Pittsburgh, PA (August 10, 2011) Cohera Medical, Inc.®, a rapidly growing medical device company for surgical adhesives, announced today that the Company’s President and Chief Executive Officer, Patrick Daly, has been named a finalist in the annual Ernst & Young Entrepreneur of the Year competition.
The Ernst and Young Entrepreneur of the Year program, which is in its 25th season, recognizes noticeable business leaders and top managers from more than 60 different countries worldwide. The awards program honors entrepreneurs who demonstrate excellence and extraordinary success in such areas as innovation, financial performance, and personal commitment to their businesses and communities.
“It’s an honor to be considered for this award,” said Mr. Daly. “This nomination reflects the dedication and efforts of the entire Cohera Medical team as we work to develop and commercialize strong, safe tissue adhesives that improve patient care.”
Under Mr. Daly’s leadership, Cohera Medical has raised over $41M since the company was formed and has completed initial clinical trials in Europe for its lead product, TissuGlu® Surgical Adhesive. This product, and additional products in development, are based on the Company’s proprietary adhesive technology platform. The company is awaiting European regulatory approval for the use of TissuGlu Surgical Adhesive for large flap plastic surgery procedures and anticipates initiating a larger human clinical trial in the U.S. in 2012.
About Cohera Medical
Cohera Medical, Inc. is a rapidly growing medical device company that is developing a revolutionary line of surgical adhesives. Cohera Medical’s products are based on a unique chemical design that is purely synthetic, easy-to-use, biocompatible and fully resorbable.
The company’s lead product in development, TissuGlu Surgical Adhesive, is designed to reduce fluid accumulation and the need for surgical drains in patients undergoing abdominoplasty (tummy tuck) and other plastic procedures that require the creation of large planar flaps of tissue. Cohera Medical is also developing surgical adhesives for use as bowel sealants, for hernia mesh fixation and for small bone fixation. TissuGlu Surgical Adhesive and the other Cohera products are currently indicated for investigational use only and have not yet been approved for medical use by the Food and Drug Administration (FDA) in the U.S. or in any other market.
For more information, visit www.coheramed.com.
Certain statements made throughout this press release that are not historical facts contain forward-looking statements regarding the Company’s future plans, objectives and expected performance. Any such forward-looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties and, therefore, there can be no assurance that actual results may not differ materially from those expressed or implied by such forward-looking statements.
Vice President of Finance and CFO
Cohera Medical, Inc.