Novostia gets new CEO and secures additional funding of CHF 5.6 million

Novostia, a pioneering medical device company focused on developing a revolutionary clinical-stage heart valve prosthesis, today announces a leadership change, consistent with the successful completion of a CHF 5.6 million capital raising to further accelerate the Company’s development efforts and expand its clinical evidence base. The Board of Directors has appointed Ms. Soad El Ghazouani as Chief Executive Officer, effective immediately, succeeding Mr. Alain Barbal, who will join the new Board of Directors.

Appointment of a new Managing Director

With over 25 years of global experience, particularly in developing and commercializing breakthrough innovations in the cardiovascular space, Soad El Ghazouani brings extensive experience and a proven ability to lead innovative companies through rapid development and growth phases. She recently co-founded and served as CEO of T-Heart. Previously, Soad El Ghazouani held several executive and senior management positions in various MedTech companies, from start-ups to multinational corporations. Soad holds an MBA in International Business and a degree in Biomedical Engineering.

“I am honored to join Novostia at such a pivotal time for our company.” The company’s groundbreaking TRIFLO heart valve has already demonstrated immense potential to transform patient care, and I look forward to supporting our talented team as they continue to push the boundaries of innovation and deliver exceptional value to patients, employees and shareholders.”

Successfully raised an additional CHF 5.6 million to finance the clinical phase and bridge the Series B

Novostia is also pleased to announce that it has successfully raised an additional CHF 5.6 million in 2024. The funds will help accelerate the Company’s ongoing development efforts, advance clinical trials and prepare for the next financing round.

This financing reflects investors’ confidence in Novostia’s innovative solutions and the significant progress made in the development and ongoing PILATUS clinical trial of the TRIFLO heart valve, the first results of which were presented at EACTS (European Association for Cardio-Thoracic Surgery) from October 9-12, 2024 in Lisbon, Portugal.

These milestones are a strong endorsement of Novostia’s vision and strategic direction. The Board of Directors firmly believes that this change in leadership, coupled with the fresh capital injection, will ensure Novostia’s continued success.

“We are very grateful to our investors and partners for their unwavering support,” said Alexander Valkenberg, CEO. “The successful capital raising and entry of Soad come at a crucial time for Novostia. We remain committed to our mission of improving patient outcomes and are confident that these developments will bring us closer to that goal.”

About Novostia

Founded in 2017, Novostia is a privately held medical device company based in the Biopôle in Lausanne, Switzerland, developing an innovative artificial heart valve. The company’s proprietary TRIFLO heart valve is currently undergoing human clinical trials. For more information, visit www.novostia.com.

Danger: Novostia technology is an investigational product and is not yet approved for sale.

The source language in which the original text is published is the official and authorized version. Translations are provided for ease of understanding. Only the language version that was originally published is legally binding. Therefore, compare translations with the original language version of the publication.

View original version on businesswire.com:

NOVASIA S.A.

Mrs. Soad El Ghazouani, Managing Director

[email protected]

© Business Wire, Inc.

Disclaimer
This press release is not a document produced by AFP. AFP assumes no responsibility for its contents. If you have any questions, please contact the person/department indicated in the text of the press release.