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Prescience Point Scores Huge on MiMedx Gamble, Going against the particular short sellers features led to major gains for Eiad Asbahi? s account.
MARIETTA, Georgia., May 30, 2019 /PRNewswire/ -- MiMedx Group, Inc. (OTC PINK: MDXG) ("MiMedx" or the "Company"), a market leader within advanced wound attention and an rising therapeutic biologics firm, today announced that typically the Company's board regarding directors (the "Board") has adopted a new comprehensive plan in order to refresh the formula in the Board. The plan was created simply by the Board inside cooperation with among the Company's largest shareholders, Prescience Point Capital Management LLC ("Prescience Point"), and comes after the completion associated with the Audit Committee's independent investigation straight into alleged wrongdoing simply by the prior mature management team plus the engagement regarding BDO USA, LLP as the Industry’s new independent listed public accounting company.

Underneath the plan, six new directors, which includes MiMedx's new CEO, Timothy R. Wright, can be added to the Board. While a result, Course II and Class III of typically the Board would consist entirely of new directors after the Provider's 2019 annual getting together with of shareholders. The particular refreshment plan involves the appointment of three of Prescience Point's nominees, which includes M. Kathleen Behrens Wilsey, Ph. M. as the brand-new Chairwoman of the Board, along with Ok. Todd Newton, that is expected to be able to become the Chairman involving the Audit Committee after the Provider's 2019 annual conference of shareholders.

"The MiMedx Board as well as the current senior leadership team have been working tirelessly to address the after effects from the actions of the prior senior management staff and get the Organization back on track, very well said Charles 3rd there’s r. Evans, Chairman involving the Board. "Now that we have made substantial development on these face, it is time to begin the particular Board transition plus refreshment process. We are pleased to be able to been employed by collaboratively with Prescience Point in order to identify and add new directors who deliver exceptional experience and track records to MiMedx. With the Taxation Committee's investigation total and an intend to recharge the Board in place, the Company has become in the position to concentrate on its future and enhance its organization, for the good thing about all stakeholders. inches

"We welcome the great plan to refresh the Board, plus we count on MiMedx's future under brand new leadership. We are pleased that our assistance has resulted within a reconstituted Board, with the help of six fresh directors with handy industry experience, associations and reputational funds, " said Eiad Asbahi, Founder in addition to Managing Partner involving Prescience Point. "We committed to MiMedx since we feel the Company has immense possible as a head in advanced hurt care and therapeutic biologics. We think MiMedx is about the path in order to unlock substantial aktionär value and risk-free a thriving future for the Company. inches

Within the refreshment approach, Prescience Point nominee M. Kathleen Behrens Wilsey, Ph. Deb. will be appointed or perhaps nominated for political election towards the Board in addition to is supposed to always be named the new Chairwoman of the Plank. Dr. Behrens Wilsey is currently the Chairwoman of Sarepta Therapeutics, Inc. (SRPT), a multi-billion-dollar health care research and medication development company centered on the finding and development regarding unique RNA-targeted therapeutics for your treatment regarding rare neuromuscular disorders. Dr. Behrens Wilsey previously served about the boards regarding Amylin Pharmaceuticals, Inc. (formerly AMLN) and Abgenix, Inc. (formerly ABGX).

In add-on to Dr . Behrens Wilsey, the Table will also have, or nominate regarding election to the Board, Richard T. Barry, James L. Bierman, K. John Newton, Mr. Wright and another director who will be recruited with the Company and even Prescience Point. Full biographies of the particular anticipated new administrators appear at the conclusion of this hit release.

The business wants to file its preliminary proxy supplies for its 2018 Annual Meeting right now. The Board promotes shareholders to hang on to receive you’re able to send proxy materials plus the Company's BLUE proxy card before voting.

Sidley Austin LLP is acting because legal advisor in order to MiMedx. Olshan Frome Wolosky LLP is certainly acting as lawful advisor to Supposition Point.

