TORONTO, ON--(Marketwired - January 17, 2017) - XOR-Labs Toronto Inc. (XOR), a spin-off from Toronto General Hospital at University Health Network the world's leading center for lung transplantation and a MaRS Innovation company, today announced the appointment of Steven Plymale as an Independent Director to its Board. Mr. Plymale is the President and COO of Profound Medical, (TSX VENTURE: PRN), an emerging medical device company that is commercializing a real time MR image guided thermal ultrasound ablation treatment for prostate disease. Mr. Plymale has a strong track record of building medical technologies from the critical early stages of product development through operational scale-up and clinical and regulatory pathway development. With this addition, XOR continues to add independent oversight, diversity, and expertise.
"I am excited about the future opportunities for XOR. It has the potential to change the critical field of organ transplantation, a life-saving innovation pioneered here in Canada. I am thrilled to be a part of this emerging world class Board and look forward to working with the management team," said Mr. Plymale.
Mr. Plymale will be joining leading lung transplant clinicians such as Dr. Shaf Keshavjee, O.C., O.Ont. and key sector leaders such as Dr. Georg Matheis, CEO of Xenios AG, a global leader in innovative solutions for heart and lung failure.
Dr. Tom Waddell, XOR's CEO and Board Chair says, "We are excited to add Mr. Plymale and his vast experience to our Board. XOR plans to continue to add high quality individuals to its team to help achieve both its short and long term objectives."
XOR is a cutting-edge medical device company focused on leading dramatic advances within the fields of organ transplantation and diseased organ treatment. XOR's ultimate goal is to become the worldwide leader in advanced multi-organ therapies, a market conservatively valued at $3-$5 billion.
XENiOS AG is a privately held medical device company. XENiOS® is the therapy and technology leader in minimally invasive lung-and-heart assist. Its novalung®, i-cor®, and medos® devices provide pulmonary and cardiac assist for a broad range of support levels, and all run on the XENiOS® console. The XENiOS® products are designed to provide at least four essential advantages with its minimally invasive lung and heart therapies: (1) patients can be awake and mobile; (2) self-actuated patients facilitate improved outcomes; (3) there is no ventilator-associated lung injury or pneumonia; (4) additionally, the XENiOS® platform creates a physiologic natural pulse designed to protect the heart.
About MaRS Innovation
MaRS Innovation is the commercialization agent for 15 leading academic institutions in Ontario. It provides investors and licensees with a single point to access technology assets emerging from its members, who receive $1.4 billion in annual research and development funding. Supported by the Government of Canada through the Networks of Centres of Excellence, by the Government of Ontario through the Ontario Centres of Excellence, and by its 15 member institutions, MI turns research strengths into commercial opportunities through industry partnerships, licensing and company creation.