Paragonix expands board to support rapid commercial growth in the heart transplant market
CAMBRIDGE, MASSACHUSETTS, June 22, 2020- Paragonix Technologies, Inc. a commercial stage company and leader in organ preservation and transport technology, today announced that Alexander K. Arrow, MD, CFA has joined its Board of Directors.
Dr. Arrow is a medical technology executive with 24 years of experience in management and finance roles at small and medium-size companies. He is the CEO of Zelegent, Inc., which develops, manufactures, and sells minimally-invasive tools for otolaryngologists. He is also the CFO of Carlsmed, Inc., a spinal implant manufacturer, and Protagenic Therapeutics, Inc., a biotechnology company developing neuro-active peptides. He previously served as the President & COO of Biolase, Inc. (Nasdaq: BIOL), and the CFO of Arstasis, Inc., a cardiovascular device manufacturer. Before his operating roles, Dr. Arrow spent nine years in equity research at three Wall Street firms, the last five years as the head of med tech research at Lazard, Ltd.
Bill Edelman, Chairman of the Board and CEO noted, “We are thrilled to have Dr. Arrow join the Paragonix Board, who brings a truly unique perspective with his background as a physician, financial analyst, and life sciences corporate leader. Very few individuals have led this industry from so many vantage points, and we look forward to Dr. Arrow’s contribution to the continued growth of Paragonix as a market leader in transplantation.” Mr. Edelman continued, “With the addition of Dr. Arrow to the Board, we note the retirement of Charles Hanor, who we thank for his contribution to the Board.”
“Some medical devices are incremental improvements compared to the standard of care, while others are leaps forward that make a measurable difference in patient outcomes,” said Dr. Arrow. “I prefer to be involved with the latter — with devices that inspire us and generate enthusiasm from all who see them. That’s why I’m happy to be joining the Board of Paragonix.”
About Paragonix Technologies
Paragonix Technologies designs, produces, and sells organ preservation and transport devices that safeguard organs during the journey between donor and recipient patients. Our award-winning devices mitigate risk in an otherwise high stakes environment. The Paragonix SherpaPak systems incorporate clinically proven and medically trusted cold preservation techniques in a novel suspension system to provide unprecedented physical and thermal protection. Paragonix SherpaPak™ CTS is the only commercially available FDA cleared and CE marked transport device for heart preservation. Paragonix is also developing transport devices for the lung, pancreas, kidney and liver designed to improve donor organ quality and extend donor organ transport time.