BONESUPPORT™ Announces Appointment of Life Sciences Industry Veteran, Richard Davies, as New Chief Executive Officer

Mr. Davies Brings over 25 Years of Life Sciences Industry Experience to BONESUPPORT™

Current Chief Executive Officer, Lloyd Diamond, to Transition to Role of Chief Business Officer

Lund, Sweden, (PRNEWSWIRE) January 22, 2016 – BONESUPPORT™, an emerging leader in both injectable bone substitutes and innovative drug eluting bone scaffold technology for orthopedic trauma, bone infections and instrument augmentation related to orthopedic surgery, announced today that the Company has appointed Richard Davies as BONESUPPORT™’s new Chief Executive Officer, effective immediately. Mr. Davies is a senior commercial leader in the life sciences industry with 25 years of global experience in all aspects of sales / marketing and country / regional leadership, a track record of devising and executing growth strategies and delivering successful results in complex situations.

BONESUPPORT™’s current Chief Executive Officer, Lloyd Diamond, will transition to the role of Chief Business Officer, effective immediately. Mr. Diamond will re-locate back to the U.S., establishing an executive level presence for the Company’s largest market. During his time with BONESUPPORT™, Mr. Diamond secured an important distribution agreement in the U.S. with the world’s largest orthopedic market player, Zimmer Biomet, and transformed the Company from a Research and Development organization to a fully commercial group, with more than 20,000 CERAMENT™ procedures performed worldwide.

“I am proud of the transition BONESUPPORT™ has made from an R&D organization to a global commercial company in the four years I have had the pleasure of serving as CEO,” said Mr. Diamond. “My new role as Chief Business Officer will allow me to focus on further driving CERAMENT™ commercial growth, particularly in the U.S. market.”

Mr. Davies previously spent nearly four years at Hospira, where he served as Chief Commercial Officer. While at Hospira, he drove growth, globalization and modernization across the business. Mr. Davies’ efforts led the company to an acceleration of revenue growth to 12% per year. Hospira was acquired by Pfizer at the end of 2015. Prior to Hospira, Mr. Davies spent nine years in increasingly senior leadership positions at Amgen in Europe, Australia and the U.S. His roles encompassed a start up of clinical and commercial operations in CEE, leadership of Australia and New Zealand and leadership of the U.S. Inflammation sales group, commercializing Enbrel, the most prescribed biologic medicine in the U.S. at that time. His most recent position at Amgen was General Manager, Japan and Asia Pacific.  Mr. Davies began his career at Eli Lilly, spending 13 years in increasingly senior positions.

“First, on behalf of the entire Board, I’d like to thank Lloyd for his dedication and numerous achievements as BONESUPPORT™’s CEO over the past four years,” said Oern R. Stuge, M.D., BONESUPPORT™’s Chairman of the Board. “We are delighted to welcome Richard to BONESUPPORT™. His vast pharmaceutical experience will be key to leveraging the drug eluting capabilities of CERAMENT™. I look forward to working closely with Richard as we focus on the many opportunities ahead of BONESUPPORT™ in the coming years.”

“I am pleased to be joining BONESUPPORT™ as CEO at such a critical juncture in the Company’s history,” said Mr. Davies. “The technology BONESUPPORT™ has developed offers important health benefits to patients and represents significant upside value potential for investors. Lloyd has done a tremendous job in advancing the Company and I look forward to working with him and the team to continue to accelerate this growth.”

Mr. Davies is currently Chairman of the Board of Alvotech Iceland and has previously served on the Board of Zydus Hospira Oncology Products Ltd., and of several trade associations in Poland and Australia. He holds a B.Sc. in Applied Chemistry from Portsmouth University, and an MBA from Warwick Business School.

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