AVITA Medical Appoints Interim CFO

AVITA Medical, a global regenerative medicine company, announced that Dale A. Sander is resigning as chief financial officer (CFO) to spend more time with his family on the east coast, effective immediately. Tim Rooney, AVITA’s chief administrative officer, will assume the role of interim CFO until a comprehensive search can be completed. Tim previously served as CFO for AVITA from 2012 to 2017 before assuming his current role.
 
“We thank Dale for his service and contributions to AVITA over the past 18 months and wish him all the best,” said Dr. Mike Perry, CEO. “This year has proven to be transformational for AVITA as we continue the launch of our first product for the treatment of burns in the United States. Tim is well suited to assume the interim role of CFO. In addition to his deep financial expertise and previous experience as AVITA’s CFO, Tim is instrumental in our ongoing operational and strategic growth.”
 
Rooney joined AVITA Medical as CFO and chief operating officer (COO) in 2012, leading various key executive roles including interim CEO from 2013 to 2015. Prior to AVITA, Rooney was an executive at PDI Enterprises Inc., a pharmaceutical wholesale distributor, where he served as CFO/COO, and managed its revenue growth from $5 million to $430 million.

Rooney has degrees in business administration with an emphasis in finance and economics and has over 25 years of experience in C-level financial and operational management in the healthcare industry.
 
AVITA has retained an executive recruiting firm to commence a formal search for a permanent CFO.
 
AVITA Medical is a regenerative medicine company with a technology platform positioned to address unmet medical needs in burns, chronic wounds, and aesthetics indications. AVITA Medical’s patented and proprietary collection and application technology provides innovative treatment solutions derived from the regenerative properties of a patient’s own skin. The medical devices work by preparing a regenerative epidermal suspension (RES), an autologous suspension comprised of the patient’s skin cells necessary to regenerate natural healthy epidermis. This autologous suspension is then sprayed onto the areas of the patient requiring treatment.
 
AVITA Medical’s first U.S. product, the RECELL System, was approved by the U.S. Food and Drug Administration (FDA) in September 2018. The RECELL System is indicated for use in the treatment of acute thermal burns in patients 18 years and older. The RECELL System is used to prepare Spray-On Skin Cells using a small amount of a patient’s own skin, providing a new way to treat severe burns, while significantly reducing the amount of donor skin required. The RECELL System is designed to be used at the point of care alone or in combination with autografts depending on the depth of the burn injury. Data from randomized, controlled clinical trials conducted at major U.S. burn centers and real-world use in more than 7,000 patients globally, reinforce that the RECELL System is a significant advancement over the current standard of care for burn patients and offers benefits in clinical outcomes and cost savings. In international markets outside of Europe, AVITA Medical’s products are marketed under the RECELL System brand to promote skin healing in a wide range of applications including burns, chronic wounds and aesthetics. The RECELL System is TGA-registered in Australia and CFDA-cleared in China.