Cork medtech AventaMed focuses on global scale-up potential

Going global but remaining local, Cork medtech AventaMed has appointed a new US-based CEO.

Cork medical device player AventaMed is accelerating its mission to revolutionise paediatric ear surgery with the appointment of a new US-based president and CEO Keith Jansen.

AventaMed offers an alternative solution to traditional ear tube surgery which is currently performed under general anaesthesia in hospital theatres.

“I am excited to see where the future brings us as we expand into the USA”

AventaMed’s innovative product, the Solo Tympanostomy Tube Device (Solo TTD), enables the quick and simple insertion of ear tubes without general anaesthesia. The procedure is fast and safe, offering parents a new option for their child’s ear tube surgery

Jansen is taking over the reins from Olive O’Driscoll as CEO during an exciting time and will lead AventaMed beyond its current start-up phase and into its growth and commercialisation phase.

Since it was founded in 2013, AventaMed has secured more than €5.2m in funding and this confidence in the company was instrumental in attracting Jansen to his new position.

Going for growth

Under the leadership of O’Driscoll and co-founder John Vaughan, together with their team, board and Clinical Advisors, AventaMed has accomplished great things.

The team worked diligently to develop and validate three products; having its primary patent granted with a further four patents in the pipeline; gained ISO 13485 certification; completed two clinical trials; obtained CE marking for all three products; have treated over 100 patients; and it is now ready to begin clinical trials in the USA to support FDA clearance.

O’Driscoll will now work alongside Keith and the team, by taking an advisory consulting position, while remaining on the Board of AventaMed.

“I am so proud of what we’ve achieved to date in AventaMed, from spinning out of Cork Institute of Technology and becoming an Enterprise Ireland High Potential Start-Up to being commercially available and treating patients in Europe,” O’Driscoll said.

“I am excited to see where the future brings us as we expand into the USA. Our succession team, headed up by Keith Jansen who is based in the US, will focus on the future commercial growth strategies.

“Manufacturing and other key functions will remain in Ireland where we anticipate additional commercial and high-tech positions becoming over the next two years,” O’Driscoll said.

“Keith joins AventaMed having more than 30 years of medical device experience in global healthcare sales, marketing, and general management; and is ideally placed to lead the company through the next phase of commercial growth.”

Jansen began his medical device career at Boston Scientific where he held multiple leadership roles with progressive responsibilities. Keith has extensive start-up and general management experience gained from serving on the senior management team of Cortek, President and CEO at InaVein, LLC, and President and CEO of Vascular Insights. Most recently, Keith was the senior vice-president, International, for the American Heart Association.

Commenting on the company developments, AventaMed chair, Rick Geoffrion said: “Olive, who will remain an integral part of AventaMed’s growth, and the AventaMed team have ensured the company is well-positioned for success in Europe and the USA; and is ready for commercial growth under the leadership of Keith and the existing team of experts.”

Written by John Kennedy (john.kennedy3@boi.com)

Published: 11 August, 2020