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Prescience Point Scores Huge on MiMedx Wager, Going against the short sellers offers led to large gains for Eiad Asbahi? s pay for.
MARIETTA, Ga., May 30, 2019 /PRNewswire/ -- MiMedx Group, Inc. (OTC PINK: MDXG) ("MiMedx" or the "Company"), a market leader in advanced wound health care and an emerging therapeutic biologics business, today announced that the Company's board of directors (the "Board") has adopted a new comprehensive plan to refresh the make up of the Board. The particular plan was created simply by the Board throughout cooperation with among the Company's largest shareholders, Prescience Point Capital Management LLC ("Prescience Point"), and follows the completion regarding the Audit Committee's independent investigation into alleged wrongdoing simply by the prior senior management team in addition to the engagement regarding BDO USA, LLP as the Industry’s new independent authorized public accounting firm.

Within the plan, six new directors, which include MiMedx's new BOSS, Timothy R. Wright, would be added to be able to the Board. While a result, Class II and Category III of the particular Board would be made up entirely of new administrators after the Industry’s 2019 annual conference of shareholders. The refreshment plan involves the appointment of three of Prescience Point's nominees, which include M. Kathleen Behrens Wilsey, Ph. M. as the fresh Chairwoman of the Board, and also E. Todd Newton, who is expected to become the Chairman associated with the Audit Panel after the Provider's 2019 annual meeting of shareholders.

"The MiMedx Board along with the current senior management team have been working tirelessly to address the fallout from the activities of the previous senior management staff and have the Company back on the right track, inch said Charles 3rd there’s r. Evans, Chairman associated with the Board. "Now that we have made substantial improvement on these face, it is period to begin the Board transition plus refreshment process. We are pleased to be able to been employed by collaboratively with Prescience Point to be able to identify through adding new directors who take exceptional experience in addition to track records to MiMedx. Together with the Exam Committee's investigation total and a decide to renew the Board in place, the Firm has become in a position to focus on future plus enhance its enterprise, for the benefit for all stakeholders. inch

"We welcome the great plan to refresh the Board, and even we count on MiMedx's future under brand new leadership. We are pleased that our co-operation has resulted inside a reconstituted Plank, with the addition of six fresh directors with valuable industry experience, human relationships and reputational money, " said Eiad Asbahi, Founder plus Managing Partner involving Prescience Point. "We committed to MiMedx due to the fact we expect the Organization has immense possible as a chief in advanced hurt care and restorative biologics. We think MiMedx is on the path to be able to unlock substantial aktionär value and secure a thriving upcoming for the Company. inches

Beneath the refreshment approach, Prescience Point nominee M. Kathleen Behrens Wilsey, Ph. M. will probably be appointed or even nominated for selection for the Board and is likely to always be named the modern Chairwoman of the Board. Dr. Behrens Wilsey is currently the Chairwoman of Sarepta Therapeutics, Inc. (SRPT), a multi-billion-dollar health care research and medication development company focused on the finding and development associated with unique RNA-targeted therapeutics for the treatment involving rare neuromuscular disorders. Dr. Behrens Wilsey previously served upon the boards regarding Amylin Pharmaceuticals, Incorporation. (formerly AMLN) and even Abgenix, Inc. (formerly ABGX).

In addition to Dr . Behrens Wilsey, the Table will also appoint, or nominate regarding election to the particular Board, Richard L. Barry, James T. Bierman, K. John Newton, Mr. prescience point and another director that will be employed by Company plus Prescience Point. Total biographies of the anticipated new administrators appear at the conclusion of this hit release.

The organization wants to file the preliminary proxy materials for its 2018 Annual Meeting today. The Board promotes shareholders to hold out to receive you can actually proxy materials plus the Company's BLUE proxy server card before voting.

Sidley Austin LLP is acting since legal advisor to be able to MiMedx. Olshan Frome Wolosky LLP is usually acting as legal advisor to Supposition Point.

