electroCore, Inc. Appoints Business Development Leader and US Navy Veteran Sylvester Steele as VP and General Manager of Government Channels Business Unit

October 21, 2020 at 8:00 AM EDT
Newly created position to focus on driving growth within the Veterans Administration, Department of Defense and other government channels

BASKING RIDGE, N.J., Oct. 21, 2020 (GLOBE NEWSWIRE) -- electroCore, Inc. (Nasdaq: ECOR), a commercial-stage bioelectronic medicine company, today announced the appointment of Sylvester “Sly” Steele to the newly created position of Vice President and General Manager of the Government Channels Business Unit. Mr. Steele brings to electroCore extensive leadership experience, including more than 20 years in the U.S. Navy leading organizations and developing complex systems. In his role, Mr. Steele will be responsible for driving growth of gammaCore Sapphire non-invasive vagus nerve stimulation therapy (nVNS) within the Veterans Administration (VA) and Department of Defense (DoD), as well as developing new revenue opportunities within government channels.   

“We are pleased to welcome Sly to the electroCore team and look forward his leadership as we work to drive long-term growth within our government sectors, most notably the VA and DoD,” said Daniel Goldberger, Chief Executive Officer of electroCore. “Sly is an exceptional business development executive who possesses the background and skillset to navigate a complex ecosystem of military and other government agencies that we believe can benefit from non-invasive vagus nerve stimulation therapy.”      

“I am thrilled to join electroCore to help develop new growth opportunities within military and other government agencies that extend the company’s reach to more patients, including veterans and military personnel,” said Mr. Steele. “There is broad potential utility of nVNS across a range of indications, and I look forward to working with the team to expand access to these therapies as electroceutical devices build mainstream momentum.”

Prior to joining electroCore, Mr. Steele served as the Senior Director of Business Development and Sales at Juul Labs, Inc., a private U.S. electronic cigarette company. At Juul Labs, he established the company’s first integrated vertical sales unit focused on the defense and veteran retail segment and developed rapid sales growth within military retail chains. Prior to Juul Labs, Mr. Steele served with distinction for two decades in the U.S. Navy. He served in a variety of leadership roles, including as Commanding Officer (Chief Executive Officer) of two warships (USS Stout, USS The Sullivans) and as a senior advisor and strategy leader at U.S. Fleet Forces Command and Naval Special Warfare Development Group. Mr. Steele earned his B.S. in Electrical Engineering from the United States Naval Academy, his M.S. in Industrial Management from the University of Arkansas, and his M.A. in National Security and Strategic Studies from the U.S. Naval War College.

About gammaCore™

gammaCore™ (nVNS) is the first non-invasive, hand-held medical therapy applied at the neck to treat migraine and cluster headache through the utilization of a mild electrical stimulation to the vagus nerve that passes through the skin. Designed as a portable, easy-to-use technology, gammaCore can be self-administered by patients, as needed, without the potential side effects associated with commonly prescribed drugs. When placed on a patient’s neck over the vagus nerve, gammaCore stimulates the nerve’s afferent fibers, which may lead to a reduction of pain in patients.

gammaCore is FDA cleared in the United States for adjunctive use for the preventive treatment of cluster headache in adult patients, the acute treatment of pain associated with episodic cluster headache in adult patients, the acute treatment of pain associated with migraine headache in adult patients, and the prevention of migraine in adult patients. gammaCore is CE-marked in the European Union for the acute and/or prophylactic treatment of primary headache (Migraine, Cluster Headache, Trigeminal Autonomic Cephalalgias and Hemicrania Continua) and Medication Overuse Headache in adults. In 2019, NICE published an evidence-based Medical Technology Guidance document recommending the use of gammaCore for cluster headache within NHS England.

