AVITA Medical, Inc. (NASDAQ: RCEL, ASX: AVH) (Company), a
regenerative medicine company leading the development and
commercialization of first-in-class devices and autologous cellular
therapies for skin restoration, today announced the results of its
2022 Annual Meeting of Stockholders, which was held virtually on
December 12, 2022 (United States) (being December 13, 2022 in
Australia).
Election of Directors: All five directors named
in the Company’s proxy statement dated October 19, 2022 (Proxy
Statement) were elected or re-elected, as applicable, to serve on
the Company’s Board of Directors: Louis Panaccio, Chair; James
Corbett, Executive Director and CEO; Professor Suzanne Crowe,
Director; Jeremy Curnock Cook, Director; and Jan Stern Reed,
Director.
Appointment of Independent Auditors:
Stockholders approved the ratification of Grant Thornton LLP as the
Company’s independent registered public accounting firm for the
fiscal year ending December 31, 2022, as described in the Proxy
Statement.
Amendments to the Company’s Amended and Restated
Bylaws: Stockholders did not approve the proposal to amend
the Company’s Amended and Restated Bylaws to reduce the quorum
requirement for stockholder meetings, as the number of votes
required to approve the proposal was not reached.
Issuance of Securities to Mr. Louis Panaccio:
Stockholders approved the grant of restricted stock units to
acquire shares of common stock of the Company (which may be
represented by CDIs) equal in value to US$87,500 (at the time of
the grant) and the grant of options to acquire shares of common
stock of the Company (which may be represented by CDIs) equal in
value to US$37,500 (at the time of the grant) to Mr. Louis
Panaccio, on the terms and conditions set out in the Proxy
Statement, pursuant to and for the purposes of ASX Listing Rule
10.11.
Issuance of Securities to Professor Suzanne
Crowe: Stockholders approved the grant of restricted stock
units to acquire shares of common stock of the Company (which may
be represented by CDIs) equal in value to US$87,500 (at the time of
the grant) and the grant of options to acquire shares of common
stock of the Company (which may be represented by CDIs) equal in
value to US$37,500 (at the time of the grant) to Professor Suzanne
Crowe, on the terms and conditions set out in the Proxy Statement,
pursuant to and for the purposes of ASX Listing Rule 10.11.
Issuance of Securities to Mr. Jeremy Curnock
Cook: Stockholders approved the grant of restricted stock
units to acquire shares of common stock of the Company (which may
be represented by CDIs) equal in value to US$87,500 (at the time of
the grant) and the grant of options to acquire shares of common
stock of the Company (which may be represented by CDIs) equal in
value to US$37,500 (at the time of the grant) to Mr. Jeremy Curnock
Cook, on the terms and conditions set out in the Proxy Statement,
pursuant to and for the purposes of ASX Listing Rule 10.11.
Issuance of Securities to Ms. Jan Stern Reed:
Stockholders approved the grant of restricted stock units to
acquire shares of common stock of the Company (which may be
represented by CDIs) equal in value to US$87,500 (at the time of
the grant) and the grant of options to acquire shares of common
stock of the Company (which may be represented by CDIs) equal in
value to US$37,500 (at the time of the grant) to Ms. Jan Stern
Reed, on the terms and conditions set out in the Proxy Statement,
pursuant to and for the purposes of ASX Listing Rule 10.11.
Issuance of Securities to Mr. James Corbett:
Stockholders approved the grant of options to acquire shares of
common stock of the Company (which may be represented by CDIs)
equal in value to US$1,000,000 (at the time of the grant) to Mr.
James Corbett on the terms and conditions set out in the Proxy
Statement, pursuant to and for the purposes of ASX Listing Rule
10.11.
Advisory Vote to Approve Compensation of Named Executive
Officers: Stockholders voted in favor of the non-binding
advisory vote to approve the compensation of the Company’s named
executive officers.
The final votes have been reported in a Form 8-K that was filed
with the Securities and Exchange Commission earlier today. The
filing can be found on the Company’s website at
https://ir.avitamedical.com/financials/sec-filings.
The voting results of the Annual Meeting of Stockholders for the
purposes of ASX Listing Rule 3.13.2 are attached to this
announcement.
Authorized for release by the Chief Executive Officer of AVITA
Medical, Inc.
ABOUT AVITA MEDICAL, INC.AVITA Medical® is a
regenerative medicine company leading the development and
commercialization of devices and autologous cellular therapies for
skin restoration. The RECELL® System technology platform, approved
by the FDA for the treatment of acute thermal burns in both adults
and children, harnesses the regenerative properties of a patient’s
own skin to create Spray-On Skin™ cells. Delivered at the point-of-
care, RECELL enables improved clinical outcomes and validated cost
savings. RECELL is the catalyst of a new treatment paradigm and
AVITA Medical is leveraging its proven and differentiated
capabilities to develop first-in-class cellular therapies for
multiple indications, including soft tissue repair and
repigmentation of stable vitiligo lesions.
