Experienced Chief Commercial Officer Joins OstomyCure AS

September 26, 2016, OSLO

Experienced Chief Commercial Officer Joins OstomyCure AS

OstomyCure AS engages Morten Gunvad, currently founder and Head of GP Consulting GmbH, as Chief Commercial Officer of the TIES® System.

The Norwegian medical device company OstomyCure AS reinforces its organization and is pleased to announce the former Covidien and Aerocrine executive, Morten Gunvad, to lead
the commercialization of TIES®, a breakthrough solution that provides a continent ileostomy for stoma patients.

Morten Gunvad brings a wealth of experience of the international healthcare markets” said Dr. Ben Broennimann, M.D. and CEO of OstomyCure. ”At the stage of commercialisation 
Morten’s knowhow is extremely important for us.” added Dr. Broennimann.

The TIES® System consists of a small titanium tube implanted into the abdomen where the intestine and soft tissue grows into; it is then sealed with a lid that the patient can open to
drain whenever necessary. The lid quite simply functions as a stopper. In conventional stoma surgery, the intestine is extended a few centimetres above the abdominal wall, ending in a bag that adheres to the stomach. Life for many regular stoma patients means difficult situations at times where the stoma controls their lives. The bag often creates social limitations for the patients with discomforts such as skin irritations, infections, allergies and negative stress due to several toilet visits each day.

I am delighted of this opportunity to be part of a project which will significantly improve the lives of so many people.” says Morten Gunvad, new Chief Commercial Officer at OstomyCure. “Our focus at the moment is to prepare the last steps to go to market and at the same time create clinical evidence which proves that the TIES® Solution brings benefit to both the patients and the healthcare system.

OstomyCure has developed the TIES® System as a game changer for ileostomy patients. TIES® aim is to make life easier and dramatically increase the quality of life by helping those
with a stoma to take back the control and live a more carefree life.

In addition, the innovative benefits for the patients, TIES® also provides economic benefits. “Our preliminary calculations have shown that TIES®is a less expensive solution over time” says Dr. Broennimann, and concludes “It is our mission to provide better healthcare and  better quality of life for the stoma users as well as cost benefits for the health authorities and health care payers.”

Initially, the TIES® System will be launched in a selected number of countries in Europe.

Contact information:
Dr. Ben Broennimann, M.D. Nishant Fafalia
CEO, OstomyCure AS Chairman, OstomyCure AS
Phone: +41 79 301 6272 Phone +47 902 927 65
Email: ben@ostomycure.com Email: nishant.fafalia@kistefos.no

OstomyCure AS
Headquarters: Stockholm office:
Oslo Science Park, Gaustadalléen 21 Growhouse, Isafjordsgatan 39B
0349 OSLO, Norway 16440 KISTA, Sweden

About OstomyCure:
OstomyCure AS is a Medical Technology company with headquarter in Oslo, Norway. The company develops a revolutionary technology called Transcutaneous Implant Evacuation
System, The TIES® System.

The TIES® System is the result of several years of research combined with the latest 3D manufacturing technology, developed and produced in accordance with regulatory standards
to ensure safety for the patients.

The company is since August 2011 certified against ISO 13485 Quality Management System for Medical Devices.

The TIES® System received the CE marking in June 2016.

The market that OstomyCure addresses is estimated to be USD 2 billion per year.

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