LAWRENCE, Mass., July 24 NxStage Medical, Inc.(Nasdaq: NXTM), a leading manufacturer of innovative dialysis products, todayannounced the addition of Jonathan Silverstein, General Partner of OrbiMedAdvisors, LLC, ("OrbiMed"), to its Board of Directors. NxStage elected arepresentative from OrbiMed to its Board in connection with the recentlyannounced private placement. The appointment of Mr. Silverstein fills acurrent vacancy on the Board and brings the number of members on NxStage'sBoard to eight.
"NxStage is pioneering a market with disruptive and innovative technologythat is designed to dramatically improve the quality of life for patients withESRD (end-stage renal disease)," stated Jonathan Silverstein. "I'm excited tojoin the team and to help NxStage achieve its strategic initiatives."
"Jonathan brings extensive industry insight and expertise within themedical device and biotechnology markets," said Jeff Burbank, Chief ExecutiveOfficer of NxStage Medical. "We believe that NxStage will significantlybenefit from Jonathan's experiences and we look forward to working with him aswe continue to build value for all our shareholders."
Mr. Silverstein is General Partner at OrbiMed, an asset management firmsolely focused in healthcare with several billion in assets under management.Mr. Silverstein joined OrbiMed in 1998 to focus on private equity investmentsand structured transactions of small-capitalization public biotechnology andmedical device companies. Prior to joining OrbiMed, Mr. Silverstein was theDirector of Life Sciences in the Investment Banking Department at SumitomoBank. Currently, Mr. Silverstein is the Chairman of Cerapedics, Gelesis andEnobia, and a director of superDimension, Ltd. He has been a former directoror observer in an additional dozen companies including: Insulet Corporation(PODD), LifeCell (sold to KCI), Given Imaging (GIVN), Cerexa (sold to ForestLabs), Peninsula Pharmaceuticals (sold to Johnson & Johnson), Predix (sold toEPIX), Avanir (AVNR), Orthovita (VITA), Auxillium (AUXL), Bioenvision (sold toGenzyme), Adiana (sold to Cytyc), and Emphasys Medical. Mr. Silverstein has aB.A. in Economics from Denison University and a J.D. and M.B.A. from theUniversity of San Diego.
About NxStage Medical
NxStage Medical, Inc. (Nasdaq: NXTM) is a medical device company,headquartered in Lawrence, Massachusetts, USA, that develops, manufactures andmarkets innovative products for the treatment of ESRD and acute kidneyfailure. For more information on NxStage and its products, please visit thecompany's website at http://www.nxstage.com.
This release contains "forward-looking statements" within the meaning ofthe Private Securities Litigation Reform Act of 1995. All statements containedin this release that are not clearly historical in nature are forward-looking,and the words "anticipate," "believe," "expect," "estimate," "plan," andsimilar expressions are generally intended to identify forward-lookingstatements. Examples of these forward-looking statements include statements asto the contributions Mr. Silverstein will make to the company's performanceand operating results, the anticipated benefits of the company's products, andthe future growth of the company. All forward-looking statements involverisks, uncertainties and contingencies, many of which are beyond NxStage'scontrol, which may cause actual results, performance, or achievements todiffer materially from anticipated results, performance or achievements.Certain factors which may affect future operating results are detailed inNxStage's filings with the Securities and Exchange Commission, including theQuarterly Report on Form 10-Q for the period ending March 31, 2008. Inaddition, the statements in this press release represent NxStage'sexpectations and beliefs as of the date of this press release. NxStageanticipates th