MAUNA KEA TECHNOLOGIES (EPA:MKEA) Mauna Kea Technologies redefines its commercialization strategy
Transparency directive : regulatory news
07/10/2015 17:51
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Press release
Mauna Kea Technologies redefines its commercialization strategy
* Global indication-driven commercialization via a comprehensive partnering
strategy
* Reduction of operating expenses
* Strengthening of leadership team
Paris, October 7th, 2015 - Mauna Kea Technologies (Euronext: MKEA, FR0010609263,
PEA-PME eligible), inventor of Cellvizio(r), the multi-disciplinary confocal
laser endomicroscopy platform, discloses today its new commercialization
strategy validated by its Board of Directors.
Over the past 4 years, the company has built a solid business foundation and
brand recognition through multiple applications in gastroenterology and has
recently obtained regulatory approvals in new therapeutic areas of major
importance. Mauna Kea's unique Cellvizio platform is now protected by 170 issued
patents worldwide and has generated several hundreds of scientific and medical
publications.
Shift to a partnering commercialization strategy
Mauna Kea is shifting to a broader and more capital-efficient commercialization
strategy and intends to leverage the broad applicability of its unique and
proprietary platform with large-scale partners acting under their own brand with
possible integration of the Cellvizio technology inside their own platforms. The
company is currently actively developing such partnerships in interventional
endoscopy, surgical oncology and interventional radiology, three market segments
in which the Cellvizio technology complements and adds significant value to the
existing equipment offerings.
Reduction of operating expenses
This action complements previously announced corporate initiatives to reduce
operating expenses and reflects, in part, an acknowledgement that the Company's
current selling model lacks the scale needed to produce consistent commercial
results. Current trends of the business, including this 2015 third quarter's,
are far from meeting the company's expectations and the company has already
significantly reduced its marketing and sales efforts in markets where the
current selling model cannot yield the appropriate return on investment.
Strengthening of leadership team
In order to fully redefine its new commercialization strategy, to implement its
execution and to pilot the company's transition to a more capital-efficient
organization, Mauna Kea Technologies has considerably strengthened its
leadership team:
- Mauna Kea has retained the services of M. Florian Kemmerich as a Chief
Operating Officer. M. Kemmerich brings more than 20 years of experience in
biotech and medical device startups and larger organizations. M. Kemmerich has
built and repositioned several high performing organizations in the
competitive global marketplace. M. Kemmerich was most recently President of
Olympus Biotech International, after having served President International
for Small Bone Innovations. Previously, M. Kemmerich held multiple positions
including Vice-President for Sales in Latin America for Aesculap, Managing
Director of B. Braun de Mexico, and Director of Marketing for Karl Storz
Endoscopy USA.
- Several months ago, Mauna Kea hired M. Sebastien Cadet as its Global Director
of Marketing and OEM Leader. M. Cadet brings more than 15 years of experience
in the fields of surgical instrumentation and OEM marketing, having held
numerous important positions in one of the key OEM suppliers in this field.
M. Cadet has been based in Orlando, Florida, for the past 15 years and has
extensive knowledge of the industry and the markets addressed by the company.
The company will present its detailed strategic roadmap before year-end and
plans to hold analyst and investors days in Paris and New York.
Next press release: Q3 2015 sales on October 15, 2015 (after close of trading)
About Mauna Kea Technologies
Mauna Kea Technologies is a global medical device company focused on protecting
patients' lives while enabling physicians and surgeons to make better decisions
thanks to direct visualization at the cellular level. The Company's flagship
product, Cellvizio, has received clearance to sell a wide range of applications
in more than 40 countries, including the United States, Europe, Japan, China,
Canada, Brazil and Mexico. For more information on Mauna Kea Technologies, visit
www.maunakeatech.com
Mauna Kea Technologies
Eric Cohen
Vice President Finance
Tel: +33 (0)1 70 08 09 70
investor-vpf@maunakeatech.com
France and Europe
NewCap - Investor Relations | Strategic Communication
Florent Alba/Pierre Laurent
Tel: +33 (0)1 44 71 94 94
maunakea@newcap.eu