SAN DIEGO, Sept. 20, 2017 (GLOBE NEWSWIRE) — REVA Medical, Inc. (ASX:RVA) (“REVA” or the “Company”) announced today that its Board of Directors has appointed Ray Larkin Jr., a current member of the Company’s Board of Directors, as Chairman of the Board, effective September 18, 2017. Mr. Larkin replaced Brian Dovey, who stepped down as Chairman, but will remain on the Company’s Board of Directors.
REVA’s Chief Executive Officer, Ms. Reggie Groves said, “We are looking forward to working with Ray as our new Chairman. It is an exciting time for the Company as we embark on the commercialization of Fantom. Ray has a tremendous amount of experience that will help us as we transition from an R&D organization to a fully commercial enterprise focused on growing sales and expanding our product portfolio.”
Mr. Larkin stated, “I am excited to work with the REVA management team as we transform the Company and commercialize Fantom in Europe. We are well positioned to drive the Company towards future growth.”
Ms. Groves continued, “We also offer our thanks to Brian Dovey for his dedication and contributions to REVA as Chairman of the Board. We appreciate his guidance and leadership and we are very pleased that he will continue to serve on the Company’s Board.”
About REVA
REVA is a medical device company located in San Diego, California, USA, that has developed and commercialized a proprietary bioresorbable scaffold, as an alternative to metal stents, to treat coronary artery disease. Scaffolds provide restoration of blood flow, support the artery through the healing process, then disappear (or “resorb”) from the body over a period of time. This resorption allows the return of natural movement and function of the artery, a result not attainable with permanent metal stents. The Company’s Fantom® scaffold, which received European CE Marking on April 3, 2017, is designed to offer an ideal balance of thinness and strength, with distinct ease-of-use features including complete scaffold visibility under x-ray, expansion with one continuous inflation, and no procedural time limitations.
Forward-Looking Statements
This announcement contains or may contain forward-looking statements that are based on management’s beliefs, assumptions, and expectations and on information currently available to management. All statements that are not statements of historical fact, including those statements that address future operating plans or performance and events or developments that may occur in the future, are forward-looking statements, such as those statements regarding the projections and timing surrounding commercial operations and sales, clinical trials, pipeline product development, and future financings. No undue reliance should be placed on forward-looking statements. Although management believes forward-looking statements are reasonable as and when made, forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to vary materially from those expressed in forward-looking statements, including the risks and uncertainties that are described in the “Risk Factors” section of our Annual Report on Form 10-K filed with the US Securities and Exchange Commission (the “SEC”) on February 28, 2017, and as updated in our periodic reports thereafter. Any forward-looking statements in this announcement speak only as of the date when made. REVA does not assume any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
