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Paracrine Announces Appointment of Biotech Veteran David Crean, Ph.D. to the Board of Directors
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
management
Rhea-AI Summary
Paracrine, Inc. has appointed David Crean, Ph.D., as an independent Director, enhancing its board with his extensive healthcare experience. Crean's role is crucial as Paracrine develops innovative cell therapies targeting the $21 billion advanced wound care market. He expressed enthusiasm for advancing the company’s clinical and commercialization strategy, particularly in treating diabetic foot ulcers, where their therapy has shown promising results with twice the wound closure rate in half the time. Paracrine is focused on addressing chronic illnesses through its unique cell therapy platform.
Positive
Appointment of David Crean as independent Director is expected to enhance strategic guidance.
Crean's healthcare expertise aligns with Paracrine's focus on the advanced wound care market.
Potential for increased investor confidence and strategic partnerships due to Crean's extensive network.
Negative
Concerns about continuity and experience gaps in leadership despite the new appointment.
SAN DIEGO--(BUSINESS WIRE)--
Paracrine, Inc., a company developing its novel cell therapy platform in late-stage clinical trials in advanced wound care, announced today the appointment of David Crean, Ph.D. as an independent Director of the company.
“We are delighted to welcome David Crean to the Paracrine Board,” said Christopher J. Calhoun, Chairman and CEO of Paracrine. “David’s deep experience in the healthcare and biotechnology fields will provide immense value to Paracrine as we continue to execute our strategy of developing safe, cost-effective cell therapies in the $21 billion wound care market.”
“I am happy to join Paracrine’s Board of Directors at this exciting time in the company’s development,” added David Crean, Ph.D. “Together with the team, I am looking forward to contributing to Paracrine’s clinical and commercialization strategy, achieving the company’s financing goals and successfully implementing our vision of providing urgently needed new therapeutic options in chronic wound care. I am particularly excited with our lead program in treating diabetic foot ulcers, where prior studies have demonstrated Paracrine’s cell therapy resulted in twice the wound closure rate of non-healing ulcers in half the time.”
David is Founder and Managing Partner of Cardiff Advisory LLC, an investment banking firm focused on providing strategic and financial advisory for M&A, partnering and capital financing transactions within the life sciences and healthcare sectors. David is also a Co-Founder and Managing General Partner of Equitos Venture Partners, a life sciences-focused investment firm with $750m of assets under management. In addition, David is an investment partner with Suncoast Venture Partners and Mesa Verde Venture Partners, two micro life science seed stage & incubator venture funds.
Dr. Crean currently serves as Chairman of the Board of Directors for Phoenix Molecular Designs, Lead Independent Director of Histogen, Inc. (Nasdaq: HSTO) and serves on the Board of Directors of California Life Sciences (Executive Committee), and BIOCOM (Chairman of Capital Development).
David is a contributing writer for PharmaBoardroom.com and Forbes.com. As a result of his trusted and outstanding advisory work, he has been awarded numerous recognitions including San Diego’s 500 Most Influential people in 2019-2021. David was also recognized as part of the 2020 Top Thought Leaders by Axial, M&A Advisor of the Year in 2019 and the 2018 Healthcare Hero Award.
About Paracrine
Paracrine, Inc. is a biotechnology company committed to unlocking the potential of autologous stem cells for patients suffering from serious chronic illnesses by discovering, developing, and delivering innovative and effective human therapeutics. The company is advancing multiple late-stage clinical trials, initially targeting the $21 billion advanced wound care market segment. Paracrine’s device-enabled cell therapy platform bears the promise of cost-effectively addressing common underlying pathology of debilitating chronic diseases due to its multi-modal mechanisms of action.
This press release includes forward-looking statements regarding events, trends and business prospects, which may affect our future operating results and financial position. Such statements are subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Paracrine assumes no responsibility to update or revise any forward-looking statements contained in this press release to reflect events, trends or circumstances after the date of this press release.
Investor Contact
Christopher Calhoun +1 858-923-1200
IR@paracrine.com
Source: Paracrine, Inc.
FAQ
Who is David Crean and what is his role at HSTO?
David Crean, Ph.D., has been appointed as an independent Director at Paracrine, focusing on its clinical and commercialization strategies.
What is the significance of Paracrine's new director for HSTO?
David Crean's appointment is significant as it brings extensive experience in healthcare, which could enhance Paracrine's strategic direction and investor confidence.
What impact does David Crean's appointment have on Paracrine's stock performance for HSTO investors?
Crean's appointment may positively influence Paracrine's future strategies and growth potential in the advanced wound care market, potentially benefiting HSTO investors.
What are Paracrine's goals in the advanced wound care market?
Paracrine aims to develop safe, cost-effective cell therapies targeting chronic illnesses, particularly diabetic foot ulcers, with a focus on achieving high wound closure rates.