AVITA Medical’s first U.S. product, the RECELL System, was
approved by the U.S. Food and Drug Administration (FDA) in
September 2018. The RECELL System is approved for acute
partial-thickness thermal burn wounds in patients 18 years of age
and older or application in combination with meshed autografting
for acute full-thickness thermal burn wounds in pediatric and adult
patients. In February 2022, the FDA reviewed and approved the PMA
supplement for RECELL Autologous Cell Harvesting Device, an
enhanced RECELL System aimed at providing clinicians a more
efficient user experience and simplified workflow.
The RECELL System is used to prepare Spray-On Skin™ Cells using
a small amount of a patient’s own skin, providing a new way to
treat severe burns, while significantly reducing the amount of
donor skin required. The RECELL System is designed to be used at
the point of care alone or in combination with autografts depending
on the depth of the burn injury. Compelling data from randomized,
controlled clinical trials conducted at major U.S. burn centers and
real-world use in more than 15,000 patients globally, reinforce
that the RECELL System is a significant advancement over the
current standard of care for burn patients and offers benefits in
clinical outcomes and cost savings. Healthcare professionals should
read the INSTRUCTIONS FOR USE - RECELL Autologous Cell Harvesting
Device (https://recellsystem.com) for a full description of
indications for use and important safety information including
contraindications, warnings, and precautions.
In international markets, our products are approved under the
RECELL System brand to promote skin healing in a wide range of
applications including burns, soft tissue repair, vitiligo, and
aesthetics. The RECELL System is TGA-registered in Australia,
received CE-mark approval in Europe and has PMDA approval in
Japan.
To learn more, visit www.avitamedical.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING
STATEMENTS
This press release includes forward-looking statements. These
forward-looking statements generally can be identified by the use
of words such as “anticipate,” “expect,” “intend,” “could,” “may,”
“will,” “believe,” “estimate,” “look forward,” “forecast,” “goal,”
“target,” “project,” “continue,” “outlook,” “guidance,” “future,”
other words of similar meaning and the use of future dates.
Forward-looking statements in this press release include, but are
not limited to, statements concerning, among other things, our
ongoing clinical trials and product development activities,
regulatory approval of our products, the potential for future
growth in our business, and our ability to achieve our key
strategic, operational and financial goal. Forward-looking
statements by their nature address matters that are, to different
degrees, uncertain. Each forward-looking statement contained in
this press release is subject to risks and uncertainties that could
cause actual results to differ materially from those expressed or
implied by such statement. Applicable risks and uncertainties
include, among others, the timing of regulatory approvals of our
products; physician acceptance, endorsement, and use of our
products; failure to achieve the anticipated benefits from approval
of our products; the effect of regulatory actions; product
liability claims; risks associated with international operations
and expansion; and other business effects, including the effects of
industry, economic or political conditions outside of the company’s
control. Investors should not place considerable reliance on
the forward-looking statements contained in this press
release. Investors are encouraged to read our publicly available
filings for a discussion of these and other risks and
uncertainties. The forward-looking statements in this press release
speak only as of the date of this release, and we undertake no
obligation to update or revise any of these statements.
This press release was authorized by the review committee of
AVITA Medical, Inc.
FOR FURTHER INFORMATION:
Investors & MediaAVITA Medical, Inc.Jessica
EkebergPhone
+1-661-904-9269investor@avitamedical.commedia@avitamedical.com |
AVITA Medical, Inc.
Annual Meeting of
Shareholders
December 12, 2022 (United States) /
December 13, 2022 (Australia) Voting Results
The following information is provided for the purposes of ASX
Listing Rule 3.13.2.
Resolution details |
Instructions given to validly appointed proxies (as at
proxy close) |
Number of votes cast on the poll |
Resolution result |
Resolution |
For |
Against |
Proxy’s discretion |
Abstain |
For |
Against |
Abstain* |
Carried / not carried |
Resolution 1: Election of Directors to serve a one-year term |
9,299,761 |
|
|
1.685,226 |
9,299,761 |
0 |
1,685,226 |
Carried |
Louis Panaccio, Non- Executive Chairman of the Board of
Directors |
84.66% |
0% |
0% |
15.34% |
84.66% |
0% |
15.34% |
Resolution 1: Election of Directors to serve a one- year
term |
10,360,740 |
0 |
0 |
624,247 |
10,360,740 |
0 |
624,247 |
Carried |
James Corbett, Executive Director and Chief Executive Officer |
94.32% |
0% |
0% |
5.68% |
94.32% |
0% |
5.68% |
