SILICON VALLEY INNOVATIONS, INC APPOINTS MEDTECH VETERAN HOWARD PALEFSKY TO BOARD OF DIRECTORS

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Jul 02, 2024, 07:00 ET

SVI Expands Commercial Leadership Ahead of Upcoming Product Launches

SILICON VALLEY, Calif., July 2, 2024 /PRNewswire/ -- Silicon Valley Innovations (SVI), a leader in clinical consumer care innovation, today announces Howard Palefsky has joined their board of directors as the company prepares its extensive line of personal care products for commercialization. The company's substantive portfolio is based upon a drug delivery platform developed around a novel concept, marking a new era of clinical-to-consumer healthcare technology.

Long time Medical technology CEO and Investor, Howard Palefsky, joins the Board of Silicon Valley Innovations

SVI's innovation has resulted in the development of a first-in-class technology centered around their highly specialized, clinically designed applicators (Class 1, FDA-registered and patented medical devices) for local drug delivery into specific anatomic locations. When used in conjunction with physician-formulated gels, the devices bring value spanning the patient care continuum – from cleansing, to moisturizing, to the delivery of prescription medications. It uniquely allows medications to be optimized for local treatment in order to be more effective and decrease systemic (whole body) reactions and/or side effects.

Mr. Palefsky is a successful businessman from the biomedical technology industry, with a 19+ year tenure at Collagen Corp., ultimately leading the company to a successful acquisition by Inamed/Allergan. His deep and unique commercial understanding of the MedTech industry will be critical as SVI furthers its mission to bridge the gap between consumer and healthcare technology.

"Following the introduction of our first product and the feedback we've received since, there's no doubt that we've created an exciting new platform for drug delivery. We're focused on embracing the magnitude of what we've developed, bringing that to fruition, and growing the company to its full potential," said SVI CEO and Founder Dr. Gail Lebovic. "Partnering with a visionary like Howard, given his experience and knowledge in business, as well as in medicine, is a huge win for us. We know we're on to something big, and Howard can help guide and accelerate our success."

SVI's Flagship Release: NasoClenz
In 2023, SVI began a limited release of its flagship product, NasoClenz, a nasal cleansing kit featuring the debut of SVI's innovative intranasal device. Early clinical studies show the product has an impressive impact on patients. A study presented at the Combined Otolaryngology Spring Meeting in Boston, revealed that severe allergy sufferers experienced an 84% reduction in frequent and severe nasal symptoms. The initial success of NasoClenz swiftly opened the door for SVI with an impressive rolling 4-quarter average sales growth over 200%. The company's initial focus for its products is on two major anatomic sites, each with large target markets: Respiratory health (~$71B) and Feminine health (~$21B).

Silicon Valley Innovations was founded in 2020, at the height of the pandemic, hence the focus on their first product - NasoClenz – was particularly relevant and timely. In the United States alone, over 155M individuals seek over-the-counter nasal relief products, but beyond that, a focus on being more proactive about healthcare and wellbeing has captured the attention of consumers globally. The team at SVI, led by Dr. Lebovic and with the new addition of Howard Palefsky, is uniquely positioned to spearhead this new category of clinically relevant products into the limelight of consumer healthcare.

"I've had the pleasure of working with Dr. Lebovic many times throughout our careers and I am equally looking forward to this partnership with SVI," said Palefsky. "Over my years and various experiences in the medical industry, Dr. Lebovic continues to stand out as a leading inventor who is particularly unique. She is practical and truly understands real-life problems that need clinical solutions. I see this blueprint for success not only with NasoClenz, but with Dr. Lebovic's plan to expand the use cases of SVI's drug delivery platform into women's health as well."

Palefsky went on to comment, "At first blush, it may seem odd to address these two distinctly different market segments, however, SVI's unique applicators leverage the opportunities in each of these anatomic sites with the potential for a tremendous impact in both the consumer and clinical spaces, making this a truly unique and interesting business opportunity."

To stay up to date on news from Silicon Valley Innovations, Inc. and learn more about NasoClenz, please visit: https://svi-inc.com/.

About Howard Palefsky
Howard Palefsky is a veteran businessman in Silicon Valley and is globally respected as an insightful Board Member, Executive, and Investor. His outstanding, long, and hearty successful track record in the life sciences, healthcare, and medical technology industries makes him specifically well-suited for joining the Board of Directors at SVI. He has led life-science and medical technology organizations through significant growth, creating value exceeding $4B. He has sat on the boards of more than 30 organizations and has played a pivotal role in establishing more than 20 businesses, spearheading numerous capital raises, Initial Public Offerings, and acquisitions. Moreover, he has overseen more than 40 new product launches across the US, Europe, LATAM, and Asia Pacific, gaining invaluable strategic insight into regulatory affairs and reimbursement mechanics across multiple geographies.

About Silicon Valley Innovations
Silicon Valley Innovations' mission is to create technological solutions that help people lead happier, healthier lives. The company was founded by Dr. Gail Lebovic, one of Silicon Valley's most successful women entrepreneurs, having founded or co-founded multiple medical technology companies with innovations that have become standard of care and are currently marketed by leading healthcare companies. Dr. Lebovic, a world-renowned Oncoplastic surgeon and internationally recognized expert in surgical options for cancer, brings more than three decades of experience in the medical device industry to the table. Dr. Lebovic and her team are committed to creating unique devices that solve significant health problems and improve lives. To learn more about Silicon Valley Innovations, visit svi-inc.com.

SOURCE Silicon Valley Innovations