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MiMedx Group, Inc. Adds Parker H. 'Pete' Petit as Chairman of the Board of Directors, President, and Chief Executive Officer
Date:2/25/2009

ica expects to initiate design verification performance testing on its cervical artificial disc, which will be used for cervical spinal disc replacement. Satisfactory performance testing data would be used in support of an IDE submission to the FDA.
  • SpineMedica hopes to gain regulatory clearance for the Paradis Vaso Shield TM in the US and Europe by mid-year. Upon such approval, this innovative product could then be used by surgeons to isolate critical organs from the growth of scar tissue.
  • SpineMedica plans to introduce the Paradis Vaso Shield(TM) at the Spine Arthroplasty Society meeting in London, England in April and the American Association of Neurological Surgeons meeting in San Diego in May.
  • MiMedx expects to complete the validation of manufacturing, packaging, and sterilization of the first NDGA collagen-based product, the BioBraid(TM). The first use of this product could be in the veterinary market.
  • MiMedx expects to submit the BioBraid(TM) for FDA 510(k) marketing clearance, intended for augmentation and repair of achilles, patellar, biceps, tibial tendons, and the rotator cuff.
  • The Company has a current need for substantial additional funding for these product lines in order for the Company to continue as a going concern. While the capital markets have changed dramatically over the past several months, the Company feels strongly that the leadership of the Company, particularly with the addition of Mr. Petit as Chairman and CEO, has the ability to position the Company for its future opportunities.

    For further information, please refer to the Current Report on Form 8-K to be filed by MiMedx Group, Inc. with the SEC as soon as practicable, which will be accessible at: http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001376339
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    SOURCE MiMedx Group, Inc.
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