UroMems Appoints Steffen Hovard to Chairman of the Board of Directors

GRENOBLE, France, May 11, 2022 (GLOBE NEWSWIRE) —  UroMems, developer and manufacturer of UroActive™, the first active medical implantable device for treating stress urinary incontinence, today announced the elevation of Steffen Hovard, currently on UroMems’ Board, to Chairman of the Company’s Board of Directors. Mr. Hovard is a medical device industry leader in the U.S, with a successful track record in urology. As chairman, he will be focused on increasing UroMems’ financial, clinical development and commercial footprint in the U.S.

“I joined UroMem’s Board in 2020 because I believed that the UroActive™ device is truly innovative and potentially transformational treatment for the millions of men and women worldwide who suffer from stress urinary incontinence or SUI,” said Mr. Hovard. “Now as we approach the initiation of clinical trials in the U.S., I was offered the opportunity to increase my involvement with UroMems by taking on the responsibility as Chairman of the Board. I hope to further assist the Company in reaching its goals of increasing U.S. investors’ interest, launching clinical trials and anticipating the commercial launch in the U.S. and other geographies.”

For more than 20 years, Mr. Hovard has been a prominent leader in the medical device industry especially in urology. He has held multiple leadership roles at subsidiaries of Coloplast, a publicly traded global medical device company. Most recently, from 2011 to 2019, he served as the President of the global Interventional Urology business, a global $300M fast growing business with a broad portfolio of both single use and implantable devices. Mr. Hovard currently serves on a number of medical device company Boards. Having worked internationally throughout his career, and now living in the U.S., Mr. Hovard brings a geographical and business perspective to UroMems, giving a solid foundation for the company’s transformation to the next stage, as it prepares for clinical trial and eventually commercialization.

“The U.S. is an important geography for UroMems because a large percentage of urological procedures occur there,” said Hamid Lamraoui, Chief Executive Officer and co-founder of UroMems. “This is also the opportunity for the company to bring on board of U.S.-based investors involved in emerging innovative medical device companies. In addition, Steffen has been a key contributor to the Company’s development since he joined our Board in 2020. We are grateful that he has accepted the additional responsibility as Chairman of our Board of Directors. His strong reputation within the medical device industry will be of great assistance as we transition from being a French emerging medical device company into a global, clinical stage medical device company.”

About UroActive™
UroActive™ is an active implantable electronic artificial urinary sphincter that compensates for sphincter insufficiency in patients, both men and women, with SUI. It is based on a unique mechatronic platform using embedded smart, AI-based, digital & robotic systems which, based on data collected from a patient, creates a treatment algorithm that is specific for each patient’s needs. The UroMem’s technology platform is protected by more than 100 patents and is designed to overcome the limitations of current solutions by optimizing safety and performance, patient experience and surgeon convenience.

About UroMems
Founded in 2011 by Pr Pierre Mozer, Hamid Lamraoui and Stéphane Lavallée, UroMems aims to restore the quality of life, dignity and self-esteem of millions of men and women worldwide suffering from untreated chronic conditions by the commitment to change the perception that these disorders are inevitable as one grows older and is simply something to endure with no real solution. The first challenge for the company will be applying robotic methods and smart systems for treating urinary incontinence: designed by urologists and collaborating scientists and engineers, UroActive™ will present a new standard of care combining safety, efficacy, durability and ergonomics fitting any individual’s lifestyle and anatomy.

Since the inception of the company, significant investments have been made for the development of UroMems’ first product. This includes 2 financing rounds totaling $30 million, led by Wellington Partners, Bpifrance, Supernova Invest, Cita Investissement, btov Partners, Hil-Invent and Financière Arbevel. The company has been awarded by several renowned innovation prizes including the Prix Galien Award Medstart’up, and the Worldwide Innovation Challenge initiated by the French government. For more information, please visit www.uromems.com

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Media: Robert Flamm
Burns McClellan