Newly appointed CFO with significant experience in medical technology and public / private financing
Insulin Pump system Kaleido to expand commercial roll out in Europe
UTRECHT, Netherlands, Feb. 1, 2023 /PRNewswire/ -- ViCentra B.V., the company behind Kaleido, one of the world's smallest, lightest and most precise Insulin Pump systems for treating people with type 1 Diabetes, is pleased to announce the appointment of Leo Toole as Chief Financial Officer and provides a corporate update on its expansion pathway of Kaleido into key European markets in 2023.
Leo Toole brings a wealth of experience in senior finance roles with more than 25 years' experience in medical technology, pharmaceutical, and FMCG sectors. Leo was previously CFO of hVIVO plc, a UK contract research organization publicly listed on AIM & Euronext (HVO), specializing in testing infectious and respiratory disease products, and was a key member of the team that turned around the Company's financial position from 2020 to 2022. Prior to this, Leo was CFO of Sigmoid Pharma Ltd, an Irish specialty pharma company developing drugs for ulcerative colitis, which completed a c$60m financing in 2018. Leo's other experiences include his role at BiancaMed Ltd, an Irish medical device company sold to ResMed Inc in 2011 and senior finance roles in Procter & Gamble across Europe.
Frans Cromme, Chief Executive Officer of ViCentra, said: "We are delighted to welcome Leo at this pivotal time of Company development and growth. Leo has experience in both large corporate organizations and small entrepreneurial ventures and understands financial market dynamics having successfully led multiple private and public financing events. His expertise will serve us as we seek additional funding and expand our operations to bring our CE-marked product Kaleido to thousands of people with Type 1 diabetes."
Leo Toole, Chief Financial Officer of ViCentra, commented: "I am excited to join ViCentra during this period of great change and Company growth. I am extremely impressed by this disruptive technology that will help combat the increasing prevalence of diabetes. I look forward to contributing to ViCentra's excellent leadership team as we drive the European expansion of Kaleido and prepare for US entry."
ViCentra's flagship product Kaleido is one of the world's smallest, lightest and most precise insulin pump systems and can be uniquely tailored to the person using it. The tiny pump combines the freedom of a patch pump with the versatility of a conventional pump and uses unique micro-pulse technology to deliver accurate and consistent dosing of insulin. It is available as a manual and automated insulin delivery system.
ViCentra has successfully scaled its manufacturing capacity to enable the launch of Kaleido into multiple European geographies and is expanding its commercial team. Kaleido is currently available and growing in the Netherlands and France and will be launched in Germany, the world's second largest diabetes market, in 2023.
ViCentra B.V., with headquarters in Utrecht, the Netherlands develops, manufactures and markets next generation insulin pumps and other products to treat people with diabetes. The company flagship product is the Kaleido insulin pump which is CE marked and is commercially released in European countries. It is one of the world's smallest, lightest and most precise insulin pump systems, waterproof, available in 10 bright colours and is available both as a manual and an automated insulin delivery system. ViCentra was founded in 2013 and is backed by INKEF Capital, EQT Life Sciences, Health Innovations, Invest-NL, Partners in Equity and Kreos Capital. More information about ViCentra can be found at URL.
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