OAKMONT, PA – July 7, 2016 — Cerêve Inc., manufacturer of the Cerêve Sleep System for treating people with insomnia, today announced it has appointed Don Spence to its Board of Directors.
A corporate executive with expertise in both the medical device and sleep space, Spence commented on his appointment, “I am thrilled to join Cerêve’s Board of Directors and am inspired by its goal to provide a clinically proven device that is a safe alternative to sleeping pills. I look forward to working with the executive team and the other Board members as we bring the Cerêve Sleep System to market.”
Spence previously served as Chairman and CEO of Lake Region Medical from 2010 until its sale to Greatbatch, Inc. last year. Lake Region Medical, also known as Accellent, was one of the largest suppliers to the medical device industry serving the cardio vascular and advanced surgical markets. Previously Spence served as Group President, Sleep and Home Respiratory and then later as Chief Executive Officer of Philips Home Healthcare for Philips Respironics, a global leader in sleep and respiratory products. In this role, Spence had responsibility for Philips’ entire home care portfolio including the Respironics sleep diagnostics and sleep therapy business, the home respiratory business, Philips home monitoring and Philips Lifeline.
Earlier this month, Cerêve gained FDA clearance for treating patients with insomnia with its novel Sleep System. The product provides a non-pharmaceutical solution for the 55 million Americans that meet the clinical definition of insomnia. The Cerêve Sleep System is the first and only insomnia device cleared to reduce sleep latency to Stage 1, the first stage of sleep, as well as latency to Stage 2, a stage of sleep that typically represents over 50% of the sleep period. By offering a clinically-proven and safe alternative to pills, the Sleep System has the potential to help millions of Americans get to sleep fast.
With seven issued and nineteen pending patents, the Cerêve System is a software-controlled bedside device that cools and pumps fluid to a forehead pad that is worn through the night. Clinical studies over 3,800 nights of use confirmed the device as safe and effective. The Cerêve Sleep System is slated to launch during the second half of 2017.
Based near Pittsburgh, PA, the privately-held company was formed in 2008 after the company’s Founder, Eric Nofzinger M.D., performed pioneering brain imaging studies on patients with insomnia at the University of Pittsburgh. The Cerêve management team includes former executives from Respironics, a global leader in sleep and respiratory markets that was acquired by Philips in 2008 for $5 billion.
Cerêve was funded in part by a grant from the National Institute of Health as well as by venture capital firms Arboretum Ventures, Versant Ventures and Partner Ventures.
For more information, or to receive updates as the Cerêve Sleep System becomes available, visit www.cerevesleep.com.
Roth T, Coulouvrat C, Hajak G, et al. Prevalence and perceived health associated with insomnia based on DSM-IV-TR; International Statistical Classification of Diseases and Related Health Problems, Tenth Revision; and Research Diagnostic Criteria/International Classification of Sleep Disorders, Second Edition criteria: results from the America Insomnia Survey. Biol Psychiatry. 2011;69(6):592-600.
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