SAN DIEGO, Jan. 02, 2019 (GLOBE NEWSWIRE) — Obalon Therapeutics, Inc. (NASDAQ:OBLN), a vertically integrated medical technology company with the first and only FDA-approved swallowable, gas-filled intragastric balloon system for the treatment of obesity, today completed the succession plan previously announced with the promotion of Kelly Huang, Ph.D., to Chief Executive Officer. Dr. Huang has served as Obalon’s Chief Operating Officer since September 2017, and was promoted to President in August 2018. Andy Rasdal, who has served as CEO since Obalon’s founding in 2008 will serve as Executive Chairman.
“More than a year ago, we brought Kelly in as Chief Operating Officer to lead commercial operations,” said Mr. Rasdal. “Kelly has continued to demonstrate that he is a strong and capable leader, and we believe he will be effective as CEO of Obalon. I intend to stay actively involved as Executive Chairman, primarily to serve as a resource to Kelly, and will also focus on several key strategic projects to help build the intragastric balloon market and create sustainable value for Obalon.”
Prior to joining Obalon, Dr. Huang was the General Manager for Galderma Laboratories, L.P., Aesthetic & Corrective, where he led business strategy, execution, and development. During his tenure, key aesthetic brands grew through product innovation, marketing strategies, and value-added services for physician customers that allowed for better patient acquisition, retention and more efficient clinical logistics. Prior to Galderma, Dr. Huang was a President on Endo Pharmaceutical’s Executive Committee, responsible for leadership of the urology device and services division, affording him extensive experience in medical devices. Dr. Huang was also at Johnson & Johnson for more than 16 years, across a variety of divisions, from research and development to professional sales and marketing. Dr. Huang earned his Doctorate and Masters degrees in Chemical Engineering from Stanford University in California.
About Obalon Therapeutics, Inc.
Obalon Therapeutics, Inc. (NASDAQ:OBLN) is a San Diego-based company focused on developing and commercializing novel technologies for weight loss. The Obalon management team has over 150 combined years of experience in developing and commercializing novel medical technologies with a track record of financial and clinical excellence. For more information, please visit www.obalon.com.
Forward-Looking Statements
To the extent that statements contained in this press release are not descriptions of historical facts regarding Obalon Therapeutics, they are forward-looking statements reflecting the current beliefs and expectations of management made pursuant to the safe harbor of the Private Securities Reform Act of 1995. Such forward-looking statements involve substantial risks and uncertainties that could cause Obalon Therapeutics’ future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the uncertainties inherent in the product research, development and regulatory process and risks. Obalon Therapeutics undertakes no obligation to update or revise any forward-looking statements. For a further description of the risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to Obalon Therapeutics’ business in general, please refer to Obalon Therapeutics’ quarterly report on Form 10-Q filed with the Securities and Exchange Commission on November 2, 2018, and its current and future periodic reports filed with the Securities and Exchange Commission.
For Obalon Therapeutics, Inc.
Investor Contact:
William Plovanic
Chief Financial Officer
Obalon Therapeutics, Inc.
Office: +1 760 607 5103
[email protected]
