MALAKOFF, France--(BUSINESS WIRE)--Regulatory News:
This replaces the announcement made at 6:00 pm CET on June 22, 2021 due to updates to the 2nd paragraph relating to investment from Bernard Sabrier and Unigestion acting on their own behalf and 3rd paragraph relating to Mehdi El Glaoui's investment motivation.
Theraclion Strengthens Its Board of Directors
THERACLION (Paris:ALTHE) (ISIN: FR0010120402; Memo: ALTHE, PEA-PME eligible), an innovative company specializing in ultrasound therapy (using High Intensity Focused Ultrasound or HIFU), announces the arrival of a health specialist, Mehdi El Glaoui. He joins the board of directors and also invests 1.5% of the company's capital.
Two weeks after the announcement that Bernard Sabrier and Unigestion, acting on their own behalf, had crossed thresholds in Theraclion’s shareholding, Mehdi El Glaoui, known for his success in healthtech, decided to invest and join the company's board. "Theraclion offers very interesting development potential. Beyond its technology, which can transform the surgical gesture, the combination of imaging and robotization with artificial intelligence can propel the company much further in terms of treatments and development." states Mehdi El Glaoui.
Mehdi El Glaoui was convinced of the company's value creation. He decided to personally participate in Theraclion's future.
"Mehdi El Glaoui, brings us the expertise and vision to take our company from an innovative medtech model to a truly disruptive healthtech company. Theraclion will then be truly positioned to transform the world of healthcare. Mehdi understands that our ultrasound platform has potential far beyond the treatment of thyroid, breast and varicose veins. The developments he supports, accelerate our innovation for exponential growth." said David Caumartin, CEO of Theraclion.
About Mehdi El Glaoui
Swiss resident since 2008, Mehdi El Glaoui is a Doctor of Pharmacy from the Faculty of Pharmacy of Paris V (1980), Associate Professor of Public Health at the Faculty of Medicine of Liège (2001-2007). He was Chairman and CEO of Cassenne Laboratories (1987-1996) and Wyeth Laboratories (1997-2007). He became Chairman of Louis Dreyfus Commodities in Geneva (2009-2012), then board member as of 2012. In 2011, he founded Majorelle International, a company specialized in the development of pharmaceutical products in Gynecology and Urology. Majorelle International has sold 60% of its French subsidiary Laboratoires Majorelle in 2021 to the American fund EW Healthcare Partners.
Theraclion has developed an innovative echotherapy solution using High Intensity Focused Ultrasound for the treatment of varicose veins, SONOVEIN®. The treatment solution, which obtained CE marking in April 2019, is based on the leading-edge echotherapy treatment expertise developed by Theraclion over years for non-invasive ablation of breast fibroadenomas and thyroid nodules using its ECHOPULSE® solution. Further improvements to the ECHOPULSE technology are the foundation for SONOVEIN to provide the only non-invasive ablation therapy for varicose veins. This procedure allows for treatment without a catheter, chemical injection, or incision. An operating room is not necessary, and the treatment can be performed at a doctor’s offices or in clinics, as well as in hospitals. Venous pathology is widespread worldwide and generates around 5 million treatment procedures per year, according to Millennium research Varicose Vein Device Market Study 2015. Theraclion's technological solutions are based on high-tech ultrasound medical devices that are precise and easy to use for practitioners.
Located in Malakoff, near Paris, Theraclion brings together a team of 25 people, more than half of whom are dedicated to R&D and clinical trials.
Theraclion is listed on Euronext Growth Paris
Eligible for the PEA-PME scheme
Mnemonic: ALTHE - ISIN code: FR0010120402