Exhibit 99.1
Miromatrix Announces CEO Jeff Ross, Ph.D. will Expand His Role by Resuming Leadership of R&D
EDEN PRAIRIE, MN, June 1, 2023 – Miromatrix Medical Inc. (NASDAQ: MIRO), a life sciences company pioneering a novel technology for bioengineering fully transplantable organs to help save and improve patients’ lives, today announced that Miromatrix and John Barry have mutually agreed to end his employment as Vice President of Research and Development ("R&D") effective on or around June 13, 2023, and that Jeff Ross, Ph.D., Chief Executive Officer, will assume leadership responsibilities for the R&D organization.
"This transition does not impact our previously stated timelines and milestones, and we remain on pace to submit a response to the Food and Drug Administration’s ("FDA") clinical hold letter in the second half of 2023 relating to our miroliverELAPtm IND application," said Jeff Ross, Ph.D., Miromatrix CEO. "This is a role that I held for several years prior to becoming CEO and I look forward to working closely again with our talented team of scientists at this important time in our company’s history."
About Miromatrix
Miromatrix Medical Inc. is a life sciences company pioneering a novel technology for bioengineering fully transplantable human organs to help save and improve patients' lives. The Company has developed a proprietary perfusion technology platform for bioengineering organs that it believes will efficiently scale to address the shortage of available human organs. The Company's initial development focus is on human livers and kidneys. For more information, visit miromatrix.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts are forward looking statements, including statements regarding the potential timing of the response to the FDA’s clinical hold letter relating to the filing of the IND application for our MiroliverELAP product candidate. In some cases, you can identify forward-looking statements by terms such as "may," "will," "should," "expect," "plan," "anticipate," "could," "outlook," "guidance," "intend," "target," "project," "contemplate," "believe," "estimate," "predict," "potential," "continue," "remain,” or "on pace" or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. The forward-looking statements in this press release are only predictions and are based largely on our current business plans, expectations, and projections about future events and financial trends that we believe may affect our business, financial condition, and results of operations. These forward-looking statements speak only as of the date of this press release and are subject to a number of known and unknown risks, uncertainties and assumptions, including, but not limited to, our history of significant losses, which we expect to continue; our limited history operating as a commercial company; our expectations with respect to the regulatory pathway of our product candidates, our ability to obtain regulatory approvals for such product candidates, and the anticipated effect of delays in obtaining any such regulatory approvals; our expectations with respect to preclinical and clinical trial plans for our product candidates, the results of
