Galway, Ireland. 14 July 2020. Seroba’s portfolio company, Atlantic Therapeutics, a Galway-based MedTech and Femtech innovator, announces a transition in leadership to fulfill the potential of the INNOVO® brand in the large and under-served US Stress Urinary Incontinence market.
Atlantic Therapeutics CEO Steve Atkinson will hand over the CEO role to Susan Trent.
Susan joined Atlantic Therapeutics in November 2019 as SVP and GM, US. Based in Atlantic Therapeutics’ Boston, MA office, Susan has launched the company’s INNOVO® brand in the US and demonstrated its potential as a Category-disrupting direct-to-consumer solution for stress urinary incontinence (SUI).
Susan’s 20+ year career with GlaxoSmithKline makes her ideally suited to lead Atlantic Therapeutics in this exciting new growth phase. As an experienced senior Healthcare Executive, Susan has a strong track record leading teams to deliver large-scale, high-growth healthcare brands globally. Since the launch of INNOVO® into the US market in March this year, sales have exceeded initial expectations, gaining momentum and market-traction across the US month-by-month. The company closed an internal financing round in June and is planning a Series C raise early in 2021 to further accelerate sales growth in the US market as well as bring product innovation into the US market and elsewhere.
Speaking on behalf of the Board, Daniel O’Mahony, Partner with Seroba Life Sciences, said “we are delighted with the appointment of Susan as CEO. Susan’s wealth of experience and track-record in launching global consumer healthcare brands and brand building is a hugely positive addition for the Company.
In addition, the Board would very much like to thank Steve Atkinson for the leadership, vision and inspiration he has provided to Atlantic Therapeutics. Since its initial spin-out in 2017 through to new product launch of INNOVO in Europe and USA, Atlantic Therapeutics has grown rapidly and now offers a permanent solution to women all over the world who are suffering from stress urinary incontinence. The board would also like to thank Gordie Nye for his guidance and support to the board throughout his chairmanship, as Gordie elects to step down as Chairman.”
INNOVO® is a revolutionary device that offers women a safe, clinically effective and truly non-invasive choice to treat the root cause of bladder leaks rather than just the symptoms.
Simple to use and wearable, INNOVO® fits into a busy lifestyle. In the privacy of their own home, women can simply pull on what looks to be a pair of exercise shorts for a 30-minute pelvic floor workout. Innovative NMES (neuromuscular electrical stimulation) technology embedded in the shorts does the work to strengthen and re-educate their pelvic floor muscles, giving them the opportunity to live a leak-free life in as little as three months.
With an estimated 1 in 3 women suffering from SUI, the potential for INNOVO® to make a positive difference to women’s lives is huge.
Underpinned by compelling peer-reviewed science, INNOVO® has received numerous prestigious awards for innovation and technology, including 2019 European MedTech Company of the Year, the Irish Times Innovation Awards 2019 and the 2020 US Edison Award Gold Medal.
Results of a clinical study demonstrated that 80%¹ of INNOVO® users experienced significant improvements after four weeks, and 87%2 were considered “dry” or “near dry” after three months. INNOVO® has an excellent safety record to date, with more than 4 million therapy sessions delivered worldwide, and no reported device-related complications.
About Atlantic Therapeutics.
Galway-headquartered Atlantic Therapeutics develops professional and consumer medical devices, related software, apps and connected health technologies to treat all types of incontinence, sexual health dysfunctions, and other associated disorders by strengthening muscles and modulating nerves of the pelvic floor. For more information, visit www.myinnovo.com
Atlantic Therapeutics has attracted both international VC investment and enterprise grant funding and is now poised to begin this exciting new phase of growth and establish itself as the leading Femtech solution provider to treat SUI as well as other forms of incontinence.
For further information, please contact:
Vicky La Touche-Price at Seroba on +35316334028.