TriSalus Life Sciences®, Inc. (“TriSalus” or the “Company”), an
oncology company in the process of going public through a business
combination transaction (the “Business Combination”) with MedTech
Acquisition Corporation (Nasdaq: MTAC) (“MedTech” or “MTAC”), today
announced that James “Jim” Alecxih has joined the Company in the
newly created role of President, Device Technology Business.
Mr. Alecxih brings to TriSalus more than 30 years of experience
in product development, launch and marketing strategies. His
responsibilities will include overseeing the growth and development
of TriSalus’ TriNav® Infusion System (“TriNav®”), including device
engineering, device quality, sales, marketing, and market access.
Used in over 17,000 procedures, TriNav® is a FDA-cleared therapy
delivery technology that leverages the Pressure-Enabled Drug
Delivery™ (“PEDD™”) method to improve therapy uptake and tumor
response.
“Jim’s experience in successfully manufacturing, commercializing
and bringing to market novel medical devices is ideally suited to
the work we are doing at TriSalus to improve treatments for
patients with liver and pancreatic cancers,” said Mary Szela, CEO
and President of TriSalus. “Our TriNav® Infusion System is in its
growth stage, and we are confident that Jim will help us capture
the opportunities ahead to take the Company to the next level. We
welcome Jim to TriSalus and I look forward to working together to
improve the lives of patients through our disruptive
technology.”
Jim Alecxih commented, “I am excited to join TriSalus during
this pivotal period for the Company. Over the course of my career,
I’ve worked with a number of innovative medtech companies, and I
was drawn to TriSalus because of the Company’s unique platform and
the ways in which its TriNav® system can improve therapeutic
delivery and tumor targeting. I look forward to collaborating with
Mary Szela, Dr. Katz and the rest of the team to enable better
cancer treatment for patients and drive enhanced outcomes across
multiple indications.”
Prior to joining TriSalus, Mr. Alecxih served as President and
CEO of ViveBio Scientific, a medical device company focused on
blood transport and storage systems. Previously, he served as Chief
Commercial Officer of ViewRay, an early-stage radiation oncology
company, where he managed global sales, marketing, and training. He
also spent 15 years at Intuitive Surgical, Inc., maker of the da
Vinci surgical and Ion endoluminal systems, where he led an
850-person sales organization across the U.S. and Canada and
exceeded revenue targets for 51 consecutive quarters.
About TriSalus and Its Proposed Business Combination with
MedTech
TriSalus is an oncology company integrating immunotherapy with
disruptive delivery technology to transform the treatment paradigm
for patients with liver and pancreatic tumors.
TriSalus’ proprietary platform approach addresses immune
dysfunction in liver and pancreatic tumors by combining its drug
delivery technology with immunotherapeutics. The TriSalus platform
comprises the TriNav® Infusion System and SD-101, a class C
toll-like receptor 9 (TLR9) agonist. TriNav® is an FDA-cleared
device that is designed to administer established and emerging
therapeutics. SD-101, the Company’s investigational TLR9 agonist,
is being delivered via TriNav® to selected sites, including tumors
in the liver. TriNav® is the latest TriSalus asset for the
proprietary PEDD™ method of administration which has been shown to
overcome intratumoral pressure through modulation of pressure and
flow to increase delivery of therapeutic agents.
As previously announced on November 14, 2022, TriSalus has
entered into a definitive merger agreement with MedTech (the
“Merger Agreement”), a publicly traded special purpose acquisition
company in connection with the proposed business combination and
related transactions between the parties. Upon the closing of the
transaction, which is expected to occur in the second quarter of
2023, the combined company will be a publicly traded company and
its common stock is expected to be listed on the NASDAQ Stock
Exchange under the ticker “TLSI.” The transaction is subject to the
satisfaction of the necessary regulatory approvals and customary
closing conditions, including the approval of MedTech’s
shareholders.
About MedTech Acquisition Corporation
MedTech is a blank check company formed for the purpose of
effecting a merger, share exchange, asset acquisition, share
purchase, reorganization or similar business combination with one
or more businesses or entities. MedTech has stated a focus on the
medical technology industry in the United States and other
developed countries.
