Former Medtronic, Abbot Executive Steve Motes Tapped to Lead Tulyp Medical

Tulyp Medical has appointed medical device industry veteran Steve Motes as its CEO. The appointment follows positive results from the company’s first-in-human study.

“We are excited to welcome Steve to Tulyp,” said Mano Iyer, a partner at Sofinnova Partners. “He brings not only his wealth of experience and deep network in the MCS world, but also a proven ability to build companies in complex clinical markets. His appointment reinforces our conviction in Tulyp’s differentiated approach—addressing a fundamental limitation of flow-based perfusion by focusing on pressure as the key driver of tissue oxygenation. As I transition from CEO to the board, which is the natural and anticipated course of events within the unique Sofinnova MD Start accelerator model, I look forward to continuing to support the company’s strategic direction as we advance this technology toward broader clinical adoption and improved patient outcomes.”

Motes joins Tulyp with more than 30 years of experience in the medical device industry, primarily focused on cardiovascular technologies. He has held leadership roles at Draeger, Medtronic (formerly Somanetics), Edwards Lifesciences, and Abbott. At Abbott, he contributed to the launch of the HeartMate 3 LVAD system and played a key role in expanding the company’s ECMO business. More recently, he has served as CEO of several early-stage companies, including those in the MCS space.

“I am thrilled to join Tulyp at this pivotal stage,” Motes stated. “Tulyp is advancing a fundamentally different approach to perfusion that aligns more closely with how the body actually regulates oxygen delivery. In procedures where perfusion is compromised, maintaining pressure is critical to preserving tissue viability. The early data suggest this approach could meaningfully reduce complications and expand the standard of care in vascular interventions. I look forward to advancing this therapy toward broader clinical adoption and improved patient outcomes.”

Tulyp was founded by an experienced team of cardiologists, engineers, and entrepreneurs, including Tim Lenihan (co-founder and chief operating officer), Dr. Navin Kapur, and Dr. Richard Karas, who continue to advise the company. The team previously co-founded preCARDIA, a Sofinnova Partners’ MD Start company, acquired by Abiomed (a Johnson & Johnson company) in 2021, following the successful development of a device for treating acute decompensated heart failure.

Tulyp Medical Inc. is a Paris-based, privately held medical device company and part of Sofinnova MD Start, Sofinnova Partners’ medical device accelerator. The company is developing a patented pressure-driven perfusion system for vascular procedures. Based on the fundamental principle that oxygen delivery is governed by vascular pressure rather than flow, Tulyp’s technology is designed to improve tissue oxygenation and reduce complications in patients undergoing major interventions.

Sofinnova Partners is a European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London, and Milan, the firm brings together professionals worldwide with strong scientific, medical, and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing more than 500 companies and creating market leaders. Sofinnova Partners currently manages more than €4 billion in assets.