Longeveron Names Jerome Bailey Vice President of Business Operations

MIAMI, Sept. 15, 2022 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ: LGVN), a clinical stage biotechnology company developing regenerative medicines for unmet medical needs, today announced it has named Jerome Bailey as the company’s new vice president of business operations. He joins the company from Checkmate Pharmaceuticals (acquired by Regeneron), where he served as senior director of program management. Mr. Bailey brings to the company more than 30 years of operational leadership and program management experience in the biopharmaceutical industry, overseeing clinical trials from Phase 1 through Phase 4 across several therapeutic areas.

“As we continue to grow and evolve, building our pipeline of regenerative medicines, we are pleased to have someone of Jerome’s caliber and experience join our team,” said Chris Min, M.D., Ph.D., Interim Chief Executive Officer and Chief Medical Officer of Longeveron. “Jerome’s broad experience in portfolio management and clinical operations across multiple therapeutic areas makes him an invaluable addition to our team as we advance our lead medicinal signaling cell therapy product, Lomecel-B™, through clinical trials in three indications.”

“I am excited to join the Longeveron team,” said Mr. Bailey. “The company is poised for a period of tremendous growth with Phase 2 trials in Alzheimer’s and Hypoplastic Left Heart Syndrome (HLHS) underway, and the anticipated initiation of the Phase 2 Aging Frailty trial in Japan. I look forward to working with the exceptional team at Longeveron to continue to advance the company’s robust pipeline through upcoming clinical milestones.”

Prior to joining Longeveron, Mr. Bailey was the senior director of program management at Checkmate Pharmaceuticals where he led cross-functional project teams driving multiple oncology programs from candidate selection through clinical development. Before Checkmate Pharmaceuticals, he held roles of increasing responsibility at Parexel, where he led multiple global development programs across several therapeutic areas, including in oncology, hematology, pulmonary, and pediatric rare diseases. He also facilitated the product submission strategy across several major global markets for schizophrenia and hypertension. Prior to Parexel, Mr. Bailey held senior management roles at Applied Clinical Intelligence, Theorem Clinical Research, BDH Clinical Research, Covance, and Eli Lilly. Mr. Bailey began his career as a clinical researcher at Ayerst Laboratories, and later at Hoffman La Roche. Mr. Bailey holds a bachelor’s degree in the biological sciences from Rutgers University.

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™, an allogeneic medicinal signaling cell (MSC) therapy product isolated from the bone marrow of young, healthy adult donors. Lomecel-B™ has a multi-modal mechanism of action that is pro-vascular, pro-regenerative, and anti-inflammatory, promoting tissue repair and healing with broad potential applications across a spectrum of disease areas. Longeveron is advancing Lomecel-B™ through clinical trials in three indications: Hypoplastic Left Heart Syndrome (HLHS), Alzheimer’s Disease, and Aging Frailty. Additional information about the Company is available at .

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect management's current expectations, assumptions, and estimates of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as "believe," "expects," "may," "looks to," "will," "should," "plan," "intend," "on condition," "target," "see," "potential," "estimates," "preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements in this release include, but are not limited to, statements about the ability of Longeveron’s clinical trials to demonstrate safety and efficacy of the Company’s product candidates, and other positive results; the timing and focus of the Company’s ongoing and future preclinical studies and clinical trials and the reporting of data from those studies and trials; the size of the market opportunity for the Company’s product candidates, including its estimates of the number of patients who suffer from the diseases being targeted; the success of competing therapies that are or may become available; the beneficial characteristics, safety, efficacy and therapeutic effects of the Company’s product candidates; the Company’s ability to obtain and maintain regulatory approval of its product candidates; the Company’s plans relating to the further development of its product candidates, including additional disease states or indications it may pursue; existing regulations and regulatory developments in the U.S., Japan and other jurisdictions; the Company’s plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and its ability to avoid infringing the intellectual property rights of others; the need to hire additional personnel and the Company’s ability to attract and retain such personnel; the Company’s estimates regarding expenses, future revenue, capital requirements and needs for additional financing; the Company’s need to raise additional capital, and the difficulties it may face in obtaining access to capital, and the dilutive impact it may have on its investors; the Company’s financial performance, and the period over which it estimates its existing cash and cash equivalents will be sufficient to fund its future operating expenses and capital expenditures requirements. Further information relating to factors that may impact the Company's results and forward-looking statements are disclosed in the Company's filings with the Securities and Exchange Commission, including Longeveron’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 11, 2022, and the Company’s Quarterly Reports on Form 10-Q for the periods ended March 31, 2022, and June 30, 2022. The forward-looking statements contained in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.

Investor Contact:

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