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IlluminOss Names New Finance Chief

IlluminOss Medical has named Martin Aschenbrener as vice president of finance. The East Providence, R.I.-based firm is a privately held, commercial stage medical device company that develops minimally invasive, customized orthopedic implants used for treating bone fractures.

Aschenbrener has more than two decades of operational leadership experience, that, according to company officials, will be important during the European commercialization of the company's Photodynamic Bone Stabilization System (PBSS).

The PBSS System is designed to allow physicians to repair bone fractures using a light-curable polymer contained within an expandable balloon catheter, to achieve bone stabilization. The procedure is made through a small percutaneous surgical approach providing patients and clinicians with a “fast, customized, method of orthopedic bone stabilization,” officials claim.

"Martin brings strong operational leadership in financial and information systems management during crucial growth phases to IlluminOss," said Dirk Kuyper, president and CEO of IlluminOss. "With an impressive list of accomplishments in all aspects of financial forecasting, resource allocation, fund management, accounting and controls, Martin's leadership experience in these critical areas will serve IlluminOss well as we build our international commercial operations and continue to develop and secure approval in the U.S."

Aschenbrener has held key leadership positions and consulting positions in companies of all sizes from start-up medical device companies, companies preparing for an initial public offering to consulting with Fortune 500 companies. He has a Bachelor of Arts degree in international finance as well as a bachelor’s degree in accounting.

"With this revolutionary fracture repair technology, IlluminOss is well positioned to achieve excellent growth in the coming months and years in the global orthopedic trauma market, which has not seen this level of innovation in quite some time," said Aschenbrener. "I look forward to playing a role in bringing this revolutionary technology to the clinicians and patients who need it most."

Founded in 2007, the company currently markets its products in international countries under a CE mark for approved clinical applications through both a direct sales force and distribution networks.

IlluminOss is funded by Foundation Medical Partners, New Leaf Venture Partners, Tekla Capital, Life Sciences Partners, SR One, Longwood Fund, Excel Venture Management, Pappas Ventures, Mieza Capital and Slater Technology.

The IlluminOss products are Investigational Devices; limited by Federal law to Investigational Use and are not approved for sale in the USA.

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