Anika Therapeutics Names Board Member Dr. Cheryl Blanchard as Interim CEO
Anika Therapeutics, Inc. (NASDAQ: ANIK) today announced that Dr.
Cheryl Blanchard, a member of the Company’s Board of Directors
since August 2018, has been named interim Chief Executive Officer,
effective immediately, while the Board continues its search to
identify a new CEO following the recent passing of Joseph Darling.
In connection with Dr. Blanchard’s appointment, the previously
announced interim Office of the President has been dissolved.
“We are pleased that Dr. Blanchard, a seasoned executive who has
previously served as a biotech President and CEO, has agreed to
step in as our interim CEO as we search for Anika’s next leader,”
said Dr. Joseph Bower, Chairman of Anika's Board of Directors.
“With Dr. Blanchard’s experience, as well as her service on our
Board since August 2018, we expect this to be a smooth transition.
Given her experience in leading orthopaedic device, joint
preservation and restoration businesses, we are fortunate to be
able to call on her to help build on Anika’s strong foundation and
continue its evolution into a leader in joint preservation and
restoration. We are confident in Anika’s prospects and the strong
and deep leadership team we have in place as we continue to enhance
value for our shareholders, customers and other stakeholders.”
“We are all saddened by Joe’s sudden passing, but we also share
a commitment to carrying out the initiatives crafted by him and the
rest of the executive team and Board. I step into this
interim role confident in the team’s ability to continue the
successful execution of Anika’s five-year strategic plan,” said Dr.
Blanchard. “Since joining the Board, I have developed a deep
appreciation for the Company’s proprietary offerings and
exceptional talent. Anika is well-positioned in its markets and has
significant growth prospects. I look forward to leveraging my past
experiences and collaborating with the team to maintain the high
level of operating discipline while solidifying an expanding
position and share in the $7 billion sports and regenerative
The Company plans to issue its fourth-quarter and full-year 2019
financial results after the close of the market on February 20,
2020 and will hold its investor conference call on the same day,
February 20, 2020, at 5:00 p.m. ET to discuss its financial
results, business highlights, and outlook.
About Cheryl R. Blanchard, Ph.D.Dr. Blanchard
joined the Board of Directors of Anika Therapeutics in August 2018.
She served as President and Chief Executive Officer of Microchips
Biotech, Inc., a venture-backed biotechnology company developing
regenerative medicine and drug delivery products, from 2014 until
its sale to Daré Bioscience, Inc. in November 2019. From 2000 to
2012, she served in various officer positions of Zimmer, Inc. (now
Zimmer Biomet), a medical device company focused on musculoskeletal
products, including as the Senior Vice President, Corporate Chief
Scientific Officer and General Manager of its Biologics Business.
She was also a member of Zimmer’s executive committee and founded,
built and led Zimmer’s Joint Preservation/Regenerative Medicine
business. Prior to joining Zimmer, Dr. Blanchard built and led the
medical device practice at Southwest Research Institute. Dr.
Blanchard received her M.S. and Ph.D. in Materials Science and
Engineering at the University of Texas at Austin and received her
B.S. in Ceramic Engineering at Alfred University. Dr. Blanchard is
a member of the National Academy of Engineering.
Until her appointment as Interim Chief Executive Officer, Dr.
Blanchard was serving as a member of Anika’s Compensation Committee
and Governance and Nominating Committee. She has served as a
director of Neuronetics (NASDAQ: STIM) since February 2019 and a
director of Daré Bioscience, Inc. (NASDAQ: DARE) since November
2019. Dr. Blanchard also serves on the Board of a privately held
company in the life sciences industry.
About Anika Therapeutics, Inc.Anika
Therapeutics, Inc. (NASDAQ: ANIK) is a global, integrated
biomedical joint preservation and regenerative therapies company
based in Bedford, Mass. Anika is committed to delivering therapies
to improve the lives of patients across a continuum of care from
osteoarthritis pain management to joint preservation and
restoration. The company has more than two decades of global
expertise commercializing more than 20 products based on its
proprietary hyaluronic acid (HA) technology platform. For more
information about Anika, please visit
Forward-Looking StatementsThis press release
includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934, as amended, concerning, but not limited to,
the establishment of an Office of the President and the management
leadership structure of the Company. The Securities and Exchange
Commission ("SEC") encourages companies to disclose forward-looking
statements so that investors can better understand a company’s
future prospects and make informed investment decisions.
Forward-looking statements are subject to risks and uncertainties,
many of which are outside our control, which could cause actual
results to differ materially from these statements. Therefore, you
should not rely on any of these forward-looking statements.
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future events and trends and that do not relate to historical
matters. All statements other than statements of historical facts
included in this press release regarding our strategies, prospects,
financial condition, operations, costs, plans, and objectives are
forward-looking statements. Please refer to the factors set forth
under the heading "Risk Factors" in the Company’s Annual Report on
Form 10-K for the year ended December 31, 2018, filed with the SEC,
as may be amended or supplemented in subsequently filed Quarterly
Reports on Form 10-Q for important factors that we believe could
cause actual results to differ materially from those in our
forward-looking statements. Any forward-looking statement made by
us in this press release is based only on information currently
available to us and speaks only as of the date on which it is made.
We undertake no obligation to publicly update any forward-looking
statement, whether written or oral, that may be made from time to
time, whether as a result of new information, future developments,
For Investor Inquiries: Anika Therapeutics,
Inc. Sylvia Cheung, 781-457-9000 Chief Financial
For Media Inquiries: W2O Group Jeremy Berrington,