Contura International, a manufacturer of therapeutic hydrogels, has appointed Rakesh Tailor as its new chief executive.

Tailor was the driving force behind Contura’s Bulkamid product for the treatment of stress urinary incontinence and oversaw its approval in the US, the creation of Contura’s US organisation and Bulkamid’s subsequent US launch. This commercial development paved the way for the sale of Bulkamid together with its global sales and marketing infrastructure to Axonics Modulation Technologies, a global medical device company for $200 million, with a potential future milestone fee of $35 million.

Tailor will now oversee the commercialisation of its other proprietary hydrogel products, particularly Arthrosamid for knee osteoarthritis and Arthramid Vet for use in animals.

Former chief executive Patrick Banks, after a decade at the helm, will reduce his time commitment to the company and remain on the board.

Tailor said: “We’re a close-knit team at Contura and our successes to date are a testament to a group of ambitious, talented and like-minded colleagues. The global success of Bulkamid is a milestone on which I firmly believe we can build. We have the energy and the momentum to drive the business forward and build value. Both Arthrosamid and Arthramid Vet are game-changing products and I am keen that as many patients as possible benefit from treatment with our hydrogel. To achieve this, we will invest in our people and I intend to be hands on in attracting the right talent to be part of our exciting future.”

Ian Jacobsen, chairman at Contura International, added: “Rakesh’s experience and passion as a leader, as well as his strategic vision and execution of plans puts Contura onto a tremendously exciting trajectory. The company has ambitious targets with Arthrosamid, Arthramid Vet and the production facility expansion – we are pleased to invest in ensuring we build our team to deliver on those plans.”

Headquartered in London, Contura operates a manufacturing facility in Copenhagen.