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 Solution, the TIES® Solution.

The TIES® Continent Ileostomy Solution 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® Solution 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. Currently a large 200 patients trial is ongoing to gather more clinical data on performance, quality of life.

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%
  • Rosewall Ventures LTD, 4.3%
  • Other 13.4%

In addition to private equity, the company is grateful for extensive support from The Research Council of Norway and Innovation Norway as well as EU Commission FTI Horizon 2020. This support has been instrumental in the development of the company.

Management

Graeme Smith

CEO

Graeme is a Medical Device Industry Expert with 25+ years of proven results in achieving profitable business growth through the creation and execution of successful strategies. He is known as a specialist in New Market Entry and Distribution. He has worked in over 57 countries worldwide establishing Distribution channels and conducting business. He acts as a trusted advisor and critical sounding board for Boards in the USA, Europe, Australasia and the Middle East. He is highly experienced in rapidly capitalising opportunities and has raised significant capital for projects. A number of start ups utilising his expertise have progressed to successful and significant acquisitions. As well as numerous start ups, clients include Boots Pharmaceuticals, United States Surgical Corp( now Medtronic ) LMA Urology Suisse (now Cook Medical), Sanofi Biosurgery.

Dr. Benedict Brönnimann

CTO

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 which recently completed a NASDAQ listing.

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.

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.

Dr. Johan Järte

Medical Director

Johan Järte is a doctor of medicine from Karolinska Institutet and holds a specialist in clinical radiology. Dr. Järte has 20 years of experience in the pharmaceutical pharmaceutical, biotech and med tech industry in various leading positions at e g Pharmacia (former Pfizer), Orion Pharma, Janssen-Cilag and Serono Nordic, covering areas from pre-clinical development to marketing.

Since 2011, Dr. Järte is working partly as a medical director in ICT Health Support, and just over two years ago, he was a cofounder of the Swedish Patient Pool with Lyfepond site, aiming to become a leading patient integrator.

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.

Ladan Amiri

Senior QA&RA Manger

Ladan Amiri holds a M.Sc. in Applied Physics and Electrical Engineering from Linköping Institute of Technology (LiTH), Sweden. Ladan has over 25 years of broad experience from both large global biomedical industries and startups focusing on quality, regulatory strategies, risk management, efficiency, harmonizing, coaching and leading activities and groups.

Ladan has significant knowledge and experience of quality management systems and registration of products of both high class, including combination products, and products of lower class for European, US, Canadian and Australian markets. Ladan has worked at as companies such as Episurf, RaySearch Laboratories, St Jude Medical, Maquet and Siemens.

Board of Directors

Nishant Fafalia

Investment Director, 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.

Martin Krekling

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

Mr. 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.

Benjamin Røer

Investment Analyst

Benjamin Røer joined Kistefos in 2015. Prior to joining Kistefos, Mr. Røer worked as an equity analyst at Danske Bank Markets, covering consumer discretionary stocks. Mr. Røer holds a MSc in Applied Economics and Finance from Copenhagen Business School. He is also a CFA Charterholder. Mr. Røer represents Kistefos on the following boards: Infront ASA, Kappa Bioscience and OstomyCure AS

Founder

Bente Pauline Buverud

Founder

Buverud is qualified as a nurse and drug consultant with Master of Health and Social Informatics from the University of Agder. She also attended the first year of University of Debrecen Medical School. Buverud is the founder and former Managing Director of Ostomycure AS. The inspiration for building the company was to help stomia patients get a better life. After seeing the solutions in practice, retrieving information from user groups and finding out what had been done for improving the solutions globally, she started collect information and advice from experts in the field globally.

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