Prescience Point nominates four members to MiMedx board of directors
Prescience Point Capital Management announced that it has nominated a slate of four candidates for election to the MiMedx Group board of directors at the company's upcoming annual meeting, scheduled to be held on June 17 Prescience Point, together with its director nominees, owns approximately 9.98% of the common stock of MiMedx. Prescience Point added that it is "monitoring the litigation in Florida and reserves its right to either increase or decrease its slate depending on the number of directors that will ultimately stand for election at the Annual Meeting." Prescience Point's nominees are Kathleen Behrens Wilsey, Richard Barry, Melvin Keating and Todd Newton. In a letter to shareholders, Prescience Point said, "We believe the potential for MiMedx's future is exciting as a biopharmaceutical company pioneering highly-effective, innovative products for wound care applications at a time when the healthcare marketplace is desperate for breakthrough solutions that deliver effective care at a reasonable cost. Yet, this potential has been jeopardized by years of ineffective oversight by the Board, in addition to alleged wrongdoing by former members of MiMedx's management, which has led to alleged accounting irregularities, severe operational challenges, regulatory investigations and corporate instability."