Changes and Additional Information in Connection with SEC
Filing
The information in this communication has not been reviewed by
the U.S. Securities and Exchange Commission (“SEC”) and certain
information may not comply in certain respects with SEC rules. MTAC
filed with the SEC a registration statement on Form S-4 (File No.
333-269138) (as amended, the “Registration Statement”), which
includes a proxy statement/prospectus of MTAC that will be both the
proxy statement to be distributed to holders of MTAC’s common stock
in connection with its solicitation of proxies for the vote by
MTAC’s stockholders with respect to the Business Combination and
other matters as may be described in the Registration Statement, as
well as the prospectus relating to the offer and sale of the
securities to be issued in the Business Combination. The
Registration Statement is not yet effective. The Registration
Statement, including the proxy statement/prospectus contained
therein, when it is declared effective by the SEC, will contain
important information about the Business Combination and the other
matters to be voted upon at a meeting of MTAC’s stockholders to be
held to approve the Business Combination and other matters (the
“Special Meeting”). MTAC may also file other documents with the SEC
regarding the Business Combination. MTAC stockholders and other
interested persons are advised to read, when available, the
Registration Statement, including the proxy statement/prospectus
contained therein, as well as any amendments or supplements
thereto, because they will contain important information about the
Business Combination. When available, the definitive proxy
statement/prospectus will be mailed to MTAC stockholders as of a
record date to be established for voting on the Business
Combination and the other matters to be voted upon at the Special
Meeting.
Forward-Looking Statements
This communication contains certain “forward-looking statements”
within the meaning of the United States federal securities laws
regarding MTAC’s or TriSalus’ expectations, hopes, beliefs,
assumptions, intentions or strategies regarding the future
including, without limitation, statements regarding: (i) the
potential of TriSalus’ proprietary PEDD™ method to improve therapy
uptake and tumor response and (ii) expectations for continuing
program development and capturing future sales opportunities. These
forward-looking statements generally are identified by words such
as “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “strive,” “would,”
“will” and similar expressions or the negative or other variations
of such statements. These statements are predictions, projections
and other statements about future events that are based on various
assumptions, whether or not identified in this communication and on
the current expectations of MTAC’s and TriSalus’ respective
managements and are not predictions of actual performance and, as a
result, are subject to risks and uncertainties.
Many factors could cause actual results or developments to
differ materially from those expressed or implied by such
forward-looking statements, including but not limited to: (i) the
risk that the Business Combination may not be completed in a timely
manner or at all, which may adversely affect the price of MTAC’s
securities; (ii) the risk that the Business Combination may not be
completed by MTAC’s business combination deadline and the potential
failure to obtain an extension of the business combination
deadline; (iii) the failure to satisfy the conditions to the
consummation of the Business Combination, including the approval of
the Merger Agreement by the stockholders of MTAC, the satisfaction
of the minimum cash amount following any redemptions by MTAC’s
public stockholders, and the receipt of certain governmental and
regulatory approvals; (iv) the lack of a third-party valuation in
determining whether or not to pursue the Business Combination on
the terms set forth in the Merger Agreement; (v) the occurrence of
any event, change or other circumstance that could give rise to the
termination of the Merger Agreement; (vi) the receipt of an
unsolicited offer from another party for an alternative transaction
that could interfere with the Business Combination; (vii) the
effect of the announcement or pendency of the Business Combination
on TriSalus’ business relationships, operating results and business
generally; (viii) risks that the Business Combination disrupts
current plans and operations of TriSalus; (ix) the outcome of any
legal proceedings that may be instituted against TriSalus or MTAC
related to the Merger Agreement or the Business Combination; (x)
the ability to maintain the listing of MTAC’s securities on the
Nasdaq; (xi) changes in business, market, financial, political and
legal conditions; (xii) unfavorable changes in the reimbursement
environment for TriSalus’ products; (xiii) TriSalus’ product
candidates not achieving success in preclinical or clinical trials
or not being able to obtain regulatory approval, either on a timely
basis or at all or subject to any conditions that negatively impact
TriSalus’ ability to commercialize the applicable product
candidates; (xiv) TriSalus being unable to continue to grow TriNav®
sales; (xv) the size of the addressable markets for TriNav® and
SD-101, if successfully developed and approved by the applicable
regulatory authorities, being less than TriSalus currently
estimates; (xvi) TriSalus’ ability to successfully commercialize
any product candidates that it successfully develops and that are
approved by applicable regulatory authorities; (xvii) TriSalus’
ability to continue to fund preclinical and clinical trials for
SD-101; (xviii) TriSalus’ ability to partner with other companies;
(xix) future economic and market conditions; (xx) the development,
effects and enforcement of laws and regulations affecting TriSalus’
business or industry; (xxi) TriSalus’ ability to manage future
growth; (xxii) TriSalus’ ability to maintain and grow its market
share; (xxiii) the effects of competition on TriSalus’ business;
(xxiv) the ability of MTAC or the combined company to raise
additional financing in connection with the Business Combination or
to finance its operations in the future; (xxv) the ability to
implement business plans, forecasts and other expectations after
the completion of the Business Combination, and identify and
realize additional opportunities; (xxvi) costs related to the
Business Combination; (xxvii) the failure to realize the
anticipated benefits of the Business Combination or to realize
estimated pro forma results and the underlying assumptions,
including with respect to estimated stockholder redemptions; and
(xxviii) other risks and uncertainties indicated from time to time
in the Registration Statement, including those under the “Risk
Factors” section therein and in MTAC’s other filings with the SEC.
