Organogenesis chairman resigns
CANTON, Mass.--(BW HealthWire)--Jan. 4, 2002--Organogenesis Inc. (AMEX:ORG - news) today announced that it has initiated a search for a new Chairman of the Board. Albert Erani resigned as Chairman, effective January 1, 2002, in order to have more time to pursue personal business interests. Mr. Erani will continue to serve as a member of the Organogenesis Board of Directors.
``I would like to thank Albert for his dedication to Organogenesis over the last few years,'' said Michael Sabolinski, M.D., President and Chief Executive Officer. ``We are glad that he will continue to support the Company as a member of the Board of Directors.''
Organogenesis Inc. (www.organogenesis.com) is the first tissue-engineering company to have developed and gained FDA approval for a mass-produced product containing living human cells. The Company's lead product, Apligraf® (Graftskin) - a cellular, bi-layered skin substitute - is FDA approved for the treatment of venous leg ulcers and diabetic foot ulcers; Novartis Pharma AG has global Apligraf marketing rights. The Company's second marketed product - FortaPerm(TM) - has been launched by the Company's own sales and marketing team. Additional products nearing commercialization include: FortaGen(TM) bioengineered tissue repair product, PuraPly(TM) wound dressing and Revitix(TM) Regenerative Skin Complex. The Company's research pipeline includes the Vitrix(TM) living dermal replacement product, a coronary vascular graft and a liver assist device.
This release contains forward-looking statements that are subject to risks and uncertainties, including statements about recent and expected product launches. Actual results may differ materially from those indicated or suggested by these forward-looking statements as a result of various factors, including, but not limited to: our expectation that we will incur operating losses in the near future; our ability to raise additional funds on acceptable terms, if at all; our reliance on Novartis for marketing of Apligraf and product development funding support; the actions of competitors and the development of competing products; uncertainties related to preclinical and clinical testing and trials; difficulties or delays in obtaining regulatory approvals to market products resulting from our development efforts; our ability to successfully transition to full-scale production of Apligraf; our ability to protect our patents and proprietary rights; patent infringement actions; our ability to commercialize some of our products without a marketing partner; and the requirement for substantial funding to conduct research and development and to expand commercialization activities. For a further list and description of uncertainties we face, please refer to our filings with the Securities and Exchange Commission, including our most recent filings on Forms 10-K and 10-Q. We disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Apligraf is a registered trademark of Novartis.
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Contact:
Organogenesis Inc.
Laurie Doyle
Senior Manager, Corporate Communications
781-575-0775 |
