Delphi Ventures Expands Investment Team
Former EndoTex Interventional Systems, Inc. President & CEO John F. Maroney joins Delphi Ventures as General Partner
MENLO PARK, Calif., July 7, 2003 — Delphi Ventures, a venture capital firm focused on early-stage medical device and biotechnology investments, announced today the addition of John F. Maroney as a General Partner. Mr. Maroney will be responsible for identifying new investment opportunities and supporting Delphi's current portfolio companies.
Most recently, Mr. Maroney was President and CEO of EndoTex Interventional Systems, Inc., where he will continue to serve as Chairman of the Board. EndoTex is a Delphi Ventures portfolio company developing a percutaneously delivered, self expanding stent for the treatment of carotid artery disease. At EndoTex, John has led the development and clinical rollout of the Company's carotid stent, NextStent™. To date, over 180 patients have been treated successfully with NextStent™ as part of the Company's ongoing CABERNET pivotal clinical trial. Additionally, Mr. Maroney has raised over $50.0 million for the Company and recently concluded a key strategic relationship with Boston Scientific Corporation designed to result in the Company's acquisition by Boston Scientific.
"John is a highly seasoned executive with over twenty years of experience in the medical device industry," said David Douglass, a General Partner at Delphi Ventures. "His vast operating, clinical and strategic partnering experience will greatly benefit our portfolio companies."
"I am thrilled to be joining the Delphi team. Delphi is one of the leading life sciences investors with nearly fifteen years of successful investment experience," said Maroney. "I especially look forward to building upon the firm's strong medical device franchise and continuing my involvement in fostering medical device innovation."
Previously, John was President of EP Technologies, the electro physiology division of Boston Scientific. Earlier in his career John was General Manager and Vice President of Operations at CardioVascular Imaging Systems, Inc. and prior to that, held various engineering and management positions with Abbott Laboratories, Inc. Currently, John serves as a member of the Board of Directors of TriVascular, Inc., a Delphi Ventures portfolio company developing a percutaneously delivered stent-graft for the treatment of abdominal aortic aneurisms.
About Delphi Ventures:
Delphi Ventures is a venture capital firm focusing on early-stage medical device and biotechnology investments throughout the United States. Founded in 1988, the Firm has approximately $600.0M under management and has invested in over 125 healthcare companies. The Firms investments have included Applied Molecular Evolution, Inc. (AMEV), AneuRx, Inc. (MDT), BioStent, Inc. (GDT), Cardiac Pathways Corporation (BSX), CollaGenex Pharmaceuticals, Inc. (CGPI), Coulter Pharmaceuticals, Inc. (CLTR/Corixa), Cygnus Therapeutic Systems (CYCN), Exogen, Inc. (SNN), GenPharm International, Inc. (PHARM/Medarex), GyneCare, Inc. (JNJ), Innovasive Devices, Inc. (JNJ), Micro Interventional Systems, Inc. (MDT), Natus Medical, Inc. (BABY), Oak Tree Health Plan, Inc. (Oxford Health Plans), Oratec Interventions, Inc. (SNN), RITA Medical Systems, Inc. (RITA), SONUS Pharmaceuticals, Inc. (SNUS), Telik, Inc. (TELK), TheraSense, Inc. (THER), TheraTx, Inc. (THTX/Kindred Healthcare formerly Vencor), Tularik, Inc. (TLRK), The TriZetto Group, Inc. (TZIX), and VidaMed, Inc. (MDT). www.delphiventures.com