"I am pleased to be joining Cytomedix, and to have the opportunity to work with this impressive team to drive value for the company and its stakeholders," said Mr. Shallcross. "I look forward to quickly contributing to the next stage in Cytomedix's evolution as a fully integrated organization focused on innovation and value creation."
Mr. Shallcross replaces Andrew Maslan, CPA who has served as Chief Financial Officer of Cytomedix since 2005 and will resign effective May 10, 2013 to pursue further career opportunities.
Mr. Rosendale added, "The Board of Directors and I wish to thank Andrew for his significant contributions over the years. During his tenure, he and his team played an integral role in Cytomedix's growth from a development stage company with seven employees, to a fully integrated commercial organization with an international reach and a robust corporate infrastructure."
Mr. Shallcross presently serves as Executive Vice President and Chief Financial Officer of Empire Petroleum Partners, LLC, a motor fuel distributor. Previously, he served as Acting Chief Financial Officer for Sensors for Medicine and Science, Inc., a medical device company. Prior to that, he was Executive Vice President and Chief Financial Officer of Innocoll Holdings, Inc., a biopharmaceutical company specializing in the development and commercialization of collagen based products. Mr. Shallcross also held Chief Financial Officer and Treasurer positions at Vanda Pharmaceuticals, Inc., and at MiddleBrook Pharmaceuticals, Inc. (formally Advancis Pharmaceutical Corporation).
Mr. Shallcross is a certified public accountant and his experience includes equity and debt transactions that raised over $600 million in capital, including two initial public offerings. He has also worked on mergers and acquisitions, partnership and product development collaborations, strategic planning and budgeting, SEC reporting, and systems integration. He received a Bachelor's degree in Accounting from the University of Illinois and an M.B.A. degree from the University of Chicago, Booth School of Business.
Sentiment: Strong Buy
Hopefully we start to see more institutional coverage and ownership....that is where Cytomedix is really lacking. They have not done a good job in getting the word out there...one look at the institutional ownership clearly shows they have a huge gap that needs to be filled.
Or they HAVE got the word out there and institutions have said NO THANKS. Like the potential partner who shelled out a couple million who then said, better to lose a couple million than partner with you. But we are in better position than ever and that justifies raises and bonuses.
Steve has over 20 years of financial and operational experience in the pharmaceutical industry. He has held senior executive roles with a number of emerging biopharmaceutical companies, and most recently served as the Chief Financial Officer and Treasurer of Vanda Pharmaceuticals. Prior to his years at Vanda, he was CFO and Treasurer of Advancis Pharmaceuticals (now MiddleBrook Pharmaceuticals). Steve is the Chairman of the Financial Executive Forum for the Technology Council of Maryland, a board member of the Washington D.C. chapter of Financial Executives International, and is a steering committee member for the Baltimore - Washington Area Association of Bioscience Financial Officers. Steve is a certified public accountant and earned his bachelor's degree in accounting from the University of Illinois and he holds a MBA from University of Chicago Graduate School of Business.
Sentiment: Strong Buy
alot of experience, perfect fit.
Innocoll is a privately held international biopharmaceutical company focused on targeted drug delivery primarily in the areas of biodegradable surgical implants and topically applied healthcare products.
Senseonics is developing transformative glucose monitoring products that are intended to enable people with diabetes to confidently live their lives with ease. Utilizing breakthrough fluorescence sensing technology, the Senseonics system is being designed to be the first fully implantable continuous glucose monitoring system that is highly accurate and stable throughout its long sensor life.
Sentiment: Strong Buy