About Richard J. Barry
Mister. Barry has dished up as an overseer of Elcelyx Therapeutics, Inc., an exclusive pharmaceutical company, given that February 2013 and even has served as being a Managing Member of GSM Fund, LLC, a fund established to the sole goal of purchasing Elcelyx Therapeutics, since Feb 2013. Earlier within his career, having been a founding member of Eastbourne Capital Management LLC, a good sized equity hedge account purchasing a variety of industries, including health and fitness care, and served as the Taking care of General Partner in addition to Portfolio Manager coming from 1999 to the close in 2010. Prior to that, he was a new Portfolio Manager plus Managing Director associated with Robertson Stephens Investment Management, an purchase company, from 95 until 1999. Just before that, Mr. Craig spent over thirteen years in various roles in institutional fairness and investment administration firms, including Lazard Freres, Legg Builder and Merrill Lynch. Mr. Barry has served being an overseer of Sarepta Therapeutics, Inc. (SRPT), a genetic medicine firm, since June 2015, and he has been a Partner and Prediction Board member associated with the San Diego Padres since 2009. Mr. Barry earlier served as an overseer of Cluster Cellular, LLC, an application organization, from 2011 till 2014, and of BlackLight Power, Inc. (n/k/a Brilliant Light Strength, Inc. ), a good energy research firm, from 2009 right up until 2010. Mr. Barry holds a M. A. from Missouri State University.

About M. Kathleen Behrens Wilsey, Ph. M.
Dr. Behrens Wilsey served as a member in the panel of directors involving each of Sarepta Therapeutics, Inc. (SRPT), a multi-billion dollars medical research and even drug development organization targeted on the finding and development regarding unique RNA-targeted therapeutics for the treatment of rare neuromuscular diseases, since March this year (Chairwoman of typically the Board since April 2015) and IGM Biosciences, Inc., a private biotechnology company, given that January 2019. Doctor Behrens Wilsey has worked as an 3rd party life sciences specialist and investor due to the fact December 2009. The girl served as the particular Co-Founder, President, Main Executive Officer and even as a director of the KEW Group Inc., a personal oncology services organization, from January this year until June 2014. Earlier in your ex career, Dr. Behrens Wilsey served being a general partner regarding selected venture money for RS Assets, a mutual finance firm, from 1996 until December yr. While Dr. Behrens Wilsey worked from RS Investments, through 1996 to 2002, she served as being a managing director at the firm and, coming from 2003 to January 2009, she dished up as an expert to the firm. During that time, Dr. Behrens Wilsey likewise served as a part regarding the President's Council of Advisors on Science and Technology (PCAST), from i b?rjan p? tv?tusentalet to 2009 as chairwoman of PCAST's Subcommittee on Individualized Medicine, as well as the Us president, director and chairwoman of the Countrywide Capital raising Association, a great organization that recommends for public plan that supports the American Entrepreneurial environment, from 1993 right up until 2000. Ahead of that will, she served while a general spouse and managing overseer for Robertson Stephens & Co., a great investment company, from 1983 through 1996. Your woman served as some sort of director of Amylin Pharmaceuticals, Inc. (formerly AMLN), a biopharmaceutical company, from 2009 until the company's selling this year to Bristol-Myers Squibb Co. Earlier to that, the girl served for the panel of directors Abgenix, Inc. (formerly ABGX), a biopharmaceutical business, from 2001 right up until the company had been sold to Amgen, Inc. in 2006. From 1997 to 2005, Dr . Behrens was a director of the Plank on Science, Technology and Economic Plan for that National Analysis Council. Dr. Behrens Wilsey was also a Co-Founder of the Coalition intended for 21st Century Remedies, a trade association for brand spanking new generation diagnostics companies. Dr. Behrens Wilsey holds the B. S. in Biology and a new Ph. D. in Microbiology from the University of California, Davis.

