Aziyo Biologics Strengthens Leadership Team and Organizes for Growth in Key Markets

Rhea-AI Summary

Aziyo Biologics, Inc. (Nasdaq: AZYO) has announced key promotions and new hires aimed at enhancing its leadership team to further its commercial and financial objectives. Notable changes include Courtney Guyer as Vice President and General Manager of Women’s Health, Sonali Fonseca, Ph.D. as Vice President and General Manager of Orthobiologics and Emerging Business, and Jeff Hamet as Senior Vice President of Finance. Dr. Randy Mills expressed confidence in the team's capabilities, highlighting their experience and talent needed for the company’s strategic execution.

Positive

• Promotion of experienced leaders to enhance company strategies.
• Courtney Guyer's background in medical marketing strengthens Women's Health division.
• Dr. Sonali Fonseca's expertise in biotech and healthcare technology improves business strategy.
• Jeff Hamet's financial leadership draws from extensive experience in life sciences.

Negative

• Potential disruption due to management changes within leadership.
• Concerns about continuity in leadership experience, particularly in newly introduced roles.

Senior team enhanced to advance Aziyo’s commercial and financial objectives

SILVER SPRING, Md., Oct. 11, 2022 (GLOBE NEWSWIRE) -- Aziyo Biologics, Inc. (Nasdaq: AZYO), a biological device company with a portfolio of commercial products across four distinct businesses, today announced key promotions and new hires that solidify its position as a leader in treatment options for patients receiving implantable medical devices and other surgical procedures.

Courtney Guyer was promoted to Vice President and General Manager of the Women’s Health division, and Sonali Fonseca, Ph.D. was named Vice President and General Manager of Orthobiologics and Emerging Business. Jeff Hamet was elevated to the position of Senior Vice President of Finance, and Erica Elchin was hired as Vice President of Global Operations.

“Over the past 90 days, the team and I have been working together to organize the company in a manner that maximizes shareholder value. We believe that we are at an inflection point and these key additions and promotions, coupled with our existing team, provide us the leadership bandwidth necessary to be successful. Having worked with each of these executives previously, I know first-hand that they possess the talent, experience, and drive to execute on our strategies,” said Dr. Randy Mills, Chief Executive Officer of Aziyo Biologics. “It is truly an honor and joy to work alongside such an exceptional leadership team.”

•     Courtney Guyer, Vice President, and General Manager of Women’s Health:

Guyer joined Aziyo in 2018 as Vice President of Marketing bringing global leadership experience in established and start-up medical device companies across multiple therapeutic areas. Prior to joining Aziyo, she served as Senior Director of Marketing at Medinol, an international cardiovascular company where she led the pivotal launches of bare metal and drug eluting coronary stent products. Previously, Guyer led U.S. and global marketing teams at LifeCell, working on upstream and downstream launches and product portfolio projects. She also held sales and marketing roles at Johnson & Johnson and Merck. Guyer holds an MBA from The Wharton School at the University of Pennsylvania and a Bachelor of Science in biology from Pennsylvania State University.

•     Sonali Fonseca, Ph.D., Vice President, and General Manager of Orthobiologics and Emerging Business:

Dr. Fonseca is a proven commercial strategist and leader in the biotech and healthcare technology solutions spaces. Previously, she served as Vice President of Strategic Initiatives at Sanford Burnham Prebys Medical Discovery Institute where she led the translation and commercialization of new medical discoveries. Prior to that, Dr. Fonseca was Vice President of Commercial Operations for Elsevier’s ClinicalPath franchise, an oncology clinical decision business. Dr. Fonseca also worked at PwC Strategy focusing on M&A in the US and UK Life Science space, and at Deloitte where she advised pharma and biotech clients on organic growth strategy and operational execution. Dr. Fonseca earned a Ph.D. in pharmaceutical sciences and drug design from the University of Toronto.

