AtriCure CEO is Named Board Chairman of Axonics

Axonics Modulation Technologies Inc., a medical technology company that has developed and is commercializing implantable Sacral Neuromodulation (SNM) devices for the treatment of urinary and bowel dysfunction, has appointed Michael H. Carrel as chairman of its Board of Directors. Concurrent with this appointment, Raphael Wisniewski, who has served as chairman of Axonics since the company’s inception in late 2013, is retiring.
 
Carrel has been a member of the board of directors of Axonics since February 2019. He currently serves as president, CEO, and board member of AtriCure Inc., and has been in this role for over seven years. AtriCure develops and markets medical devices for the treatment of atrial fibrillation and related conditions. Under Carrel’s leadership, AtriCure’s revenue was $231 million in 2019, up from $72 million in 2012. Carrel’s 25-year career includes successful leadership roles in global organizations in the healthcare and technology industries.
 
Raymond W. Cohen, CEO of Axonics commented, “On behalf of all Axonics stakeholders, I would like to acknowledge Raphael for his many contributions and valuable service to our organization since our inception. Raphael’s investment firm, Andera Partners, based in Paris, France, manages over 2 billion euros in assets and was the lead investor in a number of Axonics’ private financing rounds prior to the company’s IPO in November 2018. We owe Raphael a debt of gratitude for recognizing the opportunity in Axonics and providing steady Board leadership during our transition to a commercial stage company.”
 
In mid-April, Axonics received U.S. Food & Drug Administration (FDA) approval of its next-generation rechargeable implantable neurostimulator (INS) for its r-SNM System under a premarket approval supplement.
 
This next-generation INS decreases how frequently a patient needs to recharge their implanted device to once a month for about one hour (under standard operating conditions). This compares to the current recharging interval which is one hour every two weeks. This new feature will also give patients the option to customize their charging experience, for example, choosing to charge for only 15 minutes once a week or only one hour every two months for those patients at lower stimulation intensity levels. In addition to extending the recharging interval, the enhanced INS will experience virtually no battery degradation over the 15-plus year life of the INS due to the reduced charging burden.
 
The FDA approved the long-lived, rechargeable, full-body MRI compatible Axonics r-SNM System in late 2019, with the first commercial sales occurring in November 2019. The next generation Axonics INS is expected to begin shipping to customers in the United States during the third quarter of 2020.