Orthovita, Inc. (NASDAQ: VITA), an orthobiologics and biosurgery
company, today announced that Nancy C. Broadbent will join the Company
as Senior Vice President and Chief Financial Officer effective May 26,
2009. Concurrently with the appointment of Ms. Broadbent, Mr. Albert J.
Pavucek, Jr. will be appointed Principal Financial Consultant of
Orthovita.
"We are very pleased to welcome Nancy to Orthovita,” said Antony
Koblish, President and Chief Executive Officer. "With several years of
strong historical sales growth for our existing products and a
regulatory submission for our CORTOSS product candidate under review by
the FDA, Orthovita is at an exciting stage of its development. Nancy’s
25 years of financial experience, including 15 years as the chief
financial officer of several emerging growth companies in the healthcare
industry, will be an important asset as we continue our efforts to build
and expand our orthobiologics and biosurgery businesses.”
Most recently, Ms. Broadbent was Senior Vice President and Chief
Financial Officer of CollaGenex Pharmaceuticals, Inc., a publicly-held
dermatology company that was acquired by Galderma Pharma S.A. in
February 2008. Ms. Broadbent joined CollaGenex in 1996 as its first
finance employee and developed and managed all accounting, financial,
investor relations and information technology functions, which included
the execution of CollaGenex’s initial public offering and numerous
subsequent financings. Ms. Broadbent’s background includes more than 10
years of corporate finance experience at prominent Wall Street
investment banks, including Salomon Brothers and PaineWebber
Incorporated, where she advised clients primarily in the area of mergers
and acquisitions.
About the Company
Orthovita is an orthobiologics and biosurgery company that develops and
markets novel medical devices. The orthobiologics platform offers
products for the fusion, regeneration, and fixation of human bone. The
biosurgery platform offers products for controlling intra-operative
bleeding, also known as hemostasis. Our current fusion and regeneration
products are based on our proprietary VITOSSTM Bone Graft
Substitute technology and address the non-structural bone graft market
with synthetic, bioactive alternatives to patient- and cadaver-derived
bone tissue. CORTOSSTM Bone Augmentation Material, an
injectable, polymer composite that mimics the structural characteristics
of human bone, provides the basis for our fixation portfolio. Our
hemostasis portfolio includes VITAGELTM Surgical Hemostat, a
unique, collagen-based matrix that controls bleeding and facilitates
healing, and VITASURE™ Absorbable Hemostat, a plant-based product that
can be deployed quickly throughout surgery.
Disclosure Notice
This press release may contain forward-looking statements regarding
Orthovita’s current expectations of future events that involve risks and
uncertainties, including, without limitation, the development,
regulatory clearance or approval, demand and market acceptance of our
products, including CORTOSS; and other aspects of our business. Such
statements are based on management’s current expectations and are
subject to a number of substantial risks and uncertainties that could
cause actual results or timeliness to differ materially from those
addressed in the forward-looking statements.
Factors that may
cause such a difference are listed from time to time in reports filed by
the Company with the U.S. Securities and Exchange Commission (SEC),
including but not limited to risks described in our most recently filed
Form 10-K under the caption "Risk Factors.”
Further
information about these and other relevant risks and uncertainties may
be found in Orthovita’s filings with the SEC, all of which are available
from the SEC as well as other sources. Orthovita undertakes no
obligation to publicly update any forward-looking statements.