Lisa Colleran and Benjamin Wolin Unanimously
Appointed to Rockwell Board
Rockwell Medical, Inc. (NASDAQ:RMTI), (the “Company”) announced
today that it has unanimously appointed Lisa Colleran and Benjamin
Wolin to its Board of Directors, effective March 7, 2018. Mr. Wolin
was also appointed Chairman of the Board.
The Company further announced that it has reached a support
agreement with Richmond Brothers, an investment advisor that is the
beneficial owner of 10.8% of the Company’s stock. The agreement
outlines Richmond Brothers’ support for the Company’s proposal to
declassify its Board of Directors, resulting in director terms of
one year for all directors. The proposal will be made to all
shareholders at the upcoming Annual Shareholder meeting in June,
2018.
Robert L. Chioini, Chief Executive Officer of Rockwell, stated,
“The addition of Lisa and Ben will add important expertise and
experience to the Board of Directors. In addition to these new
board appointments, the corporate governance improvement outlined
in our support agreement with Richmond Brothers underscores our
commitment to driving shareholder value as we embark on this next
stage of growth for the Company.” Chioini added, “We have a great
foundation at the Company, with two important FDA-approved drugs,
and I couldn’t be more excited about the progress we are making on
numerous fronts.”
Mr. Wolin was co-founder and CEO of Everyday
Health (NYSE:EVDY), the leading digital marketing and
communication platform for consumers, doctors and healthcare
companies, until it was acquired by JCOM in 2016 for nearly $500
million. Mr. Wolin is also Chairman of Diplomat Specialty
Pharmacy (NYSE:DPLO), the nation's largest independent
specialty pharmacy, and serves as an advisor and board member to a
variety of other leading technology and healthcare
organizations.
Mr. Wolin commented, “Rockwell Medical’s products improve
patient outcomes and Triferic can help reduce overall healthcare
spending by reducing the side effects and complications from renal
care. The Company’s mission is important and I look forward to
working with Rob, Rockwell’s CEO & Founder, and the rest of the
Board of Directors, to help drive success for all of our key
stakeholders, including patients, providers, employees and
shareholders.”
Ms. Colleran is a veteran in the healthcare industry with more
than 30 years of experience leading specialty medical products
companies, growing markets and creating shareholder value. She
served as President, Chief Executive Officer and Board Member for
LifeCell Corporation from 2011 to 2013. During her 11-year
tenure, LifeCell’s annual revenues grew from $25 million to $400
million and its market valuation increased from $100 million to
$1.7 billion, when LifeCell was sold in 2008. Prior to LifeCell,
Ms. Colleran spent approximately 20 years at Baxter Healthcare’s
Renal Division in various commercial and general management roles
with increasing responsibilities. She is currently an active board
member, advisor, and consultant to several innovative medical
technology companies.
“It is an exciting time for Rockwell, and I am delighted to be
joining the Board of Directors at this critical time,” said Ms.
Colleran. “Renal patients deserve to have access to the Company’s
innovative anemia management therapy and I believe Rockwell Medical
is poised to work closely with the nephrology community to make a
real difference in renal patients’ lives.”
In conjunction with the changes, Mr. Wolin will join the Audit
and Compensation Committees, Ms. Colleran will join Compensation
and Governance and Nominating Committees and Mark Ravich was
appointed Chairman of the Compensation Committee.
Patrick Bagley, one of Company’s longest serving directors and
critical advisors, has decided not to stand for re-election to the
Board of Directors at the Company’s Annual Shareholder meeting.
“I am pleased with today’s announcements,” said David Richmond,
Founding Partner and Chairman of Richmond Brothers. “I believe the
Board of Directors and governance of Rockwell Medical are aligned
with shareholders’ interests and will help ensure that the company
maximizes shareholder value. I remain confident in the Company’s
business and opportunities.”
About Benjamin WolinMr. Benjamin Wolin was
Chief Executive Officer and Co-Founder of Everyday Health, Inc.,
(“Everyday Health”) from January 2002 to December 2016. Mr. Wolin
is currently Chairman of Diplomat Specialty
Pharmacy (NYSE:DPLO), the nation's largest independent
specialty pharmacy. Mr. Wolin also serves on the Board of Directors
of a Dance Biopharm, a privately-held biotechnology company focused
on the development of Dance 501, a proprietary 'soft-mist' inhaled
insulin product to treat diabetes. Mr. Wolin also serves as an
advisor and board member to a variety of other leading technology
and healthcare organizations. He is a graduate of Bowdoin
College.
