Allevion Therapeutics Closes Additional Funding and Announces New Board Member, Jack Wang, Ph.D.

IRVINE, Calif., Sept. 23, 2020 /PRNewswire/ -- Jack Wang, Ph.D., is the newest member to join to Allevion Therapeutics' board of directors. His proven leadership, vision, and commitment will further strengthen the board in achieving the company's goals and mission. Jack is an accomplished business leader with more than 20 years' experience in the medical-device industry with a successful track record in business execution and exits.

"I am enthusiastic to join Allevion Therapeutics' board and distinctly interested in supporting Allevion's commitment to improving patient outcomes while pursuing the long-term growth opportunities in the Asian market," says Jack Wang.

Currently, Dr. Wang is the chairman and CEO of HeMo Bioengineering Limited, a medical-device company established in 2017, primarily focused on neurovascular intervention in Asia, with its current manufacturing and marketing and sales headquarters in China.

Previously, Dr. Wang was the CEO of Biosensors International, a pioneer in interventional cardiology devices. There, he was responsible for the company's significant growth and strategic direction leading to the acquisition of several successful companies. A graduate of Case Western Reserve University, he has been granted more than 20 U.S. and European patents in medical devices and technology and has published more than 30 scientific papers on polymer materials and processing. 

"We are pleased to welcome Dr. Wang to Allevion Therapeutics' board and are excited about his extensive industry experience and exceptional track record as we prepare to expand globally," says Shawn Moaddeb, chairman of Allevion Therapeutics

Allevion Therapeutics also announced completion of additional private funding. The new investment will be used to continue product development leading to regulatory filing for various countries.

Allevion Therapeutics is part of the portfolio of Adventus Ventures, LLC, a medical- device venture capital company.

Allevion Therapeutics is developing a smart wrist-wearable device (Allevxtm) to reduce hand and leg tremor, specifically essential tremor (ET). Allevxtm is considered to be the next-generation neuromodulation device that delivers an individualized noninvasive, multi-modal energy therapy to alter the activity of nerves responsible for tremors. This breakthrough energy system has the potential to address essential tremor and other movement-related disorders, such as Parkinson's disease and dystonia.

Millions of people struggle with ET, a movement disorder far more common than Parkinson's, with a significant impact on mobility and quality of life. These numbers are expected to increase more than 6% annually. 

About Allevion Therapeutics:
Allevion Therapeutics is developing a next-generation neuromodulation smart wearable-device using dual energy fusion technology for the treatment of a wide variety of movement disorders.

For more information, visit the company's website at www.alleviontx.com.

Media Contact:
Cortney Donaldson
[email protected].

SOURCE Allevion Therapeutics