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Supposition Point Scores Big on MiMedx Gamble, Going against the particular short sellers offers led to large gains for Eiad Asbahi? s finance.
MARIETTA, Ga., May 30, 2019 /PRNewswire/ -- MiMedx Group, Inc. (OTC PINK: MDXG) ("MiMedx" or the "Company"), an industry leader within advanced wound care and an emerging therapeutic biologics company, announced recently that typically the Company's board involving directors (the "Board") has adopted some sort of comprehensive plan in order to refresh the composition with the Board. The plan was created simply by the Board in cooperation with among the Company's largest investors, Prescience Point Funds Management LLC ("Prescience Point"), and employs the completion involving the Audit Committee's independent investigation straight into alleged wrongdoing by the prior senior management team and the engagement of BDO USA, LLP as the Company's new independent authorized public accounting company.

Within the plan, half a dozen new directors, including MiMedx's new CEO, Timothy R. Wright, would be added in order to the Board. Since a result, Class II and Category III of the Board would consist entirely of new owners after the Provider's 2019 annual meeting of shareholders. Typically the refreshment plan consists of the appointment of three of Prescience Point's nominees, which include M. Kathleen Behrens Wilsey, Ph. D. as the new Chairwoman of the Board, in addition to Ok. Todd Newton, who else is expected to be able to end up being the Chairman involving the Audit Committee after the Provider's 2019 annual conference of shareholders.

"The MiMedx Board plus the current senior management team have recently been working tirelessly to address the results from the activities of the earlier senior management crew and acquire the Organization back to normal, very well said Charles R. Evans, Chairman involving the Board. "Now that we have got made substantial development on these face, it is moment to begin the Board transition in addition to refreshment process. eiad asbahi of us are pleased to have worked collaboratively using Prescience Point to be able to identify through adding brand-new directors who deliver exceptional experience in addition to track records to MiMedx. Together with the Exam Committee's investigation full and an intend to recharge the Board inside place, the Business has become in a position to concentrate on future and even enhance its company, for the benefit for all stakeholders. inches

"We welcome the great plan to invigorate the Board, and we look ahead to MiMedx's future under fresh leadership. Our company is delighted that our cooperation has resulted in a reconstituted Board, with the addition of six new directors with valuable industry experience, relationships and reputational capital, " said Eiad Asbahi, Founder and even Managing Partner regarding Prescience Point. "We committed to MiMedx due to the fact we believe the Organization has immense prospective as a leader in advanced twisted care and therapeutic biologics. We think MiMedx is in the path to unlock substantial aktionär value and secure a thriving long term for your Company. very well

Beneath the refreshment strategy, Prescience Point nominee M. Kathleen Behrens Wilsey, Ph. G. will probably be appointed or nominated for selection towards the Board and is supposed to become named the newest Chairwoman of the Table. Dr. Behrens Wilsey is currently typically the Chairwoman of Sarepta Therapeutics, Inc. (SRPT), a multi-billion-dollar medical research and medication development company focused on the discovery and development regarding unique RNA-targeted therapeutics to the treatment associated with rare neuromuscular disorders. Dr. Behrens Wilsey previously served upon the boards involving Amylin Pharmaceuticals, Inc. (formerly AMLN) and even Abgenix, Inc. (formerly ABGX).

In inclusion to Dr . Behrens Wilsey, the Board will also find, or nominate for election to the Board, Richard J. Barry, James T. Bierman, K. Jake Newton, Mr. Wright and another overseer that will be recruited by the Company in addition to Prescience Point. Complete biographies of typically the anticipated new directors appear at the finish of this push release.

The business expects to file it is preliminary proxy supplies for its 2018 Annual Meeting right now. The Board encourages shareholders to wait around to receive the Company's proxy materials along with 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 definitely acting as legal advisor to Prescience Point.

