Organovo (ONVO) Names Two New Directors

August 18, 2016 8:06 AM EDT

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Organovo Holdings, Inc. (Nasdaq: ONVO) announced that its board of directors has appointed two new members. Mark Kessel, co-founder and partner of Symphony Capital LLC, and Richard Maroun, executive partner at Frazier Healthcare Partners, will join Organovo’s board, effective today. The appointments increase the number of Organovo directors to seven.

“Mark and Rick bring tremendous capital markets, corporate governance, operational and strategic management expertise to our organization,” said Keith Murphy, chairman and chief executive officer, Organovo. “Their leadership experience across the life sciences sector adds to the strength of our already outstanding board, and I’m confident they’ll make significant contributions as we enter our next phase of commercial growth and build value for our shareholders. I’m grateful for their willingness to join the board at such an important time in our organizational development, as well as the ongoing support from all of our directors.”

With their addition to the board, Kessel will become a member of the Nominating and Corporate Governance Committee and the Science and Technology Committee, while Maroun will join the Audit and Compensation Committees.

Mark Kessel is a partner of Symphony Capital, LLC, a private equity firm he co-founded in 2002 that invests in biopharmaceutical company clinical development programs. He is also Of Counsel at Shearman & Sterling and a member of the firm’s capital markets group. Previously, from 1971 to 2001, Mr. Kessel held various roles at Shearman & Sterling, including as managing partner leading the international law firm’s day-to-day operations. He helped build the firm, serving as a leader in the healthcare, biopharmaceutical, agricultural biotech, high-tech, and financial services practices. He also established the firm’s San Francisco office, serving as its managing partner and turning it into the leader in M&A, capital markets, corporate governance, and intellectual property and licensing issues. Mr. Kessel has previously served on several public biopharmaceutical company boards.

Richard Maroun is an executive partner at Frazier Healthcare Partners, a private equity and venture capital firm specializing in healthcare-focused investments. Before joining Frazier in 2015, Maroun was senior vice president and general counsel of Aptalis Pharmaceuticals from 2012 to 2014. He has also held numerous senior executive roles for APP Pharmaceuticals, Abraxis BioScience and American BioScience Inc. Mr. Maroun has worked with major financial organizations and independent law firms, and has held both legal and financial positions with companies including Merrill Lynch, Deloitte & Touche and McDonough, Holland & Allen. Mr. Maroun currently serves on the board of Leiter’s Enterprises, a private portfolio company of Frazier Healthcare Partners, and the Board of Trustees of John Carroll University.

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