Ocugen Appoints Quan A. Vu as Chief Business Officer

Rhea-AI Summary

Ocugen, Inc. (NASDAQ: OCGN) has appointed Quan A. Vu as Chief Business Officer, effective February 1, 2023. Vu brings 20 years of healthcare business experience, with a focus on corporate and business development. He will lead efforts to expand Ocugen's product portfolio and secure new business partnerships. Dr. Shankar Musunuri, Ocugen's CEO, emphasized Vu's strong business background and its alignment with the company's long-term strategy. Previously, Vu served as COO/CBO for 180 Life Sciences and has held high-level roles at various pharmaceutical companies. This leadership change is seen as essential for Ocugen's growth, especially as they advance their gene therapy pipeline.

Positive

• Appointment of Quan A. Vu as Chief Business Officer expected to strengthen business development.
• Vu's extensive experience in healthcare business enhances leadership team capabilities.
• Focus on expanding product portfolio aligns with long-term growth strategy.

Negative

• Concerns about leadership continuity and experience gaps with the new appointment.

MALVERN, Pa., Feb. 01, 2023 (GLOBE NEWSWIRE) -- Ocugen, Inc. (Ocugen or the Company) (NASDAQ: OCGN), a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines, today announced the appointment of Quan A. Vu as Chief Business Officer, responsible for securing new business development partnerships, including in/out licensing opportunities, across the Company’s pipeline.

“Expanding Ocugen’s product portfolio and capabilities, in line with our long-term strategy, is imperative for 2023,” said Dr. Shankar Musunuri, Chairman, Chief Executive Officer, and Co-Founder of Ocugen. “We are very excited to have Quan join our leadership team with his strong business background, including investment banking experience. As our pipeline, including game-changing gene therapies, progresses towards late-stage, strengthening corporate partnerships through business development activities is vital for our growth and Quan is well-qualified to lead this effort.”

Mr. Vu has 20 years of hands-on healthcare business executive experience with an emphasis on corporate and business development, strategy, and finance. He possesses a demonstrated history of prospecting, evaluating, structuring, and closing transactions that augment both organizational and shareholder value.

Prior to joining Ocugen, he served as Chief Operating Officer/Chief Business Officer for 180 Life Sciences, where he was responsible for formulating the company’s corporate strategy, ensuring operational efficiency, executing business development initiatives, and securing additional financing and capital markets support. Also, since 2019, he has provided interim CFO/CBO/CEO consulting services through his own consulting firm, Melius BioPharma Consulting.

Mr. Vu began his career in healthcare investment banking and then held leadership roles of increasing responsibility at Opiant Pharmaceuticals, Impax Laboratories, Anthem, and Amgen. He obtained his BA in Economics from UCLA, graduating summa cum laude with College Honors and Economics Departmental Honors.

About Ocugen, Inc.
Ocugen, Inc. is a biotechnology company focused on discovering, developing, and commercializing novel gene and cell therapies and vaccines that improve health and offer hope for patients across the globe. We are making an impact on patient’s lives through courageous innovation—forging new scientific paths that harness our unique intellectual and human capital. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with a single product, and we are advancing research in infectious diseases to support public health and orthopedic diseases to address unmet medical needs.

Discover more at https://ocugen.com and follow us on Twitter and LinkedIn.

Cautionary Note on Forward-Looking Statements
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. We may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from our current expectations. These and other risks and uncertainties are more fully described in our periodic filings with the Securities and Exchange Commission (SEC), including the risk factors described in the section entitled “Risk Factors” in the quarterly and annual reports that we file with the SEC. Any forward-looking statements that we make in this press release speak only as of the date of this press release. Except as required by law, we assume no obligation to update forward-looking statements contained in this press release whether as a result of new information, future events, or otherwise, after the date of this press release.

Ocugen Contact: 
Tiffany Hamilton
Head of Communications
IR@ocugen.com

FAQ

Who is the new Chief Business Officer at Ocugen?

Quan A. Vu has been appointed as the new Chief Business Officer at Ocugen, Inc.

What will Quan A. Vu's role at Ocugen involve?

Vu will focus on securing new business development partnerships and licensing opportunities.

What is the significance of Quan A. Vu's appointment for Ocugen?

His appointment is crucial for expanding Ocugen's product portfolio and advancing their gene therapy pipeline.

What is Quan A. Vu's professional background?

He has 20 years of healthcare business experience, including roles at 180 Life Sciences and other pharmaceutical companies.

When did Quan A. Vu start his position at Ocugen?

Quan A. Vu began his position as Chief Business Officer on February 1, 2023.