A former executive at Medtronic has taken the helm of an emerging medical device company in Plymouth.
Stacey Pugh, the former president of Medtronic’s neurovascular business, is now CEO for Endogenex Inc., the company announced this week.
In her role, Pugh will lead the company as it seeks to expand its clinical evaluations of its technology for treating Type 2 diabetes.
An experienced med-tech executive, Pugh was most recently the chief commercial officer at medical imaging provider Butterfly Network Inc. (NYSE: BFLY). Before that, she was with Medtronic (NYSE: MDT) in various roles from 2015 to 2021. Prior to that, she was with Covidien, serving as a vice president, according to her LinkedIn page.
Founded in partnership with Mayo Clinic, Endogenex is developing a treatment for Type 2 diabetes and is currently conducting clinical studies. Its investigational procedure, called the ReCET Procedure, works by having a physician use a small camera to insert the ReCET catheter through the mouth to the small intestine.
A small coil is then deployed from the catheter and an electric current is applied to the lining of the small intestine, the company says. This type of energy is intended to prompt the body to regenerate healthy cells for better control of blood sugar levels.
The procedure is currently being evaluated in global pre-commercialization trials, the company says. But the procedure has already received a “breakthrough device designation” from the FDA for Type 2 diabetes treatment in certain patients.
"I am very excited to be joining a company that has high-impact technology that has the potential to help so many people," Pugh said in an email to the Business Journal. "... This technology was born from a collaboration with local innovators and the Mayo Clinic, and there is no better place to develop it than the Minneapolis medical device ecosystem."
The company, formerly known as DyaMX Inc., recently raised $9.2 million out of a total funding goal of $13 million, according to securities filing. That was raised from seven investors, the filing shows.
Pugh declined to share employee headcount numbers or funding details, noting that the company is actively fundraising.
