Chad Kolean Named CFO
MEQUON, Wis., September 12, 2017 – Titan Spine, a medical device surface technology company focused on developing innovative spinal interbody fusion implants, today announced the appointment of Chad Kolean as the Company’s Chief Financial Officer (CFO). In his role, Kolean will oversee Titan’s Finance Team and work to build forward-looking financial preparedness as the Company continues to experience rapid growth following the launch of its nanoLOCK® surface technology,
Prior to joining Titan, Mr. Kolean served as the CFO for Cellectar Biosciences, a life sciences company, where he drove a management restructuring and raised substantial funds resulting in uplisting to the NASDAQ Capital Market. Previously, he served as the CFO at Pioneer Surgical Technologies, providing the organization with leadership strategy, development and execution, Board support, investor relations, budgeting, forecasting, operations and regulatory due diligence. Kolean is a certified public accountant and earned his B.A. in Business Administration from Hope College.
Mr. Kolean commented, “I am thrilled to join the team at Titan Spine, particularly at such an exciting time for the company. We are well-positioned for continued financial growth that capitalizes on a strong first half of 2017. Titan Spine is making substantial progress addressing the key needs for both patients and surgeons, and the company’s growth is a direct reflection of the increased demand surgeons have for the advantages of our nanoLOCK® surface technology.”
Peter Ullrich, Chief Executive Officer of Titan Spine, added, “Chad’s appointment as our CFO validates and reflects our rapid expansion as we continue to disrupt our industry and redefine the role of interbody devices in the fusion process. The growing demand for our technology and our strong sales team has led to significant growth, especially in the first half of this year, and we believe Chad will help drive our continued progress, further benefiting patients at the nano-cellular level to heal faster following spinal fusions.”
Titan Spine offers a full line of Endoskeleton® titanium implants that feature its proprietary nanoLOCK® surface technology, which was launched in the U.S. in October 2016 following FDA clearance in late 2014. The nanoLOCK® surface technology consists of a unique combination of roughened topographies at the macro, micro, and nano levels (MMN™). This unique combination of surface topographies is designed to create an optimal host-bone response and actively participate in the fusion process by promoting the upregulation of osteogenic and angiogenic factors necessary for bone growth, encouraging natural production of bone morphogenetic proteins (BMPs), downregulating inflammatory factors, and creating the potential for a faster and more robust fusion.1,2,3,4 All Endoskeleton® devices are covered by the company’s risk share warranty.
About Titan Spine
Titan Spine, LLC is a surface technology company focused on the design and manufacture of interbody fusion devices for the spine. The company is committed to advancing the science of surface engineering to enhance the treatment of various pathologies of the spine that require fusion. Titan Spine, located in Mequon, Wisconsin and Laichingen, Germany, markets a full line of Endoskeleton® interbody devices featuring its proprietary textured surface in the U.S. and portions of Europe through its sales force and a network of independent distributors. To learn more, visit www.titanspine.com.
1Olivares-Navarrete, R., Hyzy S.L., Gittens, R.A., Berg, M.E., Schneider, J.M., Hotchkiss, K., Schwartz, Z., Boyan, B. D. Osteoblast lineage cells can discriminate microscale topographic features on titanium-aluminum-vanadium surfaces. Ann Biomed Eng. 2014 Dec; 42 (12): 2551-61.2Olivares-Navarrete, R., Hyzy, S.L., Slosar, P.J., Schneider, J.M., Schwartz, Z., and Boyan, B.D. (2015). Implant materials generate different peri-implant inflammatory factors: PEEK promotes fibrosis and micro-textured titanium promotes osteogenic factors. Spine, Volume 40, Issue 6, 399–404.3Olivares-Navarrete, R., Gittens, R.A., Schneider, J.M., Hyzy, S.L., Haithcock, D.A., Ullrich, P.F., Schwartz, Z., Boyan, B.D. (2012). Osteoblasts exhibit a more differentiated phenotype and increased bone morphogenetic production on titanium alloy substrates than poly-ether-ether-ketone. The Spine Journal, 12, 265-272.4Olivares-Navarrete, R., Hyzy, S.L., Gittens, R.A., Schneider, J.M., Haithcock, D.A., Ullrich, P.F., Slosar, P. J., Schwartz, Z., Boyan, B.D. (2013). Rough titanium alloys regulate
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