MONTREAL, Feb. 24, 2021 /PRNewswire/ – Ortho Regenerative Technologies Inc. (CSE: ORTH) (OTCQB: ORTIF) (“Ortho RTI” or the “Company“), a clinical stage orthobiologics company focused on the development of novel soft tissue repair regenerative technologies, announced today the appointment of Patrick O’Donnell to its Board of Directors, effective immediately.
“We are very pleased to welcome Patrick to the Ortho RTI Board of Directors to help lead a very important transition in the development of our company, as we prepare to start our first U.S. multisite Ortho-R rotator cuff tear repair Phase I/II clinical trial,” said Claude LeDuc, President and Chief Executive Officer of Ortho RTI. “Ortho RTI will greatly benefit from Patrick’s company-building experience as well as his expertise in the development and management of strategic partnerships fund-raising, commercial, clinical, regulatory and reimbursement strategies, all specific to our industry. We are looking forward to his insightful contribution to our Board”.
Commenting on his appointment to Ortho RTI’s Board of Directors, Mr. O’Donnell said: “I am happy to be joining the Board of Directors of Ortho RTI. The Company’s proprietary technology platform has the potential to help address significant unmet medical needs in a multitude of soft tissue repair related indications. I am excited to help Ortho RTI develop into an orthobiologics industry leader.”
The Company also announced the retirement of Prof Michael Buschmann and Prof. Caroline Hoemann from its Board of Directors, effective February 22, 2021. Prof Buschmann and Prof Hoemann have both provided the Company with more than five years of scientific leadership as Company founders, inventors, Board members and as members of the Scientific Advisory Board (“SAB”).
Commenting on the retirement of Prof Buschmann and Prof Hoemann, Mr. LeDuc also stated: “On behalf of the entire Board, I want to thank both Michael and Caroline for their distinguished service and significant contributions to Ortho RTI over many years. Michael and Caroline have been integral members of our Board since inception and driving forces behind the advancement of our proprietary RESTORE technology platform. They are leaving the Board but will continue to provide valuable leadership to the Company through their roles on the Scientific Advisory Board and Professor Buschmann’s position as Chief Scientific Officer.”
More about Patrick O’Donnell
Patrick O’Donnell is the President and Chief Executive Officer of HD LifeSciences, a prominent life sciences executive with over 25 years of experience guiding companies in both the pre-commercial and commercial stages. Mr. O’Donnell brings a comprehensive understanding of the medical device, orthobiologics and biomaterial industries in the orthopedic, spine, neurosurgery, and sports medicine markets.
Prior to his role at HD LifeSciences, he was Executive Vice-President & General Manager of Commercial Operations for Bonesupport A.B.;Co-Founder and CEO for Proteothera, Inc.; President and CEO for Histogenics Corporation / Prochon Biotech, Inc., Director of Global Marketing for Confluent Surgical, Inc., and sales and marketing positions of escalating responsibility for Johnson & Johnson / DePuy Spine. Patrick graduated from the University of Wisconsin-Madison.
About Ortho Regenerative Technologies Inc.
Ortho RTI is a clinical stage orthobiologics company dedicated to the development of novel therapeutic soft tissue repair technologies to dramatically improve the success rate of orthopedic and sports medicine surgeries. Our proprietary RESTORE technology platform is a proprietary muco-adhesive Chitosan-based biopolymer matrix, specifically designed to deliver biologics such as Platelet-Rich Plasma (PRP) or Bone Marrow Aspirate Concentrate (BMAC), to augment and guide the regeneration of new tissue in various musculoskeletal conditions. Ortho-R, our lead Chitosan-PRP hybrid drug/biologic implant combination product, is formulated and designed to increase the healing rates of occupational and sports related injuries to tendons, meniscus and ligaments. Other formulations are being developed for cartilage repair, bone void filling and osteoarthritis treatment. The proprietary Chitosan-PRP combination ORTHO-R implant can be directly applied into the site of injury by a surgeon during a routine operative procedure without significantly extending the time of the surgery and without further intervention. A multi- site US Ortho-R Rotator Cuff Tear Repair Pilot Phase I/II clinical trial is being planned and organized. In parallel, an FDA IND submission is planned for Q1-2021. Considering the significant potential of our technology platform, Ortho RTI continues to assess new therapeutic target uses outside of the soft tissue repair field. Further information about Ortho RTI is available on the Company’s website at www.orthorti.com and on SEDAR at www.sedar.com. Also follow us on LinkedIn and Twitter.
This news release may contain certain forward-looking statements regarding the Company’s expectations for future events. Such expectations are based on certain assumptions that are founded on currently available information. If these assumptions prove incorrect, actual results may differ materially from those contemplated by the forward-looking statements contained in this press release. Factors that could cause actual results to differ include, amongst others, uncertainty as to the final result and other risks. The Company disclaims any intention or obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by security laws.
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