NEW HOPE, Pa., March 26, 2024 (GLOBE NEWSWIRE) — Orchestra BioMed Holdings, Inc. (Nasdaq: OBIO, a biomedical company accelerating high-impact technologies to patients through risk-reward sharing partnerships, today announced the appointment of David Pacitti to its Board of Directors, effective as of March 26, 2024. Mr. Pacitti is currently the President of Siemens Medical Solutions USA, Inc. and Head of the Americas, Siemens Healthineers. Prior to joining Siemens Healthineers, he was Division Vice President of U.S. Commercial Operations, Sales, and Marketing at Abbott Vascular, overseeing the company’s business in North America. As a member of the Senior Executive Staff, he worked with the CEO, CFO, and Research & Development team on business development initiatives and played pivotal roles in key launches, including Abbott Vascular’s first drug-eluting stent and structural heart franchise.
“It’s an honor to welcome Dave to the Orchestra BioMed Board where we expect to benefit from his wealth of experience in driving the adoption of transformational device therapies and procedural imaging modalities,” said David Hochman, chairman, chief executive officer and founder of Orchestra BioMed. “Dave is a big thinker who believes in the power of partnerships and novel, out-of-the-box strategic collaboration to bring new technologies to patients, improve healthcare delivery and drive better outcomes. His extensive experience and broad network in interventional cardiology and cardiac rhythm management will add further strength to our knowledge and connections in those large, established markets that are core to our current pipeline. Having previously served as a strategic advisor, Dave is familiar with our strategy, differentiated business model and pipeline. We believe he can help guide the work we are doing with our existing programs and partnerships while also helping us identify and execute on new opportunities to leverage our partnership-enabled business model.”
Mr. Pacitti commented, “I am thrilled to join the Orchestra BioMed Board and continue working with what I know to be an exceptional leadership team. AVIM therapy and Virtue SAB represent the kind of high-impact, transformational device-based therapies that I have helped commercialize my entire career. Moreover, I believe the Company’s novel, partnership driven business model, exemplified by the strategic collaborations in place with Medtronic and Terumo, is timely and necessary in an increasingly difficult environment for medical device innovation. I look forward to contributing my perspective to help Orchestra BioMed realize the full potential of its cardiovascular pipeline, strategic partnerships and differentiated business model.”
About Orchestra BioMed
Orchestra BioMed (Nasdaq: OBIO) is a biomedical innovation company accelerating high-impact technologies to patients through risk-reward sharing partnerships with leading medical device companies. Orchestra BioMed’s partnership-enabled business model focuses on forging strategic collaborations with leading medical device companies to drive successful global commercialization of products it develops. Orchestra BioMed’s lead product candidate is atrioventricular interval modulation (AVIM) therapy (also known as BackBeat Cardiac Neuromodulation Therapy (CNT™)) for the treatment of hypertension, a significant risk factor for death worldwide. Orchestra BioMed is also developing Virtue® Sirolimus AngioInfusion™ Balloon (SAB) for the treatment of atherosclerotic artery disease, the leading cause of mortality worldwide. Orchestra BioMed has a strategic collaboration with Medtronic, one of the largest medical device companies in the world, for development and commercialization of AVIM therapy for the treatment of hypertension in pacemaker-indicated patients, and a strategic partnership with Terumo, a global leader in medical technology, for development and commercialization of Virtue SAB for the treatment of artery disease. Orchestra BioMed has additional product candidates and plans to potentially expand its product pipeline through acquisitions, strategic collaborations, licensing and organic development. For further information about Orchestra BioMed, please visit www.orchestrabiomed.com, and follow us on LinkedIn.