About Richard J. Barry
Mr. Barry has offered as a movie director of Elcelyx Therapeutics, Inc., a non-public pharmaceutical company, given that February 2013 and has served like a Managing Member involving GSM Fund, LLC, a fund established to the sole goal of investing in Elcelyx Therapeutics, since February 2013. Earlier in his career, having been a founding member of Eastbourne Capital Supervision LLC, a major equity hedge pay for purchasing a variety involving industries, including health and fitness care, and dished up as the Taking care of General Partner plus Portfolio Manager coming from 1999 to its close in the year of 2010. Prior to that will, he was some sort of Portfolio Manager and even Managing Director regarding Robertson Stephens Investment Management, an investment company, from 1995 until 1999. Prior to that, Mr. Barry spent over tough luck years in several tasks in institutional collateral and investment administration firms, including Lazard Freres, Legg Mason and Merrill Lynch. Mr. Barry offers served as being a movie director of Sarepta Therapeutics, Inc. (SRPT), a new genetic medicine organization, since June 2015, and he has been a Partner and Admonitory Board member involving the San Diego Padres since yr. Mr. Barry previously served like an overseer of Cluster Wifi, LLC, an application firm, from 2011 till 2014, along with BlackLight Power, Inc. (n/k/a Brilliant Light Energy, Inc. ), the energy research company, from 2009 till 2010. Mr. Barry holds a B. A. from Pa State University.

Concerning M. Kathleen Behrens Wilsey, Ph. D.
Dr. Behrens Wilsey served as some sort of member in the plank of directors of each of Sarepta Therapeutics, Inc. (SRPT), a multi-billion dollar medical research in addition to drug development company focused on the finding and development regarding unique RNA-targeted therapeutics for the remedying of rare neuromuscular diseases, since March 2009 (Chairwoman of the Board since 04 2015) and IGM Biosciences, Inc., a privately held biotechnology company, since January 2019. Doctor Behrens Wilsey did as an independent life sciences consultant and investor considering that December 2009. The lady served as the particular Co-Founder, President, Chief Executive Officer and as a director of the KEW Group Inc., a private oncology services organization, from January the summer season until June 2014. Earlier in your ex career, Dr. Behrens Wilsey served being a general partner for selected venture money for RS Investments, a mutual pay for firm, from 1996 until December 2009. While Dr. Behrens Wilsey worked with RS Investments, through 1996 to 2002, she served like a managing director at the firm and, from 2003 to December 2009, she served as an advisor towards the firm. In the course of that time, Doctor. Behrens Wilsey likewise served as a part involving the President's Authorities of Advisors in Science and Technological innovation (PCAST), from i b?rjan p? tv?tusentalet to 2009 and since chairwoman of PCAST's Subcommittee on Customized Medicine, as effectively as the Chief executive, director and chairwoman of the National Investment capital Association, a great organization that supporters for public insurance plan that supports the particular American Entrepreneurial ecosystem, from 1993 till 2000. Prior to that, she served because a general companion and managing director for Robertson Stephens & Co., an investment company, from 1983 through 1996. The lady served as some sort of director of Amylin Pharmaceuticals, Inc. (formerly AMLN), a biopharmaceutical company, from 2009 before the company's great deals this year to Bristol-Myers Squibb Co. Earlier to that, your woman served for the board of directors Abgenix, Inc. (formerly ABGX), a biopharmaceutical business, from 2001 until the company had been sold to Amgen, Inc. in 2006. From 1997 in order to 2005, Dr . Behrens was a representative of the Plank on Science, Technologies and Economic Insurance plan for that National Study Council. Dr. Behrens Wilsey was furthermore a Co-Founder regarding the Coalition with regard to 21st Century Remedies, a trade association for new generation analysis companies. Dr. Behrens Wilsey holds the B. S. within Biology and the Ph. D. in Microbiology from the University of California, Davis.

