This post first appeared on Micro Cap Daily
MiMedx Group Inc (OTCMKTS: MDXG) has been on the rise in recent days continuing on strong since a recent dip. MDXG is an ex NASDAQ listed Company that hit the OTCBB on November 8 of last year.
On May 9 MDXG announced its Board of Directors has appointed Timothy R. Wright as Chief Executive Officer, effective May 13, 2019. Mr. Wright succeeds David Coles, who has served as Interim Chief Executive Officer since July 2018. Mr. Wright is a proven executive and healthcare industry veteran with more than 30 years of experience in the pharmaceutical, biotech and medical devices industries. He brings to MiMedx a track record of results-oriented leadership and business growth.
Charles R. Evans, Chairman of the MiMedx Board of Directors, stated, “Tim has been instrumental in building, transforming and strategically positioning organizations, driving them for growth and profitability across many diverse and highly competitive markets. He has extensive experience in identifying and capturing market opportunities; mobilizing multidisciplinary teams to achieve improved financial results; driving products from conception through commercialization; securing regulatory and reimbursement approvals; and negotiating complex transactions, partnerships and ventures that propel organizational growth and market share expansion. MiMedx conducted an extensive CEO search process with the assistance of an executive search firm, through which the Board interviewed a number of highly qualified candidates. I am confident Tim is the right person to lead MiMedx forward on a trajectory of ethical and sustained growth.”
MiMedx® is a leading biopharmaceutical company developing and marketing regenerative and therapeutic biologics utilizing human placental tissue allografts with patent-protected processes for multiple sectors of healthcare. The Company processes the human placental tissue utilizing its proprietary PURION® process methodology, among other processes, to produce allografts by employing aseptic processing techniques in addition to terminal sterilization. MiMedx has supplied over 1.3 million allografts to date.
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MiMedx Group is a leading supplier of allografts processed from amniotic tissue, having supplied over 700,000 allografts to date for application in Wound Care, Burns, Surgery, Orthopedics, Spine, Sports Medicine, Ophthalmology and Dentistry. Ther amniotic membrane products include the brands, AmnioFix and EpiFix, as well as products that they supply on a private label or “OEM” basis. The Company continues to research new opportunities for amniotic tissue, and currently have several additional offerings in various stages of conceptualization and development.
According to Chairman Charles Evans “Innovations in Regenerative Biomaterials” is the framework behind our mission to give physicians products and tissues to help the body heal itself. Our biomaterial platform technologies include the device technologies HydroFix® and CollaFix, and tissue technologies, AmnioFix® and EpiFix®. Our tissue technologies are processed from human amniotic membrane that is derived from the donated placentas. Through our donor program, mothers delivering full-term Caesarian births can elect in advance of delivery to donate the placenta in lieu of having it discarded as medical waste. We process the human amniotic membrane utilizing our proprietary PURION® Process to produce a safe, effective and minimally manipulated implant for homologous use. MiMedx® is the leading supplier of amniotic tissue, having supplied over 100,000 implants to date to distributors and OEMs for applications in the Ophthalmic, Orthopedic, Spine, Wound Care, and Dental sectors of healthcare. Our platform technologies, AmnioFix®, EpiFix®, HydroFix® and CollaFix, have such a vast number of potential applications in treating traumatized tissue and structures that it is difficult to accurately quantify. MiMedx Group is focused on commercializing multiple applications of all four technologies. In parallel, we are seeking strategic relationships to more rapidly commercialize our technologies.
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Currently trading at a $227 million market valuation MDXG hit the OTCBB at the end of last year after being suspended by NASDAQ stock market. This is an exciting Company and a leading developer and marketer of regenerative and therapeutic biologics. These ex big boards have a long history of making big moves once on the OTCBB and MDXG is no exception rising over 70% in the last 10 days. We will be updating on MDXG when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MDXG.
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Disclosure: we hold no position in MDXG either long or short and we have not been compensated for this article.
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This post first appeared on Micro Cap Daily