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Evalve Expands Executive Leadership Team
Date:10/9/2008

Company Prepares for Increased Sales and Marketing Efforts to Accelerate

Global Progress of MitraClip(R) System

MENLO PARK, Calif., Oct. 9 /PRNewswire/ -- Evalve, Inc., the leader in the development of devices for the percutaneous repair of cardiac valves, has expanded its sales and marketing executive team with the appointment of Sean Cleary as senior vice president of worldwide sales and marketing and Chris Richardson, as vice president of sales.

"The addition of Sean and Chris to our executive team is purposefully timed with our European market introduction of the MitraClip(R) system for treating patients suffering from the effects of mitral regurgitation," said Ferolyn Powell, president and chief executive officer of Evalve. "Both Sean and Chris have demonstrated track records of successfully establishing and expanding markets within the field of cardiology and building talented and committed sales teams who focus on the customer and achieve sales goals. This team possesses deep cardiology experience, global backgrounds and points of view, consistent business success in highly competitive environments, and the passion and intensity required to execute the introduction of this first in class treatment option based on our strong clinical results."

In his role as senior vice president of worldwide sales and marketing, Sean Cleary will take responsibility for Evalve's expansion into the European markets and adoption of the MitraClip system by the worldwide cardiology marketplace. Cleary joins Evalve after a successful tenure with Boston Scientific and Guidant Corporation. Cleary held several senior management positions including vice president of global marketing for cardiac rhythm management, vice president of human resources for US sales, vice president of US market development and most recently as vice president of cardiac rhythm management sales before joining Evalve.

"I am thrilled to join the Evalve team and eager to take on the responsibility of leading the expansion and growth of Evalve as we begin sales in Europe and gear up for U.S. commercialization," said Cleary. "I look forward to working with Chris and the Evalve team to establish the MitraClip system as a non-surgical treatment of choice for patients suffering from mitral regurgitation."

As vice president of sales, Chris Richardson will report to Cleary and will be responsible for developing the European market for Evalve's first in class therapy in conjunction with preparing for U.S. commercialization. Richardson will focus on driving adoption of the MitraClip system through implementation of education and training programs for physicians. Like Cleary, Richardson joins Evalve from Boston Scientific where he championed regional sales and directed management development for Guidant Corporation (prior to its acquisition by Boston Scientific). Chris most recently was vice president of cardiac rhythm management sales for the southeast area, driving significant market growth and increases in profitability for the company.

About the MitraClip Procedure

Percutaneous mitral repair with Evalve's MitraClip device is performed by physicians in the catheterization laboratory. The heart beats normally during the procedure, and therefore does not require a heart-lung bypass machine. In addition to improving blood flow through the heart, the procedure may also relieve symptoms such as fatigue and shortness of breath that often affect patients with significant MR. After treatment, patients generally recover quickly. The MitraClip device may improve quality of life and may help MR patients avoid or delay surgery, having preserved surgical options (valve repair or replacement) should surgery become necessary.

About Evalve, Inc.

Founded in 1999, Evalve, Inc. -- headquartered in Menlo Park, California -- has developed a proprietary system which enables percutaneous repair of cardiac valves. The company's initial products are intended to reduce the risks, trauma and costs associated with current open, arrested heart surgical options. For more information about Evalve, Inc., and for an animated explanation of the Percutaneous Mitral Repair procedure using the MitraClip device, visit http://www.evalveinc.com. Evalve is the first portfolio company from the medical device company incubator, The Foundry (http://www.thefoundry.com).

The MitraClip System is currently undergoing clinical evaluation in the United States and Canada.

MitraClip and Evalve are registered trademarks of Evalve, Inc.


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SOURCE Evalve, Inc.
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