Prescience Investment Engages in Discussions with MiMedx Group
January 13, 2021 at 09:43 pm IST
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On January 13, 2021, Prescience Investment Group LLC announced that it has, from time to time, engaged in, and expects to continue to engage in, discussions with members of management and the board of directors of MiMedx Group, Inc., other current or prospective shareholders, industry analysts, existing or potential strategic partners or competitors, investment and financing professionals, sources of credit and other third parties. Prescience Investment expressed its view that the Company’s management and Board have ineffectively communicated the value of the Company’s Amniofix injectable product to the investment community, which Prescience Investment views has resulted in the chronic undervaluing of the Company’s equity by the public markets. Prescience Investment also expressed its view that the value of the Company’s pipeline of clinical trials for Amniofix far exceeds that of the Company’s advanced wound care business. Prescience Investment added that it intends to engage in discussions with management and the Board to bring about positive changes in the Company’s messaging to the investment community.
MiMedx Group, Inc. is a placental biologics company. The Company is engaged in developing and distributing placental tissue allografts with patent-protected, processes for multiple sectors of healthcare. Its product portfolio categories include Wound Care Products, and Surgical and Other Products. Its Wound Care Products include EPIFIX, EPICORD and EPIEFFECT, which are all marketed for external use, such as in advanced wound care applications. Its Surgical and Other product offering includes AMNIOFIX, AMNIOCORD and AMNIOEFFECT, which are positioned for use in a variety of applications and surgical settings, including lower extremity repair, plastic surgery, vascular surgery and multiple orthopedic repairs and reconstructions. The Company's platform technologies include tissue allografts derived from the human placental membrane, tissue allografts derived from the human umbilical cord, and a particulate extracellular matrix derived from the human placental disc.