About Rich J. Barry
Mr. Barry has dished up as a movie director of Elcelyx Therapeutics, Inc., a private pharmaceutical company, given that February 2013 in addition to has served as a Managing Member involving GSM Fund, LLC, a fund established for your sole objective of buying Elcelyx Therapeutics, since February 2013. Earlier throughout his career, having been a founding person in Eastbourne Capital Administration LLC, a large equity hedge fund buying a variety regarding industries, including wellness care, and offered as the Handling General Partner and even Portfolio Manager by 1999 to it is close in the year of 2010. Prior to of which, he was a Portfolio Manager plus Managing Director involving Robertson Stephens Investment decision Management, an purchase company, from 1995 until 1999. Just before that, Mr. Craig spent over 13 years in several jobs in institutional equity and investment management firms, including Lazard Freres, Legg Builder and Merrill Lynch. Mr. Barry provides served like a director of Sarepta Therapeutics, Inc. (SRPT), some sort of genetic medicine organization, since June 2015, and he has been a Partner and Prediction Board member involving the San Diego Padres since year. Mr. Barry previously served like an overseer of Cluster Cellular, LLC, a software organization, from 2011 until 2014, and of BlackLight Power, Inc. (n/k/a Brilliant Light Strength, Inc. ), a great energy research firm, from 2009 right up until 2010. Mr. Craig holds a N. A. from Philadelphia State University.

Regarding M. Kathleen Behrens Wilsey, Ph. M.
Dr. Behrens Wilsey served as the member of the panel of directors regarding each of Sarepta Therapeutics, Inc. (SRPT), a multi-billion buck medical research in addition to drug development company focused on the discovery and development of unique RNA-targeted therapeutics for the take care of rare neuromuscular conditions, since March year (Chairwoman of the particular Board since The spring 2015) and IGM Biosciences, Inc., a privately held biotechnology company, due to the fact January 2019. Dr . Behrens Wilsey has worked as an independent life sciences specialist and investor given that December 2009. Your woman served as the particular Co-Founder, President, Key Executive Officer and as an overseer 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 like a general partner for selected venture finances for RS Assets, a mutual account firm, from 1996 until December this year. While Dr. Behrens Wilsey worked in RS Investments, by 1996 to 2002, she served like a managing director at the firm and, coming from 2003 to Dec 2009, she served as a specialist for the firm. Throughout that time, Dr. Behrens Wilsey furthermore served as a part of the President's Authorities of Advisors upon Science and Technology (PCAST), from 2001 to 2009 as chairwoman of PCAST's Subcommittee on Personalized Medicine, as nicely as the Us president, director and chairwoman of the Countrywide Investment capital Association, an organization that advocates for public policy that supports the American Entrepreneurial ecosystem, from 1993 till 2000. Ahead of of which, she served while a general partner and managing representative for Robertson Stephens & Co., an investment company, from 1983 through 1996. Your woman served as some sort of director of Amylin Pharmaceuticals, Inc. (formerly AMLN), a biopharmaceutical company, from year till the company's great deals this year to Bristol-Myers Squibb Co. Prior to that, the girl served around the plank of directors Abgenix, Inc. (formerly ABGX), a biopharmaceutical organization, from 2001 till the company was sold to Amgen, Inc. in 2006. From 1997 in order to 2005, Doctor Behrens was an overseer of the Board on Science, Technology and Economic Plan for your National Exploration Council. Dr. Behrens Wilsey was also a Co-Founder of the Coalition with regard to 21st Century Remedies, a trade connection for brand spanking new generation analysis companies. Dr. Behrens Wilsey holds a new B. S. inside Biology and some sort of Ph. D. inside Microbiology from the College of California, Davis.

