March 10, 2022
BURLINGAME, Calif., March 10, 2022 — Magnus Medical, Inc., a medical device company developing a novel, rapid-acting brain stimulation technology designed to treat adults suffering from neuropsychiatric disorders, today announced the appointment of three executives to key positions on the leadership team. Erica Lundmark joins as vice president of hardware engineering, Tammy Morton joins as vice president of clinical affairs, and Timothy Hale joins as vice president of marketing.
These new appointments, combined with Magnus’ $25M Series A financing and Breakthrough Device Designation awarded by the U.S. FDA, continue the company’s momentum towards the development of its innovative and accelerated approach* to treat major depression.
“We are excited to expand our team by adding three very impressive executives,” said Brett Wingeier, Ph.D., co-founder and CEO of Magnus Medical. “Erica, Tammy, and Timothy bring deep industry expertise and highly successful track records in development, validation, and commercialization of groundbreaking medical devices.
“All three individuals are industry leaders and will play critical roles at Magnus as we further develop our technology into an integrated treatment system and evaluate clinical data to expand access to individualized, targeted neuromodulation for those who need it most—the millions of people who suffer from severe, refractory depression,” continued Dr. Wingeier.
Erica Lundmark joins Magnus with over 20 years of engineering experience in the medical device industry with a focus on hardware, systems, electrical, wireless communications, and medical standards compliance for startups and mid-sized companies. Most recently, she was senior director of electrical engineering for InCube Labs, where she was involved in the characterization, verification, and manufacture of an active implantable medical device and its associated external products for the treatment of pain. Her previous tenures also include Sacramed, an InCube early-stage company where she was senior director of electrical engineering, as well as NeuroPace and St. Jude Medical (formerly Ventritex).
Tammy Morton comes to Magnus with more than 20 years of experience in planning and executing clinical trials to support regulatory submissions for class II and class III medical devices in a variety of therapeutic areas at both large corporations and startups. Most recently, she was the head of clinical affairs for CapsoVision, Inc., where she implemented the study design, operational planning, and execution to support regulatory approval of a colon capsule endoscope. Prior to this, she was vice president of clinical affairs for Halo Neuroscience. Ms. Morton’s previous tenures also include Radial Medical, where she was vice president of clinical affairs, as well as senior management roles at Gynesonics, Abbott Vascular, and Bailer Research.
Timothy Hale joins Magnus with over 20 years of medical device and pharmaceutical industry experience in launching and commercializing disruptive technologies and indications. Before joining Magnus, he was the senior director of global marketing for AngioDynamics, where he led the commercial launch of the Auryon laser atherectomy system, an innovative treatment for peripheral artery disease. Prior to AngioDynamics, he was senior director of marketing at Neuronetics for NeuroStar Advanced Therapy, a transcranial magnetic stimulation therapy for major depression. Mr. Hale’s previous tenures also include Spectranetics, The Selva Group, LLC, LungRX, Boehringer Ingelheim Pharmaceutical Inc., and Forest Pharmaceuticals.
Magnus Medical is a privately held medical device company developing the Magnus Neuromodulation System with SAINT technology, a novel treatment that has demonstrated profound, rapid results in intractable depression in an investigational setting. Recently, the American Journal of Psychiatry published results from a double-blinded randomized controlled trial (RCT) evaluating SAINT that shows 79% of people in the active treatment arm entered remission from their depression compared to 13% in the sham treatment arm. In an earlier pilot trial evaluating SAINT, 19 of 21 people (90%) entered remission. The restoration of healthy neural activity for many people was life-changing, and within five days, symptoms (including thoughts of suicide) improved dramatically. This new approach is designed to be delivered on an accelerated timeline and is precisely tailored to each person’s brain connectivity. Magnus is backed by JAZZ Venture Partners and Red Tree Venture Capital. More information is available at https://www.magnusmed.com.
*The Magnus System, currently an investigational device, is expected to require 510(k) clearance from the U.S. FDA and is not yet commercially available. CAUTION – Investigational device. Limited by Federal (or United States) law to investigational use.