Medical firm Mainstay appoints new CFO

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Medical firm Mainstay appoints new CFO


Matthew Onaitis, CFO of Mainstay Medical
Matthew Onaitis, CFO of Mainstay Medical

Dublin-listed Mainstay Medical has appointed Matthew Onaitis as its chief financial officer, effective today.

Mr Onaitis has worked with healthcare businesses for 20 years, ranging from global multinationals including Biogen Idec and Elan Pharmaceuticals, to innovative specialty pharmaceutical companies such as Ignyta, Trius Therapeutics, and Somaxon Pharmaceuticals.

He most recently served as CFO of Cidara Therapeutics, a biotechnology company developing novel anti-infectives including immunotherapies.

“I am delighted Matt is joining Mainstay as we continue to build the business, expand our geographic reach and move towards the potential launch of ReActiv8 in the US,” Jason Hannon, CEO of Mainstay, said.

“His breadth of experience, as well as his deep knowledge in financing innovative growth companies like ours, are the very skills Mainstay needs at this stage of its growth.”

During Mr Onaitis’ tenure at Cidara, the company raised over $185m and successfully progressed its lead program into late-stage clinical trials, Mainstay said in a statement.

Cidara is one of four publicly-traded healthcare companies at which Mr. Onaitis has been a senior executive.

Mainstay is a medical device company which is focused on developing a product – Reactiv8 – aimed at stopping chronic lower back pain.

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