Cambridge, U.K. – 9th November 2020.
Cydar announces appointment of new Chief Executive Officer
Cydar Ltd develops and markets medical device software products that use cloud computing, data, and Artificial Intelligence to improve minimally invasive, image-guided surgery.
The Company is pleased to announce Paul Mussenden, formerly a non-executive director with the Company, as the new Chief Executive Officer. Tom Carrell, co-founder, and recent CEO will now focus on leading product and AI development and the Company’s data strategy.
Paul Mussenden has more than 20 years of business growth and scaling experience. He was latterly a key member of the executive team at BTG plc, which was acquired last year by Boston Scientific. Paul had a wide-ranging role at BTG, as General Counsel & Head of Strategic Affairs and also managing director of both BTG’s IP licensing business as well as one of BTG’s small MedTech business units. Paul had management responsibility for a range of key capabilities at BTG, including Legal, Global Regulatory Affairs, Market Access & Reimbursement, Medical Affairs, and Intellectual Property. Paul was intimately involved in BTG’s development over the last decade including all aspects of M&A and fundraising.
Tom Carrell, a vascular surgeon, and Graeme Penney, a medical imaging scientist founded Cydar in 2014. They built Cydar into the first company in the world using cloud computing, AI, and computer vision in real-time to guide surgery. In his new role as Founder and Executive Director, Tom said: “It is incredible to see what we have built at Cydar since we started up in 2014. Even throughout the pandemic, we have provided a 24/7 service to hospitals in the US, UK, and EU to improve the accuracy, radiation safety, and cost-effectiveness of endovascular surgery. When the COVID situation allows, we are poised to begin an NIHR-funded clinical trial which we hope will be a significant step towards our AI-augmented surgical maps becoming standard-of-care. Perhaps most exciting of all is the potential value we see in new and expanded applications enabled by our platform. It has been a real pleasure in recent months to work alongside Paul and see the new insights that he brings to the team from his MedTech growth experience. I and the whole Cydar team look forward greatly to his leadership. Paul leading the Company into this next stage of growth enables me to focus on the development of new Cydar products at the critical intersection between clinical need, technology, regulatory compliance, and future value”.
Paul Mussenden said: “I am very pleased to be on board and I am convinced Cydar can successfully build a new category of connected visualisation, moving beyond image fusion to leverage unique AI tools and data acquisition to improve health outcomes as well as health economics across a range of minimally invasive surgical categories. Tom has done a remarkable job building the foundation of the Company and leading it through clinical trials, US and EU regulatory clearances, Data Protection and Information Security certifications, and early commercialisation of the first product, Cydar EV. I very much look forward to working closely with Tom and the wider Cydar team to continue to innovate and further build the business”.
Lord Mervyn Davies, Chairman of Cydar added: “On behalf of the Board and all shareholders, I would like to thank Tom for what he has accomplished in building the business and achieving a number of firsts over the last 6 years. I would also like to warmly welcome Paul Mussenden who will lead us through the next stage of Cydar’s journey. Paul’s experience really complements that of Tom and the existing Cydar team and will help us realise the Company’s full potential”.
About Cydar Medical
Cydar Ltd is a UK private limited company with its HQ near Cambridge UK. Cydar is committed to improving patient outcomes in image-guided (minimally-invasive) surgery. Cydar EV enables surgeons to create detailed 3D Maps to plan endovascular surgery, and then automatically augments the live image guidance used during surgery with these Maps. The result is that surgeons can work more accurately and efficiently.