Velico Medical Appoints Frank Corvino, Roger Dodd and John Sedor to Board of Directors

BEVERLY , MA – January 6, 2015 – Velico Medical, Inc., a clinical-stage medical technology company whose mission is to improve the quality, availability and economics of human platelet and plasma transfusions, today announced that life sciences industry veterans, Frank Corvino, Roger Dodd, Ph.D., and John A. Sedor, have been appointed to its Board of Directors, effective immediately.

Commenting on the appointments, Bill Skillman, Velico’s Chairman, President and CEO “I am pleased to welcome Frank, Roger and John to the Board and look forward to working with them on our shared mission of transforming Velico from a promising start-up to a leading medical technology company helping to improve the lives of patients. They are each extraordinarily well-regarded within the industry, and I am confident they will help us advance our strategic transformation. I am excited about the exceptional opportunities ahead as we work to dramatically improve the efficacy, availability and logistics of platelets and plasma for transfusion, reduce healthcare costs, and ultimately, serve the patients who count on us.”

Mr. Corvino, Dr. Dodd and Mr. Sedor will join the company’s other seasoned directors who include: Mr. Skillman; Thomas P. Stossel, M.D., the American Cancer Society Clinical Research Professor of Medicine at Harvard Medical School, and Senior Physician in the Hematology Division at Brigham & Women’s Hospital; Robert W. Middleton, Managing Director of The Middleton Group Division of Source Capital Group and a co-founder of the Company ; and Rolf Kaelin, founder and Managing Director of Kaelin Management AG, a Swiss investment banking firm.

Frank A. Corvino is a seasoned healthcare executive who is President and Chief Executive Officer of Greenwich Hospital (a member of the Yale New Haven Health System) in Greenwich, Connecticut. Mr. Corvino intends to retire effective December 31, 2014. Mr. Corvino was named to his position in 1991, a few years after joining the hospital in 1988 as Senior Vice President and Chief Operating Officer. In addition to executive management of the hospital, Mr. Corvino led fund raising solicitations, raising over $300 million dollars. Under Mr. Corvino’s leadership, Greenwich Hospital has become a premier healthcare facility with a national reputation for clinical excellence, patient satisfaction and safety. Prior to joining Greenwich Hospital, Mr. Corvino was an executive vice president at Our Lady of Mercy Medical Center in the Bronx, N.Y. Mr. Corvino earned a B.S. in Pharmacy at Fordham University and an M.S. in Pharmacy Administration at St. John’s University. He serves on the s of the Connecticut Hospital Association; Greenwich Emergency Medical Services; HealthEquity, Inc., a publicly-traded healthcare finance technology company; the Connecticut Community Bank, N.A. and Cabrini of Westchester. Mr. Corvino has received numerous awards, including the Ellis Island Medal of Honor and the Malcolm T. MacEachern CEO Award, and has been honored by the Columbus Citizen’s Foundation and many other organizations.

Roger Y. Dodd, Ph.D. is an internationally acclaimed leader in the field of transfusion medicine and has significant experience and expertise in the area of biomedical research and development. Dr. Dodd recently retired as Vice President, Biomedical Research and Development at the Jerome H. Holland Laboratories of the American Red Cross. His tenure with the American Red Cross extended for more than 40 years. Dr. Dodd was responsible for American Red Cross research programs supporting its blood program. He has more than 175 publications and has edited three books on transfusion transmitted infections. He has been an Advisor to the World Health Organization and he serves on the editorial boards of Transfusion and Transfusion Medicine. Dr. Dodd is a past-president of the American Association of Blood Banks and currently serves on the Board of International Society of Blood Transfusion as Secretary General. He has received the Morten Grove-Rasmussen and Emily Cooley Memorial Awards from the AABB; a Tiffany Award from the American Red Cross; and the John Snow award from the American Public Health Association. Dr. Dodd holds a Bachelor of Science degree with Honors in Biochemistry from the University of Sheffield (England). He earned a Ph.D. in Immunology from George Washington University.

John A. Sedor has more than 30 years of proven leadership in the plasma, global pharmaceutical, biopharmaceutical, consumer product and generic drug industries. Mr. Sedor is recognized for his entrepreneurial leadership approach to turnaround and rapid growth environments, leveraging strategic creativity, consumer and professional customer insight, merger and acquisition experience and operational expertise. Prior to his current role as Chairman & Chief Executive Officer at Rodes Inc., Mr. Sedor most recently served as President, Chief Executive Officer and a Director of Cangene Corporation, one of the world’s leading biopharmaceutical companies in the development, manufacture and commercialization of therapies targeting infectious disease, hematology/oncology and transplantation. Under his leadership, Cangene was acquired by Emergent BioSolutions in February 2014. Prior to Cangene, he served as President, Chief Executive Officer and Director of CPEX Pharmaceuticals, Inc., a

specialty drug delivery pharmaceutical company, managing its spin-off from Bentley Pharmaceuticals, Inc. Prior to CPEX, he was President of Bentley Pharmaceuticals which expanded its nanotechnology programs and added more than 20 new product approvals in the European market under his leadership. In 1996, John created Centeon LLC to develop and commercialize plasma protein biotherapeutics. Other previous roles include President of Sandoz Inc. (now part of Novartis), and various senior positions at Verion, Rorer Pharmaceutical Co., Revlon Health Care Group and Armour Pharmaceutical Company. Mr. Sedor holds a Bachelor of Science in Pharmacy/Chemistry from Duquesne University and completed advanced training in marketing and strategy at Harvard University and the Kellogg Graduate School of Management.

About Velico Medical, Inc:

Velico Medical, Inc. is a private, clinical-stage company bringing forward disruptive technology in the transfusion medicine market. Velico’s products are designed to improve the quality, availability and economics of human platelet and plasma transfusions.

Velico is developing two proprietary technologies, V-TECHTM, a platelet protection system that is expected to be first-in-class and improve the management, use and clinical efficacy of platelets by addressing the problems associated with platelet deterioration in storage (the platelet storage lesion). Velico is also developing an instrument and disposable system which will enable blood centers to spray dry plasma vs. freezing it. Spray dried plasma is expected to significantly improve the availability of this life saving blood component where time to transfusion is a critical factor for patients (including first responders, the military and other emergency care providers.)

Velico’s spray dried plasma development is currently funded by the Biomedical Advanced Research and Development Authority (“BARDA”).

Contact:

Bill Skillman

President & Chief Executive Officer

978-232-8370

bskillman@velicomedical.com