•     Jeff Hamet, Senior Vice President of Finance:

Hamet joined Aziyo Biologics at its inception, bringing more than 25 years of senior-level finance, accounting and management experience, primarily in the life sciences, medical services and high-technology industries. Previously, he served as President and Chief Financial Officer of NeurExpand Brain Center and Vice President and Corporate Controller of Martek Biosciences Corporation. During his tenure with Martek, the company experienced dramatic growth in revenues, profits and employees, culminating in its acquisition by Royal DSM N.V. for $1.1 billion. Prior to joining Martek, Hamet served as a financial executive at IGEN International, Inc. and ARBROS Communications, Inc., and Jeff began his career at the international accounting firm, Arthur Andersen LLP. He holds a bachelor’s degree in accounting from the University of Maryland and is a Certified Public Accountant.

•     Erica Elchin, Vice President of Global Operations:

Elchin is a results-driven biotechnology professional with over 20 years of experience across biologics, medical devices and pharmaceuticals. She is returning to Aziyo after leading cell therapy process improvement efforts at the National Marrow Donor Program (NMDP). Previously, she served as Aziyo Biologics’ Vice President of Technical Services, overseeing quality, regulatory, donor services and production technology of the company’s proprietary biologic products. In addition, she led Operations at Osiris Therapeutics, where she was responsible for production of a portfolio of proprietary commercial wound care and orthopedic cell therapy products. Elchin began her career developing viral-processing technologies at Wyeth Vaccines, including manufacturing for FluShield® and FluMist®. She holds a Master of Science in environmental science from Johns Hopkins University and a bachelor’s degree in biology from Pennsylvania State University.

About Aziyo Biologics
Aziyo Biologics is a regenerative medicine company with a commercial portfolio of differentiated products focused on improving outcomes in patients undergoing a range of surgical procedures, primarily for implantable medical devices. Since its founding in 2015, the Company has created a portfolio of commercial-stage products used in cardiovascular, orthopedic, and reconstructive specialties. For more information, visit www.Aziyo.com.

Forward-Looking Statements
Statements in this press release regarding management’s future expectations, beliefs, intentions, goals, strategies, plans or prospects are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited, to statements regarding the Company’s advancement of its strategic and financial objectives, development of its products and its business potential. Forward-looking statements may be identified by words such as “anticipates,” “believe,” “continue,” “expect,” “goal,” “intend,” “may,” “plan to,” “potential,” “projects,” “will,” and other similar words or expressions, or the negative of these words or similar words or expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other important factors, including, without limitation, the risks referred to under the section “Risk Factors” in the Company’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2022, as such factors may be updated from time to time in the Company’s other filings with the Securities and Exchange Commission (“SEC”), which filings are accessible on the SEC’s website at www.sec.gov and the Investors page of the Company’s website at https://investors.aziyo.com. All forward-looking statements speak only as of the date of this press release and, except as required by applicable law, the Company has no obligation to update or revise any forward-looking statements contained herein, whether because of any new information, future events, changed circumstances or otherwise.

Investors:
Matt Ferguson
Aziyo Biologics, Inc.
investors@aziyo.com

Media:
Courtney Guyer
Aziyo Biologics, Inc.
PR@aziyo.com

FAQ

What recent changes were made to Aziyo Biologics' management team?

Aziyo Biologics promoted Courtney Guyer to Vice President and General Manager of Women’s Health and Sonali Fonseca, Ph.D., to Vice President and General Manager of Orthobiologics. Jeff Hamet was elevated to Senior Vice President of Finance, while Erica Elchin was hired as Vice President of Global Operations.

What is the expected impact of the management changes at Aziyo Biologics?

The changes aim to enhance leadership capabilities, improve strategic execution, and maximize shareholder value, positioning the company for growth.

When was the management change at Aziyo Biologics announced?

The management change was announced on October 11, 2022.

Who is the CEO of Aziyo Biologics?

Dr. Randy Mills is the CEO of Aziyo Biologics.

What qualifications do the new executives at Aziyo Biologics have?

The new executives bring diverse backgrounds in medical device companies, biotech commercialization, and finance, enhancing the executive team's overall experience.