Longeveron (NASDAQ: LGVN; LGVNR), a clinical-stage biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions such as hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease and Aging-Related Frailty, has issued a letter to its stockholders. The letter, from CEO Wa’el Hashad, contains a business update regarding the company’s development of its lead investigational product, Lomecel-B(TM), as well as steps taken to strengthen the board and executive team along with details regarding the current rights offering. The letter noted that Longeveron is involved in ongoing trials of Lomecel-B, a living cell product made from specialized cells isolated from the bone marrow of young healthy adult donors. The letter noted that ongoing trials are all progressing and nearing important clinical milestones, including key enrollment numbers, additional study locations and the commencement of dosing.
“To execute these compelling programs, over the last several weeks we have taken steps to strengthen Longeveron at both the board and executive leadership level,” said Longeveron CEO Wa’el Hashad in the stockholder letter. “In June, we announced the election of seasoned biotechnology and corporate management experts Khoso Baluch and Jeffrey Pfeffer to our board of directors, and I am pleased to join them on our board to serve in this capacity. We also announced the appointment of Lisa Locklear as our chief financial officer and Dr. Nataliya Agafonova as chief medical officer. Both Lisa and Nataliya have had distinguished careers in the bio-pharmaceutical industry, and we look forward to their guidance as we advance clinical development of Lomecel-B. . . . We believe [the] rights offering provides a balanced approach to raising capital necessary to fund clinical development of Lomecel-B while remaining cognizant not to dilute existing shareholders. We believe this is an opportunity to participate for all shareholders, and is an important step in fully realizing the potential of Lomecel-B and to generating long-term shareholder value.”
To view the full press release, visit https://ibn.fm/4PYxj
About Longeveron Inc.
Longeveron is a clinical-stage, biotechnology company developing regenerative medicines to address unmet medical needs. The company’s lead investigational product is Lomecel-B(TM), an allogeneic medicinal signaling cell (“MSC”) therapy product isolated from the bone marrow of young, healthy adult donors. Lomecel-B has multiple potential mechanisms of action encompassing provascular, proregenerative, anti-inflammatory, and tissue repair and healing effects with broad potential applications across a spectrum of disease areas. Longeveron is currently advancing Lomecel-B through clinical trials in three indications: hypoplastic left heart syndrome (“HLHS”), Alzheimer’s disease and Aging-Related Frailty. To learn more about the company, visit www.Longeveron.com.
NOTE TO INVESTORS: The latest news and updates relating to LGVN are available in the company’s newsroom at https://ibn.fm/LGVN
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