Full Press Release Details
Celularity and Arthrex Enter into Exclusive
Supply and Distribution Agreement for Multiple Commercial Products
Arthrex to receive exclusive rights to distribute
and commercialize Celularity's placental-derived biomaterial products for orthopedics and sport medicine in the United States
FLORHAM PARK, NJ, and NAPLES, FL, July 01, 2021- Celularity
Inc. ("Celularity"), a clinical-stage biotechnology company developing innovative cell therapies and biomaterial products
derived from the postpartum human placenta to treat cancer, infectious and degenerative diseases, and Arthrex, Inc., a global leader in
minimally invasive orthopedic technology, today announced the companies have entered into an exclusive partnership to distribute and commercialize
Celularity's biomaterial products for orthopedic surgery and sports medicine. Under the terms of the agreement, Celularity will
provide Arthrex with exclusive commercial distribution rights for orthopedic surgery and sports medicine and will continue to be responsible
for product manufacturing and supply.
"We are tremendously excited to have Arthrex, a global leader
in minimally invasive orthopedics, as a commercial partner to distribute our placental-derived biomaterial products," said Robert
J. Hariri, M.D., Ph.D., founder, Chairperson and Chief Executive Officer of Celularity. "Each of our regenerative products leverages
the unique properties of the placenta to augment the body's innate ability to heal across a variety of clinical conditions. We look
forward to working closely with Arthrex to increase the availability of these innovative products in orthopedic surgery and sports medicine,
and to improve the lives of patients."
Arthrex Senior Director of Orthobiologics David Shepard added, "Arthrex
is proud to support Celularity's innovative technology that leverages the unique biology of the placenta. Partnering with Celularity positions
us to explore new opportunities in the Orthobiologics space while continuing our mission of helping surgeons better treat their patients."
Stephen A. Brigido, D.P.M., President of Celularity's Degenerative
Diseases Division, noted "Arthrex is highly innovative, progressive, and committed to new product development. Our shared commitment
to medical and surgical education creates important cultural synergies between the two companies. The Arthrex partnership will broaden
the platform for using Celularity's regenerative products in the setting of orthopedic surgery, the market for which by one estimate
is $1.5 billion in the U.S. alone."
Arthrex Inc., headquartered in Naples, FL, is a global leader in orthopedic
surgical device design, research, manufacturing and medical education. Arthrex develops and releases more than 1,000 new products and
procedures every year to advance minimally invasive orthopedics worldwide. For more information, visit www.Arthrex.com or www.OrthoPedia.com.
Celularity, headquartered in Florham Park, NJ, is a clinical-stage
biotechnology company leading the next evolution in cellular medicine by developing off-the-shelf placental-derived allogeneic cell therapies,
including unmodified natural killer (NK) cells, genetically-modified NK cells, T cells engineered with a CAR (CAR T-cells), and mesenchymal-like
adherent stromal cells (ASCs) targeting indications across cancer, infectious and degenerative diseases. In addition, Celularity develops
and manufactures innovative biomaterials also derived from the postpartum placenta. Celularity believes that by harnessing the placenta's
unique biology and ready availability, it will be able to develop therapeutic solutions that address significant unmet global needs for
effective, accessible, and affordable therapies.
In January 2021, Celularity entered into a definitive merger agreement
with GX Acquisition Corp. to create a publicly listed leader in allogeneic cellular therapy. GX Acquisition Corp. is listed on Nasdaq
under the ticker symbol "GXGX." Upon closing of the business combination, expected to be completed in the third quarter of
2021, shares of the combined company will be listed on Nasdaq under the ticker symbol "CELU."
GX is a blank check company incorporated in Delaware for the purpose
of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or
more businesses or entities. GX is led by Jay R. Bloom and Dean C. Kehler, who serve as Managing Partners of Trimaran Capital Partners.
To learn more, visit celularity.com.
