SALT LAKE CITY, July 02, 2018 (GLOBE NEWSWIRE) -- PolarityTE, Inc. (Nasdaq:COOL) today announced that Peter Cohen will join PolarityTE’s Board of Directors. Mr. Cohen is well known within the investment community having previously served on the Board of Directors at the NYSE, as well as previously serving as the CEO and Chairman of the Board of Cowen Inc., Shearson Lehman Cowen, and Republic New York Securities. Mr. Cohen is currently a Trustee of Mount Sinai Medical Center and has served on its board for approximately thirty years. With the addition of Mr. Cohen, PolarityTE will increase the independence of its Board of Directors, with five of the Board’s seven Directors being independent.
Mr. Cohen is currently a Member of the Board of Directors of Quadrant Biosciences, Inc., and Vice Chairman and Lead Director of the Board of Directors of Scientific Games Corporation. Additionally, Mr. Cohen has previously served on a number of corporate and industry boards, including The Federal Reserve International Capital Markets Advisory Committee, American Express, The Depository Trust Company, Telecom Italia SpA, Olivetti SpA, and Kroll Inc. He obtained a Masters of Business Administration from Columbia University in 1969 and a Bachelor of Science from The Ohio State University in 1968.
Mr. Cohen said, "Having spent over 40 years building, managing and investing in companies in various executive roles, I am now dedicating my time to working with companies that have the potential to impact the health and well-being of society in a dramatic way. I am very excited to be joining PolarityTE’s Board of Directors. My decision to join the Board is a testament to my belief in the Company, the management team, and the Company’s mission-based focus on transforming patient lives by developing products that have the potential to significantly impact quality of life. I look forward to helping PolarityTE through the transformational growth process and participating in the long-term success of the business.”
Denver Lough, CEO of PolarityTE, said, “We are very pleased to have Mr. Cohen join the Board of Directors at this important stage in our development. Peter’s operational experience, financial acumen, and belief in the Company’s mission will be instrumental as PolarityTE continues deliver on its commitment to enhance patient lives and outcomes. The entire management team is energized by the real momentum in our business, the strong reception our technology is receiving in the marketplace and both the short and longer-term opportunities in front of us.”
John Stetson, CIO, will continue in his current role without the added responsibility of Board Membership. PolarityTE thanks him for his dedication and guidance as an active Member of the Company’s Board.
PolarityTE is 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 and biomaterials for the fields of medicine, biomedical engineering and material sciences. The PolarityTE platform technology begins with a small piece of the patient’s own, or autologous, healthy tissue, rather than artificially manipulated individual cells. From this small piece of healthy autologous tissue, the company creates an easily deployable, dynamic and self-propagating product designed to enhance and stimulate the patient’s own cells to regenerate the target tissues. Rather than manufacturing with synthetic and foreign materials within artificially engineered environments, PolarityTE manufactures with the patient’s own tissue and uses the patient’s own body to support the regenerative process to create the same tissue from which it was derived. PolarityTE’s innovative method is intended to promote and accelerate growth of the patient’s tissues to undergo a form of effective regenerative healing.
Forward Looking Statements
Certain statements contained in this release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. They are generally identified by words such as “believes,” “may,” “expects,” “anticipates,” “intend,” “plan,” “will,” “would,” “should” and similar expressions. Readers should not place undue reliance on such forward-looking statements, which are based upon the Company’s beliefs and assumptions as of the date of this release. The Company’s actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and other filings with the SEC (copies of which may be obtained at www.sec.gov). Subsequent events and developments may cause these forward-looking statements to change. The Company specifically disclaims any obligation or intention to update or revise these forward-looking statements as a result of changed events or circumstances that occur after the date of this release, except as required by applicable law. Our actual results could differ materially due to risk factors and other items described in more detail in the “Risk Factors” section of the Company’s Annual Reports and other filings with the SEC (copies of which may be obtained at www.sec.gov).
POLARITYTE, the POLARITYTE logo, and SKINTE are all trademarks or registered trademarks of PolarityTE, Inc.
VP of IR & Corporate Strategy
LifeSci Advisors, LLC
Russo Partners LLC
Source: PolarityTE, Inc.
Released July 2, 2018