SAN DIEGO -- (BUSINESS WIRE) -- Cytori Therapeutics’ (NASDAQ: CYTX) Board of Directors has appointed David M. Rickey to serve as the Chairman of the Board. Mr. Rickey has served on Cytori’s Board as a Director for more than 13 years, and he also serves as the Chairman of the Compensation Committee of the Board. Lloyd H. Dean will continue to serve as an independent member of the Company’s Board of Directors, and as a member of the Governance and Nominating Committee.
“Cytori’s cell therapy platform has the potential to bring about an entirely new class of therapeutics that are innovative and cost-effective,” said Mr. Rickey. “In the role as chair, my priorities will be to represent the interests of our shareholders and to help guide Cytori’s growth as it aims to become a leading independent global biotechnology organization.”
“I look forward to continuing my service with Cytori Therapeutics and guiding their future success,” said Mr. Dean. Mr. Dean is a national leader in healthcare and serves as the President/CEO of Dignity Health, one of the nation’s five largest health systems. He requested the transition to accommodate the growing demands associated with ensuring that both Dignity Health and the nation are fully prepared for the January 2014 implementation of the Affordable Care Act.
“Mr. Rickey has played a critical role in Cytori’s growth by providing us with invaluable operational and governance experience during his 13 years as a director,” said Chris Calhoun, CEO of Cytori. “We are grateful to Mr. Dean for his leadership and service as Chairman for the past two years, and look forward his continued service to Cytori and our shareholders into the future.”
David M. Rickey has served as a Director of the Company since November 1999. Mr. Rickey was President and Chief Executive Officer of Applied Micro Circuits Corporation (AMCC) from February 1996 to March 2005. Mr. Rickey served on the Board of Directors of AMCC from February 1996 to March 2005, and as its Chairman of the Board from August 2000 to March 2005. Mr. Rickey also served as a Director of AMI Semiconductor, Inc. from 2000 to 2006 and was a Director of Netlist, Inc. from 2005 to 2008, as well as several private technology companies. He holds a B.S. from Marietta College, a B.S. from Columbia University and an M.S. from Stanford University.
Cytori Therapeutics is developing cell therapies based on autologous adipose-derived regenerative cells (ADRCs) to treat cardiovascular disease and other medical conditions. Our scientific data suggest ADRCs improve blood flow, moderate the inflammatory response and keep tissue at risk of dying alive. As a result, we believe these cells can be applied across multiple “ischemic” conditions. These therapies are made available to the physician and patient at the point-of-care by Cytori’s proprietary technologies and products, including the Celution® System product family. www.cytori.com