SALT LAKE CITY, Sept. 4, 2019 /PRNewswire/ -- PolarityTE, Inc. (Nasdaq: PTE), a biotechnology company developing and commercializing regenerative tissue products and biomaterials, today announced the appointment of Peter Cohen, previously Lead Director, as Chairman of the Board.
Mr. Cohen, a PolarityTE Board member since July 2018, brings more than five decades of operating and governance experience to his role as Chairman. He previously served on numerous domestic and foreign boards, including the Board of Directors at the NYSE. Mr. Cohen founded the investment firm Ramius Capital and was the CEO and Chairman of the Board of Cowen Inc., one of the foremost healthcare and biotech-focused investment banks. Mr. Cohen was also Chairman of Shearson Lehman Hutton Inc. and Republic New York Securities, in addition to serving on the Board of Mount Sinai Medical Center for approximately 30 years.
"It gives me great satisfaction to lead the Board during this important time at PolarityTE. I am proud to be part of a company with such an innovative technology, which not only addresses an unmet medical need, but has the potential to become a mainstay treatment in the field of skin and tissue regeneration," said Mr. Cohen. "There have been growing pains and unexpected challenges in the development of PolarityTE, which can occur with innovative companies, especially those that have the potential to disrupt the biotechnology industry. I am pleased with the strides we have made to address these growing pains and challenges, and believe we have the right, disciplined approach to best position the business for growth. Looking ahead, while we are committed to our pipeline, SkinTE commercialization will continue to be our priority. Our efforts to drive market awareness and adoption will be bolstered by our continuing focus on building and disseminating scientific and clinical evidence for SkinTE. With this approach, and the steadfast, committed leadership of the Company's Office of the Chief Executive and its Board of Directors, I believe PolarityTE is well-positioned to deliver value in the short- and long-term. Furthermore, the Company's remarkable employees and their commitment to customers give me confidence that PolarityTE will deliver on its mission to improve the lives of patients."
PolarityTE is focused on transforming the lives of patients by discovering, designing and developing a range of regenerative tissue products and biomaterials for the fields of medicine, biomedical engineering and material sciences. Rather than manufacturing with synthetic and foreign materials within artificially engineered environments, PolarityTE manufactures products from the patient's own tissue and uses the patient's own body to support the regenerative process. From a small piece of healthy autologous tissue, the company creates an easily deployable, dynamic and self-propagating product designed to regenerate the target tissues. PolarityTE's innovative method is intended to promote and accelerate growth of the patient's tissues to undergo a form of effective regenerative healing. Learn more at www.PolarityTE.com – Welcome to the Shift®.
SkinTE is a human cellular and tissue-based product derived from a patient's own skin intended for the repair, reconstruction, and replacement of skin tissue.
SkinTE is intended to be used by physicians or other appropriate healthcare providers for homologous uses of skin tissues/integument. Patients who have suffered from an event, disease, process or acquired deficit that results in the functional loss or void of skin/integument systems can receive SkinTE as an adjunct and/or in place of split-thickness skin grafting, full-thickness grafting, temporizing skin coverage and/or skin substitute products. SkinTE is for autologous use only. Aseptic technique during harvest and deployment of SkinTE is mandatory. SkinTE is marketed as an HCT/P regulated by the FDA solely under Section 361 of the Public Health Service Act and 21 CFR 1271.
Forward Looking Statements
Certain statements contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. They are generally identified by words such as "believes," "may," "expects," "anticipates," "intend," "plan," "will," "would," "should" and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company's beliefs and assumptions as of the date of this release. The Company's actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and other filings with the SEC (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Our actual results could differ materially due to risk factors and other items described in more detail in the "Risk Factors" section of the Company's Annual Reports and other filings with the SEC (copies of which may be obtained at www.sec.gov).
POLARITYTE, the POLARITYTE logo, WHERE SELF REGENERATES SELF, and WELCOME TO THE SHIFT are trademarks or registered trademarks of PolarityTE, Inc.
VP, Investor Relations
LifeSci Advisors, LLC
SOURCE PolarityTE, Inc.