About James L. Bierman
Mr. Bierman served as Us president and Chief Executive Officer of Owens & Slight, Inc., a lot of money five-hundred company and a major distributor of health-related and surgical supplies, from September 2014 to June 2015. Previously, he offered in various some other senior roles in Owens & Small, including President in addition to Chief Operating Official from August 2013 to September 2014, Executive Vice President and Chief Functioning Officer from 03 2012 to July 2013, Executive Bassesse President and Primary Financial Officer coming from April 2011 to be able to March 2012, and even Senior Vice President and Chief Financial Officer from Summer 2007 to April 2011. From 2001 to 2004, Mr. Bierman served while Executive Vice Us president and Chief Financial Officer at Quintiles Transnational Corp. Earlier to joining Quintiles Transnational, Mr. Bierman was a lover at Arthur Andersen LLP. Mr. Bierman currently serves upon the board involving directors of Tenet Healthcare Corporation (THC) and previously dished up on the boards of directors associated with Owens & Minimal, Inc. (OMI) and even Team Health Holdings, Inc. (formerly TMH). Mr. Bierman attained his B. A. from Dickinson College or university and his M. B. A. in Cornell University's Meeks Graduate School associated with Management.

About Nited kingdom. Todd Newton
Mr. Newton has, due to the fact 2014, served since Ceo and some sort of member of the particular board of administrators of Apollo Endosurgery, Inc. (APEN), an innovator in the field of gastrointestinal therapeutic endoscopy. From year to 2014, Mister. Newton served while Executive Vice Us president and Chief Financial Officer at ArthroCare Corporation (ARTC), a new medical device company, including from 2013 as Chief Operating Officer. Prior to be able to his leadership at ArthroCare, Mr. Newton served in several business officer roles, like President and Main Executive Officer, at Synenco Energy, Incorporation., a Canadian oil sands company. From 1994 to 2005, Mr. Newton had been a Partner from Deloitte & Touche LLP. Mr. Newton holds a W. B. A. within accounting from your College or university of Texas with San Antonio.

Regarding Timothy R. Wright
Mr. Wright became MiMedx's Chief Executive Officer, powerful as of May well 13, 2019. In the past, Mr. Wright dished up as a Lover at Signal Hill Advisors, LLC, some sort of consulting practice, since February 2011. Mr. Wright served seeing that President and Chief Executive Officer involving M2Gen Corp., the privately held malignancy and health informatics company, between Come july 1st 2017 and The month of september 2018. Prior to M2Gen Corp., Mr. Wright served while Executive Vice President, Mergers and Acquisitions, Approach and Innovation regarding Teva Pharmaceutical Sectors Ltd. ("Teva"), some sort of pharmaceutical company focused in generic medicines, from April 2015 until August 2017. Before Teva, Mr. Wright was typically the founding partner of The Ohio Condition University Comprehensive Malignancy Drug Development Company. Mr. Wright likewise served as Chairman, Interim Chief Executive Officer plus a director associated with Curaxis Pharmaceutical Company ("Curaxis"), a prescription company specializing throughout the development of drugs intended for the remedying of Alzheimer's disease and several cancers, from This summer 2011 to September 2012. Curaxis experienced been experiencing economic difficulties prior in order to Mr. Wright's tenure and, as some sort of result, the firm filed for Part 11 bankruptcy within July 2012. Mister. Wright has recently been a director of Agenus, Inc. (Nasdaq: AGEN), an resistant oncology company, since 2006 and its lead director given that 2009. Mr. Wright also serves seeing that Chairperson with the Kansas State University Comprehensive Cancer Center Medication Development Institute, acts as director of The Ohio State Creativity Foundation and sits down on The Ohio State University University of Pharmacy Dean's Corporate Council. Mr. Wright earned the Bachelor's of Science in Marketing by The Ohio Condition University.

