how much could we raise in a new spp?, page-18

n6337759,

I agree that the point of sending Crosby here and there was to promote the VCR implant, and he was also overpaid probably with the hope that he will make the company profitable as he repeatedly claimed that he will.

Yes, it is largely a coincidence that the implant rate increased while Crosby happend to be with the company. Crosby joined VCR after both US feasibility trial and CE Marking trial were already approved - the path for a steep increase in implant rate was already laid down by the team put in place by the previous CEOs.

Although more than half of the total number of implants to date were performed in Europe and Australia, markets where the VentrAssist gained marketing approval, Crosby did very little, if anything, to set up proper marketing and distribution networks in Europe, a market the same size as the US. He failed to put in place structures for getting reimbursement in EU countries for the device, largely because he is totally ignorant of a market which is roughly the same size as the US. This would have probably been excused if he had managed a successful outcome in the US, where he claims to be an expert, but failed to achieve this.

His poor management of the CRO in the US and some of his actions led to lengthy delays in getting the US BTT and DT trials approved. With all his first class travels to and fro the US, not a sigle patient was actually implanted in the DT trial. Please read this again: NOT A SINGLE DT IMPLANT HAS ACTUALLY BEEN PERFORMED IN THE US, although the FDA had already given its approval in March 2008. For legal reasons I cannot provide any more details than this.

n6337759, I admire your generosity of spirit and the effort to give this individual a fair go, but the evidence speaks against him. I watched again the ABC Lateline program and the interviews with some of the shareholders. How must the guy who is about to lose his home feel knowing that his investment was squandered by someone who was richly rewarded for such a poor performance?

Hopefully Orqis will not outbid the DOCA put forward by the SH. Roumors have it someone is trying to cut a deal with Orqis. One would be forgiven for speculating that would not be for a meager scientific position, but rather for a more substantial one such as chairman or board director.