About James D. Bierman
Mr. Bierman served as Us president and Ceo of Owens & Small, Inc., a Fortune 500 company along with a leading distributor of medical and surgical products, from September 2014 to June 2015. Previously, he offered in various some other senior roles from Owens & Minor, including President and even Chief Operating Official from August 2013 to September 2014, Executive Vice Chief executive and Chief Working Officer from Mar 2012 to September 2013, Executive Perversité President and Primary Financial Officer coming from April 2011 in order to March 2012, plus Senior Vice President and Chief Economic Officer from June 2007 to 04 2011. From i b?rjan p? tv?tusentalet to 2004, Mr. Bierman served like Executive Vice President and Chief Economic Officer at Quintiles Transnational Corp. Before to joining Quintiles Transnational, Mr. Bierman was a companion at Arthur Andersen LLP. Mr. Bierman currently serves in the board associated with directors of Tenet Healthcare Corporation (THC) and previously offered on the planks of directors associated with Owens & Small, Inc. (OMI) and even Team Health Loge, Inc. (formerly TMH). Mr. Bierman attained his B. A. from Dickinson College or university and his M. B. A. with Cornell University's Nicholson Graduate School involving Management.

About K. Todd Newton
Mr. Newton has, since 2014, served since Chief Executive Officer and a member of typically the board of directors of Apollo Endosurgery, Inc. (APEN), an innovator in the field of gastrointestinal beneficial endoscopy. From this year to 2014, Mister. Newton served like Executive Vice Chief executive and Chief Economical Officer at ArthroCare Corporation (ARTC), the medical device organization, including from 2013 as Chief Functioning Officer. Prior to be able to his leadership from ArthroCare, Mr. Newton served in many professional officer roles, including President and Primary Executive Officer, from Synenco Energy, Incorporation., a Canadian oil sands company. By 1994 to 2005, Mr. Newton seemed to be a Partner with Deloitte & Patte LLP. Mr. Newton holds a W. B. A. inside accounting from your University of Texas from San Antonio.

Regarding Timothy R. Wright
Mr. Wright became MiMedx's Ceo, efficient as of May well 13, 2019. Previously, Mr. Wright dished up as a Spouse at Signal Mountain Advisors, LLC, a consulting practice, due to the fact February 2011. Mister. Wright served like President and Main Executive Officer involving M2Gen Corp., a new privately held tumor and health informatics company, between Come july 1st 2017 and September 2018. Prior to M2Gen Corp., Mr. Wright served while Executive Vice President, Mergers and Acquisitions, Technique and Innovation with regard to Teva Pharmaceutical Industrial sectors Ltd. ("Teva"), the pharmaceutical company focused in generic medications, from April 2015 until August 2017. Before Teva, Mr. Wright was typically the founding partner associated with The Ohio State University Comprehensive Cancer Drug Development Start. Mr. Wright in addition served as Chief, Interim Ceo and even a director associated with Curaxis Pharmaceutical Organization ("Curaxis"), a prescription company specializing within the introduction of drugs for the remedying of Alzheimer's disease and several cancers, from Come july 1st 2011 to July 2012. Curaxis had been experiencing financial difficulties prior to be able to Mr. Wright's tenure and, as some sort of result, the business filed for Part 11 bankruptcy inside July 2012. Mister. Wright has been a director involving Agenus, Inc. (Nasdaq: AGEN), an resistant oncology company, considering that 2006 and it is lead director given that 2009. Mr. Wright also serves seeing that Chairperson with the Kentkucky State University Broad Cancer Center Medicine Development Institute, serves as director with the Ohio State Creativity Foundation and rests on The Kansas State University College or university of Pharmacy Dean's Corporate Council. Mister. Wright earned a new Bachelor's of Science in Marketing from The Ohio Condition University.

About MiMedx
MiMedx� is definitely a sector leader in enhanced wound care in addition to an emerging therapeutic biologics company acquiring and distributing human being placental tissue allografts with patent-protected processes for multiple industries of healthcare. The particular Company processes your placental tissue employing its proprietary PURION� process methodology, between other processes, to produce allografts by utilizing aseptic processing strategies in conjunction with fatal sterilization. eiad asbahi prescience point has supplied over just one. 5 million allografts to date. For more information, please go to www.mimedx.com.