Resolution 1: Election of Directors to serve a one- year term |
9,803,894 |
0 |
0 |
1,181,093 |
9,855,810 |
0 |
1,181,093 |
Carried |
Jeremy Curnock Cook, Non-Executive Director |
89.25% |
0% |
0% |
10.75% |
87.45% |
0% |
10.75% |
Resolution 1: Election of Directors to serve a one- year term |
9,216,541 |
0 |
0 |
1,768,446 |
9,216,541 |
0 |
1,768,446 |
Carried |
Professor Suzanne Crowe, Non- Executive Director |
83.90% |
0% |
0% |
16.10% |
83.90% |
0% |
16.10% |
Resolution 1: Election of Directors to serve a one- year term |
9,926,444 |
0 |
0 |
1,058,543 |
9,926,444 |
0 |
1,058,543 |
Carried |
Jan Stern Reed, Non- Executive Director |
90.36 |
0% |
0% |
9.64% |
90.36% |
0% |
9.64% |
Resolution 2: To ratify the appointment of Grant Thornton LLP as
the Company’s independent public accountants for the fiscal year
ending December 31, 2022. |
12,430,789 |
224,743 |
0 |
258,367 |
12,430,789 |
224,743 |
258,367 |
Carried |
96.26% |
1.74% |
0% |
2.00% |
96.26% |
1.74% |
2.00% |
Resolution 3: To approve amendments to the Company’s Amended and
Restated Bylaws to reduce the quorum requirement for stockholder
meetings. |
9,587,285 |
956,344 |
0 |
441,358 |
9,587,285 |
956,344 |
441,358 |
Not Carried** |
87.27% |
8.71% |
0% |
4.02% |
87.27% |
8.71% |
4.02% |
Resolution 4: To approve the grant of restricted stock units to
acquire shares of common stock of the Company (which may be
represented by CDIs) equal in value to US$87,500(at the time of the
grant) and the grant of options to acquire shares of common
stock of the Company (which may be represented by CDIs) equal
in value to US$37,500 (at the time of the grant) to Mr. Louis
Panaccio on the terms and conditions set out in this Proxy
Statement, pursuant to and for the purposes of ASX Listing Rule
10.11. |
7,637,405 |
2,735,159 |
0 |
612,423 |
7,637,405 |
2,735,159 |
612,423 |
Carried |
69.52% |
24.90% |
0% |
5.58% |
69.52% |
24.90% |
5.58% |
Resolution 5: To approve the grant of restricted stock units to
acquire shares of common stock of the Company (which may be
represented by CDIs) equal in value to US$87,500(at the time of the
grant) and the grant of options to acquire shares of common
stock of the Company (which may be represented by CDIs) equal
in value to US$37,500 (at the time of the grant) to Professor
Suzanne Crowe on the terms and conditions set out in this
Proxy Statement, pursuant to and for the purposes of ASX Listing
Rule 10.11. |
7,656,800 |
2,666,551 |
0 |
661,636 |
7,656,800 |
2,666,551 |
661,636 |
Carried |
69.71% |
24.27% |
0% |
6.02% |
69.71% |
24.27% |
6.02% |
Resolution 6: To approve the grant of restricted stock units to
acquire shares of common stock of the Company (which may be
represented by CDIs) equal in value to US$87,500(at the time of the
grant) and the grant of options to acquire shares of common
stock of the Company (which may be represented by CDIs) equal
in value to US$37,500 (at the time of the grant) to Mr. Jeremy
Curnock Cook on the terms and conditions set out in this Proxy
Statement, pursuant to and for the purposes of ASX Listing
Rule 10.11. |
7,612,792 |
2,745,543 |
0 |
626,652 |
7,612,792 |
2,745,543 |
626,652 |
Carried |
69.31% |
24.99% |
0% |
5.70% |
69.31% |
24.99% |
5.70% |
Resolution 7: To approve the grant of restricted stock units to
acquire shares of common stock of the Company (which may be
represented by CDIs) equal in value to US$87,500(at the time of the
grant) and the grant of options to acquire shares
of common stock of the Company (which may be represented
by CDIs) equal in value to US$37,500 (at the time of the
grant) to Ms. Jan Stern Reed on the terms and conditions set out in
this Proxy Statement, pursuant to and for the purposes of ASX
Listing Rule 10.11. |
7,657,643 |
2,674,563 |
0 |
652,781 |
7,657,643 |
2,674,563 |
652,781 |
Carried |
69.71% |
24.35% |
0% |
5.94% |
69.71% |
24.35% |
5.94% |
Resolution 8: To approve the grant of options to acquire shares of
common stock of the Company (which may be represented by CDIs)
equal in value to US$1,000,000(at the time of the grant) to Mr.
James Corbett on the terms and conditions set out in this Proxy
Statement, pursuant to and for the purposes of ASX Listing
Rule 10.11. |
8,476,617 |
1,869,887 |
0 |
638,483 |
8,476,617 |
1,869,887 |
638,483 |
Carried |
77.17% |
17.02% |
0% |
5.81% |
77.17% |
17.02% |
5.81% |
Resolution 9: Advisory vote to approve the compensation of the
Company’s named executive officers. |
7,832,181 |
2,381,954 |
0 |
770,852 |
7,832,181 |
2,381,954 |
770,852 |
Carried |
71.30% |
21.68% |
0% |
7.02% |
71.30% |
21.68% |
7.02% |
*Votes relating to a person who abstained on Resolution 1 or any
of Resolutions 4 - 8 (as applicable) were not counted in
determining whether or not the required majority of votes were cast
for or against that Resolution. Votes relating to a person who
abstained on Resolutions 2, 3 or 9 (as applicable) were counted as
votes “AGAINST” that Resolution in determining whether or not the
required majority of votes were cast for or against that
Resolution.
**Resolution 3 was not carried as the number of votes required
to approve the proposal was not reached.
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