PRINCETON, N.J.--(BUSINESS WIRE)--Derma Sciences, Inc. (Nasdaq:DSCI), a tissue regeneration company focused on advanced wound and burn care, announces the appointment of Russell Olsen as President of Advanced Wound Care. Mr. Olsen is President and Chief Executive Officer of BioD, LLC, a regenerative medicine products company Derma Sciences acquired earlier this month.
“I am delighted Russ Olsen is expanding his role on our executive team from head of our BioD subsidiary to President of Advanced Wound Care, our largest, fastest growing and highest margin business segment,” commented Stephen T. Wills, Executive Chairman and Interim Principal Executive Officer of Derma Sciences. “Having worked closely together over the past six months, I have seen many instances where Russ demonstrated his exceptional experience encompassing the tissue regeneration, wound care and pharmaceutical industries. He is an accomplished sales and marketing executive with a proven track record of building successful companies, launching and growing brands, and creating value for shareholders.”
Russell Olsen joined BioD in 2013 as Chief Operating Officer and was named President and Chief Executive Officer in 2014. BioD is engaged in the development and commercialization of novel, proprietary products derived from placental/birth tissues for use in a broad range of clinical applications including orthopedic, spine and ophthalmic channels. He has more than 25 years of executive management, sales and marketing experience in the medical and dental industries, having served as President of both Straumann and Keystone Dental, two leading dental implant companies. Mr. Olsen acquired executive management experience from Fortune 500 companies Bristol-Myers Squibb and Smith & Nephew, and also served as Chief Executive Officer of CloudDDS, a dental technology company.
Mr. Olsen said, “I look forward to working with the Derma Sciences executive leadership team and all Derma Sciences and BioD employees in my new role. I am committed to the continued transformation of Derma Sciences into an innovative, customer-centric advanced wound care company focused on delivering exceptional service and clinically differentiated products to our customers and the patients they serve, and increasing shareholder value.”
About BioD, LLC
Based in Memphis, Tenn., BioD, a wholly-owned subsidiary of Derma Sciences, Inc., was incorporated in 2005 to focus on developing allografts from placental tissue to aid in wound healing. It has more than 25 U.S. patents issued and pending covering its novel products, proprietary processing techniques and the clinical use of its products. Its products are used in a broad range of clinical applications including the treatment of complex chronic wounds, acute wounds and localized areas of injury on inflammation. Its products are also used for filling soft tissue defects or voids. The BioD products are manufactured using its proprietary CryoPrime and DryFlex processing technology. BioD also has an active research and development program and has seven clinical trials underway and one study published in a peer-reviewed journal.
About Derma Sciences, Inc.
Derma Sciences is a tissue regeneration company focused on advanced wound and burn care. It is engaged in the development and commercialization of novel proprietary regenerative products derived from placental/birth tissues for use in a broad range of clinical applications including the treatment of complex chronic wounds, acute wounds and localized areas of injury or inflammation, in addition to filling soft tissue defects or voids. The Company also markets TCC-EZ®, a gold-standard total contact casting system for diabetic foot ulcers. Derma Sciences’ MEDIHONEY® product line is the leading brand of honey-based dressings for the management of wounds and burns. The product has been shown in clinical studies to be effective in a variety of indications. Other novel products introduced into the $14 billion global wound care market include XTRASORB® for better management of wound exudate, and BIOGUARD® for barrier protection against microbes and other contaminants. The Company also offers a full product line of traditional dressings. For more information, please visit www.dermasciences.com.
