Los Angeles, CA, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Endonovo Therapeutics, Inc. (OTCQB: ENDV) today named Ira Weisberg as President and Chief Commercial Officer of its Medical Division.
“Ira will be responsible for expanding global sales and marketing operations, including: business development, acquisitions and fostering product innovation while overseeing advancement of SofPulse® and Roma® Pulsed Electro Magnetic Frequency (PEMF) medical devices distribution globally,” according to Chairman and CEO Alan Collier.
Weisberg has more than four decades of experience in healthcare and pharmaceutical management, business development, finance, sales and marketing. Weisberg’s past work experience includes positions as President and CEO of Amherst Pharmaceuticals, Senior VP and Corporate Development Officer at Neurotrope Bioscience. Other executive medical administrative experience include executive positions at ALPHAVAX, INC., LIFECYCLE PHARMA, CHUGAI PHARMA USA, HAEMACURE CORPORATION and AVENTIS BEHRING.
Throughout his career, Weisberg led negotiations and signed licensing deals for strategic acquisitions, distribution and development deals for multiple companies in the medical device and pharmaceutical industry. His expertise is in developing strategies to guide emerging medical companies to advance revenue and enhance company diversity, developmental pipelines and geographic reach particularly in fast-growing emerging medical device and pharmaceutical markets.
Key to Strategy
"Acquisitions and distribution licensing agreements are a key part of our strategy to complement and grow our SofPulse® and Roma® PEMF portfolio globally,” according to Collier.
As Senior business development director with AVENTIS BEHRING, a global leader in recombinant albumin, Weisberg negotiated out-licensing, supply, distribution and development agreements with major pharmaceutical companies in excess of $100 million and contributed to revenues for the company’s specialty product valued at $500 million while assisting the company to be valued in excess of $750 million.
Collier pointed out: “Simply having Ira’s leadership and his abilities as a lead negotiator and his past performance to close large distribution deals brings a level of gravitas to the company. He understands the unique value proposition our revolutionary medical technology offers medical providers to overcome the global opioid crisis while helping patients everywhere solve pain and inflammation conditions effectively and drug-free. Over the progression of his career, Weisberg has specialized in the marketing, operations and product development with established pharmaceutical and early-stage biotechnology companies (public and private). He has structured, participated in and completed numerous transactions including mergers and acquisitions, equity and joint ventures.”
Challenging the Medical Status Quo
Weisberg said in accepting the position: "I am thrilled to be joining the Endonovo team at such an exciting time. I look forward to applying my experience and industry knowledge to challenge the medical status quo of using narcotics, opioids, NSAID’s and other invasive and unhealthy pain and inflammation treatment solutions by leveraging industry wide distribution of a revolutionary non-invasive medical technology. I'm excited to help guide this effort moving forward."
As Vice President of Operations for HAEMACURE CORPORATION, a US market leader in plasma-derived surgical hemostats and adhesives, Wiesberg established and positioned the company globally through negotiations and signing of multinational licensing and joint venture agreements. He guided growth and generated revenue more than $30 million in an IPO, providing capital for growth and product development.
“Having the opportunity to lead negotiations and development for distribution and acquisitions of Endonovo’s PEMF line of medical products is something I could not pass up,” Weisberg said.
Endonovo’s current portfolio of assets include SofPulse® and Roma® PEMF medical devices and 27 patents. The Company’s current Electroceutical® therapeutic PEMF devices use pulsed short-wave radio frequency at 27.12 MHz. Both medical devices are noninvasive, drug-free and have been FDA-cleared for the palliative treatment of soft tissue injuries and post-operative pain and edema. Both medical products are CE (European Union) Marked for the promotion of wound healing and the palliative treatment of pain and post-surgical edema.
Aggressive Global Growth Strategy
“With an aggressive global growth strategy and a well-developed diversified sales and marketing directives, I believe that Endonovo’s distribution and sales revenues have the potential of reaching over $100 million in the next few years,” Weisberg concluded.
Collier emphasized: “Through Ira’s guidance, we expect widespread growth in our historic medical sector through our PEMF line of medical devices. His knowledge and ability to negotiate and sign large distribution and development deals fits perfectly into Endonovo’s plans. As such, together we will explore strategic alternatives for investment and expansion amongst larger, better-known participants in the medical device/technology markets. This should optimize significant expansion of distribution channels to maximize the shareholder value potential of its SofPulse® Pulsed Electro Magnetic Frequency (PEMF) proprietary assets.”
“We believe that both our legacy medical division and our newly established mergers and acquisitions divisions will grow simultaneously and become more competitive, marketable and financeable to current investors and debtholders, potential investors, partners and other investment opportunities. By evaluating Endonovo as a ‘pure play’ in each discrete sector, we believe that we will obtain a more favorable overall valuation to our shareholders,” Collier concluded.
About Endonovo Therapeutics, Inc.
Endonovo Therapeutics is now structured into two divisions: Legacy – a commercial-stage developer primarily of noninvasive wearable Electroceuticals® therapeutic devices for pain relief, general wellness and wound curatives with many of its products marketed under the SofPulse® brand name; and its Build Up Strategy – acquiring complementary specialty service providers in the construction industry.
Safe Harbor Statement
This press release contains information that constitutes forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements, trends, analysis, and other information contained in this press release including words such as "anticipate," "believe," "plan," "estimate," "expect," "intend," and other similar expressions of opinion, constitute forward-looking statements. Any such forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from any future results described within the forward-looking statements. Risk factors that could contribute to such differences include those matters more fully disclosed in the Company's reports filed with the Securities and Exchange Commission. The forward-looking information provided herein represents the Company's estimates as of the date of the press release, and subsequent events and developments may cause the Company's estimates to change. The Company specifically disclaims any obligation to update the forward-looking information in the future. Therefore, this forward-looking information should not be relied upon as representing the Company's estimates of its future financial performance as of any date subsequent to the date of this press release.
Gregory A. McAndrews
Greg McAndrews & Associates