Axogen, Inc. (NASDAQ: AXGN), a global leader in developing and marketing innovative surgical solutions for peripheral nerve injuries, is pleased to announce the appointment of Marc Began as Executive Vice President and General Counsel. Mr. Began will join the executive leadership team, reporting to Karen Zaderej, Chairman, CEO and President, and will be responsible for all legal, business development, and compliance activities for Axogen. Effective March 20, 2023, Mr. Began will succeed Brad Ottinger, General Counsel and Chief Compliance Officer. We are excited for Mr. Began to bring his knowledge and expertise to the Axogen team and look forward to his leadership and guidance.
Ms. Zaderej expressed her gratitude for Brad’s valuable contributions to Axogen and welcomed Marc to the team with open arms. She emphasized that Marc’s advisory background and extensive legal expertise in the biotechnology sector will be an invaluable asset to the team and an ideal fit.
For over two decades, Marc Began has provided legal counsel to pharmaceutical, medical device, and biotechnology companies. Most recently, he was Executive Vice President, General Counsel, and Secretary of Abiomed, until its acquisition by Johnson & Johnson. Additionally, Began has held various positions such as Vice President of Intellectual Property with Boehringer Ingelheim and Assistant Chief Intellectual Property Counsel with Novo Nordisk. Even prior to those roles, he was an associate at the law firms Sullivan & Cromwell and White & Case, where he handled litigation, intellectual property, corporate transactions, regulatory, and compliance matters. With a wealth of experience across a variety of industries, Began continues to be a valuable asset to the legal profession.
I am thrilled to be joining Axogen, a company with an impressive history and product portfolio that provides revolutionary solutions to patients suffering from peripheral nerve injuries. I look forward to working with the team and contributing to the success of the company.
Mr. Began is a man of many talents, having earned a Bachelor of Science degree in mechanical engineering from Rensselaer Polytechnic Institute and a Juris Doctor degree from Albany Law School at Union University. His dedication to furthering his education has provided him with the knowledge needed to excel in both the technical and legal fields.
The Company recently welcomed Marc Began and Jens Schroeder Kemp to their respective roles, and in recognition of this, they were granted inducement awards approved by the Compensation Committee of the Board of Directors in accordance with Nasdaq Stock Market Listing Rule 5635(c)(4). We are delighted to have them join our team and are sure that their contributions will be invaluable.
On March 1, 2023, Mr. Began was given an equity grant to reward and incentivize him for joining the Company. This grant included non-qualified stock options granting him the right to purchase 90,000 shares of the Company’s common stock at an exercise price of $8.16 per share, with the options lasting for 10 years and vesting over a four-year period. He was also awarded non-qualified restricted stock units representing 45,000 shares of the Company’s common stock, which vest over four years with 50% vesting after the second year and 25% of the total shares granted vesting every year thereafter for the next two years.
On March 1, 2023, Mr. Kemp was awarded a generous equity grant to incentivize his employment with the Company. The grant included 60,000 stock options with an exercise price of $8.16 per share and 10-year term, as well as 30,000 RSUs. Both the stock options and RSUs will vest over a four-year period, with 50% vesting after two years and the remaining shares vesting in 12.5% and 25% increments every six months and year thereafter, respectively.
Axogen is on a mission to restore quality of life to those with peripheral nerve damage or transection. Their innovative technologies and clinically proven, economically effective solutions are helping surgeons and healthcare providers bring back motor and sensory signals to patients all over the world. Every day, people suffer traumatic injuries or undergo surgical procedures that can affect their peripheral nerves, resulting in loss of muscle, organ function, and even feeling or pain. Thanks to Axogen, however, nerve function can be repaired and patients can experience a renewed sense of life.
Axogen’s pioneering platform for peripheral nerve repair offers a comprehensive range of innovative products designed to bridge severed peripheral nerves with minimal comorbidity. Their product range includes Avance Nerve Graft, an off-the-shelf processed human nerve allograft for bridging severed nerves; Axoguard Nerve Connector®, a porcine submucosa extracellular matrix (ECM) coaptation aid for tensionless repair of severed peripheral nerves; Axoguard Nerve Protector®, a porcine submucosa ECM product used to wrap and protect damaged peripheral nerves; and Axoguard Nerve Cap®, a porcine submucosa ECM product used to protect a peripheral nerve end and separate the nerve from its environment. This groundbreaking technology is available in the United States, Canada, Germany, the United Kingdom, Spain, South Korea, and several other countries.