illumiSonics Inc. Announces the Appointment of Scott Durbin as Chief Executive Officer
August 10, 2023 – illumiSonics Inc., a leading company in optical imaging systems providing unprecedented cellular and molecular data, is proud to announce the appointment of Scott Durbin as its new Chief Executive Officer (CEO), effective August 8, 2023.
Mr. Durbin brings over 25 years of executive leadership and expertise in finance, corporate development, clinical development, and operational experience from start-ups to multi-national companies. His expertise in driving commercialization strategies, building strategic partnerships, financing, and developing high-performance teams will be vital to illumiSonics' continued success.
Mr. Durbin was formerly chief executive officer (CEO) of Viveve Medical, Inc., a publicly traded global women’s health company. While at Viveve, Mr. Durbin raised more than $250 million in large private, public and debt financings that propelled the company to scale globally. Prior to his position as CEO, he acted as chief financial officer (CFO). Prior to Viveve, Mr. Durbin was CFO for Vericel (formerly Aastrom Biosciences). There, he raised over $50 million in public capital, attracting high quality institutional investors and fostering equity research from some of the leading life science investment banks. At Prescient Medical, Inc., which developed optical diagnostic and therapeutic medical devices for severe coronary artery disease, he was a co-founder and acted as both the chief operating officer (COO) and CFO. There, he led the company’s early-stage growth, built the infrastructure to support the operation of the company as a future public entity, and raised over $60 million in private equity. Prior to his executive leadership roles, Mr. Durbin served as a finance and corporate development consultant for Scios, Inc. (a Johnson & Johnson company), and Alteon, Inc., as well as an investment banker with Lehman Brothers in New York. To date, he has completed more than $5 billion in financings and merger and acquisitions for life science companies.
“I am honored to join illumiSonics as CEO and to work alongside a team of incredibly talented professionals who are passionate about pushing the boundaries of medical technology,” said Mr. Durbin. “illumiSonics is at the forefront of developing cutting-edge optical imaging solutions that have the potential to address a multitude of therapeutic applications across life sciences and beyond. I am excited to lead the company in its next phase of growth.” John Mackey, director, interim CEO and CMO, added “Scott Durbin brings all the skills we need for illumiSonics to realize its tremendous potential and markedly improve outcomes for patients. I’m thrilled to hand the reigns to our new leader, and the entire team shares in the excitement of the opportunities he brings for the company and our shareholders.” “I would like to thank John Mackey for his continued dedication to illumiSonics and for the impactful contributions he made as interim CEO” added Parsin Haji Reza, founder, CTO, and chairman. “I am very excited to welcome Scott Durbin, whose expertise, knowledge, and experience are exactly what illumiSonics needs to ensure that our innovative solutions reach healthcare providers and benefit patients worldwide.”
About illumiSonics Inc.
illumiSonics Inc. is a Waterloo, Ontario based company that has developed the PARS platform: a revolutionary, non-contact, high-resolution, label-free, non-destructive optical imaging system based on new physics. PARS captures all light-matter interactions to yield unprecedented cellular and molecular information, which is then processed using AI, leading to precision diagnostics. The ability to generate multiple diagnoses from a single tissue sample and eliminate the need for staining addresses an unmet medical need that has the potential to save lives and reduce costs. For more information, visit www.illumisonics.com.
Mr. Durbin brings over 25 years of executive leadership and expertise in finance, corporate development, clinical development, and operational experience from start-ups to multi-national companies. His expertise in driving commercialization strategies, building strategic partnerships, financing, and developing high-performance teams will be vital to illumiSonics' continued success.
Mr. Durbin was formerly chief executive officer (CEO) of Viveve Medical, Inc., a publicly traded global women’s health company. While at Viveve, Mr. Durbin raised more than $250 million in large private, public and debt financings that propelled the company to scale globally. Prior to his position as CEO, he acted as chief financial officer (CFO). Prior to Viveve, Mr. Durbin was CFO for Vericel (formerly Aastrom Biosciences). There, he raised over $50 million in public capital, attracting high quality institutional investors and fostering equity research from some of the leading life science investment banks. At Prescient Medical, Inc., which developed optical diagnostic and therapeutic medical devices for severe coronary artery disease, he was a co-founder and acted as both the chief operating officer (COO) and CFO. There, he led the company’s early-stage growth, built the infrastructure to support the operation of the company as a future public entity, and raised over $60 million in private equity. Prior to his executive leadership roles, Mr. Durbin served as a finance and corporate development consultant for Scios, Inc. (a Johnson & Johnson company), and Alteon, Inc., as well as an investment banker with Lehman Brothers in New York. To date, he has completed more than $5 billion in financings and merger and acquisitions for life science companies.
“I am honored to join illumiSonics as CEO and to work alongside a team of incredibly talented professionals who are passionate about pushing the boundaries of medical technology,” said Mr. Durbin. “illumiSonics is at the forefront of developing cutting-edge optical imaging solutions that have the potential to address a multitude of therapeutic applications across life sciences and beyond. I am excited to lead the company in its next phase of growth.” John Mackey, director, interim CEO and CMO, added “Scott Durbin brings all the skills we need for illumiSonics to realize its tremendous potential and markedly improve outcomes for patients. I’m thrilled to hand the reigns to our new leader, and the entire team shares in the excitement of the opportunities he brings for the company and our shareholders.” “I would like to thank John Mackey for his continued dedication to illumiSonics and for the impactful contributions he made as interim CEO” added Parsin Haji Reza, founder, CTO, and chairman. “I am very excited to welcome Scott Durbin, whose expertise, knowledge, and experience are exactly what illumiSonics needs to ensure that our innovative solutions reach healthcare providers and benefit patients worldwide.”
About illumiSonics Inc.
illumiSonics Inc. is a Waterloo, Ontario based company that has developed the PARS platform: a revolutionary, non-contact, high-resolution, label-free, non-destructive optical imaging system based on new physics. PARS captures all light-matter interactions to yield unprecedented cellular and molecular information, which is then processed using AI, leading to precision diagnostics. The ability to generate multiple diagnoses from a single tissue sample and eliminate the need for staining addresses an unmet medical need that has the potential to save lives and reduce costs. For more information, visit www.illumisonics.com.
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