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AVITA Medical Appoints New Non-Executive Member to the Board of Directors

Key Takeaway: AVITA Medical has appointed Cary Vance as a new non-executive member of its Board of Directors, bringing over 25 years of leadership experience in the healthcare sector. Vance, who is currently the President and CEO of Titan Medical, is expected to aid in the strategic initiatives of AVITA, particularly in the commercialization of its innovative medical technologies. The move is part of AVITA's ongoing efforts to expand its market share, especially in the treatment of burns and related indications.

Market Sentiment Analysis

POSITIVE FACTORS

  • Appointment of Cary Vance brings extensive leadership experience.
  • Cary Vance's background in commercialization of medical technology is valuable.
  • AVITA Medical expects to leverage Vance’s expertise to increase market share.

Full Press Release Details

AVITA Medical Appoints New Non-Executive Member to the Board of Directors
VALENCIA, Calif. and MELBOURNE,
Australia, March 16, 2023 (GLOBE NEWSWIRE) - AVITA Medical, Inc. (NASDAQ: RCEL, ASX: AVH), a regenerative medicine company leading the development and commercialization of
first-in-class devices and autologous cellular therapies for skin restoration, announced today the appointment of Cary Vance to its Board of Directors, effective
Mr. Vance has over 25 years of extensive leadership experience with commercial and operational expertise in the healthcare
industry. He is currently the President and Chief Executive Officer of Titan Medical, a position he has held since July 2022. Prior to this appointment, he served as an independent director for Titan Medical s Board of Directors. Previously,
Mr. Vance served as President and CEO of XCath, a privately held neurovascular robotics company, having also served in similar roles at OptiScan Biomedical and Myoscience. Prior to these roles, he served as President and CEO of Hansen Medical,
a publicly held robotics company from 2014 to 2016. Additional executive leadership experience includes roles include at Teleflex, Covidien, and GE Healthcare. Mr. Vance holds both a Bachelor of Arts degree in Economics and an MBA from
Marquette University.
We are delighted to welcome Cary to our Board of Directors, said Lou Panaccio, Chairman of the Board of AVITA Medical.
Cary brings extensive expertise in the commercialization of novel medical technology platforms. We look forward to leveraging his experience driving strategic initiatives to build our market share in burns and future indications.
Authorized for release by the Chief Executive Officer of AVITA Medical, Inc.
ABOUT AVITA MEDICAL, INC.
AVITA Medical is a regenerative medicine company leading the development and commercialization of devices and autologous cellular therapies for skin restoration. The RECELL System technology platform, approved by the FDA for the treatment of acute thermal burns in both adults and children, harnesses the regenerative properties of a patient s own skin to create Spray-On Skin cells. Delivered at the point-of-care, RECELL enables improved
clinical outcomes and validated cost savings. RECELL is the catalyst of a new treatment paradigm and AVITA Medical is leveraging its proven and differentiated capabilities to develop
first-in-class cellular therapies for multiple indications, including soft tissue repair and repigmentation of stable vitiligo lesions.
AVITA Medical s first U.S. product, the RECELL System, was approved by the U.S. Food and Drug Administration (FDA) in September 2018. The RECELL System
is approved for acute partial-thickness thermal burn wounds in patients 18 years of age and older or application in combination with meshed autografting for acute full-thickness thermal burn wounds in pediatric and adult patients. In February 2022,
the FDA reviewed and approved the PMA supplement for RECELL Autologous Cell Harvesting Device, an enhanced RECELL System aimed at providing clinicians a more efficient user experience and simplified workflow.
The RECELL System is used to prepare Spray-On Skin Cells
using a small amount of a patient s own skin, providing a new way to treat severe burns, while significantly reducing the amount of donor skin required. The RECELL System is designed to be used at the point of care alone or in combination with
autografts depending on the depth of the burn injury. Compelling data from randomized, controlled clinical trials conducted at major U.S. burn centers and real-world use in more than 15,000 patients globally, reinforce that the RECELL System is a
significant advancement over the current standard of care for burn patients and offers benefits in clinical outcomes and cost savings. Healthcare professionals should read the INSTRUCTIONS FOR USE - RECELL Autologous Cell Harvesting Device
(https://recellsystem.com) for a full description of indications for use and important safety information including contraindications, warnings, and precautions.
In international markets, our products are approved under the RECELL System brand to promote skin healing in a wide range of applications including burns,
soft tissue repair, vitiligo, and aesthetics. The RECELL System is TGA-registered in Australia, received CE-mark approval in Europe and has PMDA approval in Japan.
To learn more, visit www.avitamedical.com.
FURTHER INFORMATION:
Phone +1-661-904-9269

Frequently Asked Questions

Who was appointed to AVITA Medical's Board of Directors?

Cary Vance was appointed to AVITA Medical's Board of Directors.

What is Cary Vance's current position?

He is currently the President and CEO of Titan Medical.

What does the RECELL System treat?

The RECELL System is approved for treating acute thermal burns.

When was the RECELL System approved by the FDA?

The RECELL System was approved by the FDA in September 2018.

Where are AVITA Medical's products approved internationally?

Products are approved in Australia, Europe, and Japan under the RECELL brand.

Last updated: Mar 16, 2023