Helius Medical Technologies Inc., a neurotech company focused on neurological wellness, announced Philippe Deschamps has stepped down from his positions as president and CEO and resigned his position as Chairman of the Board of Directors, effective August 23. Current members of the Board of Directors, Dane C. Andreeff and Blane Walter, have been appointed to the respective positions of Interim President and CEO, effective August 23, and Chairman of the Board of Directors, effective August 23. Andreeff will continue to serve as a director of the company and is expected to serve as Interim President and CEO until the Board of Directors completes its search for a permanent successor.
 
“On behalf of my fellow directors, I would like to thank Phil for his leadership and dedication to Helius Medical Technologies over the last seven years,” said Blane Walter. “Phil has led the company since its early days and his achievements have enabled Helius to transition to a publicly-traded, commercial-stage company that is currently awaiting regulatory clearance in the U.S. We wish him the very best in his future endeavors.”
 
Walter continued, “The Board and I believe Dane is an excellent candidate to build upon Helius’ recent regulatory and operational progress as we conduct the search for a permanent successor. Dane has been an important adviser to the company as a member of the Helius Board of Directors for the last three years, is a large shareholder and is well-versed in all aspects of its strategy. For over 20 years, he has served as General Partner and Portfolio Manager at Maple Leaf Partners, LP, a hedge fund which he founded and subsequently grew to over $2 billion in assets under management. Dane also possesses significant experience advising other companies as a board member, including multiple companies in the healthcare sector. Importantly, Dane is dedicated to pursuing our objectives as an organization efficiently and effectively, and has elected to take no additional compensation in return for his service as Interim President and CEO. We look forward to leveraging his leadership skills, and experience in managing and advising businesses, as Helius pursues its next phase of growth.”
 
“During my tenure as a member of Helius’ Board, I have been consistently impressed with the potential of our PoNS technology and dedication our organization has shown to bringing it to the aid of patients suffering from the effects of chronic conditions like multiple sclerosis and traumatic brain injury,” said Dane C. Andreeff. “Helius has made exciting regulatory and operational progress this year, expanding our network of authorized PoNS clinics to 19 locations in Canada, obtaining FDA Breakthrough Designation for our target indication in MS—which represents a high unmet medical need—and ultimately submitting our request for U.S. FDA de novo classification and clearance earlier this month. In view of this progress, I believe we are well-positioned to begin the next phase of growth as an organization. As Interim President and CEO, I am committed to building on our recent achievements in Canada and the U.S., and driving continued operational progress for the benefit of our patients and shareholders.”
 
“It has been a privilege and a great pleasure to serve on the executive leadership team and Board of Directors at Helius and I’m proud of the many accomplishments that we have achieved during my tenure,” said Philippe Deschamps. “I remain a significant shareholder in Helius and a firm believer that the PoNS technology represents a truly revolutionary approach to the treatment of neurological disease and trauma. I look forward to the company’s future progress under Dane and Blane’s leadership and expertise.”