Encora Therapuetics, maker of a wearable device that targets essential tremors in patients, named Nadim Yared as chairman and CEO as previous chief and company co-founder Daniel Carballo takes on the role of vice president of strategy.
The step down by Carballo, who co-founded the Cambridge, Massachusetts-based company in 2018, comes as Encore waits for the FDA to complete its 510(k) review of the Encore Pulse.
The company's device, which senses and counteracts motor symptoms in real time by applying customized vibratory stimulation to the wrist and is primarily aimed at helping patients with Parkinson’s disease, won an FDA breakthrough device designation in 2021.
Before joining Encora, Yared served as president and chief executive of CVRx, where he oversaw the clinical, commercial and fundraising that included taking the devicemaker public in 2021, Encore said in an Oct. 2 press release.
Somewhat similar to Encora, CVRx produces a device called the Barostim Neo implant that distributes electrical pulses that trigger the brain into regulating imbalances in the nervous system, ultimately acting as a treatment for heart failure.
“The team (at Encora) has developed a compelling, patient-centered platform with the potential to meaningfully improve daily function for people with movement disorders,” Yared said in the release. “I’m committed to advancing rigorous clinical evidence, building scalable commercial pathways, and partnering with clinicians and patients to deliver measurable impact.”
Carballo added that Nadim brings a systems-driven approach to scaling medtech companies and a track record of combining product development with evidence generation and commercialization plans to the table for Encora.
“I’m excited to remain deeply involved as VP of Strategy, partnering with Nadim to accelerate our therapy to patients,” he said.
Encora successfully completed its 47-patient ULTRE (Upper Limb Tremor Reduction in Essential Tremor) clinical trial last November. The study received recognition as an “Abstract of Distinction” by the American Academy of Neurology and the Science Committee earlier this year.