Cresskill, NJ. Vascular Therapies, a biotechnology company focused on improving outcomes for patients with advanced kidney disease today announced the appointment of John McDermott as the Company’s Chief Executive Officer.
Bob Croce, Chairman of the Board of Directors of Vascular Therapies, Inc. commented “We are very pleased to welcome John as our Chief Executive Officer. John has nearly 30 years of experience in the vascular industry and has led the development and successful commercialization of multiple ground-breaking new technologies. Dr. Sriram Iyer, founder of Vascular Therapies, has done an excellent job leading the Company since inception and will continue as its Chief Scientific Officer.”
John McDermott said “I am honored to be named as Chief Executive Officer of Vascular Therapies. The company is developing a promising new local vascular drug-delivery technology intended to improve outcomes for patients with advanced kidney disease I look forward to working with the team at Vascular Therapies and collaborating with physicians to provide this important new therapy to patients worldwide.”
Mr. McDermott, brings to Vascular Therapies nearly 30 years of executive leadership experience in vascular technologies. Previously he was the CEO of Endologix, a developer of aortic stent grafts. Prior to Endologix, John was the President of Bard Peripheral Vascular, a division of C.R. Bard (now owned by Beckton Dickenson). Before Bard Peripheral Vascular, John was the Chief Operating Officer at IMPRA, a developer and manufacturer of vascular grafts.
About Vascular Therapies(www.vasculartx.com): Vascular Therapies, Inc. ("VT") a privately‑held, clinical stage biotechnology company is developing a patented sirolimus formulation for local, perivascular drug delivery. The goal of this therapeutic approach is to address the important unmet medical need of vascular anastomosis failure. This investigational therapy is currently being evaluated in a Phase 3 randomized clinical trial which is being performed under a Special Protocol Assessment (SPA). The drug development program has received Fast Track status from the FDA and sirolimus has Orphan Drug status for the dialysis vascular access indications in the U.S. and E.U.