Full Press Release Details
Expands Advanced Biomaterial Product Commercial Portfolio with Acquisition of Rebound Product from Sequence LifeScience, Inc.
PARK, N.J., October 16, 2024 (GLOBE NEWSWIRE) - Celularity Inc. (Nasdaq: CELU) ("Celularity"), a regenerative and cellular
medicine company, today announced that it had added to its commercial portfolio of placental-derived advanced biomaterial products with
the acquisition of Rebound, a full thickness placental-derived allograft matrix product, from Sequence LifeScience, Inc. ("Sequence").
adds to our portfolio of placental-derived advanced biomaterial products, sales of which through the first half of 2024 were in excess
of $24 million, which is greater than our full year sales in 2023," said Robert J. Hariri, M.D., Ph.D., Chairman, CEO and founder
of Celularity. "We expect Rebound sales to contribute meaningfully in the fourth quarter 2024 and to fulfill expected full year
2024 biomaterial sales which we announced in February, augmenting our other revenues from biobanking and research agreements,"
added Dr. Hariri, "I am very pleased with Celularity's commercial traction and optimistic about our future performance."
complements Celularity's existing portfolio of advanced biomaterials, which includes innovative placental-derived products that
have shown strong market demand. The addition of Rebound enhances Celularity's ability to address a broader patient population
in wound care and soft tissue repair. By leveraging the unique properties of placental tissues, Celularity continues to differentiate
itself in the regenerative medicine market, providing physicians and patients with advanced, natural solutions designed to improve healing
outcomes. This acquisition aligns with Celularity's strategic vision of expanding its offerings and reinforces its leadership in
the field of placental-derived biomaterials.
Inc. (Nasdaq: CELU) is an innovative regenerative and cellular medicine company. It is developing and commercializing advanced biomaterial
products and allogeneic, cryopreserved, placental-derived cell therapies, all derived from the postpartum placenta. What sets Celularity
apart is its therapeutic programs that target aging-related diseases, including degenerative diseases, cancer, and immune disorders,
using mesenchymal-like adherent stromal cells (MLASCs), T-cells engineered with CAR (CAR T-cells), and genetically modified and unmodified
natural killer (NK) cells. Celularity's unique approach, harnessing the placenta's biology and ready availability, is paving
the way for therapeutic solutions that address significant unmet global needs for effective, accessible, and affordable therapies.
press release includes "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act
of 1995, as well as within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities
Exchange Act of 1934, as amended. All statements other than statements of historical facts are "forward-looking statements,"
including those relating to future events. In some cases, you can identify forward-looking statements by terminology such as "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 the negative of terms like these or other comparable
terminology, and other words or terms of similar meaning. The forward-looking statements in this press release include express or implied
statements regarding the impact of the Rebound asset on Celularity's biomaterial sales for the fourth quarter 2024 and full year
2024, and expectations related to commercial performance. Many factors could cause actual results to differ materially from those described
in these forward-looking statements, including but not limited to: Celularity's liquidity situation; the volatility in Celularity's
stock price; inherent risks in biotechnological development, including with respect to the development of novel advanced biomaterials;
and the regulatory approval process; along with those risk factors set forth under the caption "Risk Factors" in Celularity's
annual report on Form 10-K filed with the Securities and Exchange Commission (SEC) on July 30, 2024, and other filings with the SEC.
If any of these risks materialize or underlying assumptions prove incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be additional risks that Celularity does not presently know, or that Celularity
currently believes are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements.
In addition, these forward-looking statements reflect Celularity's current expectations, plans, or forecasts of future events and
views as of the date of this communication. Subsequent events and developments could cause assessments to change. Accordingly, forward-looking
statements should not be relied upon as representing Celularity's views as of any subsequent date, and Celularity undertakes no
obligation to update forward-looking statements to reflect events or circumstances after the date hereof, whether as a result of new
information, future events or otherwise, except as may be required under applicable securities laws.
Vice President, Celularity Inc.