group (jay@checkmatecapital.net)
