Ms. Yanchik Connealy will serve as the Audit Committee Chair, strengthening Orchestra BioMed’s financial reporting capabilities
NEW HOPE, Pa., March 03, 2020 (GLOBE NEWSWIRE) -- Orchestra BioMed, Inc. (“Orchestra BioMed” or the “Company”), a biomedical innovation company providing high-impact solutions for large unmet needs in procedure-based medicine, today announced the addition of experienced biotech executive Ms. Pamela Yanchik Connealy to its Board of Directors as Audit Committee chair. Ms. Connealy currently serves as chief financial officer of Immunovant (NASDAQ: IMVT) and brings over 30 years of experience in biotech and technology business operations, including driving operational, financial and human resources excellence, establishing operations to manage pipeline and leading biotech product launches.
“We welcome Pam to our board during these exciting times for Orchestra BioMed,” said David Hochman, chairman, CEO and founder of Orchestra BioMed. “She is an accomplished biotech executive and strategic leader with a successful track record of outstanding financial, operations and HR management. She has made an important impact at each of the organizations in which she was involved, from Genentech to Kiva to the Bill & Melinda Gates Foundation, and most recently, to Immunovant. Her experience will be valuable to the Company as we grow and strengthen our organization, cultivate additional strategic partnerships with global market leaders, continue to advance and expand our product pipeline, and achieve major clinical, regulatory and commercial milestones. We look forward to her guidance as a member of our board and chair of our Audit Committee.”
Ms. Connealy has a wealth of leadership experience in biotech finance, business operations, strategic planning and management. She is currently the chief financial officer of Immunovant, a biotech company focused on transformative therapies for patients with autoimmune diseases. At Immunovant, Ms. Connealy leads finance, investor relations and human resources. She also serves as an advisor to Perfuse Therapeutics, an early stage company focused on ophthalmic diseases. Prior to Immunovant, Ms. Connealy held a number of leadership roles including chief financial officer and chief operating officer of Kiva, a San Francisco-based nonprofit organization; global head of talent at the Bill & Melinda Gates Foundation, focused on talent management, compensation, benefits and global mobility; and vice president of business operations at Salesforce. Ms. Connealy also had a long tenure as a corporate officer at Genentech, including CFO of research and development and other key global operational roles.
“I am impressed with Orchestra BioMed’s distinctive partnership-driven business model as well as the Company’s exciting pipeline of high-impact product innovations. The Company’s business model, which leverages internal resources to accelerate products through development while sharing risks and rewards with established commercial market leaders, is a differentiated, forward-thinking approach to medical device innovation and commercialization,” said Ms. Connealy. “I am delighted to join the Company’s Board of Directors and lead the audit committee. I look forward to supporting the Company’s leadership in implementing its strategies to advance Virtue® Sirolimus AngioInfusion™ Balloon for the treatment of artery disease, in partnership with Terumo, and explore potential partnerships for BackBeat Cardiac Neuromodulation Therapy™ and other pipeline products.”
About Orchestra BioMedTM
Orchestra BioMed is a biomedical innovation company providing high-impact solutions for large unmet needs in procedure-based medicine. The Company partners with established market leaders to drive global commercialization of its products, establishing multiple long-term potential revenue streams and supporting further product development. Its current product pipeline was organically developed and features Virtue® Sirolimus AngioInfusion™Balloon (SAB) for the treatment of artery disease, the leading cause of death worldwide, and BackBeat Cardiac Neuromodulation Therapy™ (CNT™) for the treatment of hypertension, the leading contributing risk factor for death worldwide. The Company has a global strategic partnership with Terumo Corporation, one of the world’s largest medical device companies, for the development and commercialization of Virtue SAB. Orchestra BioMed’s business model aims to optimize capital efficiency and cash flow by developing therapies with a high probability of success that fulfill a specific need, fit within current clinical workflow and deliver health-economic value. Orchestra BioMed is led by a multi-disciplinary team with a long track record of successful product development.
Forward-Looking Statements
Some of the statements made herein constitute forward-looking statements. These statements relate to future financial and other performance or anticipated plans and are identified by words such as “may,” “will,” “should,” “expect,” “could,” “scheduled,” “plan,” “intend,” “anticipate,” “believe,” “estimate,” “potential,” “propose” and “continue” or negative variants of such terms. These and similar forward-looking statements discuss the Company’s future expectations and plans. The Company operates in a very competitive and rapidly changing environment. New risks emerge from time to time. Given these risks and uncertainties, the Company cautions against placing undue reliance on these forward-looking statements. These statements are only estimates of future performance. Actual performance or events may not meet such expectations or estimates and may, in fact, differ materially.
Although the Company believes that the expectations reflected in the forward-looking statements made herein are reasonable, the Company cannot and does not guarantee future results, levels of activity, performance or achievements. Moreover, the Company does not assume any responsibility for the accuracy and completeness of such forward-looking statements in the future. The Company does not plan and, subject to applicable law, undertakes no obligation to update any of the forward-looking statements made herein after the date hereof in order to conform such statements to actual results.
Investor Contact:
Bob Yedid
LifeSci Advisors
646-597-6989
Bob@lifesciadvisors.com
Media Contact:
Gloria Gasaatura
LifeSci Communications
646-970-4688
GGasaatura@lifescicomms.com