About Lisa ColleranMs. Lisa Colleran was Global
President of LifeCell Corporation from August 2008 to April 2013
and served as its Chief Executive Officer from January 2012 to
April 2013. She joined LifeCell in December 2002 as Vice President
of Marketing and Business Development and served as Senior Vice
President of Commercial Operations from July 2004 to August 2008.
Prior to LifeCell, Ms. Colleran spent 20 years at Baxter
Healthcare’s Renal Division in various commercial and general
management roles. Early in her career, Ms. Colleran was a renal
dialysis nurse at Cornell Medical Center. She currently serves on
the Board of Directors of Establishment Labs, an innovative breast
implant company and Ariste Medical a company developing a new class
of drug eluting medical devices. Ms. Colleran recently served as a
board member for Novadaq Technologies, Inc., helping to oversee its
$700M sale to Stryker Corporation. Ms. Colleran received her
Bachelor of Science from Molloy College and her Masters in Business
Administration from Loyola University of Chicago.
About Rockwell Medical, Inc.Rockwell Medical,
Inc. (“Rockwell”) is a fully-integrated biopharmaceutical company
targeting end-stage renal disease (ESRD) and chronic kidney disease
(CKD) with innovative products for the treatment of iron
replacement, secondary hyperparathyroidism and hemodialysis.
Rockwell’s FDA approved drug Triferic is indicated for iron
replacement and maintenance of hemoglobin in hemodialysis patients
suffering from anemia. Triferic delivers iron to patients
during their regular dialysis treatment, using dialysate as the
delivery mechanism. Triferic has demonstrated that it safely and
effectively delivers sufficient iron to the bone marrow and
maintains hemoglobin, without increasing iron stores (ferritin).
Rockwell intends to market Triferic to hemodialysis patients in the
U.S. dialysis market and globally.
Rockwell’s FDA approved generic drug Calcitriol is for treating
secondary hyperparathyroidism in dialysis patients. Calcitriol
(active vitamin D) injection is indicated in the management of
hypocalcemia in patients undergoing chronic renal dialysis. It has
been shown to significantly reduce elevated parathyroid hormone
levels. Reduction of PTH has been shown to result in an improvement
in renal osteodystrophy. Rockwell intends to market
Calcitriol to hemodialysis patients in the U.S. dialysis
market.
Rockwell is also an established manufacturer and leader in
delivering high-quality hemodialysis concentrates/dialysates to
dialysis providers and distributors in the U.S. and abroad. As one
of the two major suppliers in the U.S., Rockwell’s products are
used to maintain human life by removing toxins and replacing
critical nutrients in the dialysis patient’s bloodstream. Rockwell
has three U.S. manufacturing/distribution facilities.
Rockwell’s exclusive renal drug therapies support disease
management initiatives to improve the quality of life and care of
dialysis patients and are intended to deliver safe and effective
therapy, while decreasing drug administration costs and improving
patient convenience. Rockwell is developing a pipeline of drug
therapies, including extensions of Triferic for indications outside
of hemodialysis. Please visit www.rockwellmed.com for more
information.
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws, including, but not limited to, Rockwell’s
intention to sell and market Calcitriol and Triferic. Words such as
“may,” “might,” “will,” “should,” “believe,” “expect,”
“anticipate,” “estimate,” “continue,” “could,” “plan,” “potential,”
“predict,” “forecast,” “project,” “plan”, “intend” or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. While Rockwell
believes these forward-looking statements are reasonable, undue
reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the
date of this release. These forward-looking statements are based
upon current estimates and assumptions and are subject to various
risks and uncertainties, (including without limitation those set
forth in Rockwell’s SEC filings), many of which are beyond our
control, actual results could be materially different. Rockwell
expressly disclaims any obligation to update or alter any
statements whether as a result of new information, future events or
otherwise, except as required by law.
Contact:Michael RiceLifeSci Advisors,
LLC646-597-6979
Media Contact: Matt Middleman LifeSci Public
Relations (646) 627-8384
matt@lifescipublicrelations.comSource: Rockwell Medical,
Inc.
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