SAN FRANCISCO–Applaud Medical, an emerging leader in the treatment of urinary stone disease, announced today the appointment of industry veteran Paul Molloy (Molloy) as Chief Executive Officer (CEO). The company has also added Molloy to its Board of Directors.
Molloy is an experienced MedTech CEO and General Manager with extensive global venture capital and private equity relationships. Prior to joining Applaud Medical, Molloy was President and CEO of ClearFlow, where he remains Chairman of the Board. Molloy is also currently a member of the Board of Directors for Augustine Medical. Prior to the above, he was President of the Vascular Division (Arrow Vascular) at Teleflex. Molloy has participated in two initial public offerings, leading one as CEO of LMA International NV. He also led strategic exits at three of his last four companies while he was. Molloy holds an MBA from University of Chicago Booth School of Business and previously earned a diploma in Hospital Management from the Instituut Der Bedrijfswetenschappen. He was also a clinically practicing CRNA after earning a degree from Academisch Medisch Centrum, Alkmaar.
“I am excited to join the Applaud Medical team as the company begins its transition from technology development and clinical studies to the preparation for commercialization of our novel technology to treat urinary stone disease,” stated Molloy. “The company is well-capitalized and is making excellent progress with both product development and clinical activities. These efforts are paving the way for us to successfully achieve regulatory approvals and reimbursement for our products across all clinical settings, which in turn will lead to the broad acceptance our of technology by clinicians and potential exit opportunities for the company.”
“Applaud Medical has made tremendous progress with developing its revolutionary kidney stone treatment through early development work and multiple subsequent clinical trials, both in the US and internationally,” Alex Andrianopoulos, Chief R&D Officer at Kairos Ventures and Applaud Medical board director, said. “Kairos Ventures has proudly supported Applaud through all this work and we are now excited to welcome Paul Molloy taking the helm of Applaud, as it prepares to conduct its pivotal trial that hopefully will allow acute kidney stone patients to be treated at a physician’s office in less than 30 minutes. I am deeply appreciative of Tom Kenny’s wonderful efforts in steering Applaud deftly and very successfully through a very difficult time during the Covid pandemic.”
Molloy is replacing Thomas Kenny as CEO of the company. Kenny is one of the founders of Applaud Medical who took a leave of absence from his position at Stanford University in early 2020 to lead the company’s R&D and early clinical efforts. While Kenny has recently returned to his position at Stanford, he will continue with Applaud Medical as Chairman of the Company’s Board of Directors.
About Applaud Medical
Applaud Medical is a privately held company which aims to improve treatment methods, patient experiences and medical costs for all patients experiencing the effects of urinary stone disease. The company has developed an innovative technology designed to increase fragmentation of urinary stones. The company is also currently conducting the prospective, multicenter, randomized double-blind AEROLITH (Acoustic Enhancer Research on Laser Lithotripsy) clinical trial (NCT04563039) which is evaluating the safety and effectiveness of Applaud Acoustic Enhancer when used in conjunction with conventional ureteroscopic laser lithotripsy (URS-LL) in the treatment of subjects with urinary stones.
