Contura International Ltd, manufacturers of innovative therapeutic hydrogels, is delighted to announce that it has appointed Rakesh Tailor as the new Chief Executive Officer.
Rakesh has been instrumental in Contura’s development over the years and was the driving force behind the global success of Bulkamid® for the treatment of stress urinary incontinence (SUI). Having become market leader for SUI in Europe, Rakesh oversaw the approval of Bulkamid in the United States, the creation of Contura’s US organisation and Bulkamid’s subsequent US launch. This commercial development paved the way for the successful sale of Bulkamid together with its global sales and marketing infrastructure to Axonics Modulation Technologies, Inc (NASDAQ: AXNX), a global medical device company for US$200 million, with a potential future milestone fee of US$35 million in February 2021.
Rakesh will now oversee the commercialisation of its other key proprietary hydrogel products, particularly Arthrosamid® for knee osteoarthritis and Arthramid® Vet for use in animals. Former CEO Patrick Banks, after a decade at the helm, will reduce his time commitment to the company and remain on the Board.
Headquartered in London, Contura operates a state-of-the-art manufacturing facility in Copenhagen, Denmark. This manufacturing provision is central to the business growth strategy, with a planned expansion of the current plant which will substantially increase production capacity.
Rakesh Tailor, Chief Executive Officer at Contura International comments, “I’m absolutely thrilled to be taking up the position of CEO and excited about the opportunities that lie ahead. We’re a close knit team at Contura and our successes to date are a testament to a group of ambitious, talented and like-minded colleagues. The global success of Bulkamid is a milestone on which I firmly believe we can build. We have the energy and the momentum to drive the business forward and build value. Both Arthrosamid and Arthramid Vet are game changing products and I am keen that as many patients as possible benefit from treatment with our hydrogel. To achieve this, we will invest in our people and I intend to be “hands on” in attracting the right talent to be part of our exciting future.”
Commenting on Rakesh’s appointment as CEO, Ian Jacobsen, Chairman at Contura International, “Rakesh’s experience and passion as a leader, as well as his strategic vision and execution of plans puts Contura onto a tremendously exciting trajectory. The Company has ambitious targets with Arthrosamid, Arthramid Vet and the production facility expansion – we are pleased to invest in ensuring we build our team to deliver on those plans.”