Pharmaceutical Executive Brings Extensive Product Development & Operational Expertise to Late-Stage Regenerative Medicine Company
Waltham, MA., May 12, 2014—Histogenics Corporation, a regenerative medicine company focused on developing and commercializing products in the musculoskeletal space, today announced the appointment of Adam Gridley to President and Chief Executive Officer and as a member of the Company’s Board of Directors. Mr. Gridley brings over 20 years of proven results in the medical device and pharmaceutical industries, with a combination of transactional and public markets experience as well as strong operational leadership and product development expertise. Mr. Gridley’s career has focused on strategic elements of corporate growth with a demonstrated and successful track record in strategic planning, manufacturing and R&D expansions, and corporate and technology integrations.
“Adam’s expertise in growing and leading biotech companies and R&D organizations will be critical as we progress our lead investigational product, NeoCart®, through a Phase 3 pivotal trial and ultimately toward potential approval and commercialization,” said the Company’s Chairman, Garheng Kong. “We believe that Adam’s proven leadership will facilitate our Company’s vision of leveraging our regenerative medicine platform to become an emerging leader in the musculoskeletal and orthopedics space,” continued Dr. Kong.
“I am excited to join Histogenics as the Company builds out its operational functions, technology platform and commercial infrastructure. I believe that Histogenics has a significant opportunity with its lead investigational product NeoCart®, which has the potential to become an innovative therapy alternative to the current standard of care for cartilage repair in the knee,” said Mr. Gridley. “The management team, investors and Board of Directors at Histogenics has done an outstanding job supporting NeoCart’s ongoing Phase 3 trial in the U.S., and I look forward to leading the company through this pivotal stage of strategic growth and development.”
Prior to joining Histogenics, Mr. Gridley most recently served as Senior Vice President, Technical Operations at Merz, a privately-held specialty healthcare company focused on the development and commercialization of products for aesthetics, dermatology and neurosciences, where he was a global site head responsible for manufacturing and quality operations, information technology and sourcing activities. Previously, Mr. Gridley was Senior Vice President of Corporate Development for BioForm Medical, Inc. a publically-traded company that was acquired by Merz in 2010. In this role Mr. Gridley was responsible for all business development, investor relations, strategic planning, product development activities and R&D functions for the organization. Prior to that Mr. Gridley held several key strategic leadership roles in the orthopedics space during his career including Director of Business Development and Investor Relations at Gliatech Inc. Mr. Gridley holds a Bachelor of Science and a Master of Business Administration from the University of Denver.
Histogenics is a regenerative medicine company focused on developing and commercializing products in the musculoskeletal segment of the marketplace. Our regenerative medicine platform combines expertise in cell processing, scaffolding, tissue engineering, bioadhesives and growth factors to provide solutions that can be utilized individually or in concert to treat musculoskeletal-related conditions. Our first investigational product candidate, NeoCart®, leverages our platform to provide an innovative treatment in the orthopedic space, specifically cartilage damage in the knee. For more information on Histogenics, please visit the company website at www.histogenics.com.
NeoCart®, our Phase 3 investigational product is an implant produced using a patient’s own cartilage cells. A Phase 1 clinical trial conducted in the United States demonstrated favorable preliminary results, which supported proceeding to a Phase 2 clinical trial. A Phase 2 clinical trial conducted in the United States comparing NeoCart® to the standard-of-care microfracture met its endpoints for safety and for improvement in pain and function. These results support the continued clinical development of NeoCart®. The two-year results of our Phase 2 clinical trial are publicly available (Crawford et al. J Bone Joint Surg Am. 2012;94:979-89). A Phase 3 clinical trial conducted in the United States comparing NeoCart® to the standard-of-care microfracture is currently in progress. Information about the study is available on http://www.NeoCartImplant.com and http://www.clinicaltrials.gov.
For additional inquiries, please email us at InvestorRelations@histogenics.com or call us at 781.547.7900.
Forward Looking Statement
This press release contains “forward looking statements” including statements about Histogenics’ future operating results, product development, potential alliances and intellectual property. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, performance or achievements to be materially different from any future results, performances or achievements expressed or implied by the forward-looking statements.