EnteroMedics CEO, Founder, and Chairman, Mark Knudson, to Retire

EnteroMedics (NASDAQ: ETRM) announced that Mark B. Knudson, Ph.D., EnteroMedics Founder, Chairman, President and Chief Executive Officer notified the Company of his intention to retire effective December 31, 2015. Dr. Knudson will remain Chairman of the EnteroMedics Board of Directors. The Company also announced that Jon Tremmel, a Member of the Company’s Board of Directors, has been appointed as Consultant to the CEO. Mr. Tremmel will lead a search committee to find a successor for the chief executive role as well as provide strategic advice to the Company regarding its commercialization and reimbursement activities during the transition.

EnteroMedics, founded by Dr. Knudson in 2003, is one of over 20 healthcare companies that he has started or helped establish. Prior to EnteroMedics, Dr. Knudson held management positions in Research and Development at Cardiac Pacemakers, Inc. (CPI-Guidant) and was a member of the faculty of the University of Washington School of Medicine in Seattle, Washington. He was the recipient of an Individual Post-doctoral Fellowship Award from the National Institutes of Health. Dr. Knudson received a Ph.D. degree (Physiology) from Washington State University and a B.S. degree in biology from Pacific Lutheran University. He holds numerous United States patents and serves or has served on boards of several companies and institutions, both public and private. Dr. Knudson was elected to membership in Sigma Xi, the scientific research society of North America in 1975 and is a Fellow of the American Heart Association.

“I have had the privilege of being involved in numerous companies from conception to generation and have found it particularly rewarding to see EnteroMedics’ vBloc Neurometabolic Therapy evolve to where it stands now, available to both patients and physicians who have been waiting over a decade for a new treatment option for obesity and its comorbidities,” said Mark B. Knudson, Ph.D., President and Chief Executive Officer. “I am extremely proud of the way we have overcome multiple challenges along the way and of the progress we’ve made thus far. I feel confident that the company is headed in the right direction. I will continue to lead the organization through the transition and look forward to maintaining my role as Chairman of the Board.”

“Dr. Knudson has demonstrated extraordinary leadership throughout his tenure at EnteroMedics,” said Jon Tremmel, EnteroMedics Board Member. “Obesity is a disease of epidemic proportion and his incredible vision and perseverance will allow EnteroMedics to become an important part of the solution. We look forward to Mark’s continued guidance as we work toward an efficient and smooth transition in the executive role.”

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