EnteroMedics Names New COO
Posted on February 20, 2013 @ 12:47 pm
St. Paul, Minn.-based EnteroMedics Inc. has given Senior Vice President and Chief Financial Officer Greg S. Lea the additional responsibility of chief operating officer. Lea has been with the company, which develops neuroblocking technology to treat obesity, metabolic diseases and other gastrointestinal disorders, for five years.
Lea’s appointment comes in preparation for the company seeking a pre-market approval (PMA) application with the U.S. Food and Drug Administration (FDA) in the second quarter of 2013 for its VBLOC therapy technology. FDA approval would build on the results from its randomized, double-blind, sham-controlled, multicenter ReCharge Pivotal Trial of VBLOC vagal blocking therapy for the treatment of obesity. Lea’s additional responsibilities as chief operating officer will focus on the efficient and effective alignment and execution of the company’s regulatory and ongoing commercialization priorities.
“EnteroMedics is at a decisive time in its development, and our efforts will be on effectively utilizing our critical resources as we embark on the FDA PMA process in 2013,” said Lea. “I am incredibly energized to help lead the Company to its next phase of delivering VBLOC therapy to the U.S. market.”
Lea has served as EnteroMedics’ senior vice president and chief financial officer since May 2007. Prior to joining the Company, he was chief financial officer at Pemstar Inc. from July 2002 through January 2007 when it was acquired by Benchmark Electronics Inc. Lea also served as a director of Pemstar from April 2001 through January 2007 and held the position of corporate controller from April 2002 through July 2002. From 1993 to April 2002, Lea served as a corporate vice president for Jostens Corporation, a commemorative and affiliation products manufacturer, serving most recently as corporate vice president of business ventures. Prior to that, he held several financial management and administrative positions at IBM Corporation from 1974 to 1993 and was president and a director of the Ability Building Center Inc. from 1981 to 1993. Lea holds a B.S. in accounting and business management from Minnesota State University, Mankato.
EnteroMedics’ VBLOC vagal blocking therapy is designed as a less invasive alternative to existing surgical weight-loss procedures that may present significant risks and alter digestive system anatomy, lifestyle and food choices. VBLOC therapy is delivered through laparoscopically implanted leads to intermittently block the vagus nerves using high-frequency, low-energy electrical impulses. According to the company, the technology is designed to target the multiple digestive functions under control of the vagus nerves and to affect the perception of hunger and fullness.
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