Regenerative medtech small cap Orthocell Ltd (ASX:OCC, OTC:ORHHF) revealed changes to its board of directors today.
Founding director retires
Professor Lars Lidgren, a founding director, is set to retire effective September 30, while director Leslie Wise will commence a temporary leave of absence for personal reasons, effective immediately.
Amid these changes, Orthocell remains in a strong position. The company aims to advance its commercial strategies for its nerve repair medical device and grow product sales with distribution partners BioHorizons and Device Technologies.
Orthocell chairman John Van Der Wielen expressed gratitude for Professor Lidgren’s work, saying:
“We would like to thank Professor Lars Lidgren for his valuable contributions to the company.
Pivotal role
“Lars has played a pivotal role in the formation of the company, development of its products and setting it up for ongoing success.
“Lars guided the company through the design of pre-clinical studies to first in-human trials, international regulatory approvals and global partnering of first products in market.
We understand Lars’ decision to step down from the board and wish him all the best in his retirement.”
Van Der Wielen also confirmed Wise's short-term departure: "We understand and support her need to take a short leave of absence at this time and look forward to her rejoining the Orthocell board."
Wise's absence reduces the board's current count to six directors: four non-executive directors and two executive directors.