– USA, MD – Osiris Therapeutics, Inc. (NASDAQ: OSIR), a leading cellular and regenerative medicine company focused on developing and marketing products to treat conditions in wound care, orthopaedics and sports medicine, is pleased to announce that its Board of Directors, at a Board Meeting on March 3rd, 2016, confirmed the appointment of Dwayne Montgomery as the President and Chief Executive Officer. He will also serve as a Director of the company and stand for re-election by the company’s Stockholders at its 2016 Annual Meeting.
In addition, Osiris is pleased to announce the election of Thomas M. Brandt to the position of director, upon recommendation of the Nominating Committee, and he will stand for re-election at the Annual 2016 Stockholders Meeting. Mr. Brandt joins Osiris as an independent Board Member, and given his qualifications, has been appointed to serve as a member of the company’s Audit Committee.
“We are pleased to have Mr. Montgomery take on this leadership role at an important juncture for Osiris,” said Peter Friedli, Chairman of the Board. “Dwayne is a respected industry executive whose accomplishments are well recognized in the marketplace; both his strategic capabilities and commercial execution are what is needed to accelerate Osiris’ growth and profitability. Mr. Brandt has extensive knowledge and experience in both finance and business, and his insights will be greatly appreciated.”
Mr. Montgomery previously served as Interim CEO since February 2016 and as Chief Business Officer for Osiris; he brings over 20 years of commercial and business development experience. Prior to joining Osiris, Mr. Montgomery served as a commercial executive for venture-backed organizations in the trauma and spine markets. He held progressing roles of executive responsibility at Smith & Nephew, Inc., serving as Vice President and General Manager for the Orthopaedic Global Trauma Business. He also held the role of Vice President Sales and Marketing for the Clinical Therapies Global Business, a division that eventually became Bioventus, Inc.
Mr. Brandt served as a board member for TeleCommunication Systems Inc. (TCS; NASDAQ:TSYS) from 2009 until its sale to Comtech Telecommunications in February, 2016, and was Chief Financial Officer for the company beginning in 1997. He led TCS through an IPO in 2000 and helped the company grow from $25 million of revenue in 1998 to nearly $400 million in 2015. Prior to his role at TeleCommunication Systems, Mr. Brandt was CFO of Digex, Inc., an internet service provider, where he helped lead its 1996 IPO. Earlier in his career, he worked in the audit practice of Price Waterhouse for 12 years. He has more than three decades of experience enhancing corporate performance through alignment of corporate finance strategies with organizational objectives. Mr. Brandt currently serves as a member of the boards of Antenna Research Associates and the YMCA of Central Maryland, as well as on Silicon Valley Bank’s CFO Advisory Board. Mr. Brandt is a CPA with a bachelor’s degree in management science from Duke University and an MBA from the Wharton School of the University of Pennsylvania.
About Osiris Therapeutics
Osiris Therapeutics, Inc., based in Columbia, Maryland, is a leader in researching, developing and marketing cellular regenerative medicine products that improve the health and lives of patients and lower overall healthcare costs. Having developed the world’s first approved stem cell drug, Osiris works to further advance the medical field. Osiris’ research and development in biotechnology focuses on innovation in regenerative medicine – including bioengineering, stem cell research and viable tissue based products. Osiris has achieved commercial success with products in orthopaedics, sports medicine and wound care, including BIO4, a viable bone matrix, Cartiform, a viable osteochondral allograft, Grafix, a cryopreserved placental membrane, TruSkin, a viable human skin allograft and Stravix, a durable placental allograft.
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