The Company will be repositioning itself as a biopharmaceutical company focused on the acquisition, development, and commercialization of pharmaceuticals and devices designed to prevent and treat serious conditions arising in the hospital and adjacent clinical settings. It will be principally focused on delivering solutions to those wards in which the care pathway is burdened by high morbidity, mortality, and cost. The initial goal is to market the first-in-class in situproduct for the prevention of surgical site infections in abdominal surgeries.
The Company has appointed Michael K. Handley as Executive Chairman of the Board to help facilitate this new direction. He is a successful life science executive responsible for 17 product approvals and commercial launches. Currently, he serves as Chief Executive Officer and Director of CHD Bioscience Inc. Previously, he was Senior VP at Vessix Vascular (sold to BSX for $435M); Global Head, Regulatory Affairs and Product Integration at Acclarent (acquired by J&J for $785M) and Chief Compliance Officer and VP of global regulatory affairs at Spectranetics Corporation.
âThis opportunity was brought to us at a critical time when solutions are being demanded by the medical industry to treat diseases and infections such as MRSA. Our vision is to become a leading pharmaceutical company by developing and delivering solutions that address medical complications in acute care. Michael Handley is the right person to implement this vision. His background and commitment to the medical field will help lead this company to success.â stated Jose Delgado, CEO of Kasten, Inc.
Forward-Looking Statements – This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to risks and uncertainties that could cause future results to differ materially from the forward-looking statements. You should consider these factors in evaluating the statements herein, and not rely on such statements. The forward-looking statements in this release are made as of the date hereof and Kasten, Inc.undertakes no obligation to update such statements.