Key insights
- Tulyp Medical, a European medical device company, appointed Steve Motes as CEO after positive human study results. Motes' experience at Medtronic, Edwards, and Abbott, plus the backing of Sofinnova Partners, suggests potential for future growth and possible acquisition. The connection to preCARDIA (acquired by JNJ) hints at possible future M&A activity, which could positively influence the US medical device sector.
Tulyp Medical, a Paris-based medical device company, appointed Steve Motes as chief executive officer following positive results from its first-in-human study of a pressure-driven perfusion system for vascular procedures.
Motes brings more than 30 years of medical device industry experience, primarily in cardiovascular technologies. He previously held leadership roles at Draeger, Medtronic, Edwards Lifesciences, and Abbott, where he contributed to the launch of the HeartMate 3 LVAD system and helped expand the ECMO business. He has also served as CEO of several early-stage companies in the mechanical circulatory support space.
"Tulyp is advancing a fundamentally different approach to perfusion that aligns more closely with how the body actually regulates oxygen delivery," Motes said in a statement.
The appointment comes as Mano Iyer, partner at Sofinnova Partners, transitions from CEO to the board of directors. Sofinnova Partners backs Tulyp through its MD Start accelerator program.
Tulyp was founded by cardiologists, engineers, and entrepreneurs including Tim Lenihan, Dr. Navin Kapur, and Dr. Richard Karas. The founding team previously co-founded preCARDIA, which was acquired by Abiomed, a Johnson & Johnson company, in 2021.
The company’s technology is based on the principle that oxygen delivery is governed by vascular pressure rather than flow. The system is designed to improve tissue oxygenation and reduce complications in patients undergoing major vascular interventions.
Sofinnova Partners, founded in 1972, manages over €4 billion in assets and has backed more than 500 companies over its 50-year history. The firm specializes in life sciences investments across healthcare and sustainability sectors.