Market Overview

MedLumics Appoints Medtech Industry Veterans James Greene as Chief Executive Officer and Giovanni Leo as Member of the Board of Directors


a medical device company developing an optically guided cardiac ablation
platform for the treatment of Atrial fibrillation (AF), announced today
it has appointed James Greene as Chief Executive Officer and named
Giovanni Leo to the board of directors. The addition of two medical
device industry veterans positions the company for its next phase of
growth toward the commercialization of its AblaView catheter, intended
for the treatment of AF and other arrhythmias. Eduardo Margallo Balbas
and Jose Luis Rubio, MedLumics' Founders, continue to spearhead
MedLumics' scientific innovation and product development as Chief
Operating Officer and Chief Technology Officer, respectively.

Greene, until recently a member of the MedLumics board of directors,
brings 30 years of experience as an effective business leader in the
medical device industry. He joins MedLumics from Seroba Lifesciences, a
venture capital firm based in Dublin, where he was a partner. In that
role, Greene served as board director for the firm's medical device
portfolio companies and mentored portfolio company management teams.
Prior to Seroba, Greene founded and led cardiovascular device companies
based in the U.S. and Europe, including VERSO Technologies, APK Advanced
Medical Technologies, APICA Cardiovascular, and MitralSolutions, for
which he found a diversity of successful industrial acquirers. Greene
has also held leadership positions at large medical device companies,
including Medtronic, Guidant Corporation, and Abbott Diagnostics.

"I am honored to be chosen to lead MedLumics as CEO," said Greene.
"MedLumics' innovative AblaView optically guided ablation technology
enables clinicians to finally confirm in real time the creation of
transmural scars without relying on a surrogate marker. The gravity of
this innovation is the potential to reduce recurrence rates of AF,
improve patient care, and provide a more cost-effective solution for the
treatment of cardiac arrhythmias in today's value-based medicine
environment. MedLumics has a stellar team of professionals focused on
developing innovative product solutions that offer clinicians better
options for treating patients who suffer from AF and other arrhythmias."

MedLumics also added new technical expertise to its leadership team with
the appointment of Giovanni Leo to the board of directors. Before
joining MedLumics' board, Leo served as vice president of research and
development for St. Jude Medical. He also previously co-founded and
served as chief technology officer for Endosense, which invented the
novel contact-force sensing catheter ablation technology for the
treatment of cardiac arrhythmias and was acquired by St. Jude in 2013.
Leo's extensive industry and engineering background will help guide
MedLumics in its efforts to further advance optically guided minimally
invasive instruments.

"There is a growing need for new technologies to further advance the
catheter ablation treatment of arrhythmias, and MedLumics has an
opportunity to deliver on this with its highly advanced optics
technology," said Leo. "I look forward to lending my expertise as the
company focuses on raising the bar in this field."

Olivier Litzka, MedLumics' chairman of the board, noted, "With Jim and
Giovanni joining at the top management level, and with some further
technical AF medtech experts having recently come to work at the
company, MedLumics has nearly completed its leadership team. With such
profound medtech company building and electrophysiology expertise along
with the outstanding technology platform developed by the founders,
MedLumics is in good shape to deliver on its technical and clinical

AF is the most common type of heart arrhythmia. An estimated 33.5
million people worldwide suffered from AF in 20101, and
prevalence of the disease is expected to increase as the number of
people over the age of 65 continues to expand2. Although many
technologies have emerged over the last several years to improve the
catheter ablation treatment of AF, the procedure remains highly complex
and in part difficult to predict. Broad registries reveal recurrence
rates of up to 60 percent at the one-year follow-up time point. The
major widely accepted cause of recurrence after initially successful
treatment is pulmonary vein reconnection due to ineffective lesion

MedLumics' frontline product, AblaView, is a catheter-based
radiofrequency (RF) ablation technology that optically guides catheter
positioning and ablation treatment strategy using Optical Coherence
Reflectometry (OCR). AblaView's proprietary multibeam technology
provides real-time, direct visual, confirmation of catheter contact,
contact stability, and lesion transmurality during tissue ablation,
reducing recurrence rates and reducing procedure technical complexity
while increasing procedural safety3. Although AF patients are
expected to benefit most from this innovation, AblaView is a platform
technology with multiple therapeutic application using RF ablation. The
company is currently completing development of the AblaView Multibeam
catheter and preparing for first in human clinical studies.

Earlier this year, MedLumics announced it raised 34.4 million Euros in
financing to help advance the product and clinical development of the
company's AblaView catheter. The financing was the largest in the
history of medtech in Spain and one of the largest in Europe in 2017.

About MedLumics

Founded in 2009, MedLumics is an ISO13485 and ISO9001 certified
cardiology device company specializing in optically guided medical
devices. Its proprietary integrated optics platform technology combines
optical and electrical components in a miniature chip, enabling for the
first time multi-view optical sensing for high-quality real-time images
during cardiac ablation. The systems allow physicians to improve
diagnostic and therapeutic procedures through a non-invasive optical
evaluation of tissue. MedLumics is backed by Edmond de Rothschild
Investment Partners, Seroba Lifesciences, Innogest, Ysios, Caixa, and an
undisclosed corporate partner. For more information, visit

  1. Chugh A., et al. Worldwide Epidemiology of Atrial Fibrillation: A
    Global Burden of Disease 2010 Study. Circulation. Dec. 17, 2013.
  2. CDC.
    Accessed Jan. 11, 2017.
  3. González-Suárez, A., Herranz, D., Berjano, E., Rubio-Guivernau, J. L.
    and Margallo-Balbás, E. (2017), Relation
    between denaturation time measured by optical coherence reflectometry
    and thermal lesion depth during radiofrequency cardiac ablation:
    Feasibility numerical study
    . Lasers Surg. Med..

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