About OstomyCure

OstomyCure AS is a Medical Technology company with headquarters in Oslo, Norway. The company has developed a revolutionary technology called Transcutaneous Implant Evacuation System, the TIES® System.

The TIES® Continent Ileostomy System is a titanium implant solution with lid intended to replace a conventional ileostomy. It allows a more carefree life for patients who suffer from inflammatory bowel diseases such as Crohn´s disease, Ulcerative colitis, cancers or other related diseases that necessitate removal of the colon (large intestine).

The TIES® System is the result of several years of research combined with the latest 3D manufacturing technology. It has been developed and manufactured in accordance with regulatory standards to ensure patient safety.

The company was awarded the certification ISO 13485 Quality Management System for Medical Devices in 2011.

The TIES® System received CE marking in June 2016.

OstomyCure addresses a market estimated at USD 2 billion per year.

Investor relations

OstomyCure is a privately held company financed by private equity and public research grants.

Share holders

The largest shareholders are:

  • Kistefos AS 66.8%
  • Canica AS 7.8%
  • Inven2 AS 7.7%
  • Other 17.7%

In addition to private equity, the company is grateful for extensive support from The Research Council of Norway and Innovation Norway. This support has been instrumental in the development of the company.

Management

Dr. Benedict Brönnimann

CEO

Dr Benedict Brönnimann is a seasoned executive and has been managing medtech and pharmaceutical companies for more than 20 years. He has a history of success in delivering strong results for companies in medical device and pharmaceutical industries both in Europe and the USA. Prior to OstomyCure he was Senior Partner at Rosewall Ventures Ltd, President and CEO of Leman Cardiovascular SA and Hancock Laboratories Inc.

Prior to his executive experience, he worked as a certified specialist in both general surgery and pharmaceutical medicine with over 10 years of clinical practice.

Cindy Wong

CMO

Dr Cindy Wong has joined OstomyCure since February 2017. In addition to leadership experience in managing clinical research and medical affairs teams in the medical device industry, she has a wealth of experience with clinical studies, regulatory requirements for product approval and post-market follow-up, device safety, risk management, and medical information.

She has been successful in delivering results that led to global product approvals for indications within colorectal surgery, urology and dermatology. Prior to joining OstomyCure she was Chief Medical Officer for Global Medical Affairs at Galderma and Q Med AB. Dr Wong is a board-certified specialist in both internal medicine (FRACP) and clinical diagnostic immunopathology (FRCPA). She also has experience from Swedish MPA and Australian Commonwealth of Health.

Mats Cardell

COO & Senior Project Manager

Mats Cardell joined OstomyCure in 2010 and has been instrumental in the development and production of the TIES® System. He holds an MSc from KTH. He has almost 30 years of experience from R&D in Medical Technology and international standardization as a Project & Department Manager, IPR & Chief Technical Officer and as an independent consultant to both small and large organizations.

Mr Cardell has been engaged in the development of implantable insulin pumps, anaesthesia systems, respirators, gas analyzers and many other areas in medtech. He has worked for Vinnova, VGR, Sensidose, Episurf, Mikrolab, Diabetes Tools, Artema Medical, Siemens-Elema, et al.

Morten Gunvad

Chief Commercial Officer

Morten Gunvad is a seasoned executive with invaluable experience from over twenty years in the medtech industry. He has held numerous senior management positions at both start-ups and international medical device companies.

Mr. Gunvad possesses detailed knowledge of the European healthcare market which has given him an in-depth understanding of what it takes to succeed in the global medtech market. Some of his previous positions are VP Commercial Operations EU/Asia at Aerocrine, VP Soft Tissue Implants at Covidien, Area Director Nordic Countries at Tyco Healthcare. He is also the founder and CEO of GP Consulting GmbH.

Henning Mork

CFO

Henning Mork is engaged as CFO, with a Bachelor’s degree in Marketing from BI and MSc-level courses in investment/financing. He also has a lower degree in Political Science from the University of Oslo.

He has twenty-plus years of experience from the manufacturing industry, IT, life sciences and consultancy operations at management level. He has working experience in general management, finance, and business development for several listed companies as well as start-ups.

Alf Malmberg

Senior QA&RA Manger

Alf Malmberg holds a PhD in organic chemistry from Uppsala University. He has been responsible for structuring OstomyCure’s quality system.

Mr. Malmberg has over 30 years of experience in the medical device industry. He worked at Carmeda AB in product development and later as QA & RA Manager. Since 2004 he has been a senior QA & RA consultant, designing and implementing quality systems and technical files for small and medium-sized companies.

Board of Directors

Nishant Fafalia

Investment Manager, Kistefos AS

Prior to joining Kistefos Mr. Fafalia worked as a project manager at Orkla Brands, a leading Norwegian FMCG company. Mr. Fafalia holds an MSc from Lund Institute of Technology and an MSc from both Lund University School of Economics & Management and National University of Singapore.

Johan Gjesdahl

Partner, Alliance Venture

Johan has a broad background in venture IT and start-ups. Responsible for M&A and business development at TANDBERG ASA, with venture experience from Springfondet and Telenor Venture. Johan also formed part of the management team of a high-tech start-up during the dotcom years. He also holds MSc from NTNU and MBA from Cornell University.

Richard Karroum

CEO, Evolan Pharma AB

Richard has more than 20 years of experience in pharmaceutical and medical device industries. He has previously held sales, marketing and general management positions at Abbott, Eli Lilly, Pfizer, Covidien and Nexstim. Most recently Richard has been the CEO of Nexstim.

Martin Krekling

Country Sales Manager AF and CRM divisions, St. Jude Medical

Krekling holds an MSc degree in biochemistry from the University of Oslo and a Master of Management degree from BI Norwegian School of Management. Krekling has previously worked at NeoMed Management, an international venture fund investing in life science companies, where he was part of the investment team. He also served as interim CEO in one of the fund's portfolio companies. He has more than 10 years of medtech industry sales and marketing experience.

Georg Stang

CEO Preventia Executive Health AS

Stang is qualified as a medical doctor from the Royal College of Surgeons in Ireland and the University of Oslo. He is the founder and Managing Director of Preventia Medisinske Senter AS. He also is the founder and CEO of Preventia Executive Health in Oslo. In addition, he has worked as a medical doctor in general practice, occupational health, preventive medicine and health assessment.

Olav Steinnes

CFO, Inven2 AS

Steinnes has an M.Sc in Business Administration from the Norwegian School of Economics and Business Administration, NHH. He has previously worked at Nycomed Pharma AS as Vice President Diagnostics and in Axis-Shield plc as Group Managing Director.

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