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Rockwell Medical adds 2 directors

Biopharmaceutical company Rockwell Medical Inc. appointed Lisa Colleran and Benjamin Wolin to the board, effective March 7.

Wolin was also appointed as chairman of the board. He was co-founder and CEO of Everyday Health, a digital marketing and communication platform for consumers, doctors and healthcare companies, until it was acquired by JCOM in 2016 for nearly $500 million.

Colleran served as president, CEO and director of LifeCell Corp. from 2011 to 2013.

The company said it has reached a support agreement with Richmond Brothers, an investment adviser that is the beneficial owner of 10.8% of the company's stock. The agreement outlines Richmond Brothers' support for Rockwell's proposal to declassify its board, resulting in director terms of one year for all directors.

The proposal will be made to all shareholders at the upcoming annual shareholder meeting in June.

Additionally, the company said Patrick Bagley decided not to stand for re-election as director at the company's annual meeting of stockholders.

Rockwell Medical is a biopharmaceutical company targeting end-stage renal disease and chronic kidney disease with products for the treatment of iron replacement, secondary hyperparathyroidism and hemodialysis.