Anika Therapeutics Names Board Member Dr. Cheryl Blanchard as Interim CEO

BEDFORD, Mass., Feb. 12, 2020 (GLOBE NEWSWIRE) -- 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 medicine market.”

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.