Lineage Cell Therapeutics Announces Change to Executive Team
January 20 2021 - 3:18PM
Business Wire
Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX),
a clinical-stage biotechnology company developing allogeneic cell
therapies for unmet medical needs, today announced that Brandi
Roberts, Chief Financial Officer, provided notice of her
resignation on January 15th, 2021, in order to accept a leadership
position at another company. Ms. Roberts has committed to providing
consulting services to Lineage to ensure an orderly and smooth
transition to the Company’s new Chief Financial Officer. Mr. Brian
Culley, Lineage’s Chief Executive Officer, will serve as Interim
Chief Financial Officer until a new Chief Financial Officer has
been appointed. Lineage has commenced a process to identify
qualified candidates for the position.
“On behalf of the entire Lineage management team and our
shareholders, I would like to thank Brandi for her leadership and
many contributions during her tenure,” stated Brian M. Culley,
Lineage CEO. “Brandi played an integral part in helping Lineage to
restructure our operations, reset priorities, and transition into a
leading allogeneic cell transplant therapy company. Brandi’s
dedication helped place Lineage in a strong position, operationally
and financially, helping us to be well-positioned for further
growth and reach new milestones in the months and years ahead. We
understand her desire for new challenges and wish her the very best
of success.”
Brandi Roberts added, “I am incredibly proud of what the team
has been able to achieve over the past two years. I believe
strongly in the science that supports Lineage’s cell therapy
pipeline and will continue to follow the Company’s progress in
bringing the promises of cell therapy into clinical reality.”
About Lineage Cell Therapeutics, Inc.
Lineage Cell Therapeutics is a clinical-stage biotechnology
company developing novel cell therapies for unmet medical needs.
Lineage’s programs are based on its robust proprietary cell-based
therapy platform and associated in-house development and
manufacturing capabilities. With this platform Lineage develops and
manufactures specialized, terminally differentiated human cells
from its pluripotent and progenitor cell starting materials. These
differentiated cells are developed to either replace or support
cells that are dysfunctional or absent due to degenerative disease
or traumatic injury or administered as a means of helping the body
mount an effective immune response to cancer. Lineage’s clinical
programs are in markets with billion dollar opportunities and
include three allogeneic (“off-the-shelf”) product candidates: (i)
OpRegen®, a retinal pigment epithelium transplant therapy in Phase
1/2a development for the treatment of dry age-related macular
degeneration, a leading cause of blindness in the developed world;
(ii) OPC1, an oligodendrocyte progenitor cell therapy in Phase 1/2a
development for the treatment of acute spinal cord injuries; and
(iii) VAC, an allogeneic dendritic cell therapy platform for
immuno-oncology and infectious disease, currently in clinical
development for the treatment of non-small cell lung cancer. For
more information, please visit www.lineagecell.com or follow the
Company on Twitter @LineageCell.
Forward-Looking Statements
Lineage cautions you that all statements, other than statements
of historical facts, contained in this press release, are
forward-looking statements. Forward-looking statements, in some
cases, can be identified by terms such as “believe,” “may,” “will,”
“estimate,” “continue,” “anticipate,” “design,” “intend,” “expect,”
“could,” “plan,” “potential,” “predict,” “seek,” “should,” “would,”
“contemplate,” project,” “target,” “tend to,” or the negative
version of these words and similar expressions. Such statements
include, but are not limited to, statements relating to Lineage’s
potential growth. Forward-looking statements involve known and
unknown risks, uncertainties and other factors that may cause
Lineage’s actual results, performance, or achievements to be
materially different from future results, performance or
achievements expressed or implied by the forward-looking statements
in this press release, including risks and uncertainties inherent
in Lineage’s business and other risks in Lineage’s filings with the
Securities and Exchange Commission (the SEC). Lineage’s
forward-looking statements are based upon its current expectations
and involve assumptions that may never materialize or may prove to
be incorrect. All forward-looking statements are expressly
qualified in their entirety by these cautionary statements. Further
information regarding these and other risks is included under the
heading “Risk Factors” in Lineage’s periodic reports with the SEC,
including Lineage’s Annual Report on Form 10-K filed with the SEC
on March 12, 2020 and its other reports, which are available from
the SEC’s website. You are cautioned not to place undue reliance on
forward-looking statements, which speak only as of the date on
which they were made. Lineage undertakes no obligation to update
such statements to reflect events that occur or circumstances that
exist after the date on which they were made, except as required by
law.
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version on businesswire.com: https://www.businesswire.com/news/home/20210120005707/en/
Lineage Cell Therapeutics, Inc. IR Ioana C. Hone
(ir@lineagecell.com) (442) 287-8963
Solebury Trout IR Gitanjali Jain Ogawa
(Gogawa@troutgroup.com) (646) 378-2949
Russo Partners – Media Relations Nic Johnson or David
Schull Nic.johnson@russopartnersllc.com
David.schull@russopartnersllc.com (212) 845-4242
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