Siren Appoints Chief Financial Officer to Support Next Phase of Growth
June 29, 2020
Siren, a medical device company that has developed breakthrough technology to embed microsensors within fabric, allowing for mass production of affordable, washable smart textiles with remote patient monitoring applications, announced today the appointment of Philip Preuss as Chief Financial Officer. Mr. Preuss brings a strong finance and cross-functional background to the Siren executive team with over 17 years of professional experience in both the financial services and medical device industries. He will report directly to Ran Ma, the CEO and co-founder of Siren and will oversee all aspects of the finance, accounting, and business operations of the company. Siren's first product is an FDA-registered temperature monitoring sock that connects wirelessly to a software application, allowing healthcare practitioners to detect early signs of inflammation in patients at risk of developing diabetic foot ulcers.
Mr. Preuss has developed a strong multi-disciplinary expertise in management, leading teams in Vice President roles in finance, business operations, marketing, strategy, and corporate development. He spent the past 12 years at Avinger, an innovative medical device company in the vascular intervention space. As one of the first employees at seed stage, he supported fundraising activities for over $200M in capital and played a significant part in building the finance, strategy, commercial operations, and business administration functions through commercialization and an initial public offering. Most recently, he held the Vice President of Marketing and Business Operations position, leading multiple successful product launches and several key strategic projects for the company. He has also worked in medical device corporate development at Foxhollow Technologies, and spent several years in financial services as an equity research associate, becoming an Associate Director at UBS.
Mr. Preuss commented, "Siren has a compelling combination of an innovative technology platform, a commercial-ready product with existing reimbursement, strong business model, excellent executive and Board leadership, and top tier investors. Most importantly, the company has developed a product that helps patients at-risk of suffering the potentially devastating complications of a severe chronic disease through early detection and prevention. I am extremely excited to join a company that will make such a positive transformational impact on patient care."
"With Siren gaining significant commercial traction, we are making key executive hires to support substantial growth going forward," noted Ran Ma, CEO and founder of Siren. "We are excited to have someone with Phil's background in the important role of Chief Financial Officer, especially given his shared commitment to advancing patient care. Phil's extremely well-rounded skill set, deep functional knowledge in strategy, business operations, and finance, and experience building a startup medical device company from inception to an initial public offering, really complements the existing core competencies of our leadership team."