Koya is a Rosenman Innovator company.
From the press release.
Koya Medical, a healthcare company focused on developing breakthrough treatments for lymphedema and venous diseases, announced today that it has received Food and Drug Administration (FDA) 510(k) clearance for its active compression therapy system Dayspring™ for the treatment of lymphedema and venous diseases that impact lymphatic flow in lower extremities. The company also announced the appointments of three veteran executives to its leadership team to support commercialization: Rick Biro, Head of Sales; Liesl Oldstone, Head of Market Access and Clinical Affairs; and Damian Rippole, Chief Financial Officer.
New Indication for Lymphedema in Lower Extremities, Representing 80% of the Lymphedema Market
Patients treated with Dayspring receive standard of care active compression therapy with a mobility-enabling wearable device designed with real life demands in mind. The Dayspring system includes a low-profile active garment made of soft, breathable mesh using Koya’s proprietary Flexframe™ technology; a smart, rechargeable, hand-held controller that can be worn on a lanyard; and a mobile app that allows users or their clinicians to program custom treatment options. Koya previously received FDA clearance for Dayspring for upper extremities in June 2020.
An estimated 20 million Americans live with lymphedema, a progressive, incurable condition where a buildup of protein rich fluid causes painful swelling in the arm, leg and/or other regions of the body.1
“Lymphedema can be physically and emotionally debilitating for patients, so a daily treatment option that enables mobility and allows them to receive treatment while continuing their daily life activities is a significant breakthrough,” said Andy Doraiswamy, Ph.D., Koya founder, President and CEO. “We are excited about this new indication and milestone, as well as the addition of three new esteemed executive leaders. Rick, Liesl and Damian bring a wealth of highly relevant experience building successful medical technology companies and will be invaluable in supporting Koya as it transforms lymphatic and vein care by providing access to our innovative products to patients all over the world.”
Appointments of Additional Executive Leaders to Propel Commercialization Plans
As Head of Sales, Rick Biro will be responsible for building and executing Koya’s go-to-market sales strategy. He joins Koya after serving as Area Sales Director, Central US at PolarityTE where he was part of the commercial leadership team during the company’s most expansive growth period. Prior to joining PolarityTE, Rick spent more than 15 years in the lymphedema and wound care space where he held a number of leadership positions with Wright Therapy Products, BSN Medical and Galaxy Medical Products.
As Head of Market Access and Clinical Affairs, Liesl Oldstone will work to articulate the clinical value of the company’s highly differentiated product and minimize barriers for patients to access. Her leadership in market access, health economics and reimbursement has spanned more than two decades in both pharma and the medical device industry for industry-leading companies including ResMed, Bristol-Myers Squibb, Covidien (now Medtronic), Cordis (formerly J&J) and Eli Lilly & Company.
Damian Rippole is a strategic and operationally-focused CFO who brings more than 20 years of financial leadership experience in both private and public medical technology companies. Damian was most recently CFO at Ebb Therapeutics (acquired in a private transaction funded by leading global investment firm KKR), maker of an innovative FDA-cleared device for treating insomnia. Prior to that, Damian was Corporate Controller for Respironics, a global leader in the sleep and respiratory markets that was acquired by Philips for $5 billion in 2008. Following the acquisition, Damian led the global finance integration of Respironics into Philips and served as the group Controller for Philips Home Healthcare Solutions business.
An estimated 20 million Americans live with lymphedema, a progressive, incurable condition where a buildup of protein rich fluid causes painful swelling in the arm, leg and/or other regions of the body.2 For most, lymphedema requires lifelong maintenance and various levels of therapy to control swelling and pain. Lymphedema is commonly caused by cancer and treatment for cancer due to damage of the lymph system from the tumor itself, radiation treatment or the surgical removal of lymph nodes.
About the DayspringTM System
The Dayspring system is the first wearable and mobility-enabled compression system designed with real life in mind. It is the first and only compression therapy option designed to enable movement, mobility and personalized care hat is unavailable with traditional compression therapy. The Dayspring system includes a low-profile active garment made of soft, breathable mesh using Koya’s proprietary Flexframe™ technology; a smart, rechargeable, hand-held controller that can be worn on a lanyard; and a mobile app that allows users or their clinicians to program custom treatment options.
Dayspring is FDA 510(k) cleared to treat lymphedema and other similar conditions that impact lymphatic flow in upper and lower extremities. Koya is currently in a limited pilot launch of Dayspring for upper extremities.
About Koya Medical
Koya Medical is a transformative healthcare company developing breakthrough treatments for lymphedema and venous diseases to increase movement, mobility and personalized care that is unavailable with traditional compression therapy. The privately held company was founded in 2018 with the mission to transform lymphatic and vein care through innovative patient-centric platforms. For company or product inquiry, contact firstname.lastname@example.org. Learn more atkoyamedical.com or follow the company on LinkedIn atwww.linkedin.com/company/koyamedical/.