Miromatrix appoints Jim Douglas as CFO

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EDEN PRAIRIE, Minn., March 01, 2022 (GLOBE NEWSWIRE) — Miromatrix Medical Inc. (NASDAQ: MIRO), a life sciences company pioneering new technology to bioengineer fully transplantable organs to help save and improve the lives of patients, announced the appointment of Jim Douglas as the company’s new Chief Financial Officer (CFO) effective March 1, 2022. As Chief Financial Officer, Jim will lead Miromatrix’s finance organization and oversee all financial activities of the company. Mr. Douglas will succeed Brian Niebur, who will continue to serve Miromatrix as vice president of finance.

“On behalf of everyone at Miromatrix and our Board of Directors, I would like to thank Brian for his many contributions during his tenure as the company’s CFO, including his strong leadership during the IPO. of Miromatrix. It has played a critical role in enabling our growth and positioning us well for future financial stability,” said Jeff Ross, PhD, CEO of Miromatrix. “We appreciate his dedication and are delighted that he will continue to be part of the Miromatrix team.”

“It has been a privilege to serve as Chief Financial Officer of Miromatrix and to see the impact we are having in the fundamental transformation of bioengineered organs. I am proud to have been part of this important step,” said Brian Niebur. “It has been and will continue to be an honor to work alongside colleagues who are dedicated to bringing superior solutions that improve transplants to market.”

Mr. Douglas comes to the Miromatrix team with over 25 years of relevant professional experience in investment banking, industry and public accounting. Since 2005, Jim has worked at Piper Sandler in the Healthcare Investment Banking Group, advising biotechnology and medical technology companies on M&A and financing transactions, and providing a wide range strategic advice. At the time of his departure from Piper Sandler, Mr. Douglas was a managing director and the most senior investment banker on the biotechnology team. Prior to Piper Sandler, Mr. Douglas worked at Abbott Laboratories in the Corporate Financial Planning Division and Global Pharmaceutical Operations Division (now AbbVie). Prior to Abbott, he worked at PricewaterhouseCoopers, providing audit and transaction services. Mr. Douglas holds a degree in accounting from the University of Wisconsin-Milwaukee and an MBA specializing in analytical finance and marketing from the JL Kellogg School of Management at Northwestern University. He is also a chartered accountant.

“I am delighted to welcome Jim to Miromatrix. He brings an impressive track record with deep industry expertise to the Miromatrix team,” said Dr. Ross. “His extensive financial experience will be a great added value in directing our financial operations and will be essential as we drive Miromatrix into the next phase of growth and financial performance.”

“I am honored to join the company at such a crucial time in its development,” said Jim Douglas, Chief Financial Officer of Miromatrix. “Miromatrix continues to make significant progress towards eliminating the waiting list for bioengineered organ transplants, and I look forward to joining Jeff, Brian and the entire organization in executing the strategy. of the society.

About MiromatrixMiromatrix Medical Inc. is a life science company pioneering new technology for bioengineering fully transplantable human organs to help save and improve the lives of patients. The company has developed a proprietary infusion technology platform for bioengineered organs that it says will be effective in addressing the shortage of available human organs. The Company’s initial development is focused on human livers and kidneys. For more information, visit miromatrix.com.

Caution Regarding Forward-Looking StatementsThis 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 fact are forward-looking statements, including statements regarding our first-ever liver transplant obtained by bioengineering in a large animal. . In some instances, you can identify forward-looking statements by words such as “may”, “will”, “should”, “expect”, “plan”, “anticipate”, “could”, ” perspective”, “orientation”, “intend”, “target”, “project”, “contemplate”, “believe”, “estimate”, “predict”, “potential” or “continue” or the negative of these terms or other similar expressions, although not all forward-looking statements contain these words. The forward-looking statements contained in this press release are only predictions and are based largely on our current business plans, expectations and projections regarding future events and financial trends that we believe may affect our business, our 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 significant losses, which we expect to continue; our limited history of operating as a commercial company; our expectations regarding the regulatory path of our product candidates, our ability to obtain regulatory approvals for such product candidates and the anticipated effect of delays in obtaining such regulatory approvals; our expectations regarding preclinical and clinical trial plans for our product candidates, the results of such activities, and the safety and efficacy of our product candidates; our ability to commercialize our product candidates; our ability to successfully compete with larger competitors in our highly competitive industry; our ability to achieve and maintain adequate levels of coverage or reimbursement for any future products we may seek to market; our ability to successfully compete with larger competitors in our highly competitive industry; our expectations regarding our manufacturing capabilities; a pandemic, epidemic, or outbreak of an infectious disease in the United States or around the world, including an outbreak of the novel strain of coronavirus, COVID-19; product liability claims; our ability to establish and maintain intellectual property protection for our products, as well as our ability to operate our business without infringing the intellectual property rights of others; our ability to attract and retain senior management and key scientific personnel; and other important factors that could cause actual results, performance or achievements to differ materially from those expected or projected. For additional information identifying important factors that could cause actual results to differ materially from those anticipated in the forward-looking statements, please see the Risk Factors section of the company’s registration statement on Form S. -1 (File No. 333-256649), as amended, filed with the United States Securities and Exchange Commission and any additional risk disclosed in our quarterly reports on Form 10-Q and our current reports on Form 8-K. Except as expressly required by applicable securities laws, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

Investor contacts:Greg [email protected]

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Source: Miromatrix Medical Inc.

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