Cytori Therapeutics named Marc Hedrick to the position of CEO, after announcing the retirement of Christopher Calhoun from that position. Hedrick will also continue in his responsibilities as a director and president, a role he has had since 2004, the company said.
Hedrick is a former vascular, general and plastic surgeon with an M.D. from University of Texas Southwestern Medical School and an MBA from University of California, Los Angeles. He and his team at UCLA discovered stem and regenerative cells in human adipose tissue.
“This is a tremendous opportunity to guide Cytori and to advance the strategic vision to become the premier cell therapy company,” Hedrick said.
Calhoun founded the Cytori (Nasdaq: CYTX) in 1996. During a transition period, Calhoun will remain a director on Cytori’s board and will assume the position of managing director, the company said. Calhoun will focus on international business development until his retirement in July of 2014.
Cytori is developing cell therapies to treat cardiovascular disease and other medical conditions.