Pulse Biosciences Changing its Strategic Focus

Pulse Biosciences Inc. is refocusing its efforts on the cardiovascular space and has making corresponding changes to its executive team to support the realignment.

Beyond cardiovascular, the company hopes to potentially expand within the oncology, gastroenterology, and other sectors where it has established key opinion leader relationships and emerging preclinical evidence. “With the full backing of our board to make the shift in strategy at this time, I look forward to expanding into other areas of healthcare that can leverage our unique NPS technology,” President and CEO Kevin Danahy said. “Shifting our strategy aligns with our ability to demonstrate our proven mechanism of action and the safety and efficacy of our technology as it relates to other markets. I am excited to have the opportunity to collaborate with this executive team through our next phase of growth.”
 
To support the realignment, Pulse Biosciences has made several executive team changes. Danahy, who served as chief commercial officer since February, succeeded Darrin Uecker as president and CEO. Uecker is now chief technology officer, responsible for technology advancement and product development. Joe Talarico, formerly vice president of North American Sales, is now vice president of Business Development, where he will leverage his experience in the commercial introduction of new disruptive technologies. Board Chairman Robert Duggan assumes a newly created leadership role as executive chairman.

Danahy has more than 20 years of senior management experience at medical technology companies. Most recently, he was president of Solmetex, driving revenue growth for the company through the implementation of scalable solutions, while overseeing strategy, sales, marketing, operations, engineering, and service efforts. Previously, at Zimmer Biomet, Danahy held roles of increasing responsibility, most recently as vice president of Global Emerging Technologies and Specialty Sales. Before his time at Zimmer Biomet, Danahy was senior director at Intuitive Surgical, where he successfully transformed the sales leadership training program. Early in his career, he served in commercial leadership roles at both Medtronic and Johnson & Johnson. Danahy earned a master of science degree from Tufts University.
 
“During his time at Pulse, Kevin has demonstrated strong leadership and operational skills. The Board of Directors believes he is the right person to lead Pulse during this next pivotal phase. I am confident in NPS technology and its potential,” said Duggan. “We have positioned the company to now focus on high opportunity application areas.”
 
Implementing the present time strategic opportunities does not require the significant sales, marketing and related administrative support team that has been in place. Accordingly, headcount now stands at 66 employees principally focused on engineering, business development, and related new product support personnel. In June 2022, Pulse Biosciences employed 121 employees; the reduction in personnel mainly impacts dermatological sales, marketing, and related support activities. Along with minimizing commercial activities, the company plans to evaluate potential partners in the dermatology space. 

Duggan, the majority shareholder, and Pulse Biosciences have entered into a loan agreement in which he has agreed to loan the company $65 million to fund its product development operations.
 
“You can expect Team Pulse Biosciences to stiffen execution, measure what matters, economize wherever possible and do what it takes to achieve a dynamic, expanding and viable organization that delivers patients, physicians and caregivers products and services that significantly improve quality of life,” said Duggan.
 
Pulse Biosciences is a bioelectric medicine company committed to health innovation. The company’s proprietary Nano-Pulse Stimulation technology delivers nano-second pulses of electrical energy to non-thermally clear cells while sparing adjacent non-cellular tissue. The CellFX System is the first commercial product to harness the distinctive advantages of NPS technology to treat a variety of applications for which an optimal solution remains unfulfilled. The initial commercial use of the CellFX System is to address a range of dermatologic conditions that share high demand among patients and practitioners for improved dermatologic outcomes. Designed as a multi-application platform, the CellFX System offers customer value with a utilization-based revenue model.