MELA Sciences Adds to its Board

MELA Sciences Inc. has added to its Board of Directors.

The company has appointed veteran medical device investment banker Samuel E. Navarro to its board, bringing total membership to eight.

Navarro brings to MELA a wealth of knowledge and industry expertise in finance, investment banking, mergers and acquisitions, equity research and investment management experience in the medical device industry. He currently is managing partner at Gravitas Healthcare, LLC. Before Gravitas, Navarro was managing director of Cowen & Co. in New York, N.Y., and head of its Medical Technology Investment Banking initiatives. At Cowen & Co., he led a team of senior managers and helped build the franchise across all product categories, including merger and acquisition/advisory and financing services and products. Before Cowen & Co., Navarro spent more than four years at The Galleon Group running the Galleon Healthcare Fund as a senior portfolio manager. He was responsible for all healthcare investments across all sectors, including pharmaceuticals / biopharmaceutical industries, medical technology and hospital supplies, and all areas of healthcare services. Prior to Galleon, Navarro was global head of Healthcare Investment Banking at ING Barings.

“Sam brings a tremendous breadth of experience, expertise and relationships across the medical device and healthcare industry and huge enthusiasm regarding MELA Sciences and our potential,” MELA Sciences CEO Rose Crane said. “We look forward to the vital insight and guidance Sam will provide as we move forward.”

Navarro also has served or serves on the boards of Arstasis, MicroTherapeutics, Jomed, Photomedex and Pixelux Entertainment.

Navarro received an M.B.A. in Finance from The Wharton School at the University of Pennsylvania, a Master of Science degree in Engineering from Stanford University in Stamford, Calif., and a Bachelor of Science degree in Engineering from The University of Texas at Austin.

“I am excited to contribute to the MELA Sciences Board as they execute their U.S. and European commercialization strategy for MelaFind and develop plans for other global markets. I also look forward to working with the company to evaluate and develop other potential applications for their optical diagnostic technology,” Navarro said in prepared remarks.

Based in Irvington, N.Y., MELA Sciences develops dermatology diagnostics utilizing state-of-the-art optical imaging. The company’s flagship product is MelaFind, a U.S. Food and Drgu Administration-, PMA- and CE Mark-approved, non-invasive diagnostic tool to help dermatologists evaluate and diagnose melanoma.

MelaFind uses various visible to near-infrared light waves to evaluate skin lesions from the surface to 2.5 mm beneath the skin. It provides images and data on the relative disorganization of a lesion’s cell structure that provides substantial additional perspective to improve melanoma diagnosis. MELA also is exploring new potential uses for its core imaging technology and algorithms.