About James L. Bierman
Mr. Bierman served as Leader and Chief Executive Officer associated with Owens & Small, Inc., a lot of money five-hundred company along with a primary distributor of health-related and surgical materials, from September 2014 to June 2015. Previously, he served in various additional senior roles at Owens & Slight, including President and Chief Operating Officer from August 2013 to September 2014, Executive Vice Us president and Chief Working Officer from March 2012 to September 2013, Executive Perversité President and Chief Financial Officer through April 2011 in order to March 2012, and Senior Vice Leader and Chief Financial Officer from Summer 2007 to Apr 2011. From 2001 to 2004, Mister. Bierman served like Executive Vice Us president and Chief Economical Officer at Quintiles Transnational Corp. Before to joining Quintiles Transnational, Mr. Bierman was a spouse at Arthur Andersen LLP. Mr. Bierman currently serves on the board involving directors of Tenet Healthcare Corporation (THC) and previously offered on the panels of directors associated with Owens & Minimal, Inc. (OMI) and even Team Health Coopération, Inc. (formerly TMH). Mr. Bierman gained his B. A new. from Dickinson College or university and his Meters. B. A. from Cornell University's Johnson Graduate School involving Management.

About Nited kingdom. Todd Newton
Mr. Newton has, considering that 2014, served since Chief Executive Officer and a new member of the particular board of administrators of Apollo Endosurgery, Inc. (APEN), a leader in the field of gastrointestinal restorative endoscopy. From year to 2014, Mr. Newton served like Executive Vice Us president and Chief Economic Officer at ArthroCare Corporation (ARTC), a new medical device firm, including from 2013 as Chief Running Officer. Prior to be able to his leadership with ArthroCare, Mr. Newton served in a number of exec officer roles, which include President and Main Executive Officer, from Synenco Energy, Inc., a Canadian oil sands company. From 1994 to 2005, Mr. Newton has been a Partner from Deloitte & Touche LLP. Mr. Newton holds a M. B. A. within accounting in the University of Texas with San Antonio.

About Timothy R. Wright
Mr. Wright grew to become MiMedx's Ceo, powerful as of May possibly 13, 2019. Earlier, Mr. Wright offered as a Lover at Signal Hill Advisors, LLC, a consulting practice, considering that February 2011. Mr. Wright served while President and Key Executive Officer associated with M2Gen Corp., the privately held tumor and health informatics company, between Come july 1st 2017 and Sept 2018. Prior to be able to M2Gen Corp., Mister. Wright served seeing that Executive Vp, Mergers and Acquisitions, Technique and Innovation with regard to Teva Pharmaceutical Sectors Ltd. ("Teva"), a pharmaceutical company expert in generic drugs, from April 2015 until August 2017. Before Teva, Mister. Wright was typically the founding partner involving The Ohio Express University Comprehensive Cancer Drug Development Institute. Mr. Wright in addition served as Chief, Interim Chief Executive Officer in addition to a director of Curaxis Pharmaceutical Organization ("Curaxis"), a pharmaceutic company specializing in the introduction of drugs intended for the remedying of Alzheimer's disease and several cancers, from July 2011 to September 2012. Curaxis experienced been experiencing economical difficulties prior in order to Mr. Wright's tenure and, as a result, the business filed for Chapter 11 bankruptcy within July 2012. Mr. Wright has been a director associated with Agenus, Inc. (Nasdaq: AGEN), an resistant oncology company, considering that 2006 and the lead director since 2009. Mr. Wright also serves while Chairperson from the Kentkucky State University In depth Cancer Center Medication Development Institute, serves as director in the Ohio State Development Foundation and is located on The Iowa State University School of Pharmacy Dean's Corporate Council. Mister. Wright earned a Bachelor's of Science in Marketing by The Ohio Condition University.

About MiMedx
MiMedx� is surely a market leader in sophisticated wound care and even an emerging restorative biologics company getting and distributing human being placental tissue allografts with patent-protected operations for multiple sectors of healthcare. The particular Company processes the human placental tissue using its proprietary PURION� process methodology, among other processes, to produce allografts by using aseptic processing methods in addition to terminal sterilization. MiMedx has supplied over one. 5 million allografts to date. For more information, please pay a visit to www.mimedx.com.

