New CEO Helms Laurimed

Redwood City, Calif.-based Laurimed LLC has appointed Richard M. Ferrari as CEO. Ferrari will lead the company in commercialization of the U.S. Food and Drug Administration-cleared Polypvac Microdebrider, a hand-held device that removes polyps during a routine physician office visit. The device was introduced in the United States last fall.

“We are thrilled to welcome Rich to the Laurimed team,” said Jeffrey A. Saal, M.D., co-founder of Laurimed. “His vast experience leading early-stage medical device companies through periods of rapid growth will serve us well as we prepare to bring the Polypvac system to ENT physicians and patients suffering from polyposis across the country.”

“The Polypvac device offers a truly compelling treatment alternative for a large clinical need, and the feedback from our clinical advisors and early adopters has been excellent,” said Ferrari. “I’m excited to join the Laurimed team to help realize the full potential of the technology and the company.”

Ferrari is a co-founder of De Novo Ventures, one of the premier firms dedicated to medical devices and biotechnology, with $650 million under management. He has raised approximately a billion dollars for companies he has directly influenced and has participated in over a billion dollars in acquisition events, and he has served as a successful CEO for two publicly traded medical technology companies: Cardiovascular Imaging Systems, which was acquired by Boston Scientific, and CardioThoracic Systems, acquired by Guidant. Ferrari also co-founded the Medical Technology Group, which spun out Integrated Vascular Systems, acquired by Abbott Vascular, and Ensure, acquired by Johnson & Johnson. Previously, Ferrari held the positions of executive vice president and general manager of ADAC Laboratories and founded Saratoga Ventures. He is the recipient of the Mallinckrodt Award for Excellence in Medicine and has been a finalist for the EY Entrepreneur of the Year Award. He holds a B.S. from Ashland University and an MBA from the University of South Florida.

Polyp removal with the Polypvac is performed using a local anesthetic and typically takes just a few minutes to treat both sides of the nose, according to the company. The treatment is touted as an alternative to older, more invasive techniques for polyp removal in the operating room and allows many patients to avoid oral steroids. The technology requires no batteries and no electricity, and is completely disposable.

Nasal polyps are benign growths in the lining of the nasal passages or sinuses that can cause breathing problems, loss of sense of smell and taste, difficulty sleeping, runny nose, and frequent infections. Polyp removal, a proven treatment for polyposis, relieves symptoms by immediately improving airflow through the nasal passages. There is no known permanent cure and for most patients polyposis is a recurrent condition.