Full Press Release Details
Therapeutics Appoints Industry-Recognized R&D Executive John W. Sheets,
Jr., Ph.D. as Chief Scientific Officer
Also Announces Resignation of COO Frank Luppino
BEDFORD, Mass.--(BUSINESS WIRE)--October 2, 2013--Anika Therapeutics,
Inc. (Nasdaq: ANIK), a leader in products for tissue protection, healing
and repair, based on hyaluronic acid ("HA") technology, today announced
it has appointed John W. Sheets, Jr., Ph.D. as its new Chief Scientific
Officer. Dr. Sheets joins Anika from Boston Scientific, where he was
Senior Vice President, Corporate Research. At Boston Scientific, he was
responsible for revitalizing product development by establishing new
global processes, creating worldwide technology strategies, and
establishing new product sourcing and development networks with a focus
on emerging markets.
Dr. Sheets replaces Jing-wen Kuo, Ph.D. who is leaving to pursue other
opportunities at the end of October. In addition to driving Anika's
research and development efforts, Dr. Sheets is leading the company's
regulatory, clinical affairs and engineering functions. These previously
were overseen by COO Frank Luppino, who is leaving Anika at the end of
October to pursue other interests. Mr. Luppino's remaining
responsibilities are being smoothly transitioned to existing senior
executives, with operations management reporting directly at the CEO
"John's appointment as Chief Scientific Officer to oversee our
technology and pipeline development provides us with significantly
stronger leadership in those critical areas," said Charles H. Sherwood,
Ph.D., Anika's President and CEO. "His R&D expertise, multi-national
partnership experience, and business acumen will be valuable assets as
we advance Anika's strategic initiatives and prepare the company for the
next level of growth. As we welcome John, we also would like to thank
Frank and Jing-wen for their many contributions to Anika's past success."
Prior to his work at Boston Scientific, Dr. Sheets was Corporate Vice
President of R&D and Chief Technology Officer for Bausch and Lomb. He
also served as President of Hoya Surgical Optics and worked for Ethicon
(Johnson & Johnson), Alcon Laboratories and Iolab Corporation (Johnson &
Johnson) in California. Dr. Sheets holds a B.S., a M.S., and a Ph.D. in
Materials Science and Engineering from the University of Florida,
About Anika Therapeutics, Inc.
Headquartered in Bedford, Mass., Anika Therapeutics, Inc. develops,
manufactures and commercializes therapeutic products for tissue
protection, healing, and repair. These products are based on hyaluronic
acid (HA), a naturally occurring, biocompatible polymer found throughout
the body. Anika's products range from orthopedic/joint health solutions
led by Orthovisc , a treatment for osteoarthritis of the
knee; to surgical aids in the anti-adhesion and ophthalmic fields. The
company also offers aesthetic dermal fillers for the correction of
facial wrinkles. Anika's Italian subsidiary, Anika Therapeutics, S.r.l.,
provides complementary HA products in orthopedic/joint health and
anti-adhesion, as well as therapeutics in areas such as advanced wound
treatment and ear, nose and throat care. Its regenerative technology
advances Anika's vision to offer therapeutic products that go beyond
pain relief to protect and restore damaged tissues.
The statements made in this press release which are not statements of
historical fact are forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E
of the Securities Exchange Act of 1934, as amended. These statements
include, but are not limited to, those relating to the appointment of
John Sheets, Jr., Ph.D. as Anika's Chief Scientific Officer; the
departure of Jing-wen Kuo, Ph.D. as the company's Chief Scientific
Officer; the departure of Frank Luppino as the company's Chief Operating
Officer; the nature and successful transition of Mr. Luppino's
responsibilities to existing senior executives; and the impact of
management changes on its development initiatives and preparation of the
company for the next level of growth. The company's actual
results could differ materially from any anticipated future results,
performance or achievements described in the forward-looking statements
as a result of a number of factors including (i) the company's ability
to successfully commence and/or complete clinical trials of its products
on a timely basis or at all, obtain pre-clinical or clinical data to
support a pre-market approval application or 510(k) application, or
timely file and receive FDA or other regulatory approvals or clearances
of its products, or that such approvals will not be obtained in a timely
manner or without the need for additional clinical trials, other testing
or regulatory submissions, as applicable; (ii) the company's research
and product development efforts and their relative success, including
whether the company has any meaningful sales of any new products
resulting from such efforts; (iii) the cost effectiveness and efficiency
of the company's clinical studies, manufacturing operations and
production planning; (iv) the strength of the economies in which the
company operates or will be operating, as well as the political
stability of any of those geographic areas; (v) future determinations by
the company to allocate resources to products and in directions not
presently contemplated; (vi) the company's ability to launch Monovisc in
the U.S., if at all; (vii) the company's ability to provide an adequate
and timely supply of its ophthalmic, Orthovisc and other products to its
customers; (viii) the company's ability to successfully manage and
turnaround Anika S.r.l.'s business; and (ix) the company's ability to
achieve its stated growth targets. Certain other factors that
might cause the company's actual results to differ materially from those
in the forward-looking statements include those set forth under the
headings "Business," "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" in the
company's Annual Report on Form 10-K for the year ended December 31,
2012, as well as those described in the company's other press releases
Anika Therapeutics, Inc.
Charles H. Sherwood, Ph.D.,