Company Appoints Dr. Maky Zanganeh to Company Board of Directors
BURLINGAME, Calif.--(BUSINESS WIRE)--Feb. 10, 2017--
Pulse Biosciences, Inc. (Nasdaq:PLSE), a medical technology company
developing a proprietary therapeutic tissue treatment platform based on
Nano-Pulse Stimulation (NPS), today announced that Robert “Bob” Duggan
and Maky Zanganeh, the former CEO and COO of Pharmacyclics Inc. (now
Pharmacyclics LLC, a wholly owned subsidiary of AbbVie Inc.),
respectively, have purchased a combined interest of 17.1% of Pulse
Biosciences’ outstanding common stock of which $10 million of the stock
was purchased in transactions this week. The transactions included $5
million, or 819,673 shares, purchased from the Company and $5
million, or 819,672 shares, purchased from existing shareholders that
have been released from a one year lock-up restriction from the date of
the Company’s initial public offering. These shares are in addition to
771,799 shares purchased on the open market prior to these
transactions. Dr. Zanganeh has also been appointed to the Company’s
Board of Directors.
“Along with a team of qualified scientists, we have studied Pulse
Biosciences’ core technology, strength of leadership and management,
patent portfolio, breadth of engineering and research talent, as well as
our perceived long-term sense of the robust potential of NPS technology
in healthcare,” said Mr. Duggan and Dr. Zanganeh in a joint statement.
They continued, “We are impressed by what we have seen and with the
experience, ability and enthusiasm of the Pulse Biosciences team. We
have previously worked closely with several members of the Pulse
Biosciences management team, including Darrin Uecker, President and CEO,
and Dave Danitz and Edison Manuel, engineering and operations
executives, each of whom were critical to our previous success at
Computer Motion, Inc. (now part of Intuitive Surgical, Inc.) in
launching computer assisted robotics in the field of human surgery. We
look forward to working with the Pulse Biosciences team on this
important technology that we believe can impact healthcare in a
meaningful and sustainable manner for the significant betterment of all.”
“I have known Bob and Maky for over 20 years and have the utmost respect
for their strategic, financial and operational expertise and vision,”
said Mr. Uecker. “We are thrilled to have gained their support in our
mission at Pulse Biosciences and we look forward to having Maky on the
board of Pulse Biosciences to help us continue to build upon our
leadership position in developing, and eventually commercializing, this
novel technology.”
Following these transactions, Mr. Duggan owns a total of 2,131,735
shares, or 15.1% of the Company’s outstanding common stock, and Dr.
Zanganeh owns a total of 279,409 shares, or 2.0% of the Company’s
outstanding common stock. Details of the transactions can be found in
forms to be filed with the SEC.
The shares of Pulse Biosciences’ common stock issued in connection with
the private placement have not been registered under the Securities Act
of 1933, as amended (the "Securities Act"). Accordingly, these
securities may not be offered or sold in the United States except
pursuant to an effective registration statement or an applicable
exemption from the registration requirements of the Securities Act. This
press release shall not constitute an offer to sell or the solicitation
of an offer to buy Pulse Biosciences’ common stock.
Mr. Duggan has been a private investor in many healthcare companies for
more than 30 years, and is the former CEO and Chairman of Pharmacyclics.
Pharmacyclics is a biopharmaceutical company focused on the development
of novel therapies for the treatment of cancer and immune-mediated
diseases that was acquired by AbbVie Inc. in 2015 for $21 billion. That
same year, Mr. Duggan was recognized as one of the top 20 most
influential executives in the biopharmaceutical field. Prior to
Pharmacyclics, Mr. Duggan was the Chairman and CEO at Computer Motion,
Inc., a pioneer in surgical robotics that was acquired by Intuitive
Surgical, Inc. in 2003.
Pulse Biosciences Names Dr. Maky Zanganeh to Board of Directors
Pulse Biosciences also announced the appointment of Maky Zanganeh, DDS,
MBA, to the Company’s Board of Directors. Dr. Zanganeh is the President
and CEO of Maky Zanganeh and Associates, which provides consulting
services to businesses in product development, research and
transactions. Most recently, Dr. Zanganeh was Chief Operating Officer at
Pharmacyclics where she oversaw all clinical, research, commercial and
business-related matters. Dr. Zanganeh played a key role in the
multimillion dollar collaboration and license deal for ibrutinib with
Janssen Biotech Inc. in 2011 and the subsequent sale of the company to
Abbvie Inc. in 2015. From 1997 to 2008, she held senior positions of
increasing responsibility within companies such as Robert Duggan &
Associates (a private investment firm) and Computer Motion Inc., where
she was the President of EMEA (Europe, Middle East, Africa) and Global
VP of Training and Education.
About Pulse Biosciences
Pulse Biosciences is a medical technology company developing a
therapeutic tissue treatment platform based on Nano-Pulse Stimulation, a
proprietary cell signaling technology. Published pre-clinical studies
have shown that a single, brief exposure of Nano-Pulse Stimulation to
target tissue stimulates a cascade of events within cells and in the
surrounding microenvironment that results in apoptosis (cell death) and
the priming of a durable adaptive immune response. Pulse Biosciences is
pursuing a variety of applications for its technology that exploits the
technology’s unique biologic effect in immuno-oncology, dermatology,
aesthetics, and veterinary medicine. More information is available at www.pulsebiosciences.com.
Forward-Looking Statements
All statements in this press release that are not historical are
forward-looking statements, including, among other things, the
development of Pulse Biosciences’ business, statements relating to
future uses and markets for its NPS technology, and other future events.
You should not place undue reliance on forward-looking statements
because they involve known and unknown risks, uncertainties, changes in
circumstances and other factors that are, in some cases, beyond Pulse
Biosciences’ control and could cause actual results to differ materially
from the information expressed or implied by forward-looking statements
made in this press release. Factors that could materially affect actual
results can be found in Pulse Biosciences’ most recent filings with the
Securities and Exchange Commission, including Pulse Biosciences’ most
recent registration statement on Form S-1, as amended, and quarterly
report on Form 10-Q, and include those listed under the caption “Risk
Factors.” Pulse Biosciences undertakes no obligation to revise or update
information in this press release to reflect events or circumstances in
the future, even if new information becomes available.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170210005180/en/
Source: Pulse Biosciences, Inc.
Investors:
Darrin Uecker, President and Chief Executive Officer
IR@pulsebiosciences.com
or
Media:
Sam
Brown, Inc.
Hannah Hurdle, 805-601-5331
hannahhurdle@sambrown.com
