Alachua, FL (PRWEB) August 25, 2014
AxoGen, Inc. (NASDAQ: AXGN), a leading medical technology company focused on the peripheral nerve repair market, reported today that John McLaughlin, President and Chief Executive Officer of PDL BioPharma, Inc. has resigned from AxoGen’s Board of Directors.
Mr. McLaughlin joined AxoGen’s Board in 2012 as part of the Revenue Interest Purchase Agreement between AxoGen and PDL. At this time, PDL is not appointing a replacement for Mr. McLaughlin. As a result, the number of Directors has been reduced from eight to seven.
“It has been a great honor and pleasure to serve on the AxoGen Board. During the past two years, AxoGen has made great strides including 47% sales growth in the most recently reported quarter. AxoGen is an impressive company with medically important products that are of increasing commercial significance, an experienced management team whose execution is creating and will continue to create shareholder value, and a Board of Directors composed of knowledgeable and successful industry and healthcare veterans dedicated to the company’s success,” said Mr. McLaughlin. “I look forward to closely following the Company’s future development.”
AxoGen Board Chairman Jamie Grooms commented, “AxoGen continues to drive a paradigm change in the way surgical nerve repair is performed. During John’s tenure the Company has generated double digit growth and achieved many significant milestones. We would like to extend our sincere gratitude to John for his service to the Board, and his insights and leadership. In addition, we would like to thank PDL for its continued support of our development.”
About AxoGen, Inc.
AxoGen (NASDAQ: AXGN) is a leading medical technology company dedicated to peripheral nerve repair. AxoGen’s portfolio of regenerative medicine products is available in the United States, Canada and several other countries and includes Avan
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