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PolarityTE, Inc. Announces the Addition of Ramses Erdtmann, Managing Partner at Point Sur Investors and Former Executive at Pharmacyclics, and David Seaburg, Managing Director at Cowen and CNBC Contributor, to the Board of DirectorsSALT LAKE CITY, Aug. 09, 2018 (GLOBE NEWSWIRE) -- PolarityTE, Inc. (Nasdaq: COOL), a commercial-stage biotechnology and regenerative biomaterials company focused on transforming the lives of patients by discovering, designing and developing a range of regenerative tissue products for the fields of medicine, biomedical engineering and material sciences, today announced the addition of Ramses (Rainer) Erdtmann and David Seaburg to the Board of Directors. Mr. Erdtmann is a Managing Partner at Point Sur Investors, a biotech investment fund focused on innovative therapies. Mr. Erdtmann previously worked at Pharmacyclics from 2008 through 2015 and remained with AbbVie as a consultant until 2016 post the acquisition of Pharmacyclics by AbbVie. Mr. Seaburg is a Managing Director at Cowen, Inc. and a CNBC contributor, regularly commenting on the financial prospects of companies and interacting with management teams and institutional investors. Mr. Erdtmann is replacing Ned Swanson, MD, Chief Operating Officer, as a member of the Board of Directors. With the addition of Mr. Erdtmann and Mr. Seaburg to the Board of Directors, PolarityTE increases the number of Directors from seven to eight, with six of the Board’s Directors being independent. Dr. Swanson remains the Chief Operating Officer and PolarityTE thanks him for his contributions to the Board since the formation of the Company. During his time at Pharmacyclics, Mr. Erdtmann witnessed and helped grow Pharmacyclics from 47 employees and a market cap of $20 Million, to 634 employees and a market cap of $21 Billion. Mr. Erdtmann oversaw several departments and helped Pharmacyclics evolve into a fully integrated biotech company. He held a number of roles and, at various times, also had responsibility for Accounting, SEC Reporting, Audits, Corporate Communications and Investor Relations. He worked closely with the CEO and the Audit and Compensation Committee. Mr. Erdtmann actively participated in the final execution of key corporate milestones for Pharmacyclics, including the Collaboration Agreement with Johnson & Johnson in 2011 and the Merger Agreement with AbbVie in 2015. Mr. Seaburg is a Managing Director and Head of Sales Trading at Cowen, a leading healthcare franchise in equities research, sales and trading and investment banking. Over the course of his more than 20 year career at Cowen in both Equity Sales Trading and Trading, Mr. Seaburg has advanced to increasingly senior roles at the firm. In 2006, Mr. Seaburg was named Head of Sales Trading and appointed to the firm’s Equity Operating Committee. In his role at Cowen, Mr. Seaburg has interacted with thousands of healthcare investors and company management teams. Mr. Seaburg is a CNBC Fast Money Contributor and provides regular on-air market commetary for the network. Denver Lough, CEO of PolarityTE said, “We are very pleased to have Mr. Erdtmann and Mr. Seaburg join the Board of Directors at this important stage in our development. Ramses’ operational experience at Pharmacyclics during its transition into a multi-billion dollar commercial biotech company and David’s investment expertise, long tenure at Cowen, and experience with healthcare management teams will be tremendously valuable as PolarityTE continues to execute on the business.” Ramses Erdtmann commented, “PolarityTE’s products are truly transformational and life changing to many patients. I believe the company’s mission and purpose are very important to the field of regenerative medicine. The team has made incredible advances to date and it is my honor join the board of directors, leverage my experience and support PolarityTE in achieving its long-term goals and potentials.” Mr. Seaburg commented, “I’m honored to join PolarityTE’s Board and am convinced the proprietary technology being developed has real potential to change the paradigm of tissue regeneration, from skin wound care to various other tissues and organs. There are not many opportunities to be part of a company with a platform technology that has the potential to revolutionize medicine, and I’m eager to play an active role in this important process for PolarityTE.” About PolarityTE™ About SkinTE™ SkinTE is for autologous use only. Aseptic technique during harvest and deployment of SkinTE is mandatory. SkinTE is regulated by the FDA as an HCT/P solely under Section 361 of the Public Health Service Act and 21 CFR 1271. The FDA has specific regulations governing HCT/Ps. HCT/Ps that meet the criteria for regulation solely under Section 361 of the Public Health Service Act and 21 CFR 1271 (361 HCT/Ps) are not subject to pre-market clearance or approval requirements, but are subject to post-market regulatory requirements. Forward Looking Statements POLARITYTE, the POLARITYTE logo, and SKINTE are trademarks or registered trademarks of PolarityTE, Inc. CONTACTS: Hans Vitzthum Media: |