Safety and efficacy of gammaCore have not been evaluated in the following patients:

  • Patients diagnosed with narrowing of the arteries (carotid atherosclerosis)
  • Patients who have had surgery to cut the vagus nerve in the neck (cervical vagotomy)
  • Pediatric patients
  • Pregnant women
  • Patients with clinically significant hypertension, hypotension, bradycardia, or tachycardia

Patients should not use gammaCore if they:

  • Have an active implantable medical device, such as a pacemaker, hearing aid implant, or any implanted electronic device
  • Have a metallic device such as a stent, bone plate, or bone screw implanted at or near their neck
  • Are using another device at the same time (e.g., TENS Unit, muscle stimulator) or any portable electronic device (e.g., mobile phone)

For additional safety information please see Instruction for Use here.

In the United States, the FDA has not cleared gammaCore for the treatment of pneumonia and/or respiratory disorders such as acute respiratory stress disorder associated with COVID-19.

Please refer to the gammaCore Instructions for Use for all of the important warnings and precautions before using or prescribing gammaCore.

The United States FDA issued an Emergency Use Authorization (EUA) for acute use of the gammaCore Sapphire CV device at home or in a healthcare setting to treat adult patients with known or suspected COVID-19 who are experiencing exacerbation of asthma-related dyspnea and reduced airflow, and for whom approved drug therapies are not tolerated or provide insufficient symptom relief as assessed by their healthcare provider, by using non-invasive vagus nerve stimulation (nVNS) on either side of the patient’s neck, available under an emergency access mechanism called an EUA.

gammaCore Sapphire CV has neither been cleared nor approved for acute use at home or in a healthcare setting to treat adult patients with known or suspected COVID-19 who are experiencing exacerbation of asthma-related dyspnea and reduced airflow, and for whom approved drug therapies are not tolerated or provide insufficient symptom relief as assessed by their healthcare provider, by using non-invasive vagus nerve stimulation (nVNS) on either side of the patient’s neck during the Coronavirus Disease 2019 (COVID-19) pandemic.

gammaCore Sapphire CV has been authorized only for the duration of the declaration that circumstances exist justifying the authorization of the emergency use of medical devices under section 564(b)(1) of the Act, 21 U.S.C. § 360bbb-3(b)(1), unless the authorization is terminated or revoked.

Further information is available at:

Authorization Letter: https://www.fda.gov/media/139967/download

Fact Sheet for Healthcare Providers: https://www.fda.gov/media/139968/download

Fact Sheet for Patients: https://www.fda.gov/media/139969/download

Instructions for gammaCore use https://www.fda.gov/media/139970/download

About electroCore, Inc.

electroCore, Inc. is a commercial stage bioelectronic medicine company dedicated to improving patient outcomes through its platform non-invasive vagus nerve stimulation therapy initially focused on the treatment of multiple conditions in neurology and rheumatology. The company’s initial targets are the preventative treatment of cluster headache and acute treatment of migraine and episodic cluster headache.

For more information, visit www.electrocore.com.

Forward-Looking Statement

This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements include, but are not limited to, statements about anticipated government funding arrangements provided by the NHS and NICE, electroCore's business prospects, sales and marketing, and product development plans, future cash flow projections, anticipated costs, its pipeline or potential markets for its technologies, the availability and impact of payer coverage, the potential product use for other indications, and other statements that are not historical in nature, particularly those that utilize terminology such as "anticipates," "will," "expects," "believes," "intends," other words of similar meaning, derivations of such words and the use of future dates. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, the ability to raise the additional funding needed to continue to pursue electroCore’s business, sales and marketing, and product development plans, the inherent uncertainties associated with developing new products or technologies, the ability to successfully commercialize gammaCore™, competition in the industry in which electroCore operates and overall market conditions. Any forward-looking statements are made as of the date of this press release, and electroCore assumes no obligation to update the forward-looking statements or to update the reasons why actual results could differ from those projected in the forward-looking statements, except as required by law.  Investors should consult all of the information set forth herein and should also refer to the risk factor disclosure set forth in the reports and other documents electroCore files with the SEC available at www.sec.gov.

Investors:
Hans Vitzthum
LifeSci Advisors
617-430-7578
hans@lifesciadvisors.com

or

Media Contact:
Jackie Dorsky
electroCore
973-290-0097

 

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