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SetPoint Medical Appoints Murthy Simhambhatla as President and Chief Executive Officer

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Industry veteran brings biopharma and medical device company
leadership experience as SetPoint advances its proprietary bioelectronic
medicine platform

SetPoint
Medical
, a clinical-stage company developing bioelectronic therapy
for chronic inflammatory diseases, announced today the appointment of
Murthy Simhambhatla, Ph.D. as President and Chief Executive Officer. Dr.
Simhambhatla succeeds Anthony Arnold, who has decided to pursue other
opportunities.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180813005153/en/

SetPoint Medical CEO Murthy Simhambhatla (Photo: Business Wire)

SetPoint Medical CEO Murthy Simhambhatla (Photo: Business Wire)

Dr. Simhambhatla is a veteran healthcare executive with extensive
experience across both large and small companies in the medical device,
diagnostics and biopharma sectors. He has extensive experience in
advancing R&D programs successfully through clinical development,
manufacturing scale-up and commercialization, as well as in M&A and
Initial Public Offerings.

"The depth and breadth of Murthy's expertise make him an ideal fit to
lead SetPoint through the next phase of pivotal clinical study and
commercialization," said Allan Will, Chairman of the Board of SetPoint
Medical. "Murthy is uniquely qualified to advance SetPoint Medical to
its full potential, building on the strong foundation of our proprietary
bioelectronic medicine platform."

Mr. Will continued, "The Board and I would like to thank Tony for
successfully leading the development of SetPoint's proprietary device
and advancing it through a U.S. first-in-human study. We wish Tony
continued success in his next endeavor."

"SetPoint's therapy offers a novel pathway to address unmet needs for
patients with autoimmune diseases," said Dr. Simhambhatla. "I'm
delighted to have the opportunity to lead SetPoint and to work with its
innovative team to develop and commercialize our therapy for patients
with autoimmune diseases."

Prior to joining SetPoint, Dr. Simhambhatla was the President and Chief
Executive Officer of Evolus, a medical aesthetics company with a lead
biologic drug, DWP-450, which he led to an IPO in 2018. Prior to Evolus,
Dr. Simhambhatla was a Senior Vice President at Abbott Laboratories and
President of Abbott Medical Optics, a $1B-plus global ophthalmic
business focused on cataract and refractive surgery. Dr. Simhambhatla's
experience at Abbott includes leading the Ibis Biosciences division and
running international commercial operations in Australia and New
Zealand. Dr. Simhambhatla joined Abbott through the acquisition of
Guidant's vascular division where he led the development of the Xience™
drug eluting stent.

About SetPoint Medical

SetPoint
Medical
is a privately held biomedical technology company dedicated
to treating patients with debilitating autoimmune diseases using
bioelectronic medicine. SetPoint's approach is intended to offer
patients and providers a treatment alternative
for rheumatoid arthritis, Crohn's disease and other chronic inflammatory
diseases with potentially less risk and cost than drug therapy.

SetPoint is developing a novel bioelectronic
medicine platform
that stimulates the vagus nerve with digital doses
of electricity designed to activate the inflammatory reflex to produce a
systemic immunorestorative effect. The company has published positive
results from its proof-of-concept trial in rheumatoid arthritis in Proceedings
of the National Academy of Sciences
(PNAS). SetPoint is evaluating
the company's proprietary device in a U.S. pilot trial for treatment of
drug-refractory RA patients. Current investors
in the company include Morgenthaler Ventures, New Enterprise Associates
(NEA), Topspin Partners, MS Pace, GlaxoSmithKline's Action Potential
Venture Capital and Boston Scientific. For more information, visit www.setpointmedical.com.

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