NeuroPace Announces CEO Transition
NeuroPace Appoints Joel Becker as President & CEO
Becker Brings a Track Record of Strong Commercial Execution and Deep Medical Device Operating Expertise
Mike Favet to leave Company after four years as President, CEO and Board Member and will continue to advise through transition
MOUNTAIN VIEW, Calif., June 28, 2023 (GLOBE NEWSWIRE) -- NeuroPace, Inc. (Nasdaq: NPCE), a commercial-stage medical device company focused on transforming the lives of people living with epilepsy, today announced the appointment of Mr. Joel Becker as NeuroPace President & CEO and member of the Board of Directors effective July 10, 2023. Mr. Michael Favet will be stepping down as CEO and as a member of NeuroPace’s Board of Directors to pursue other opportunities. He has agreed to stay on as a consultant throughout the transition.
“Joel brings a distinguished track record of successful commercial leadership and is highly qualified to lead NeuroPace as we move into our next phase of commercial expansion and corporate development,” said Frank Fischer, Chairman of the Board of Directors of NeuroPace. “With over 25 years of diverse experience developing markets, driving growth and leading innovation in medical technologies, from product development to corporate strategy and commercial execution, Joel brings invaluable experience, skills and insight to NeuroPace at a time when we are poised to accelerate adoption of our highly differentiated RNS® System.”
“At the same time, on behalf of the NeuroPace board and employees, I would like to acknowledge and thank Mike for all that he has done for the Company and for our patients. Mike’s contributions to the Company have been substantial, guiding us through COVID, steering us through a successful IPO process, and driving our commercial progress,” added Mr. Fischer. “We wish Mike continued success in his future endeavors and are pleased he has agreed to stay on as consultant through the transition.”
Mr. Becker is a global medical device executive with more than 25 years of experience in successfully building, growing, and leading medical technology companies. He has most recently worked as the President of Viking North Ventures, which specializes in working with medical technology and healthcare Companies, Boards and Investors to accelerate growth by providing advisory, leadership and strategy development services. Prior to Viking North, Mr. Becker served as President of the Cardiac Rhythm Management and Neuromodulation business for Integer Holdings LLC, a publicly traded medical device contract development and manufacturing company. He previously spent more than 15 years at St. Jude Medical Inc., where he served as President of the Americas Division and led the commercial organizations for the electrophysiology, cardiology, structural heart, cardiac rhythm management and neuromodulation businesses in the Americas. In addition to a number of other leadership roles at St. Jude Medical, Mr. Becker also served as one of the founding members of the Atrial Fibrillation Division management team, which he helped lead and grow to more than $700 million in revenue. Mr. Becker holds a Master of Business Administration degree from the Carlson School of Management at the University of Minnesota.
“I am thrilled for the opportunity to join NeuroPace at this critical time in the Company’s history,” said Mr. Becker. “As RNS adoption continues to advance, I look forward to leveraging my expertise in market development, commercial execution, and corporate strategy to accelerate our commercial strategy, expand our presence among the epileptologist and neurosurgeon communities, and drive operational excellence. I look forward to furthering NeuroPace’s mission of transforming the lives of people living with epilepsy by providing more patients with life-changing benefits that our RNS system offers. I am excited to work with our talented team and to leverage my experience to build on the Company’s success and drive growth.”
About NeuroPace, Inc.
Based in Mountain View, Calif., NeuroPace is a commercial-stage medical device company focused on transforming the lives of people living with epilepsy by reducing or eliminating the occurrence of debilitating seizures. Its novel and differentiated RNS System is the first and only commercially available, brain-responsive platform that delivers personalized, real-time treatment at the seizure source. This platform can drive a better standard of care for patients living with drug-resistant epilepsy and has the potential to offer a more personalized solution and improved outcomes to the large population of patients suffering from other brain disorders.
Forward Looking Statements
In addition to background and historical information, this press release contains “forward-looking statements” based on NeuroPace’s current expectations, forecasts and beliefs, including among other things, the statements related to commercial strategy, execution, expansion, operational performance, and growth, above. These forward-looking statements are subject to inherent uncertainties, risks, and assumptions that are difficult to predict. Actual outcomes and results could differ materially due to a number of factors, including the ongoing uncertainty of the impact of the COVID-19 pandemic, as well as COVID recovery impact, on NeuroPace’s business. These and other risks and uncertainties include those described more fully in the section titled “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operation” and elsewhere in NeuroPace’s public filings with the U.S. Securities and Exchange Commission (SEC), including its Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC on March 2, 2023 and its Quarterly Report on Form 10-Q for the period ended March 31, 2022 to be filed with the SEC, as well as any other reports that it may file with the SEC in the future. Forward-looking statements contained in this announcement are based on information available to NeuroPace as of the date hereof. NeuroPace undertakes no obligation to update such information except as required under applicable law. These forward-looking statements should not be relied upon as representing NeuroPace’s views as of any date subsequent to the date of this press release and should not be relied upon as a prediction of future events. In light of the foregoing, investors are urged not to rely on any forward-looking statement in reaching any conclusion or making any investment decision about any securities of NeuroPace.
Investor Contact:
Jeremy Feffer
Managing Director
LifeSci Advisors
jfeffer@lifesciadvisors.com
