NeoChord Appoints New President and CEO

NeoChord Inc. has a new leader. David H. Chung has been named president and CEO, effective immediately. He replaces John Seaberg, who recently stepped down.

“I am pleased to join NeoChord at this time. The company has established a commercial beachhead in Europe for its technology, which allows for the implantation of artificial chordae tendinae, a technique for the repair of mitral valve prolapse, via a transapical, off-pump procedure,” Chung said. “In April, NeoChord announced the treatment of its 100th patient in Europe, a significant commercial milestone. Our procedure provides patients with a less-invasive alternative to the rigors of traditional open-chest surgery performed on a stopped heart.”

The NeoChord system currently is being used to treat patients in 18 hospitals throughout eight countries, which includes TACT Registry and non-registry centers in Europe. More than 120 patients have been treated to date, according to the company.

David Chung has more than 20 years of experience in hospital-focused, global medical device and pharmaceutical senior leadership. His cardiovascular experience includes 15 years with Edwards Lifesciences, culminating in his role as global vice president of commercial operations for the heart valve therapy franchise. Chung left Edwards to lead Mitralis, an early-stage, transcatheter mitral valve repair company, as president and CEO. Most recently, he served as chief commercial officer at specialty drug firm AcelRx Pharmaceuticals Inc. Prior to AcelRx, Chung was chief commercial officer for Conceptus (Bayer). He began his career at Pfizer in a variety of sales roles. Chung has a bachelor’s degree in general engineering from the United States Military Academy at West Point, N.Y.

In addition to Chung’s appointment, NeoChord executives also named Michael Fulton, M.D., a NeoChord board director, as chairman.

“David’s experience in building and managing international salesforces will be invaluable, as we introduce NeoChord’s technology to patients throughout Europe,” Fulton said. “We are excited to welcome David to the NeoChord team, and are thankful to John Seaberg for the leadership he provided to NeoChord over the past seven years.”

Fulton, a managing director at Hopen Life Science Ventures, has more than 20 years of experience in the life-sciences space. Prior to Hopen, Fulton was an entrepreneur in the medical device and health services sectors. He received his B.A. from Northwestern University; his M.D. from Cornell University Medical College; and completed his neurosurgery residency at the Cleveland Clinic.

Based in Eden Prairie, Minn., NeoChord is a privately held developer of mitral regurgitation treatments. The company received the CE mark in December 2012 for the DS1000 device for minimally invasive mitral valve repair via surgical implantation of artificial chordae tendinae. Mitral regurgitation is a progressive disease that, left untreated, can result in atrial fibrillation, congestive heart failure, and death.