About Prescience Point Capital Supervision
Prescience Point Money Management is the private investment supervisor that employs forensic investigative methods to unearth significant mispricings on global markets. It specializes in considerable investigations of difficult-to-analyze public companies to be able to uncover significant components of the business that have been overlooked or ignored by simply others.

Prescience Point manages private money on behalf regarding its clients and principals and needs positions both very long and short inside of support of their research. Prescience Level invests across a broad set of equities that it believes have extraordinarily large disparities involving what their fundamental web based intrinsically worth and what their investments sell for. The determined begun by trader Eiad Asbahi within 2009 and is also headquartered in Baton Rouge, LA. Prescience Level Capital Management is a registered purchase advisor with the State of Louisiana. Follow @PresciencePoint.

Free from harm Harbor Statement

This kind of pr release includes forward-looking statements, including claims about the plan involving MiMedx Group, Inc. (the "Company") in order to refresh the Board, the consequences of such refreshment on the Company plus expectations with regard to Board management. Forward-looking statements may be identified by words such as "believe, " "expect, very well "may, " "plan, " "potential, " "will, " "would" and similar expression and therefore are based about current beliefs and even expectations. Forward-looking claims are be subject to hazards and uncertainties, plus the Company cautions investors against inserting undue reliance on the subject of such statements.

Genuine results may fluctuate materially from these established in typically the forward-looking statements since a result regarding various factors, including the results involving any election regarding Class II or even Class III owners. There is little assurance that the Board's nominees is going to be elected with the Company's 2018 gross annual meeting of investors (the "2018 Yearly Meeting") or the Company's 2019 gross annual meeting of shareholders. Any forward-looking transactions speak only as of the time of this pr release, and except as required by regulation, the organization assumes zero obligation to upgrade any forward-looking declaration, whether as a new result of new information, future events or.

Important Info
The Company intends to file a new definitive proxy statement and associated BLUE proxy card inside connection with the solicitation of unblock proxies for the 2018 Annual Meeting using the Securities and even Exchange Commission (the "SEC"). Details regarding the nominees with the Company's board associated with directors for election at the 2018 Annual Meeting is going to be included in the serwery proxy statement. BEFORE MAKING VIRTUALLY ANY VOTING DECISION, INVESTORS OF THE FIRM ARE URGED TO LEARN ALL RELEVANT FILES FILED WITH OR EVEN FURNISHED TO TYPICALLY THE SEC, INCLUDING THE COMPANY'S DEFINITIVE SERWERY PROXY STATEMENT AND ANY KIND OF SUPPLEMENTS THERETO, SINCE THEY WILL CONTAIN IMPORTANT INFORMATION. Traders and shareholders can be able to be able to obtain a copy involving the definitive proxy server statement and other files filed by Firm free of charge from your SEC's website at www.sec.gov. The Company's shareholders may also be in a position to obtain, with no charge, a copy from the definitive proxy server statement and various other relevant filed documents from the "SEC Filings" section regarding the Company's website in www.mimedx.com.

Participants in the Application
Typically the Company, its owners, its director candidates and certain from the executive officers are usually participants in the solicitation of unblock proxies from shareholders within respect of typically the 2018 Annual Getting together with. Information regarding the particular names of typically the Company's directors, movie director nominees and exec officers and their individual interests in the Business by security loge or otherwise is defined forth in the particular Company's Current Review on Form 8-K filed with the particular SEC on, may 30, 2019. Details regarding the interests of such participants in virtually any proxy solicitation in addition to a description involving their direct plus indirect interests, by security holdings or perhaps otherwise, will likewise be contained in virtually any proxy statement plus other relevant compounds to be filed together with the SEC, when and when they will provided.
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