Lineage Cell Therapeutics Announces Kevin L. Cook to Join as Chief Financial Officer

Rhea-AI Summary

Lineage Cell Therapeutics (NYSE American: LCTX) announced the appointment of Kevin Cook as the new Chief Financial Officer, effective June 21, 2021. With over 20 years of experience in strategic and operational roles, Cook has managed over $30 billion in capital raising, particularly in the life sciences sector. CEO Brian Culley expressed confidence in Cook's ability to support the company's growth as it advances its clinical programs, which include therapies for degenerative diseases. Lineage aims to become a leader in cell therapy, focusing on unmet medical needs.

Positive

• Appointment of Kevin Cook as CFO with over 20 years of experience.
• Cook's prior experience includes managing over $30 billion in capital raising, enhancing financial credibility.
• Lineage's focus on advancing clinical programs could attract potential investors.

Negative

• None.

Lineage Cell Therapeutics, Inc. (NYSE American and TASE: LCTX), a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs, announced today that Kevin Cook will join as the Company’s Chief Financial Officer, effective June 21, 2021. Mr. Cook will bring more than 20 years of significant strategic, financial, and operational experience to Lineage, with an emphasis in private equity, corporate finance, and investment banking. Mr. Cook has broad expertise across a range of financial matters and has executed over $30 billion of capital raising and corporate development transactions, approximately half of which involved life sciences companies.

“We are excited to welcome Kevin to Lineage as we continue our journey to become a leading cell therapy and cell transplant company,” stated Brian M. Culley, Lineage CEO. “Kevin is a talented and skilled executive with a proven track record of execution across an array of strategic and financial disciplines. We believe he will be an important addition to the Lineage team and his breadth of experience will contribute significantly to our future success as we advance our product candidates into later stage clinical trials and seek to align strategically with financial and developmental partners to support our further growth.”

Mr. Cook most recently served as Chief Operating Officer of a family office investment firm with an emphasis in the solar energy and infrastructure industries, where he managed existing portfolio companies while pursuing new control investments. From 2012 to 2019, he served as Vice President of Corporate Development and Strategy and Vice President of Business Development for Breitburn GP LLC, where he led aggressive growth and diversification efforts for Breitburn Energy and affiliates. From 2000 to 2011, Mr. Cook served as an investment banker for Merrill Lynch & Co., where he advised life sciences companies and other clients across a range of industries in connection with corporate finance and strategic assignments. Mr. Cook earned his M.B.A. from Northwestern University’s Kellogg Graduate School of Management and his B.S. from the University of California, Davis.

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) VAC2, an allogeneic dendritic cell therapy produced from Lineage’s VAC technology platform for immuno-oncology and infectious disease, currently in Phase 1 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,” “can,” “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 Mr. Cook’s employment with Lineage and appointment as CFO and the anticipated impact thereof, clinical development of Lineage’s product candidates, and Lineage’s anticipated growth and potential partnerships in furtherance thereof. 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 (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 most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the SEC 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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FAQ

Who is the new CFO of Lineage Cell Therapeutics?

Kevin Cook has been appointed as the new Chief Financial Officer of Lineage Cell Therapeutics, effective June 21, 2021.

What experience does Kevin Cook bring to Lineage Cell Therapeutics?

Kevin Cook brings over 20 years of experience in strategic, financial, and operational roles, including managing more than $30 billion in capital raising.

What is the focus of Lineage Cell Therapeutics?

Lineage Cell Therapeutics focuses on developing allogeneic cell therapies to address unmet medical needs.

What are Lineage's clinical programs?

Lineage's clinical programs include OpRegen®, OPC1, and VAC2, targeting diseases like age-related macular degeneration and non-small cell lung cancer.