‒ Experienced Biotechnology Business Development & Strategic Planning Executive to Lead Commercial Partnership Activities ‒
WALTHAM, Mass., June 05, 2017 (GLOBE NEWSWIRE) -- Histogenics Corporation (Histogenics) (Nasdaq:HSGX), a regenerative medicine company focused on developing and commercializing products in the musculoskeletal space, announced the appointment of Donald Haut, Ph.D. as its Chief Business Officer. Dr. Haut brings more than 20 years of executive management experience in business development, licensing, mergers and acquisitions, strategic planning and commercial management, with over $4 billion in transactions completed across the biotechnology, pharmaceutical and medical device industries. Dr. Haut will oversee Histogenics’ commercial licensing discussions in Japan and other regions outside of the United States, will establish commercial and product development strategies in the United States and be responsible for all alliance management, business development, licensing and strategic collaborations.
“Don is the consummate deal professional and his broad background and expertise across biotechnology, pharmaceuticals and medical devices will be invaluable to us as we capitalize on the NeoCart platform opportunity worldwide,” stated Adam Gridley, President and Chief Executive Officer. “We’re pleased to have Don join our talented management team to work with us on various business development and strategic planning initiatives. With our recent regulatory pathway clarity in Japan and impending completion of enrollment in our Phase 3 NeoCart trial, Histogenics is at a critical inflection point in its history. Don’s experience will be valuable as we seek transformational deals and strategies to optimize the NeoCart opportunity, initially in our core knee cartilage application, but also as we grow our technology platform into new markets, indications and other potential tissue types.”
“The NeoCart technology holds tremendous promise, and could revolutionize regenerative therapies outcomes in orthopedics, and the Histogenics team and board are exceptional,” commented Dr. Haut. “I am thrilled to become a part of this exciting therapeutic platform and team.”
Prior to Histogenics, Dr. Haut was Managing Director of Haut Capital, providing executive-level business development and strategic planning services for a variety of public biotechnology and medical device companies, and currently serves on the Board of Directors for two health care companies: Arthrosurface, Inc. and Xiros, Ltd. He was previously Vice President for New Business Ventures at The Medicines Company, where he was responsible for leading Sales Operations, as well as a number of transactions, including that company’s deal to license Alnylam’s PCSK9 inhibitor. Previously, he was the Senior Vice President for Strategy and Business Development at Smith and Nephew’s Advanced Surgical Devices Division, where he was responsible for all strategy development, mergers and acquisitions and licensing activities, and also built and ran Smith & Nephew’s Women’s Health business. Dr. Haut also previously held similar roles at 3M, JSB Partners and McKinsey and Company. Don obtained his MBA at the Olin Business School of the Washington University in St. Louis, his PhD in Molecular Biology at the University of Missouri-Columbia, and his undergraduate degree at the College of Wooster.
About Histogenics Corporation
Histogenics is a leading regenerative medicine company developing and commercializing novel tissue therapies that may offer more rapid and durable recoveries for patients with pain and loss of function due to musculoskeletal conditions. Histogenics’ regenerative medicine platform combines expertise in cell processing, scaffolding, tissue engineering and bioadhesives to create tissue ex-vivo. Histogenics’ first investigational product candidate, NeoCart is designed to treat cartilage defects in the knee and is currently in Phase 3 clinical development. NeoCart is designed to exhibit characteristics of articular, hyaline cartilage prior to and upon implantation into the knee and therefore does not rely on the body to make new cartilage. As a result, NeoCart is the only product in development or on the market with a one-year primary superiority endpoint as compared to the standard of care. There are more than 500,000 or more knee cartilage procedures in the United States each year, with many healthy active adults avoiding treatment as they seek other alternatives. Left untreated, even a small cartilage defect can expand in size and progress to debilitating osteoarthritis, ultimately necessitating a joint replacement procedure. Osteoarthritis is more common in adults over the age of 50, but the condition and precursors of the condition can be observed much earlier, and cartilage damage is believed to be one of the leading contributors of this disease. For more information, please visit www.histogenics.com.
Forward -Looking Statements
This press release contains certain “forward-looking” statements as that term is defined in the Private Securities Litigation Reform Act of 1995 regarding, among other things, statements relating to goals, plans, objectives and future events, including development plans for NeoCart in the United States and Japan. Histogenics intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform Act of 1995. Words such as, but not limited to, “anticipate,” “believe,” “can,” “could,” “expect,” “estimate,” “design,” “goal,” “intend,” “may,” “might,” “objective,” “plan,” “predict,” “project,” “target,” “likely,” “should,” “will,” and “would,” or the negative of these terms and similar expressions or words, identify forward-looking statements. Forward-looking statements are based upon current expectations that involve risks, changes in circumstances, assumptions and uncertainties.
Important factors that could cause actual results to differ materially from those reflected in Histogenics’ forward-looking statements include, among others: the timing and success of Histogenics’ NeoCart Phase 3 clinical trial; possible delays in enrolling the NeoCart Phase 3 clinical trial; the ability to obtain and maintain regulatory approval of NeoCart or any product candidates, and the labeling for any approved products; the scope, progress, expansion, and costs of developing and commercializing Histogenics’ product candidates; and other factors that are described in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of Histogenics’ Annual Report on Form 10-K for the year ended December 31, 2016 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2017, which are on file with the SEC and available on the SEC’s website at www.sec.gov. In addition to the risks described above and in Histogenics’ annual report on Form 10-K and quarterly reports on Form 10-Q, current reports on Form 8-K and other filings with the SEC, other unknown or unpredictable factors also could affect Histogenics’ results.
Past performance is not necessarily indicative of future results. No forward-looking statements can be guaranteed and actual results may differ materially from such statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. The information in this press release is provided only as of the date hereof, and Histogenics assumes no obligation to update its forward-looking statements on account of new information, future events or otherwise, except as required by law.
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