Procyrion Announces Appointment of Lucas Buchanan to Board of Directors

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Sep 09, 2024, 09:17 ET

Industry veteran brings expertise in commercialization, operations, business development and finance
Company continues to focus on DRAIN-HF pivotal IDE trial and preparing for US commercialization of its percutaneous mechanical circulatory support (pMCS) technology

HOUSTON, Sept. 9, 2024 /PRNewswire/ -- Procyrion™, Inc., a medical device company dedicated to improving outcomes for patients with cardiac and renal impairment, announced today the appointment of Lucas Buchanan to the company's Board of Directors. Mr. Buchanan is a seasoned MedTech executive and experienced board member and is currently the Chief Operating Officer and Chief Financial Officer at Silk Road Medical, a medical device company that pioneered transcarotid artery revascularization (TCAR).

"We are thrilled to have an accomplished leader like Lucas join the Procyrion Board," said Gary F. Burbach, Chair of the Board of Directors, Procyrion. "Lucas' deep industry experience will be an important asset to the Board and company as we work together to make the groundbreaking Aortix therapy available for patients with acute decompensated heart failure."

Mr. Buchanan's appointment to Procyrion's BOD follows the closing of $57.7 million in Series E financing led by Fannin Partners. The funds support the ongoing DRAIN-HF pivotal IDE trial, internal R&D programs, and commercialization preparation of the Aortix™ pMCS device. Aortix is a catheter-deployed pump designed to directly increase perfusion to the kidneys while unloading the heart and improving cardiac performance. The innovative design harnesses fluid entrainment to pump blood without the need for a valve, delivering a therapeutic benefit via a physiologically natural mechanism of action for acute decompensated heart failure (ADHF) patients who remain congested despite standard medical therapy (cardiorenal syndrome or CRS).

"These diuretic resistant heart failure patients, who have failed available standard-of-care therapies, are the most difficult to treat. The novel design of Aortix has demonstrated promising results in early studies and offers patients and their physicians a much-needed treatment option," said Eric S. Fain, MD, President and Chief Executive Officer, Procyrion. "Lucas' insights on commercialization, financial stewardship and corporate strategy will be of tremendous value as we work to complete enrollment in the DRAIN-HF trial and prepare for commercialization of the Aortix pump."

At Silk Road Medical, which recently announced a definitive agreement to be acquired by Boston Scientific, Mr. Buchanan leads manufacturing and operations, finance and accounting, IT, commercial operations and analytics, health economics and reimbursement, and corporate development efforts. His background includes investing and commercial roles at The Vertical Group, Impax Laboratories, Medtronic and Ernst & Young. Mr. Buchanan currently serves on the Board of Directors for Endologix and as a strategic advisory board member of CRG LP. He holds a BA in Economics from Duke University and an MBA in Health Care Management from The Wharton School at the University of Pennsylvania.

"I am honored to join the Procyrion team as they progress and achieve milestones to make the Aortix pump available to CRS patients and clinicians who have exhausted all other treatment options," said Mr. Buchanan. "I look forward to sharing my perspectives as we work to bring this incredible technology to market."

About Procyrion
Procyrion™, Inc. is a privately held medical device company dedicated to providing effective treatment options for patients with cardiac and renal impairment. The company is developing the Aortix™ percutaneous mechanical circulatory support device, a catheter-deployed pump technology that uniquely harnesses fluid entrainment to pump blood to address multiple conditions with significant unmet needs. Aortix is limited by Federal law to investigational use only and is not approved for sale in any geography. Please visit www.procyrion.com for more information.

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