MiMedx appoints CCO

Biopharmaceutical firm MiMedx Group has appointed Mark Graves as chief compliance officer (CCO).

In his new role, he will be responsible for providing direction and oversight of MiMedx's compliance program, including the company's regulatory and legal compliance matters related to the company's risk management, sales operations and financial reporting.

The board’s audit committee, with concurrence from the management, announced last month that the company's previously issued consolidated financial statements relating to each of the fiscal years ended December 31, 2012, 2013, 2014, 2015 and 2016 and each of the interim periods ended March 31, June 30 and September 30, 2017 should be restated.

Earlier this month, the board detailed actions it had taken to promote accountability and strengthen oversight and its support for management in developing and implementing measures to improve MiMedx's accounting, corporate compliance and internal control practices. These initiatives include establishing an ethics and compliance committee and launching a review of Sarbanes-Oxley Act and other internal control policies and procedures.

As the company’s new CCO, Graves will report to Ed Borkowski, the company's executive vice president and interim CFO on a day-to-day basis. He will also report directly to the newly formed ethics and compliance committee.

Graves was most recently the US leader for the global patient experience and value function in the neurology division of UCB. From 2011 to 2015, he was UCB's deputy compliance officer. Before that, he was senior director in the office of ethics and compliance for the pharmaceutical products division of Abbott Laboratories, as well as deputy ethics and compliance officer for Takeda Pharmaceuticals North America and TAP Pharmaceutical Products.

‘We are implementing plans to improve our corporate compliance practices in order to ensure our company adheres to policies with the highest integrity, ethics and legal standards,’ interim CEO David Coles said in a statement. ‘Mark has a strong background in driving compliance strategy, risk awareness, training and crafting effective policy. He will help MiMedx apply and execute on best-in-class compliance standards that reflect our commitment to enhancing value for all stakeholders.’