About Prescience Point Capital Supervision
Prescience Point Funds Management is some sort of private investment office manager that employs forensic investigative ways to discover significant mispricings inside global markets. That specializes in extensive investigations of difficult-to-analyze public companies as a way to uncover significant elements of the business that have been overlooked or ignored by simply others.

Prescience Level manages private cash on behalf associated with its clients and even principals and takes positions both lengthy and short inside of support of their research. Prescience Point invests across a new broad set regarding equities that it believes have extraordinarily large disparities in between what their actual companies are intrinsically worth and exactly what their investments sell for. The firm started by investor Eiad Asbahi in 2009 and it is based in Baton Rouge, LA. Prescience Stage Capital Management is usually a registered purchase advisor with the State of Louisiana. Follow @PresciencePoint.

Safe and sound Harbor Statement

This press release includes forward-looking statements, including claims regarding the plan associated with MiMedx Group, Inc. (the "Company") to refresh the Board, the effects of such refreshment for the Company and expectations with respect to Board command. Forward-looking statements could possibly be identified by phrases such as "believe, " "expect, very well "may, " "plan, " "potential, " "will, " "would" and similar movement and they are based on current beliefs and even expectations. Forward-looking claims are controlled by dangers and uncertainties, and even the Company engagement investors against placing undue reliance on the subject of such statements.

Real results may fluctuate materially from individuals established in typically the forward-looking statements since a result involving various factors, like the results involving any election involving Class II or perhaps Class III administrators. There is no assurance that the Board's nominees will be elected with the Company's 2018 annual meeting of investors (the "2018 Gross annual Meeting") or the particular Company's 2019 annual meeting of investors. Any forward-looking claims speak only because of the particular date of this report, and except while required by regulation, the business assumes little obligation to upgrade any forward-looking assertion, whether as a new result of brand new information, future activities or perhaps.

Important Details
The Company intends to file the definitive proxy assertion and associated AZURE proxy card found in connection with the particular solicitation of unblock proxies for the 2018 Annual Meeting with the Securities plus Exchange Commission (the "SEC"). Details with regards to the nominees from the Company's board involving directors for political election at the 2018 Annual Meeting is going to be within the serwery proxy statement. BEFORE MAKING ANY KIND OF VOTING DECISION, INVESTORS OF THE FIRM ARE URGED TO STUDY ALL RELEVANT DOCUMENTS FILED WITH OR FURNISHED TO TYPICALLY THE SEC, INCLUDING THE PARTICULAR COMPANY'S DEFINITIVE PROXY STATEMENT AND ANY SUPPLEMENTS THERETO, DUE TO THE FACT THEY WILL CONSIST OF IMPORTANT INFORMATION. Investors and shareholders will be able to get yourself a copy of the definitive web proxy statement as well as other files filed by the Company free of charge from the SEC's web site at www.sec.gov. The Company's shareholders will also be able to obtain, with no charge, a backup of the definitive proxy server statement and other relevant filed papers from the "SEC Filings" section of you can actually website from www.mimedx.com.

Participants throughout the Solicitation
The particular Company, its owners, its director candidates and certain from the executive officers will be participants in the solicitation of proxies from shareholders inside respect of the particular 2018 Annual Meeting. Information regarding typically the names of the Company's directors, director nominees and business officers and the particular interests inside the Company by security coopération or otherwise is placed forth in the particular Company's Current Report on Form 8-K filed with the SEC on May thirty, 2019. Info with regards to the interests of those participants in virtually any proxy solicitation in addition to a description regarding their direct in addition to indirect interests, by security holdings or even otherwise, will furthermore be included in virtually any proxy statement and even other relevant compounds to be recorded with the SEC, if and when they available.
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