Novostia Announces New CEO and Secures Additional CHF 5.6 million in Funding

Novostia, a pioneering medical technology company, specializing in the development of a disruptive heart valve prosthesis, at clinical stage, today announces a leadership transition alongside the successful completion of a CHF 5.6 million fund raise to further accelerate the company’s development efforts and advance its clinical evidence base. The Board of Directors appoints Mrs. Soad El Ghazouani as the new Chief Executive Officer, effective immediately, succeeding Mr. Alain Barbal who will join the Board of Directors.

Appointment of New CEO

With over 25 years of global experience, more specifically in the development and marketing of breakthrough innovations in the cardiovascular field, Soad brings an extensive experience and a proven ability in leading innovative companies through rapid development and growth phases. She recently co-founded and served as CEO of T-Heart. Prior to this, Soad held several executive and senior management positions in various MedTech companies ranging from start-ups to multinational corporations. Soad holds an MBA in international business and a biomedical engineering degree.

“I am honored to join Novostia at such a pivotal time for our company. The company’s groundbreaking TRIFLO Heart Valve has already demonstrated immense potential to transform patient care, and I am eager to guide our talented team as we continue to push the boundaries of innovation and deliver exceptional values to patients, employees and shareholders.”

Successful Fundraising of Additional CHF 5.6 million to Fuel Clinical Phase and Bridge to Series B

Novostia is also pleased to announce that it has successfully raised additional CHF 5.6 million in 2024. The funds will be instrumental in accelerating the company's ongoing development efforts, advancing clinical studies, and preparing for the next financial round.

This financing reflects the confidence investors have in Novostia's innovative solutions, and the significant progress made in the development and on-going PILATUS clinical trial of the TRIFLO Heart Valve, with the early results presented at the EACTS (European Association for Cardio-Thoracic Surgery) in October 9-12, 2024, in Lisboa, Portugal.

These milestones represent a strong endorsement of Novostia's vision and strategic direction. The Board of Directors has full confidence that this leadership transition, coupled with the fresh capital injection, will ensure the continued success of Novostia.

“We are immensely grateful to our investors and partners for their unwavering support,” said Alexander Valkenberg, Chairman of the Board of Directors. “The successful fundraising and the arrival of Soad come at a pivotal moment for Novostia, we remain committed to our mission of improving patient outcomes and are confident that these developments will drive us closer to that goal.”

About Novostia

Novostia is a privately held medical device company incorporated in 2017 and based at Biopôle in Lausanne, Switzerland, developing an innovative artificial heart valve. The proprietary TRIFLO valve is currently undergoing human clinical trials. For more information, please visit www.novostia.com.

Caution: Novostia technology is an investigational device not yet approved for sale.

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