Cellect Biomed Announces Key Leadership Changes
November 09 2015 - 8:30AM
Cellect Biomed Ltd. (TASE:CLBD) ("Cellect" or the "Company"), a
developer of innovative technology which enables the functional
selection of stem cells, announced additions to its management and
professional teams in support of its preparations for the
commencement of human clinical trials and its planned dual-listing
on a U.S. stock exchange.
Ronen Twito, CPA has joined the company as its Deputy CEO and
CFO. Mr. Twito possesses over 15 years of experience in financial
management and executive roles with publicly traded companies, as
well as extensive experience from life sciences companies and
capital raises. Most recently, Mr. Twito served as VP Finance
at BioBlast Pharma (NASDAQ:ORPN), an international biotechnology
company in advanced clinical development stages, which raised over
$35 million in its 2014 NASDAQ IPO. Previously, he served as
Deputy CEO and CFO at XTL Biopharmaceuticals Ltd. (NASDAQ:XTLB), a
clinical stage company listed on NASDAQ that raised approximately
$30 million from institutional investors in Europe and Israel
during his tenure there. Prior to that, Mr. Twito served as
Corporate Finance Director at Leadcom and as Manager at Ernst &
Young. Mr. Twito is an Israeli Certified Public Accountant,
holds a B.A in Business Administration and Accounting and is a
member of the Institute of Certified Public Accountants in
Israel.
"I am thrilled to be joining Cellect at this exciting point in
its clinical and commercial development," said Mr. Twito. "The
Company's innovative technological platform in the stem cell
selection field holds the promise of addressing a number of
significant unmet medical needs. Moreover, Cellect's planned
listing on a major U.S. stock exchange will provide exposure to a
broader range of investors."
The Company also appointed Dr. Amotz Nechushtan as its VP
Business Development. Dr. Nechushtan has 20 years of
experience in senior business development positions in the drug and
medical device sectors. His most recent position was CEO of
Iluten. In his new role with Cellect, he will be responsible
for the Company's flagship product platform and for expanding the
collaboration with its American partner, Entegris. Dr. Nechushtan
holds a doctorate in Biochemistry from the Hebrew University of
Jerusalem and a post-doctorate from the National Institute of
Health (NIS) in the United States.
Finally, Smadar Hartuv has joined Cellect as its Quality
Assurance Manager. As both the development of the Company's
products and its regulatory submissions progress, it is incumbent
upon Cellect to comply with strict quality standards and prepare
for global manufacturing and marketing. Mr. Hartuv is ideally
suited to lead this effort as he has considerable quality
management experience gained through similar roles with Teva,
MacroCure, and others.
Shai Yarkoni, Cellect's CEO, commented, "We believe this is the
right time to expand our leadership and establish a management team
with international capabilities and experience. The
appointment of Ronen Twito as Deputy CEO and CFO represents a
significant step towards Cellect maturing into a global leader in
its field. Furthermore, Amotz's and Smadar's experience will
greatly contribute to the Company's planned development, in both
its clinical and business aspects. I welcome their joining our
Company and I am certain their varied experience will be of great
value to Cellect moving forward."
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such jurisdiction.
About Cellect Biomed
Cellect is developing an innovative technology which enables the
functional selection of stem cells based on their sensitivity to
apoptosis. This functional-based selection is an important
breakthrough in the ability to isolate stem cells from mature
cells, thereby enabling a variety of stem cell therapeutic
applications.
The Company's first product line will include unique containers
for cell selection in apoptosis-inducing microenvironment. Cellect
has proved in extensive lab studies that the use of apoptosis can
largely increase the stem cell concentration in samples taken from
bone marrow donors, as well as umbilical cord blood. The Company's
first planned commercial product is a medical kit designed for the
bone marrow transplantation market, as well as other markets which
require stem cell selection. The Company estimates that in
the future its technology will be integrated in many production
procedures of stem cell-based product.
CONTACT: Israel:
Michal Efraty
+972523044404
michal@efraty.com
United States:
Stephen Kilmer
(647) 872-4849
stephen@kilmerlucas.com
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