Luis Malave, COO for Insulet Corp. (NSDQ:PODD), is jumping ship effective August 31 to man the helm of Palyon Medical Corp.
Malave’s eight-year tenure at the Bedford, Mass.-based insulin management system maker saw the company ramp up its capabilities to produce 1 million of Insulet’s flagship OmniPods per quarter.
"During his tenure at the Company, Luis formed a talented and experienced team that has been instrumental in scaling-up Insulet’s manufacturing processes," CEO Duane DeSisto said in prepared remarks. "We appreciate Luis’ contributions and wish him success in his new role."
Insulet said its operations be co-managed by vice president of quality & regulatory affairs Ruthann DePietro and vice president of operations & engineering Kevin Schmid until Malave’s replacement is found.
New York City-based Palyon Medical, which drummed up a $21 million Series A round last year, is developing treatments for chronic pain, spasticity and other neurological conditions using a programmable, implantable drug-device combination.