NorthStar Medical Technologies, LLC, today announced the appointment of Paul Estrem, CPA, as Senior Vice President and Chief Financial Officer. Mr. Estrem holds financial responsibility for the operations of company, reporting to President and Chief Executive Officer Stephen Merrick. Mr. Estrem, former Chief Financial Officer at Melinta Therapeutics, Inc., brings to NorthStar more than 30 years of relevant financial experience in the life science and medical technology industries. The company is a global innovator in the production and distribution of radioisotopes used for medical imaging.
“Paul’s strong combination of leadership and financial experience in growing successful organizations should serve NorthStar well as we continue building a fully sustainable company,” said Stephen Merrick, President and Chief Executive Officer of NorthStar. “With the RadioGenix® System on the market, NorthStar has commercialized the first innovative technology for production of domestic Mo-99 in more than 30 years, and we look forward to benefitting from Paul’s experience. We anticipate that his skills will be a valuable resource in financial management as we advance our plans for additional RadioGenix enhancements and expanded production capacity of non-uranium based Mo-99.”
“I’m excited to be part of NorthStar, which is clearly driven in its mission to deliver novel technologies to produce medical radioisotopes critical for U.S. healthcare,” said Mr. Estrem. “NorthStar faces a pivotal stage of growth and development as it continues its maturation process, and I’m eager that I can contribute my financial experience in working with this dedicated team at an important inflection point in the company’s growth.”
Prior to joining NorthStar, Mr. Estrem served as CFO at Melinta Therapeutics, Inc., a company focused on the discovery, development and commercialization of novel antibiotics. During his five-year tenure there, Paul guided the company in converting from a private to public enterprise, raised more than $500 million in support of the company, assisted in the acquisition of products from other companies, facilitated a merger and supported the commercial launch of multiple products. Previously, he was with Baxter International, Inc. for more than 20 years, where he held both financial and non-financial positions of increasing responsibility. During his tenure at Baxter, his experiences included divisional CFO for various divisions of Baxter, CFO of Baxter’s operations in Japan and serving as the Vice-President of Integration for a large acquisition. Prior to Baxter, Paul was a public accountant with Arthur Andersen & Co.