Business Wire05.10.16
GI Dynamics Inc. has appointed Jim Murphy as chief financial officer (CFO). Murphy’s role will encompass the finance, accounting and administrative functions of the company, and he will also serve as treasurer and secretary effective immediately.
“Last week, GI Dynamics announced to shareholders it had completed a full review of systems, expenses and personnel. In line with that review, important changes will be made to the company’s senior management team as we work toward rebuilding GI Dynamics and saving EndoBarrier Therapy for the millions of patients suffering from type 2 diabetes and obesity," CEO Scott Schorer said.
“On behalf of the GI Dynamics board, I am delighted to announce the appointment of Mr. Murphy. We look forward to restarting the company with a strengthened senior management team."
Prior to joining GI Dynamics, Murphy served as CFO of OXiGENE Inc., a NASDAQ-listed drug discovery company, and CFO of HemaSure Inc., a NASDAQ-listed medical device company that was spun out of Sepracor Inc. Murphy was instrumental in the sale of HemaSure assets to Whatman plc and was then part of a global team at Whatman that effected the consolidation of 18 operating locations worldwide to nine.
“Mr. Murphy is an accomplished senior finance executive with more than 30 years of experience in high-growth domestic and international environments and with deep experience in the life science sector. Jim has demonstrated success in both small and large business settings, with extensive experience in raising capital, operations, and mergers and acquisitions," Schorer said. "We are confident that GI Dynamics will benefit from his strategic and tactical leadership.”
“I joined GI Dynamics after speaking with the board and CEO,” stated Murphy. “It became clear that the technology developed at GI Dynamics has the potential to significantly help patients and clinicians fight a terrible disease and increase shareholder value. I look forward to working with the team at GI Dynamics.”
GI Dynamics developed EndoBarrier, the first endoscopically delivered device therapy approved for the treatment of type 2 diabetes and obesity. EndoBarrier is approved and commercially available in multiple countries outside the United States. EndoBarrier is not approved for sale in the United States and is limited by federal law to investigational use only. Founded in 2003, the company is headquartered in Lexington, Mass.
“Last week, GI Dynamics announced to shareholders it had completed a full review of systems, expenses and personnel. In line with that review, important changes will be made to the company’s senior management team as we work toward rebuilding GI Dynamics and saving EndoBarrier Therapy for the millions of patients suffering from type 2 diabetes and obesity," CEO Scott Schorer said.
“On behalf of the GI Dynamics board, I am delighted to announce the appointment of Mr. Murphy. We look forward to restarting the company with a strengthened senior management team."
Prior to joining GI Dynamics, Murphy served as CFO of OXiGENE Inc., a NASDAQ-listed drug discovery company, and CFO of HemaSure Inc., a NASDAQ-listed medical device company that was spun out of Sepracor Inc. Murphy was instrumental in the sale of HemaSure assets to Whatman plc and was then part of a global team at Whatman that effected the consolidation of 18 operating locations worldwide to nine.
“Mr. Murphy is an accomplished senior finance executive with more than 30 years of experience in high-growth domestic and international environments and with deep experience in the life science sector. Jim has demonstrated success in both small and large business settings, with extensive experience in raising capital, operations, and mergers and acquisitions," Schorer said. "We are confident that GI Dynamics will benefit from his strategic and tactical leadership.”
“I joined GI Dynamics after speaking with the board and CEO,” stated Murphy. “It became clear that the technology developed at GI Dynamics has the potential to significantly help patients and clinicians fight a terrible disease and increase shareholder value. I look forward to working with the team at GI Dynamics.”
GI Dynamics developed EndoBarrier, the first endoscopically delivered device therapy approved for the treatment of type 2 diabetes and obesity. EndoBarrier is approved and commercially available in multiple countries outside the United States. EndoBarrier is not approved for sale in the United States and is limited by federal law to investigational use only. Founded in 2003, the company is headquartered in Lexington, Mass.