Appoints proven atrial fibrillation medical
technology leader Burke T. Barrett as President and Chief Executive
Officer
Former President and Chief Executive Officer
Kevin Danahy appointed as Chief Commercial Officer
Pulse Biosciences, Inc. (Nasdaq: PLSE), a company leveraging its
novel and proprietary CellFX® Nanosecond Pulsed Field Ablation™
(nsPFA™) technology (“Pulse”), today announced enhancements to its
executive leadership team to support its next pivotal phase of
growth.
Proven atrial fibrillation medical technology leader Burke T.
Barrett has been appointed President and Chief Executive Officer
effective immediately. Concurrently, the Company announced the
appointment of Kevin Danahy, former President and Chief Executive
Officer, as Chief Commercial Officer. Mr. Danahy will now focus his
full time leading the pilot launch of the recently FDA cleared
CellFX nsPFA Percutaneous Electrode System.
“Burke is a very talented executive, who has demonstrated strong
leadership and operational acumen throughout his medical device
career. With Pulse’s focus on bringing the patient and physician
friendly benefits of Nanosecond Pulse Field Ablation into
electrophysiology and cardiac surgery, we are thrilled to have
someone with Burke’s industry stature and expertise lead team
Pulse,” said Robert W. Duggan, Executive Chairman of Pulse
Biosciences. “Together with Burke’s expertise and Kevin leading as
Chief Commercial Officer, Pulse Biosciences is positioned to unlock
the full potential of our proprietarily designed and engineered
CellFX nsPFA energy delivery system and its three novel proprietary
end-effector devices.”
Mr. Barrett is a hands-on leader and executive with more than 35
years of experience building teams that bring novel, complex
medical devices from concept, through design validation, clinical
studies, regulatory approvals, and manufacturing scale-up to
commercialization. During his eighteen years at CardioFocus, Inc.,
Burke held a number of positions of increasing responsibility and
was part of the team that built a pioneering electrophysiology
ablation device and a global commercial company, departing as CEO
and President. Previously, he was part of the teams that
successfully took two companies public, Biofield Corp. and
Cyberkinetics Neurotechnology Systems, Inc., and has been an
officer of two public companies – Cyberonics, Inc., as Vice
President of Business and Technology Development, and
Cyberkinetics, as Vice President of Clinical Operations. Mr.
Barrett was also an active member of the FDA’s Circulatory System
Medical Devices Advisory Panel for four years. Currently, he sits
on the Board of Directors of VDI Technologies. Mr. Barrett holds
Bachelor’s degrees in Chemistry and Chemical Engineering from
Syracuse University and a Masters in Business Administration from
Kennesaw State University.
“Joining Team Pulse at this important time for the Company
represents a unique and exciting opportunity to make a material
difference for the betterment of patients, physicians, and care
givers,” added Mr. Barrett. “I’ve spent the majority of my career
working closely with electrophysiologists and introducing them to
novel technologies, and I believe that CellFX nsPFA energy has the
potential to advance the standard of care for the treatment of
atrial fibrillation and additional disease states. The preclinical
and initial clinical data provides a solid foundation to build
upon, as we continue to seek regulatory approvals in the United
States and other parts of the world. I look forward to working
closely with the talented executive team and Board of Directors as
Pulse enters this next phase of growth.”
“It is an honor to be a key team member in leading Pulse
Biosciences into this iconic and historic opportunity. I look
forward to working closely with Burke in both learning from his
vast experience as well as sharing my knowledge and experience with
him as Team Pulse Biosciences launches our novel CellFX nsPFA
Percutaneous Electrode System and achieves meaningful progress
toward commercial opportunities in cardiac ablation,” said Kevin
Danahy.
Inducement Grants
In connection with his appointment, the Company granted Mr.
Barrett options to purchase 1,400,000 shares of the Company’s
common stock, in aggregate, at an exercise price equal to $7.45 per
share, the closing price of the Company’s common stock on May 10,
2024, the last trading day preceding Mr. Barrett’s employment start
date and date of grant. These awards were approved by Pulse’s Board
of Directors and granted under its 2017 Inducement Equity Incentive
Plan, as amended to date, as an inducement material to Mr. Barrett
entering into employment with Pulse, in accordance with Nasdaq
Listing Rule 5635(c)(4). Subject to Mr. Barrett being continuously
employed by the Company through each applicable vesting date, half
of the option shares will vest over four years, with 175,000 shares
subject to the options vesting on the first four anniversaries of
Mr. Barrett’s employment start date, and half of the options shares
will vest upon the achievement of market capitalization milestones
for the Company ranging from $1 billion to $4 billion. The Company
is providing this information in accordance with Nasdaq Listing
Rule 5635(c)(4).
About Pulse Biosciences®
Pulse Biosciences is a novel bioelectric medicine company
committed to health innovation that has the potential to improve
the quality of life for patients. The Company’s proprietary CellFX®
nsPFA™ technology delivers nanosecond pulses of electrical energy
to non-thermally clear cells while sparing adjacent noncellular
tissue. The Company is actively pursuing the development of its
CellFX nsPFA technology for use in the treatment of atrial
fibrillation and in a select few other markets where it could have
a profound positive impact on healthcare for both patients and
providers.
Pulse Biosciences, CellFX, Nano-Pulse Stimulation, NPS, nsPFA,
CellFX nsPFA and the stylized logos are among the trademarks and/or
registered trademarks of Pulse Biosciences, Inc. in the United
States and other countries.
Forward-Looking Statements
All statements in this press release that are not historical are
forward-looking statements, including, among other things,
statements relating to the effectiveness of the Company’s CellFX
nsPFA technology and CellFX System to non-thermally clear cells
while sparing adjacent non-cellular tissue, statements concerning
the Company’s management team and whether they can unlock the full
potential of the Company’s proprietarily designed and engineered
CellFX nsPFA energy delivery system and its three novel proprietary
end-effector devices, expected product development efforts and
plans to sell products commercially and grow the Company,
statements concerning the Company’s future fundraising efforts and
whether those efforts will be successful and allow the Company to
continue current operations as planned, statements concerning early
clinical successes and whether they are predictive of the safety
and efficacy of any medical device, and the Company’s expectations,
whether stated or implied, regarding whether the Company’s CellFX
nsPFA technology will become a disruptive and durable treatment
option for treating any medical condition, and other future events.
These statements are not historical facts but rather are based on
Pulse Biosciences’ current expectations, estimates, and projections
regarding Pulse Biosciences’ business, operations and other similar
or related factors. Words such as “may,” “will,” “could,” “would,”
“should,” “anticipate,” “predict,” “potential,” “continue,”
“expects,” “intends,” “plans,” “projects,” “believes,” “estimates,”
and other similar or related expressions are used to identify these
forward-looking statements, although not all forward-looking
statements contain these words. You should not place undue reliance
on forward-looking statements because they involve known and
unknown risks, uncertainties, and assumptions that are difficult or
impossible to predict and, in some cases, beyond Pulse Biosciences’
control. Actual results may differ materially from those in the
forward-looking statements as a result of a number of factors,
including those described in Pulse Biosciences’ filings with the
Securities and Exchange Commission. Pulse Biosciences undertakes no
obligation to revise or update information in this release to
reflect events or circumstances in the future, even if new
information becomes available.
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version on businesswire.com: https://www.businesswire.com/news/home/20240514968974/en/
Investor Contacts: Pulse
Biosciences, Inc. Burke T. Barrett, President and CEO
IR@pulsebiosciences.com
or
Gilmartin Group Philip Trip Taylor 415.937.5406
philip@gilmartinir.com
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