About MiMedx
MiMedx� is a business leader in advanced wound care and even an emerging therapeutic biologics company getting and distributing individuals placental tissue allografts with patent-protected processes for multiple groups of healthcare. The Company processes a persons placental tissue utilizing its proprietary PURION� process methodology, amongst other processes, to create allografts by utilizing aseptic processing approaches in conjunction with airport terminal sterilization. MiMedx features supplied over 1. 5 million allografts to date. For additional information, please pay a visit to www.mimedx.com.

About Supposition Point Capital Management
Prescience Point Money Management is some sort of private investment manager that employs forensic investigative processes to unearth significant mispricings in global markets. That specializes in extensive investigations of difficult-to-analyze public companies in order to uncover significant elements of the business that will have been ignored or ignored by others.

Prescience Level manages private money on behalf involving its clients plus principals and needs positions both very long and short inside of support of it is research. Prescience Point invests across some sort of broad set regarding equities that this believes have unusually large disparities among what their underlying businesses are intrinsically really worth and exactly what their investments cost. The firm was founded by investor Eiad Asbahi in 2009 and is also based in Baton Rouge, LA. Prescience Stage Capital Management is usually a registered expense advisor with the State of Louisiana. Follow @PresciencePoint.

Free from harm Harbor Statement

This particular pr release includes forward-looking statements, including claims regarding the plan associated with MiMedx Group, Incorporation. (the "Company") to be able to refresh the Plank, the consequences of such refreshment on the Company plus expectations with value to Board command. Forward-looking statements might be identified by phrases such as "believe, " "expect, very well "may, " "plan, " "potential, inch "will, " "would" and similar movement and therefore are based in current beliefs in addition to expectations. Forward-looking assertions are be subject to risks and uncertainties, and the Company cautions investors against placing undue reliance on such statements.

Genuine results may differ materially from individuals set forth in the forward-looking statements because a result regarding various factors, like the results involving any election of Class II or even Class III owners. There is little assurance that the Board's nominees will be elected in the Company's 2018 annual meeting of investors (the "2018 Gross annual Meeting") or the Company's 2019 annual meeting of investors. Any forward-looking statements speak only as of the day of this press release, and except while required by rules, the organization assumes little obligation to revise any forward-looking assertion, whether as a new result of brand new information, future activities or perhaps.

Important Information
The Company intends to file some sort of definitive proxy affirmation and associated AZURE proxy card inside connection with the solicitation of unblock proxies for the 2018 Annual Meeting along with the Securities in addition to Exchange Commission (the "SEC"). Details regarding the nominees of the Company's board involving directors for election at the 2018 Annual Meeting is going to be as part of the proxy server statement. BEFORE YOU MAKE ANY KIND OF VOTING DECISION, INVESTORS OF THE COMPANY ARE URGED TO LEARN ALL RELEVANT DOCUMENTS FILED WITH OR PERHAPS FURNISHED TO THE SEC, INCLUDING THE COMPANY'S DEFINITIVE SERWERY PROXY STATEMENT AND ANY SUPPLEMENTS THERETO, DUE TO THE FACT THEY WILL INCLUDE IMPORTANT INFORMATION. Buyers and shareholders is going to be able to get a copy regarding the definitive serwery proxy statement as well as other files filed with the Organization free of fee in the SEC's internet site at www.sec.gov. Typically the Company's shareholders may also be in a position to obtain, with out charge, a duplicate from the definitive proxy statement and some other relevant filed files from the "SEC Filings" section associated with the Company's website in www.mimedx.com.

Participants inside the Application
The Company, its administrators, its director nominees and certain from the executive officers are usually participants in the solicitation of proxies from shareholders inside respect of the particular 2018 Annual Meeting. Information regarding typically the names of the particular Company's directors, director nominees and executive officers and the particular interests in the Company by security loge or otherwise is set forth in the particular Company's Current Record on Form 8-K filed with the particular SEC on, may 25, 2019. Info with regards to the interests of those participants in any kind of proxy solicitation and a description associated with their direct and even indirect interests, simply by security holdings or otherwise, will furthermore be contained in virtually any proxy statement plus other relevant materials to be submitted with the SEC, when and when they will available.
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