Avita Announces New Chief Financial Officer; Existing CFO Moves to Chief Administrative Officer
December 05 2017 - 12:59AM
Business Wire
Executive Appointments Align with Global
Commercialization Strategy
Avita Medical (ASX:AVH) (OTCQX:AVMXY), a
regenerative medicine company with a technology platform positioned
to address opportunities and unmet medical needs in burns, chronic
wounds, and aesthetics indications, announced that Dale A.
Sander has been appointed Avita’s new Chief
Financial Officer (CFO) effective today. Dale will
be responsible for overseeing the global finance and investor
relations functions, and aligning them with the company’s
commercialization strategy. Current CFO, Tim Rooney, has
been appointed Avita’s Chief Administrative Officer
(CAO), responsible for global operations and supply chain
management, human resources, and information technology. Both
executives will be based in Valencia, CA.
“These executive changes come at a pivotal time in the
transformation of our company,” said Dr. Mike Perry, CEO,
Avita Medical. “Dale has more than 20 years of experience,
including serving as CFO of four medical device and pharmaceutical
companies as well as eleven years of leading public companies in
the CFO role. Dale brings extensive experience in leading both
public and private equity offerings, including multiple IPOs in the
U.S. and Europe. He also has a strong track record of managing
investor relations in these markets as well as in Asia. Dale’s
expertise will be critical in supporting our commercialization
strategy in advance of our anticipated approval of ReCell® in the
United States.”
Tim Rooney, who has been with Avita Medical since 2012 in
various key executive roles, will now lead a variety
of critical operational and strategic functions. “I’m thrilled to
continue my work with Avita as part of our senior executive
team,” said Tim Rooney, CAO, Avita Medical. “In my new role, I
look forward to continuing my contributions to critical elements in
Avita’s growth, especially as we prepare for the anticipated
approval of ReCell®.”
A premarket approval (PMA) application for the ReCell® device
was filed on September 28, 2017, and is currently under review by
the U.S. Food and Drug Administration (FDA). ReCell® is
a regenerative medicine platform with the potential to
offer patients benefits across a broad range of applications,
including burns, chronic wounds, and aesthetics.
ABOUT AVITA MEDICAL LIMITED
Avita’s patented and proprietary collection and application
technology provides innovative treatment solutions derived from the
regenerative properties of a patient’s own skin. Our medical
devices work by preparing a Regenerative Epithelial Suspension
(RES™), an autologous suspension comprised of the patients’ own
skin cells and wound healing factors that are necessary to
regenerate natural healthy skin. This is then applied to the area
to be treated.
In all countries outside of Europe, our portfolio is marketed
under the ReCell® brand to promote skin healing in a wide range of
applications, including burns, chronic wounds, and aesthetics.
ReCell® is TGA-registered in Australia, and CFDA-cleared in
China. In the United States, ReCell® is an investigational device
limited by federal law to investigational use.
In Europe, our portfolio of medical device products received
CE-mark approval as three tailored product presentations, with
three individual brand names. ReCell® is designed for the treatment
of burns and plastic reconstructive procedures; ReGenerCell™ has
been formulated for chronic wounds, including leg and foot ulcers;
and ReNovaCell™ is tailored for aesthetic applications, including
the restoration of pigmentation.
To learn more, visit www.avitamedical.com.
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
This letter 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 letter 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 letter 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 letter. 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 letter speak only as of the date of this release, and we
undertake no obligation to update or revise any of these
statements.
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AustraliaMonsoon CommunicationsSarah KemterPhone:
+61 (0)3 9620 3333Mobile: +61 (0)407 162
530sarahk@monsoon.com.auorAvita Medical LtdTim RooneyChief
Administrative OfficerPhone: +1 (661)
367-9161trooney@avitamedical.comorUSAINC
Research/inVentiv HealthDeb KazenelsonPhone: +1 (310)
309-1043Deborah.kazenelsondeane@inventivhealth.com
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