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2025-09-04 04:14
MIAMI, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Longeveron Inc. (NASDAQ:LGVN), a clinical stage regenerative medicine biotechnology company developing cellular therapies for life-threatening, rare pediatric and chronic aging-related conditions, today announced key leadership updates. The Company's Board of Directors has appointed Than Powell as interim Chief Executive Officer, effective immediately. He succeeds Wa'el Hashad who transitioned from Chief Executive Officer to pursue other opportunities. The Board also appointed Dr. Joshua Hare, Longeveron's founder, Chief Science Officer and current Board Chair, as Executive Chairman of the Board. Dr. Hare and Mr. Powell already serve in executive leadership roles for the Company with both having long-term industry experience, deep organizational knowledge and proven commitment to Longeveron. The Board plans to conduct a national search to identify a permanent CEO.
"Longeveron has a robust pipeline built on our stem cell therapy laromestrocel and we are highly confident in our ability to capitalize on multiple compelling opportunities for both patients and shareholders," said Joshua Hare, MD, FACC, FAHA, Executive Chairman and Chief Science Officer of Longeveron. "Laromestrocel has demonstrated positive initial outcomes in five clinical trials across three indications. With our pivotal Phase 2b clinical trial evaluating laromestrocel as a potential treatment for HLHS having achieved full enrollment, we continue to anticipate top-line trial results in 2026 and, if the trial is successful, a potential BLA filing for HLHS thereafter. With the expansion of our pipeline to include pediatric dilated cardiomyopathy, we have now advanced three unique programs to the pivotal clinical trial stage of development. We are working every day to advance stem cell therapies for the benefit of patients and their families and look forward to sharing our continued progress."
Roger Hajjar, MD, Chair of the Board's Nominating and Corporate Governance Committee, commented, "On behalf of the Board and management team, I want to thank Wa'el for his significant contributions over the past two and a half years advancing and expanding the Longeveron pipeline, achieving multiple important regulatory successes and building the incredible team we have today. We wish him continued success in his future endeavors. I would also like to welcome Than to his new role. This is an incredibly important time for both the company and the healthcare field. Gene and cell therapies are revolutionizing patient care with the potential to cure diseases or halt their progression and Longeveron is at the forefront of stem cell therapy research and clinical development. The combination of Josh's scientific expertise and Than's business development acumen is the strategic leadership that we believe will drive Longeveron's future success."
Mr. Powell, interim CEO, commented, "This is an extraordinary time for Longeveron and our stem cell therapy laromestrocel. It is unusual for a company of our size to have three development programs at the stage of pivotal clinical trials. I am incredibly confident in the capabilities of the Longeveron team and look forward to working with them to ensure the long-term success of laromestrocel, prudently advance our stem cell therapy pipeline, and work with potential partners to leverage our stem cell technology for the benefit of patients and shareholders."
Mr. Powell has over 25 years of pharmaceutical and biotech leadership across multiple industry leading organizations, including GSK and Eli Lilly. Prior to Longeveron, Mr. Powell led Corporate Development & Strategy for Surescripts, ultimately resulting in the company's acquisition by TPG. Before that role, Mr. Powell was founder and CEO of Epulate, a venture-backed health technology company focused on Transplant Immunology.
Mr. Powell holds a Bachelor of Arts in Economics from DePauw University and a Master of Business Administration from Stanford University, Graduate School of Business.
Dr. Hare is a double board-certified cardiologist with over 35 years of experience in biomedical research both in academia and in the biotechnology industry. Dr. Hare is Longeveron's co-founder, and inventor of Longeveron's patent portfolio. Dr. Hare holds a Bachelor of Arts from the University of Pennsylvania and an M.D. from The Johns Hopkins University School of Medicine, completed fellowships at Johns Hopkins and Brigham and Women's Hospital and was a Research Fellow at Harvard Medical School.
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 laromestrocel (Lomecel-B™), an allogeneic mesenchymal stem cell (MSC) therapy product isolated from the bone marrow of young, healthy adult donors. Laromestrocel 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 four pipeline indications: hypoplastic left heart syndrome (HLHS), Alzheimer's disease, Pediatric Dilated Cardiomyopathy (DCM) and Aging-related Frailty. Laromestrocel development programs have received five distinct and important FDA designations: for the HLHS program - Orphan Drug designation, Fast Track designation, and Rare Pediatric Disease designation; and, for the AD program - Regenerative Medicine Advanced Therapy (RMAT) designation and Fast Track designation. For more information, visit www.longeveron.com or follow Longeveron on LinkedIn, X, and Instagram.