Ancora Heart appoints David J. Tucker as chief financial officer

Santa Clara, Calif.– October 12, 2022 – Ancora Heart, Inc., a company developing a novel device-based therapy to address heart failure (HF), today announced that David J. Tucker has joined the company as chief financial officer. He will direct the company’s financial strategies and operations as it continues to enroll patients in the CORCINCH-HF pivotal clinical trial, which is evaluating the AccuCinch® Ventricular Restoration System, the only completely transcatheter procedure to treat the enlarged left ventricle for patients with symptomatic heart failure and a reduced ejection fraction (HFrEF). Tucker represents the company’s second C-suite hire in the last four months, following the addition of Mark Miles as chief commercial officer in June.

“David’s experience includes providing financial leadership across a broad spectrum of companies at a variety of stages, including both public and private life sciences organizations, and we are thrilled to have him join our team,” said Jeff Closs, president and CEO of Ancora Heart. “While our current clinical focus is on the CORCINCH-HF pivotal trial, we are also looking toward the future, which includes a goal of eventual commercialization. David’s expertise in financial planning, operations, and fundraising for organizations pioneering novel therapeutics make him an excellent person to have at the helm of our finance function during this next phase of growth.”

A fundamentally different and innovative device-based therapy, the AccuCinch System is designed to improve the structure and function of the heart and help bring relief to patients with heart failure who remain symptomatic despite current guideline-directed medical care.

“Ancora Heart is at a very exciting point in its growth pathway, and I am excited to be joining the team at this stage,” said Tucker. “The core values of the Ancora team, which are focused on helping patients live healthier lives, align strongly with my own. I believe that the AccuCinch System has great potential as a treatment option for patients with heart failure and look forward to this opportunity to provide financial leadership to the company.”

Tucker brings nearly 20 years of experience providing financial leadership for life sciences companies to his role as chief financial officer. Prior to joining Ancora Heart, he served as vice president of finance at Atara Biotherapeutics, Inc., which he joined in 2015. Tucker is also president and chairman of the Board of the Northern California Chapter of the Association of Bioscience Financial Officers, a position he has held since 2017.

Previously, Tucker served as vice president of finance at Sunesis Pharmaceuticals and as principal accounting officer at CymaBay Therapeutics. He also held similar positions at Nuvelo and IntraBiotics Pharmaceuticals. Tucker qualified as a chartered accountant in the UK while at Ernst & Young and holds a BS in mathematics from the University of Bristol, England.

About the AccuCinch® Ventricular Restoration System

The AccuCinch System is an investigational device designed to augment the existing care cardiologists provide their heart failure (HF) patients. For patients in whom HF has progressed beyond the ability of medications and pacemakers to manage symptoms, the AccuCinch System may provide a new treatment option to fill the gap between medication or pacemaker therapy and left ventricular assist devices (LVADs) or a heart transplant.

During the minimally invasive transcatheter AccuCinch System procedure, a flexible implant is attached to the inner wall of the left ventricle and then cinched. The implant is intended to reduce the size of the left ventricle, reduce ventricular wall stress, and support and strengthen the heart wall. By directly treating the left ventricle, the AccuCinch System may help reduce symptoms, improve quality of life and potentially increase life expectancy.

The CORCINCH-HF pivotal trial is underway, designed to evaluate the safety and efficacy of the AccuCinch® Ventricular Restoration System in patients who have symptomatic heart failure with reduced ejection fraction (HFrEF). (ClinicalTrials.gov Identifier: NCT04331769).  This study is being conducted to support the submission of a Premarket Approval (PMA) application to the U.S. Food and Drug Administration.