Fibrocell Science, Inc. Names David Pernock Chief Executive Officer
EXTON, Pa., February 2, 2010 -- Fibrocell Science, Inc. (OTCBB: FCSC), a biotechnology company focused on the development of regenerative cell therapy for aesthetic, medical and scientific applications, announced today that David Pernock, Chairman of the Board of Directors, has been named Chief Executive Officer (CEO), effective immediately. Pernock most recently served as Senior Vice President (SVP), Pharmaceuticals, Vaccines (Biologics), Oncology, Acute Care and HIV at GlaxoSmithKline. He joined Fibrocell's Board of Directors last September.
"I'm pleased to take on the role of Fibrocell's CEO during this pivotal period for the company and our lead investigational cell therapy LavivTM (azficel-T) ," said Pernock. "We are excited about the potential for this therapy as we continue to address the U.S. Food & Drug Administration's (FDA) requests as outlined in its complete response letter to our March 2009 biologics license application for Laviv's use in the treatment of moderate to severe nasolabial fold wrinkles."
Mr. Pernock takes on the role of Fibrocell Science's CEO with extensive leadership experience in healthcare sales and commercialization, building business units, partnerships, and brands at GlaxoSmithKline. During a long career at the multinational pharmaceutical company that culminated with his role as SVP, Mr. Pernock was promoted numerous times to levels of increasing responsibility including Vice President of Marketing, Pharmaceuticals; Vice President of Sales and Marketing, Oncology; Vice President of Managed Care; and, Vice President of Sales. Mr. Pernock holds a B.S. in Business Administration from Arizona State University. He is a director of Martek Biosciences Corporation and serves in many philanthropic organizations.
"David's proven history of delivering results across many varied corporate functions makes him an asset to Fibrocell Science as a CEO," said Declan Daly, Fibrocell Science, Inc. Chief Operating Officer and Chief Financial Officer. "He has had a positive impact on the leadership team and throughout the company as Chairman, and we welcome his broader role within our organization."
1The FDA is currently evaluating a proposed brand name, LavivTM.
About Fibrocell Science, Inc.
Fibrocell Science, Inc. (OTC Bulletin Board: FCSC) is a biotechnology company focused on the development of regenerative cell therapy for aesthetic, medical and scientific applications. Fibrocell Science is committed to advancing the scientific, medical and commercial potential of autologous skin and tissue, as well its innovative cellular processing technology and manufacturing excellence. For additional information, please visit www.fibrocellscience.com.
Forward Looking Statements
All statements in this press release that are not based on historical fact are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements in this press release include, without limitation, the ability of the Company to complete the histopathology study and provide to the FDA the requested data on a timely basis. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Company's control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under Item 1A "Risk Factors" in the Company's Annual Report on Form 10-K for the year ended December 31, 2008, as updated in "Item 1A. Risk Factors" in the Company's Quarterly Reports on Form 10-Q filed since the annual report. The Company operates in a highly competitive and rapidly changing environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statements. Readers are also urged to carefully review and consider the other various disclosures in the Company's public filings with the SEC.