Haggerty succeeds Lloyd Mencinger, who intends to step down after nine years as CEO. He plans to support the transition through September before moving into retirement.
Pleasanton, California-based Aqua Medical’s new CEO joins as the company advances its proximal intestinal mucosal ablation (PIMA) procedure for treating type 2 diabetes. The technology uses radiofrequency vapor ablation (RFVA) through a standard endoscope without fluoroscopy for the minimally-invasive, outpatient PIMA procedure in the duodenum.
PIMA aims to replicate the metabolic benefits of gastric bypass while avoiding the invasiveness of the procedure. It seeks to restore metabolic signaling and address the root drivers of insulin resistance.
Read more about the technology at Medical Design & Outsourcing.
Last week, Aqua Medical announced the first patients treated in an FDA investigational device exemption (IDE) pilot evaluating PIMA. The cases build on clinical evidence from 66 patients treated outside the U.S. shared earlier this year.
Now, the company has added Heggerty, who brings 35 years of medtech leadership experience. That includes more than 30 years in gastroenterology across senior sales, marketing and business development roles. His track record includes stints at Boston Scientific, Covidien (now Medtronic), BÂRRX Medical, Gyrus/ACMI, Pentax Medical and Procter & Gamble.
As VP of U.S. and global sales at BÂRRX Medical, he grew revenue to $40 million while leading the commercialization of radiofrequency ablation for Barrett’s Esophagus, leading to BÂRRX’s 2012 acquisition by Covidien.
Commentary from Aqua Medical leadership
Greg Barrett, chair of the board at Aqua Medical, said:
“I have had the opportunity to work with Bob for more than 30 years in various capacities, including multiple introductions of new technology that have had a profound impact on how medicine is practiced. Bob led the commercialization of radiofrequency ablation for Barrett’s Esophagus, a technology that transformed the standard of care, and his relationships within the gastroenterology community are unsurpassed. As Aqua enters this critical US clinical phase, there is no one better positioned to lead our clinical and commercial strategy.”
Haggerty said:
“I’ve spent my career bringing paradigm-shifting GI technologies to market, and I’ve rarely seen an opportunity as significant and impactful as this one. I saw firsthand what radiofrequency ablation did for patients with Barrett’s Esophagus. Aqua’s platform now brings that same energy-based approach to type 2 diabetes, one of the largest unmet needs in medicine today. I’m excited to work alongside the Aqua team, board and clinical investigators to advance this technology through pivotal trials and toward patients who need it.”
