PITTSBURGH, June 30, 2008 – Cohera Medical Inc. today named Richard L. Wonsettler to the newly created position of vice president of finance and CFO.
The addition of Wonsettler, who has nearly 20 years of financial management experience with emerging private and public companies, comes at a time that Cohera Medical is preparing to enter the clinical stage of development with its lead surgical adhesive product, TissuGlu®.
“We are entering an important phase in the company’s growth,” said Patrick Daly, president and CEO of Cohera Medical. “In conjunction with our product development activities, we are ramping up our financing activities. Richard has the proven experience in working with companies in positions similar to ours. He will be integral to our plans moving forward.”
Prior to joining Cohera Medical, Wonsettler was the CFO and treasurer of Active Media/ClubCom Inc., venture-capital-backed, start-up companies in Pittsburgh for which he built the accounting and treasury departments. Before this, Wonsettler worked with Wexford, Penn.-based SMT Health Services Inc. (SMT) as CFO and treasurer. He was the head of SMT’s finance department when the company was owned by private equity firm Apollo Management L.P. Earlier in his career, Wonsettler was an audit professional with KPMG L.L.P. in Pittsburgh.
Wonsettler is a certified public accountant. He received a bachelor’s degree in accounting, summa cum laude, from Washington and Jefferson College in Washington, Penn.
About Cohera Medical Cohera Medical Inc. is a Pittsburgh-based company that is developing a revolutionary line of wound management products and surgical adhesives. Cohera Medical’s products are based on a unique chemical design that is purely synthetic, easy to use, biocompatible and fully resorbable. The company’s lead product in development, TissuGlu, is a sprayable bonding agent for plastic surgery procedures. TissuGlu adheres flaps of tissue after surgical procedures, eliminating the spaces where fluid accumulates and reducing wound drainage. Cohera Medical is also developing surgical adhesives targeting mesh fixation and small bone fixation, which will fill similar market needs in both orthopedics and general surgery. For more information, visit www.coheramed.com. TissuGlu and the other Cohera products have not yet been approved for medical use by the Food and Drug Administration (FDA) in the U.S. or by any other country’s regulatory authority.
Certain statements made throughout this press release that are not historical facts contain forward-looking statements regarding the Company’s future plans, objectives and expected performance. Any such forward-looking statements are based on assumptions that the Company believes are reasonable, but are subject to a wide range of risks and uncertainties and, therefore, there can be no assurance that actual results may not differ materially from those expressed or implied by such forward-looking statements.
