Full Press Release Details
University of Miami Expand Exclusive License Agreement, and Enter into CRADA To Facilitate Future Collaborations
Additional Intellectual Property and Clinical Data for Longeveron While Strengthening Research and Development Relationship
Miami, Florida-March 10, 2021-
Longeveron Inc. (NASDAQ: LGVN) ("Longeveron" or "Company"), a clinical stage biotechnology company developing
cellular therapies for chronic aging-related and life-threatening conditions, announced today that the Company has expanded and
amended its exclusive license agreement (ELA) related to Lomecel-B technology rights, and entered into a Collaborative Research
and Development Agreement (CRADA) with the University of Miami (UM).
On November 20, 2014, the Company entered
into an ELA with UM for the use of medicinal signaling cell (MSC) technology rights developed at UM by the Company's Chief
Science Officer, Joshua Hare, M.D., who is also founding director of the Interdisciplinary Stem Cell Institute at the UM Miller
School of Medicine. The expanded and amended ELA includes the following:
Geoff Green, CEO of Longeveron, stated,
"Our relationship with the University of Miami extends back to the founding of Longeveron, and this arrangement gives Longeveron
access to additional clinical data to support its development programs and regulatory filings, strengthens the relationship between
UM and Longeveron, and facilitates future technology transfer arrangements between the two entities." Mr. Green continued:
"I am thrilled to see this CRADA instituted between UM and Longeveron as a means to streamline future technology transfers
that are mutually beneficial to the University and the Company."
Norma Sue Kenyon, Ph.D., Vice Provost for
Innovation at the University of Miami and Chief Innovation Officer of the Miller School of Medicine, commented, "We are excited
to expand our collaboration with Longeveron as they have continued to effectively execute against key milestones. Moreover, following
the recent IPO to Nasdaq, we believe Longeveron is well capitalized to further advance the platform. These technologies, originally
developed by Dr. Hare and his team at the University of Miami, address very significant market opportunities. We believe Longeveron
is the ideal partner to advance these technologies through clinical development in order to achieve the ultimate goal of helping
patients with severe life-threatening and quality of life issues."
About Longeveron Inc.
Longeveron is a clinical stage biotechnology
company developing cellular therapies for specific aging-related and life-threatening conditions. The Company's lead investigational
product is the LOMECEL-B cell-based therapy product ("Lomecel-B"), which is derived from culture-expanded medicinal
signaling cells (MSCs) that are sourced from bone marrow of young, healthy adult donors. Longeveron believes that by using the
same cells that promote tissue repair, organ maintenance, and immune system function, it can develop safe and effective therapies
for some of the most difficult disorders associated with the aging process and other medical disorders. Longeveron is currently
sponsoring Phase 1 and 2 clinical trials in the following indications: Aging Frailty, Alzheimer's disease, the Metabolic
Syndrome, Acute Respiratory Distress Syndrome (ARDS), and hypoplastic left heart syndrome (HLHS). The Company's mission is
to advance Lomecel-B and other cell-based product candidates into pivotal Phase 3 trials, with the goal of achieving regulatory
approvals, subsequent commercialization and broad use by the healthcare community. Additional information about the Company is
available at www.longeveron.com.
Forward-Looking Statements
Certain statements in this press release
that are not historical facts are forward-looking statements that reflect management's current expectations, assumptions, and estimates
of future performance and economic conditions, and involve risks and uncertainties that could cause actual results to differ materially
from those anticipated by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking
terminology such as "believe," "expects," "may," "looks to," "will," "should,"
"plan," "intend," "on condition," "target," "see," "potential," "estimates,"
"preliminary," or "anticipates" or the negative thereof or comparable terminology, or by discussion of strategy
or goals or other future events, circumstances, or effects. Moreover, forward-looking statements in this release include, but are
not limited to, statements about the ability of our clinical trials to demonstrate safety and efficacy of our product candidates,
and other positive results; the timing and focus of our ongoing and future preclinical studies and clinical trials; the size of
the market opportunity for our product candidates, the beneficial characteristics, safety, efficacy and therapeutic effects of
our product candidates; our ability to obtain and maintain regulatory approval of our product candidates, our plans and ability
to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability
to avoid infringing the intellectual property rights of others. Further information relating to factors that may impact the Company's
results and forward-looking statements are disclosed in the Company's filings with the SEC. The forward-looking statements contained
in this press release are made as of the date of this press release, and the Company disclaims any intention or obligation, other
than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events,
Crescendo Communications, LLC
Email: lgvn@crescendo-ir.com