CorWave announces the appointment of Magalie Durrèche as Chief Financial Officer

Clichy, France, September 26th, 2023 – CorWave, a French company developing and manufacturing innovative cardiac assist devices, announces the appointment of Magalie Durrèche as Chief Financial Officer. Magalie Durrèche has over twenty years of experience in corporate finance, mainly in the industrial sector, which will be a major asset for the development of CorWave.

Before joining CorWave, Magalie Durrèche served as the Chief Financial Officer, Aftersales & Circular Economy, for the entire Stellantis group, an automotive company with a net revenue of €179.6 billion (2022) and industrial operations in more than 30 countries. After graduating from Neoma Business School, she began her career in financial auditing at PwC before joining the Financial Consolidation teams at Sodexo. She later joined the automotive manufacturer PSA, where she held various positions within the financial department between 2008 and 2015, providing her with a 360-degree view of the group’s various activities (Research and Development, Production and Industrial Partnerships, Sales, Financing, etc.). In 2015, she was appointed Head of Investor Relations and took part in the rollout of PSA Group’s profitable growth plan “Push to Pass” to financial markets. She was promoted in 2017 to Chief Financial Officer of PSA Bank (now Stellantis Financial Services), a group operating in 14 countries and generating over €1.5 billion in net banking income. In early 2020, she became Director of Consolidation and Financial Reporting and joined the project team for the merger between PSA and FCA (Fiat Chrysler Automobiles). She thus actively contributed to the formation of the New York Stock Exchange (NYSE)-listed Stellantis Group.

Magalie Durrèche will oversee the financial management and participate in the strategic planning and fundraising of CorWave, a company developing and manufacturing a blood pump based on breakthrough technology. She succeeds Zina Hamoumi, who served as Chief Financial Officer for five years before deciding to focus on other projects.

Magalie Durrèche, Chief Financial Officer of CorWave, states: “I am very pleased to join CorWave and to participate in its transformation into an industrial company in the clinical phase and then in the commercial phase. CorWave is at a pivotal time, having recently completed a second closing of its Series C and preparing to inaugurate its industrial site.”

“I am thrilled to welcome Magalie as Chief Financial Officer” comments Louis de Lillers, Chief Executive Officer of CorWave. “She brings solid experience, having held very high responsibilities within Stellantis, an industrial group of international scale. Endowed with a deep entrepreneurial mindset, Magalie will contribute to transforming CorWave into a global leader in cardiac assist devices. Her knowledge of the European and American financial markets, along with her experience with ESG (Environmental, Social, and Governance) matters, will be valuable assets for our upcoming growth phases. I would also like to warmly thank Zina Hamoumi who has greatly contributed to the development of CorWave in recent years.”

About CorWave
CorWave is a French company developing innovative cardiac assist devices. CorWave's wave membrane is a breakthrough technology that differs from today's commercially available left ventricular assist devices (LVADs) by its physiological operation, designed to mimic a pulse and blood flow rates similar to those of a healthy heart. Ultimately, CorWave's membrane pump technology is expected to reduce the complications associated with current devices and improve the management of heart failure patients. Member of the French Tech 120, CorWave was founded in 2012 by start-up studio MD Start and is funded by renowned investors including Bpifrance, Exor Ventures, EIC Fund, Financière Arbevel, M&L Healthcare, Novo Holdings, Seventure Partners, Sofinnova Partners, Ysios Capital and Vlerick Group. The company has secured over €80 million in equity and employs over seventy people.

For more information: www.corwave.com | www.linkedin.com/company/corwave

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Taddeo Camille Duchiron

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