The foregoing list of factors is not exclusive. MTAC’s other SEC
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those expressed or implied in the forward-looking
statements. Forward-looking statements speak only as of the date
they are made. Readers are cautioned not to put undue reliance on
forward-looking statements, and none of MTAC, TriSalus, or any of
their respective representatives assume any obligation and do not
intend to update or revise these forward-looking statements,
whether as a result of new information, future events, or
otherwise. None of MTAC, TriSalus, or any of their respective
representatives gives any assurance that either MTAC or TriSalus
will achieve its expectations.
Participation in Solicitation
MTAC and TriSalus and their respective directors and executive
officers, under SEC rules, may be deemed to be participants in the
solicitation of proxies of MTAC’s stockholders in connection with
the Business Combination. Investors and security holders may obtain
more detailed information regarding the names and interests in the
Business Combination of MTAC’s directors and officers in MTAC’s
filings with the SEC, including MTAC’s registration statement on
Form S-1, which was originally filed with the SEC on November 30,
2020, as amended, MTAC’s 2021 Form 10-K, and the Registration
Statement. To the extent that holdings of MTAC’s securities have
changed from the amounts reported in the Registration Statement,
such changes have been or will be reflected on Statements of Change
in Ownership on Form 4 filed with the SEC. Information regarding
the persons who may, under SEC rules, be deemed participants in the
solicitation of proxies from MTAC’s stockholders in connection with
the Business Combination are included in the Registration Statement
and will be set forth in the definitive proxy statement/prospectus
forming a part of the Registration Statement. Investors and
security holders of MTAC and TriSalus are urged to carefully read
in their entirety the proxy statement/prospectus and other relevant
documents that will be filed with the SEC, when they become
available, because they will contain important information about
the Business Combination.
Investors and security holders will be able to obtain free
copies of the proxy statement/prospectus and other documents
containing important information about MTAC and TriSalus through
the website maintained by the SEC at www.sec.gov. Copies of the
documents filed with the SEC by MTAC can be obtained free of charge
by directing a written request to MedTech Acquisition Corporation
at 48 Maple Avenue, Greenwich, CT 06830.
INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN
APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY
AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS
OF THE OFFERING THEREOF OR THE ACCURACY OR ADEQUACY OF THE
INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS
A CRIMINAL OFFENSE.
No Offer or Solicitation
This communication shall not constitute an offer to sell, a
solicitation of an offer to buy or a recommendation to purchase any
securities, or the solicitation of any proxy, vote, consent or
approval in any jurisdiction in connection with the Business
Combination, nor shall there be any offer, solicitation or sale of
securities in any jurisdiction in which the offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of such jurisdictions. This communication
is restricted by law; it is not intended for distribution to, or
use by any person in, any jurisdiction where such distribution or
use would be contrary to local law or regulation. No offering of
securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the U.S. Securities Act of 1933,
as amended.
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Media Contact: press@trisaluslifesci.com Investor
Contact: Aaron Palash / Gregory Klassen / Allison Sobel Joele
Frank, Wilkinson Brimmer Katcher +1 212 355 4449
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