SIOUX FALLS, S.D.--(BUSINESS WIRE)--Myles D. Greenberg, MD, was named President and CEO of Alucent Medical, Inc., a new company licensed to develop a novel drug/device combination therapy for the treatment of peripheral vascular disease (PVD). The treatment, Natural Vascular Scaffolding (NVS)TM, has recently gained FDA approval to move forward with Phase 1 human clinical trials.
Alucent is owned by the research and development arm of Avera Health, based in Sioux Falls, S.D.
NVS combines percutaneous balloon angioplasty (PTA) with a novel drug that builds natural scaffolding to keep the vessel open, potentially replacing the need for a stent. Current therapies such as PTA and implanted stents can result in recurrence of the vascular lesion, requiring the need for retreatment. Avera scientists developed this product under the leadership of Ron Utecht, PhD.
“NVS Therapy has the potential to dramatically improve the care of patients suffering from debilitating peripheral vascular disease, and I look forward to being a part of the team advancing this groundbreaking technology into patient treatment,” Dr. Greenberg said.
Dr. Greenberg brings to Alucent Medical, Inc. extensive experience in life-sciences related business and new product development, having served as a partner in early-stage health care venture capital firms HealthInvest Equity Partners and CHL Medical Partners based in Stamford, Conn., and as an active director of many companies developing novel medical devices, biopharmaceuticals and health care technologies.
Prior to his career in venture capital, Dr. Greenberg was an academic emergency physician and hospital administrator at Beth Israel Deaconess Medical Center/Harvard Medical School in Boston, Mass. He holds a bachelor of applied science degree from the University of Pennsylvania School of Engineering and Applied Science; doctor of medicine degree from Yale University School of Medicine; and master of business administration from Harvard University Graduate School of Business Administration.
“Dr. Greenberg’s experience and knowledge of the biotechnology landscape will guide us through the crucial next steps of development,” said Dave Kapaska, DO, Regional President and CEO of Avera McKennan Hospital & University Health Center. “Avera has been supporting and investing in the research and development of this product since its inception, and with his leadership, we can realize its potential.”
“With his years of experience helping early-stage companies develop new medical technologies, Dr. Greenberg is the right person to move Alucent forward toward successful clinical trials and eventual marketing,” said James Corbett, Chairman of the Alucent Board of Directors. “We look forward to the successful development of this important new therapy for patients.”
About Alucent Medical, Inc.
Alucent Medical Inc. is a privately held biotechnology company headquartered in Salt Lake City, Utah. Alucent Medical was founded by Avera Health to develop and market Natural Vascular Scaffolding (NVS), a novel combination drug-device product for the treatment of patients suffering from peripheral vascular disease. Alucent Medical is currently conducting U.S. phase 1 human clinical trials. Visit alucentmedical.com for more information.
About Avera Health
The Avera Health system, based in Sioux Falls, S.D., has over 17,000 employees and physicians, serving more than 300 locations and 100 communities in a five-state region. Our ministry, our people and our superior value distinguish Avera. We carry on the health care legacy of the Benedictine and Presentation Sisters, delivering care in an environment guided by our values of compassion, hospitality and stewardship. For more information about Avera, see our website at Avera.org.