RepliCel Adds Independent Director

Rhea-AI Summary

RepliCel Life Sciences (OTCQB:REPCF) has appointed Gary Boddington to its board, enhancing its governance and oversight. Boddington, a seasoned CEO with experience in global business development, brings expertise in digital transformation and capital raising. The company has also granted 1,715,000 stock options to directors and consultants at a price of $0.40 per share, vesting over two years. RepliCel focuses on regenerative medicine for aesthetic and orthopedic conditions, with cell therapies actively developed in collaboration with partners in the U.S. and China.

Positive

• Appointment of Gary Boddington strengthens board independence and oversight.
• Grant of 1,715,000 stock options indicates commitment to aligning interests with shareholders.
• Partnerships in the U.S., China, and Japan enhance product development and clinical testing.

Negative

• None.

Board of Directors Strengthens Its Independence Oversight and Updates its Stock Options

VANCOUVER, BC / ACCESSWIRE / June 15, 2021 / RepliCel Life Sciences Inc. (OTCQB:REPCF)(TSXV:RP)(FRA:P6P2), (“RepliCel” or the “Company”), a company developing next-generation technologies in aesthetics and orthopedics, is pleased to announce it has appointed Gary Boddington to the board of directors.

Gary Boddington is currently the CEO of PlayWize Technology Inc. He is experienced in founding and leading global companies, exploring new markets, launching new products, and raising capital. Gary has worked with founders, shareholders, and boards of directors in public and private entities. He founded a business intelligence company which was acquired by a FTSE 100 company, was an early team member of Canada's first listed blockchain company which did pioneering pilot projects with major brands globally, and most recently was an independent director Vancouver fintech company which had a $100million+ exit. Gary brings to RepliCel's Board his passion for global business development and digital transformation, with his enthusiasm and experience in SportsTech, Fintech, Blockchain, Business Intelligence, Artificial Intelligence, and entrepreneurship to discussions.

The Company also announced that it has granted an aggregate of 1,715,000 stock options (each, an “Option”) to certain directors, officers, employees, and consultants for the purchase of up to 1,715,000 common shares of the Company pursuant to its Stock Option Plan. Each Option is exercisable for a period of 5 years from June 14, 2021, at a price of $0.40 per common share. 735,000 of these Options vest immediately and 980,000 of these Options vest as to 12.5% per quarter for eight quarters.

About RepliCel Life Sciences
RepliCel is a regenerative medicine company focused on developing cell therapies for aesthetic and orthopedic conditions affecting what the Company believes is approximately one in three people in industrialized nations, including aging/sun-damaged skin, pattern baldness, and chronic tendon degeneration. These conditions, often associated with aging, are caused by a deficit of healthy cells required for normal tissue healing and function. These cell therapy product candidates are based on RepliCel's innovative technology, utilizing cell populations isolated from a patient's healthy hair follicles.

The Company's product pipeline is comprised of RCT-01 for tendon repair, RCS-01 for skin rejuvenation, and RCH-01 for hair restoration. RCH-01 is exclusively licensed in Asia to Shiseido Company. RepliCel maintains the rights to RCH-01 for the rest of the world. RCT-01 and RCS-01 are exclusively licensed in Greater China to YOFOTO (China) Health Company. RepliCel and YOFOTO are currently co-developing these products in China. RepliCel maintains the rights to these products outside of Greater China.

RepliCel has also developed a proprietary injection device, RCI-02, and related consumables, which is expected to improve the administration of its cell therapy products and certain other injectables. YOFOTO has exclusively licensed the commercial rights for the RCI-02 device and consumables in Greater China for dermatology applications and is expected to first launch the product in Hong Kong upon it being approved for market launch in either the United States or Europe.

Please visit www.replicel.com for additional information.

Notable Facts:

• RepliCel's three cell therapy products have now been tested in over 100 patients in four countries on three continents having been successfully reviewed by three regulatory agencies.

• RepliCel now has key strategic partners in the United States, China, and Japan each of which are now investing heavily in the further clinical testing and development of RepliCel's products for their markets. Data from each of the clinical programs will strengthen the product development initiatives for RepliCel and its other partners worldwide.

For more information, please contact:
Lee Buckler, CEO and President
info@replicel.com

SOURCE: RepliCel Life Sciences, Inc.

View source version on accesswire.com:
https://www.accesswire.com/651731/RepliCel-Adds-Independent-Director

FAQ

Who was appointed to the board of RepliCel Life Sciences on June 15, 2021?

Gary Boddington was appointed to the board of directors of RepliCel Life Sciences on June 15, 2021.

What stock options were granted by RepliCel Life Sciences?

RepliCel Life Sciences granted 1,715,000 stock options at a price of $0.40 per share, with varying vesting schedules.

What is the focus of RepliCel Life Sciences?

RepliCel Life Sciences focuses on developing regenerative medicine technologies for aesthetic and orthopedic conditions.

What partnerships does RepliCel Life Sciences have?

RepliCel has key strategic partnerships in the U.S., China, and Japan for the clinical testing and development of its products.