Celularity Investor Contacts:
Celularity Media Contact
LifeSci Communications
Additional Information and Where to Find It
GX has filed a registration statement on Form S-4, as amended on March
29, 2021, April 23, 2021, and June 22, 2021 (the "Registration Statement") with the U.S. Securities and Exchange Commission
("SEC"), which includes the proxy statement distributed to holders of GX's common stock in connection with GX's
solicitation of proxies for the vote by GX's stockholders with respect to the Business Combination and other matters as described
in the Registration Statement, and a prospectus relating to the offer of the securities to be issued to Celularity's stockholders
in connection with the Business Combination. The Registration Statement was declared effective by the SEC on June 25, 2021 and the definitive
proxy statement/prospectus and other relevant documents have been mailed to GX's stockholders as of the record date established
for voting on the Business Combination and the other proposals regarding the Business Combination. GX's stockholders and other interested
persons are advised to read the definitive proxy statement / prospectus in connection with GX's solicitation of proxies for its
special meeting of stockholders to be held to approve, among other things, the Business Combination, because these documents will contain
important information about GX, Celularity and the Business Combination. Stockholders may also obtain a copy of the definitive proxy
statement/prospectus, as well as other documents filed with the SEC regarding the Business Combination and other documents filed with
the SEC by GX, without charge, at the SEC website located at www.sec.gov or by directing a request to GX, 1325 Avenue of the Americas,
25th Floor, New York, NY 10019.
Participants in the Solicitation
GX and its directors and officers may be deemed participants in the
solicitation of proxies of GX's stockholders in connection with the Business Combination. GX's stockholders and other interested
persons may obtain, without charge, more detailed information regarding the directors and officers of GX in GX's Annual Report on Form 10-K for
the fiscal year ended December 31, 2020, which was filed with the SEC on March 4, 2021, GX's Definitive Proxy Statement
on Schedule 14A, which was filed with the SEC on December 4, 2020, the Registration Statement and the definitive proxy statement/prospectus,
which was filed with the SEC on June 25, 2021.
Information regarding the persons who may, under SEC rules, be deemed
participants in the solicitation of proxies of GX's stockholders in connection with the Business Combination and other matters to
be voted upon at the special meeting are set forth in the definitive proxy statement/prospectus for the Business Combination. Additional
information regarding the interests of participants in the solicitation of proxies in connection with the Business Combination is included
in the definitive proxy statement/prospectus for the Business Combination.
This communication is not a proxy statement or solicitation of a proxy,
consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to
sell or a solicitation of an offer to buy the securities of Celularity, the combined company or GX, nor shall there be any sale of any
such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification
under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting
the requirements of Section 10 of the Securities Act of 1933, as amended, and otherwise in accordance with applicable law.
Forward Looking Statements
This communication contains, or incorporates by reference, "forward-looking
statements" within the meaning of The Private Securities Litigation Reform Act of 1995, as well as within the meaning of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements
may include, but are not limited to, statements regarding the parties' expectations, hopes, beliefs, intentions, or strategies regarding
the future. In addition, any statements that refer to projections, forecasts or other characterizations of future events or circumstances,
including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "can,"
"contemplate," "continue," "could," "estimate," "expect," "forecast,"
"intends," "may," "might," "outlook," "plan," "possible," "potential,"
"predict," "project," "seek," "should," "strive," "target," "will,"
"would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that
a statement is not forward-looking. The following factors, among others, could cause actual results to differ materially from those described
in these forward-looking statements: (i) the ability to consummate the Business Combination; (ii) the expected benefits of the Business
Combination; (iii) the financial and business performance of Celularity; (iv) the inability to complete the PIPE Investment; (v)
the success and timing of Celularity's cellular therapeutic development activities and initiating clinical trials; (vi) the success
and timing of Celularity's planned clinical trials; (vii) Celularity's ability to obtain and maintain regulatory approval
of any of Celularity's therapeutic candidates; (viii) Celularity's plans to research, discover and develop additional therapeutic
candidates, including by leveraging genetic engineering and other technologies and expanding into additional indications; (ix) Celularity's