BioCardia Announces the Appointment of Two New Board Members
October 02, 2019
SAN CARLOS, Calif. – BioCardia (Nasdaq: BCDA), a leader in the development of comprehensive solutions for cardiovascular regenerative therapies, today announced the appointment of experienced CEOs Jim Allen and Andrew Blank to its Board of Directors, effective October 1, 2019.
Mr. Allen is Chief Executive Officer and President of Sea Star, Inc., a real estate development company, and has served in that capacity since he founded the company in February 1989. He has founded multiple companies from concept to full operation involving the development of various technologies, patents, manufacturing processes, and sales, distribution and maintenance programs. Six of his ventures have resulted in sales to publicly-traded companies. He is a named inventor on 29 issued and pending patents. Mr. Allen studied business at Troy University and Auburn University at Montgomery.
Mr. Blank is President of National Brands, Inc., an investment group that was the largest Anheuser-Busch beer distributor in the world prior to divestiture of those operations, and has served in that capacity since March 1993. He also currently serves as President of three other companies: WareITis Technologies, developer of the foremost enterprise level content management software suite called Records Studio; Archive America, the country’s largest family-owned document storage firm; and Seaboard Warehouse Terminals, a provider of nationwide third-party logistics services. Mr. Blank holds a bachelor’s degree in business from the University of Miami.
“We will benefit from new blood on the Board and I look forward to working with our new Directors who are active investors in the company and excited by its prospects,” said BioCardia CEO Peter Altman. “Jim and Andrew join BioCardia at an exciting time as we enroll our pivotal CardiAMP Heart Failure Trial, explore new indications, and enhance our delivery systems. They are both experienced at leading companies to success and we expect to draw upon their experience and insights as we drive our therapies and products forward.”
These new board members replace two board members who have recently retired from the Company's Board, Thomas Quertermous, M.D. and Allan R. Tessler.
“I want to thank Tom and Allan for their service to BioCardia and expect them to benefit from our future success as continuing shareholders,” said Altman.
BioCardia, Inc., headquartered in San Carlos, California, is developing regenerative biologic therapies to treat cardiovascular disease. CardiAMP™ and CardiALLO™ cell therapies are the Company’s biotherapeutic product candidates in clinical development. The Company's current products include the Helix™ Biotherapeutic Delivery System and the Morph® steerable guide and sheath catheter portfolio, including the new AVANCE™ Steerable Introducer family. BioCardia also partners with other biotherapeutic companies to provide its Helix systems and clinical support to their programs studying therapies for the treatment of heart failure, chronic myocardial ischemia and acute myocardial infarction.
Forward Looking Statements:
This press release contains forward-looking statements that are subject to many risks and uncertainties. Forward-looking statements include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations. Such factors include, among others, the inherent uncertainties associated with developing new products or technologies, regulatory approvals, unexpected expenditures, the ability to raise the additional funding needed to continue to pursue BioCardia’s business and product development plans and overall market conditions. These forward-looking statements are made as of the date of this press release, and BioCardia assumes no obligation to update the forward-looking statements.
We may use terms such as “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “approximately” or other words that convey the uncertainty of future events or outcomes to identify these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained herein, we caution you that forward-looking statements are not guarantees of future performance and that our actual results, and the development of the industry in which we operate may differ materially from the forward-looking statements contained in this press release. As a result of these factors, we cannot assure you that the forward-looking statements in this press release will prove to be accurate. Additional factors that could materially affect actual results can be found in BioCardia’s Form 10-Q filed with the Securities and Exchange Commission on August 9, 2019, including under the caption titled “Risk Factors.” BioCardia expressly disclaims any intent or obligation to update these forward-looking statements, except as required by law.
David McClung, Chief Financial Officer
Michelle McAdam, Chronic Communications, Inc.
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