OptiScan Biomedical Corporation (“OptiScan”) is based in Hayward, California. It has developed an innovative continuous monitoring platform for use in hospital intensive care units (“ICU”) to support clinicians in detecting changes more rapidly in critically ill patients, enabling more timely intervention.
The Company’s lead product, the OptiScanner 5000, is a first-of-its-kind automated, bedside glucose monitoring system that measures values directly from plasma using spectroscopy technology without the need for calibration. The system displays glucose level trend data with updates every 15 minutes to help manage patients’ glucose levels within an optimum target range. OptiScan has received CE Mark certification for the OptiScanner 5000 system.
OptiScan is expanding the capabilities of the OptiScanner platform technology to detect additional metabolic and haemodynamic analytes within the same blood sample, which will provide valuable trending data about the condition of a critically ill patient.
1. Peter Rule (CEO)
Peter Rule has over 30 years of experience in the healthcare industry. He has been the CEO of OptiScan Biomedical since 2006 and has served as Chairman of its Board of Directors since 2001.
Before joining OptiScan Biomedical, Mr. Rule was the Chairman and CEO of EKOS Corporation. During his tenure at EKOS, he raised over USD 60m in venture capital funding to re-direct product development efforts, resulting in the invention of the company’s peripheral vascular product line. EKOS was sold to BTG for up to USD 220m in 2013.
Prior to EKOS, Mr. Rule was the Chairman, CEO and President of PercuSurge, Inc. Mr. Rule raised approximately USD 50m for PercuSurge to develop the world’s first embolic protection system for use in interventional cardiology. During Mr. Rule’s leadership, PercuSurge obtained CE approval and was recommended unanimously for U.S. approval by a panel (which was subsequently granted). PercuSurge was sold to Medtronic for about USD 250m in 2001.
During his tenure at PercuSurge, Mr. Rule was also one of three co-founders of Therasense, Inc., holding the position of Chairman of the Board. Under his leadership, he redirected the company’s efforts to focus on the development of the smallest and most accurate hand-held glucose meter for the treatment of outpatient diabetes. The company was later sold to Abbott Laboratories for USD 1.2bn.
Prior to PercuSurge, Mr. Rule was the President of MiniMed, Inc. He raised partner and private monies to develop the world’s smallest external insulin pump, growing revenues from zero to USD 75m by the year of his departure in 1995. As President, Mr. Rule also completed a successful Initial Public Offering (IPO) of the company which was later sold to Medtronic for USD 3.7bn.
Mr Rule received his B.S in Economics from the University of Southern California, as well as an MBA from Harvard University.
2. Donald Webber (COO)
Donald Webber has been the COO of OptiScan since 2010. Between 2007 and 2010, Mr. Webber was VP of Manufacturing Operations at C.R. Bard. Prior to Bard, Mr. Webber was the Vice President of Operations at EKOS Corporation and the President and CEO of Mitralign. Over the last 22 years, Mr. Webber has worked at both public and private sector corporations with annual sales ranging up to USD 2.8bn. Mr. Webber has a B.S in Industrial Engineering Technology from State University of New York, and an MBA from Nova Southeastern University.
3. Patrick Nugent (CFO)
Patrick Nugent is the CFO at OptiScan Biomedical. Mr. Nugent has over 16 years of extensive experience in raising capital, strategic and financial planning, audits and investor relations. Prior to joining OptiScan Biomedical, Mr. Nugent held the position of Chief Financial Officer at Pelikan Technologies Inc. Before that Mr. Nugent held the position of Chief Financial Officer and Executive Vice President of Finance for Telesensory Corporation for worldwide operations. Mr. Nugent has a bachelor’s degree in Accounting and Financial Management and is a Chartered Management Accountant from the Chartered Institute of Management Accountants of London, England.
4. Jim Causey, VP Research & Development
Jim Causey has been the VP, Research & Development of OptiScan since 2012. Prior to joining OptiScan, Mr. Causey established his own consulting firm. From 2005 to 2007, Mr. Causey was CEO of M2 Medical Technologies, a medical device start-up developing a next generation insulin pump.
Mr. Causey was VP of Research & Development at MiniMed Inc. from 1997 - 2001, responsible for the development of MiniMed’s insulin pump products. While at MiniMed, he led the effort to introduce the most successful insulin pump in MiniMed’s history, either before or after the subsequent acquisition by Medtronic, Inc. Mr. Causey began his career at Pacesetter Systems in 1981, where he participated in and led the development of implantable pacemakers over a period of 15 years. Pacesetter was later acquired by St. Jude Medical. After that acquisition, Mr. Causey held the position of Vice President of Defibrillator Development, leading a team that introduced an industry-leading ICD.
Mr. Causey is a named inventor in over 90 allowed U.S. patents. He has a pre-med Biology degree from CSUN, Northridge, California.