SAN DIEGO, CA – October 15, 2010 – Suneva Medical, a privately-held aesthetic medical device company, today announced the appointment of industry veteran Nicholas L. Teti, Jr. to President and CEO. Mr. Teti has twenty-five years experience in the pharmaceutical industry and ten years in the aesthetics space, most notably as the President and CEO of Inamed Corporation. Niv Caviar, the current President and CEO, has decided to pursue other opportunities. Mr. Teti will continue to serve as Chairman of the Board.
Todd Davis, Vice Chairman of Suneva, commented, “Nick has decades of industry experience and a proven leadership track record of growing companies. His expertise is critical to take Suneva to the next level of corporate growth and we are excited to have him join the senior management team.”
He continued, “We thank Niv for his commitment to re-launch Artefill into the U.S. marketplace. This has given us a platform to accelerate the Company forward.”
Mr. Teti commented, “The prospects for both Suneva and Artefill are excellent and I am honored to lead the organization through this exciting period of growth. Our teams are focused on four core areas as we look ahead to 2011 – expand the number of indications for Artefill, establish an international franchise to extend the brand globally, identify complementary products to add under the Suneva umbrella and most importantly deliver our customers the highest level of service and support. These are key drivers of our growth strategy and we are confident that we will make significant strides in each area in the months ahead.”
Nicholas Teti has served on the Board of Directors of Suneva since April 2009 and as Chairman since July 2010. He was previously CEO of Isolagen, Inc., a biotechnology company which develops emergent, novel skin and tissue rejuvenation technologies. From 2001 to 2006, Mr. Teti was President and Chief Executive Officer of Inamed Corporation, a healthcare products manufacturer focused on marketing breast implants, dermal fillers to correct facial wrinkles, and devices to treat severe and morbid obesity, including the LAP-BAND Adjustable Gastric Banding System. He served on the board of Inamed in 2001 and was Chairman of the Board from 2002 to 2006 through the Allergan acquisition. Prior to Inamed, Mr. Teti spent twenty-five years at DuPont and DuPont Merck where he held a number of senior management positions including President and CEO of DuPont Pharmaceuticals. He currently serves on the Board of Enteromedics.
About Suneva Medical
Suneva Medical, Inc. is a medical technology company focused on developing, manufacturing and commercializing novel, differentiated aesthetic products for the dermatology, plastic and cosmetic surgery markets. The Company’s lead product is Artefill®, the first and only microsphere-enhanced collagen filler for the correction of nasolabial folds, or smile lines. For more information visit sunevamedical.com/old.