Neha Motwani Elected to Longeveron® Board of Directors

Rhea-AI Summary

Longeveron (NASDAQ: LGVN) has elected Neha Motwani to its Board of Directors during the Annual Meeting of Stockholders. Ms. Motwani brings over 25 years of healthcare investment banking experience, having raised approximately $7.0 billion in transactions while serving at firms like William Blair, Truist Securities, and Oppenheimer. Longeveron, a clinical-stage biotech company, is developing cellular therapies for conditions such as hypoplastic left heart syndrome (HLHS) and Alzheimer’s disease. Co-founder Joshua Hare emphasized that her expertise in biopharma operations, financing, and capital markets will significantly benefit the company as it advances its Lomecel-B™ therapy, which has shown positive results in five clinical trials across three indications.

Positive

• Neha Motwani's election to the Board may enhance Longeveron's strategic direction and financial planning capabilities.
• Her experience includes raising approximately $7.0 billion in transactions, which could be beneficial for future funding needs.

Negative

• The appointment does not address immediate clinical or financial performance metrics, leaving some uncertainty for investors seeking short-term gains.

MIAMI, July 09, 2024 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ: LGVN), a clinical stage regenerative medicine biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions, including hypoplastic left heart syndrome (HLHS) and Alzheimer’s disease, today announced that Neha Motwani, a senior healthcare investment banker, has been elected to the Longeveron Board of Directors at the Company’s recent Annual Meeting of Stockholders.

“I am delighted to welcome Neha, with her tremendous healthcare industry experience, to the Board of Directors,” said Joshua Hare, Co-founder, Chief Science Officer and Chairman of the Board at Longeveron. “Her extensive knowledge of biopharma company operations, financing and capital markets will bring significant value to Longeveron as we continue to advance Lomecel-B™, our proprietary, scalable, allogeneic cellular therapy. With five positive clinical trials across three indications, we believe Lomecel-B™ has the potential to be an important therapy for some of the most difficult diseases and conditions associated with aging.”

Neha Motwani has over 25 years of healthcare investment banking experience, most recently serving as Managing Director, Healthcare Investment Banking at William Blair. She previously held investment banking roles of increasing responsibility with Truist Securities, Oppenheimer and Company, Stifel Financial and Cowen and Company, where, collectively, she completed transactions raising approximately $7.0 billion. Ms. Motwani earned her B.A. in political science from Columbia University.

“I am delighted to join the Board of Directors of Longeveron at this exciting phase of the Company’s clinical development,” said Ms. Motwani. “I look forward to working with this talented team to continue their mission to advance their novel cellular therapy, Lomecel-B™ for the potential treatment of HLHS, a rare and devastating congenital heart condition, and diseases of the aging.”

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 multiple potential mechanisms of action encompassing pro-vascular, pro-regenerative, anti-inflammatory, and tissue repair and healing effects with broad potential applications across a spectrum of disease areas. Longeveron is currently pursuing three pipeline indications: hypoplastic left heart syndrome (HLHS), Alzheimer’s disease, and Aging-related Frailty. The Lomecel-B™ HLHS program has received three distinct and important FDA designations: Orphan Drug designation, Fast Track designation, and Rare Pediatric Disease designation. For more information, visit www.longeveron.com or follow Longeveron on LinkedIn, X, and Instagram.

Investor Contact:
Derek Cole
Investor Relations Advisory Solutions
derek.cole@iradvisory.com

A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/00f0eb5c-76f5-49b1-9994-ee363513547b

FAQ

What experience does Neha Motwani bring to Longeveron (LGVN)?

Neha Motwani has over 25 years of healthcare investment banking experience, having raised approximately $7.0 billion in transactions during her career at firms like William Blair, Truist Securities, and Oppenheimer.

Why was Neha Motwani elected to the Longeveron (LGVN) Board of Directors?

Neha Motwani was elected to leverage her extensive knowledge of biopharma operations, financing, and capital markets to benefit Longeveron as the company advances its cellular therapy, Lomecel-B™.

What is Longeveron (LGVN) developing?

Longeveron is developing cellular therapies for life-threatening and chronic aging-related conditions, including hypoplastic left heart syndrome (HLHS) and Alzheimer's disease.

How might Neha Motwani's election impact Longeveron (LGVN)'s stock performance?

Her election may positively influence Longeveron's strategic and financial planning, potentially leading to better funding opportunities and advancing its therapeutic developments.

What potential does Longeveron's (LGVN) Lomecel-B™ therapy have?

Lomecel-B™ has shown positive results in five clinical trials across three indications, suggesting it could be an important therapy for difficult diseases associated with aging.