Longeveron Inc. Provides Corporate Update and Reports Third Quarter 2021 Financial Results -- Longeveron to hold conference call today at 8:30 AM EDT Miami, Florida - November 12 th , 2021- Longeveron Inc. (NASDAQ: LGVN)

Longeveron Inc. Provides

Corporate Update and Reports Third Quarter 2021 Financial Results

-- Longeveron to hold conference call today

Miami, Florida - November 12th,

2021- Longeveron Inc. (NASDAQ: LGVN) ("Longeveron" or "Company"), a clinical stage biotechnology company

developing cellular therapies for chronic aging-related and life-threatening conditions, today provided a business update regarding the

status of the Company's various clinical research programs and reported its financial results for the quarter ended September 30,

"In the third quarter of 2021, we continued

executing across our pipeline", said Geoff Green, CEO of Longeveron. "With a growing base of encouraging clinical data, we

continue to make excellent progress in advancing our lead candidate, Lomecel-B, into next phase trials. In addition to the ongoing Phase

1 and 2 trials in flu and covid-related Acute Respiratory Distress Syndrome (ARDS), and Hypoplastic Left Heart Syndrome (HLHS), we anticipate

initiating our Phase 2 Alzheimer's disease and Japanese Phase 2 Aging Frailty studies by year end, or in the first quarter of 2022."

Lomecel-B Clinical Research Developments:

Hypoplastic Left Heart Syndrome:

Alzheimer's Disease:

Acute Respiratory Distress Syndrome Due to

Financial Results for Third Quarter Ended September

Revenue: Revenue in the third quarter 2021

was $0.2 million compared to $1.8 million in the same period in 2020. The difference was largely due to a decrease in grant revenue, as

R&D Expenses: Research and development

expenses in the third quarter of 2021 were $2.0 million compared to $0.6 million for the same period in 2020. The increase of $1.4 million,

or 250%, was primarily due to an increase in research and development expenses that were not reimbursable by grants, related to the completion

of clinical trials; as well as $0.9 million of equity-based compensation expense recorded for Restricted Stock Units ("RSUs")

and stock options granted during the quarter.

G&A Expenses: General and administrative

expenses in the third quarter of 2021 were $3.0 million compared to $0.7 million for the same period in 2020. The increase of approximately

$2.3 million, or 327%, was primarily related to an increase in compensation, insurance and professional expenses incurred during the current

period; including $1.6 million of equity-based compensation expense recorded during the quarter.

Net Loss: Net loss was $4.9 million in

the third quarter 2021 compared to $0.9 million for the same period in 2020.

Per Share: Net loss per share was $0.25

in the third quarter 2021 compared to $0.06 for the same period in 2020.

Cash and Short Term Investments: Cash and

short term investments was $19.0 million compared to $1.4 million as of September 30, 2021 and 2020, respectively. The increase in cash

period over period was the result of the completion of the Company's initial public offering in February of 2021.

Based on the Company's current operating

plan and financial resources, we believe that our existing cash on hand will be sufficient to cover expenses and capital requirements

through at least the fourth quarter of 2022.

Conference Call and Webcast

Management will host a conference call today at

8:30 a.m. Eastern Time to discuss the Company's third quarter 2021 financial results and provide a business update.

The conference call will be available via telephone

by dialing toll free 1-844-200-6205 for U.S. callers; 1-646-904-5544 for local callers; or +1 929-526-1599 for international callers and

using entry code 397367. An audio replay of the call will be available through November 18, 2021.

A webcast of the call may be accessed from the

"Events & Presentations" page on the Longeveron website at https://investors.longeveron.com/events-and-presentations/default.aspxby

selecting today's date from the "Upcoming Events" calendar followed by the "Webcast" link that appears beneath.

The recorded webcast will remain accessible for one year through November 12, 2022.

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.

Cautionary Note Regarding 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 Securities and Exchange Commission, including our Quarterly Report on

Form 10-Q for the period ended September 30, 2021. 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, or otherwise.

Stern Investor Relations

Email: Brendan.payne@sternir.com

Source: Longeveron Inc

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Source: Longeveron Inc.