AVITA Medical Announces Appointment of David O’Toole as Chief Financial Officer
June 15 2023 - 4:05PM
AVITA Medical, Inc. (NASDAQ: RCEL, ASX: AVH), a regenerative
medicine company leading the development and commercialization of
first-in-class devices and autologous cellular therapies for skin
restoration, today announced the appointment of David O’Toole as
its new Chief Financial Officer, effective June 15, 2023.
O’Toole is an accomplished financial executive with more than 30
years of experience in global corporate finance, capital markets,
and accounting across biotech and life sciences companies. He has a
demonstrated track record of developing and executing successful
growth strategies in a number of public companies. O’Toole will
play a critical role in executing the company's strategic growth
initiatives and in leading the financial organization.
“We are thrilled to welcome David as the new CFO of AVITA
Medical,” said Jim Corbett, Chief Executive Officer of AVITA
Medical. “David brings significant capital markets experience that
will strengthen our market presence and his extensive financial
background within public companies will be instrumental as we
commercialize the AVITA Medical platform.”
O’Toole most recently served as CFO of Opiant Pharmaceuticals, a
biopharmaceutical company developing treatments for addiction and
drug overdose, which was acquired by Indivior PLC in March of 2023.
Prior to that, he served as CFO of Soleno Therapeutics, a company
focused on the development and commercialization of novel
therapeutics for the treatment of rare diseases. Prior to Soleno,
O’Toole held the role of CFO for three publicly traded life
sciences companies where he built and led high-performance teams.
Prior to his CFO experience, O’Toole spent 24 years in public
accounting, including 16 years with Deloitte & Touche. He holds
a Bachelor of Science in accounting from the University of Arizona
and is a Certified Public Accountant (non-active).
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 thermal burn wounds and
full-thickness skin defects, 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 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 and full-thickness skin defects after traumatic avulsion
(e.g. degloving) or surgical excision (excision (e.g., necrotizing
soft tissue infection) or resection (e.g., skin cancer), in
patients 15 years of age and older. 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 wounds, 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 or in combination with meshed
autographs for full-thickness skin defects. 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.
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 statements. Applicable risks and uncertainties
include, among others, the timing and realization 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.
FOR FURTHER INFORMATION:
Investors & MediaAVITA Medical,
Inc.Jessica EkebergPhone +1-661-904-9269
investor@avitamedical.commedia@avitamedical.com |
Avita Medical (NASDAQ:RCEL)
Historical Stock Chart
From Apr 2024 to May 2024
Avita Medical (NASDAQ:RCEL)
Historical Stock Chart
From May 2023 to May 2024