NeuroMetrix (NSDQ:NURO) tapped a veteran of the consumer businesses at Philips (NYSE:PHG) and Johnson & Johnson (NYSE:JNJ) to be its new senior vice president and general manager for its own over-the-counter pain management device.
Waltham, Mass.-based NeuroMetrix said it named Frank McGillin to develop its consumer business through retail distribution channels. McGillin helped build the Sonicare business at Oral Philips Healthcare and has had a hand in launching more than 50 new consumer products over a 20-year career, according to a press release.
In July the FDA granted 510(k) clearance for over-the-counter sales of the NeuroMetrix wearable chronic pain device, which is based on its Sensus pain management system, allowing the company to sell the device directly to consumers without a prescription. The Sensus device, which won 510(k) clearance from the FDA in 2012, uses non-invasive electrical stimulation of sensory nerves to alleviate pain. The OTC version of the device is in "late-stage development," according to the release.
"Frank’s business background is highly relevant to our consumer healthcare goals and the timing of his appointment is ideal," president & CEO Dr. Shai Gozani said in prepared remarks. "His immediate priorities will be development of our commercial strategy and extensive involvement in our ongoing product development program. These combined efforts target the launch of our first consumer wearable therapeutic device during 2015. We are very pleased to have Frank on board."
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