Holaira Bolsters Executive Team

MINNEAPOLIS, MN--(Marketwire - Feb 26, 2013) -  Holaira, Inc., formerly Innovative Pulmonary Solutions, Inc. (IPS), a developer of medical devices to treat obstructive lung diseases, today announced the expansion of the executive team as the company prepares for the next stage of product development and future clinical trials.

Holaira is working on a novel catheter-based system for a procedure called Targeted Lung Denervation, that is designed to make breathing easier for patients with chronic obstructive pulmonary disease (COPD). Targeted Lung Denervation or TLD is a minimally invasive bronchoscopic procedure that has the potential to provide lasting improvement for these patients.

Steve Mertens joins the company as senior vice president of operations, Kari Kubesh as chief financial officer, Mahtab Fatemi joins as director of regulatory affairs, and Jim Pavliska joins as vice president of clinical affairs.

Steve Mertens brings more than 20 years of medical device operational experience to Holaira. As a former senior vice president at Boston Scientific, he guided a wide range of technologies through product development for the cardiology, electrophysiology and peripheral vascular markets. In his new role, Mr. Mertens will oversee research and development, quality and manufacturing.

Kari Kubesh joins Holaira with specialized early stage corporate finance experience. Ms. Kubesh recently served as vice president of finance & administration at Lutonix, Inc., a medical device start up acquired by CR Bard, Inc. in 2011. Before that, she served as controller at Velocimed, LLC, which was acquired by St. Jude Medical.

Mahtab Fatemi has extensive experience in executing regulatory strategies for pharmaceuticals and medical devices. Ms. Fatemi has a solid record overseeing US and global regulatory submissions. At Holaira, Ms. Fatemi will oversee corporate efforts to ensure that developed products meet the requirements of the US FDA and other international regulatory authorities.

Jim Pavliska brings valuable insight to the clinical program at Holaira. Having developed and managed the clinical program for a vascular catheter product at Lutonix and earlier, interventional cardiology devices at Velocimed, Mr. Pavliska brings a seasoned understanding of the challenges and requirements of running multi-phase, global clinical trial programs.

"The expansion of our management team with individuals possessing such a wealth of industry experience will prepare us well for the exciting challenges ahead as we develop and ultimately commercialize products," said Dennis Wahr, M.D., president and chief executive officer of Holaira. "We are pleased to welcome, Steve, Kari, Mahtab and Jim to our team."

About Holaira - Holaira, Inc. (formerly Innovative Pulmonary Solutions, Inc.) is a privately held lung denervation company developing minimally invasive products to make breathing easier for patients suffering from obstructive lung diseases. Founded in 2008, Holaira is currently working on a novel catheter-based system that has the potential to improve lung function, exercise capacity and quality of life for patients with chronic obstructive pulmonary disease.