Full Press Release Details
Announces Termination of Shareholder Rights Agreement
CAMBRIDGE, Mass., February 12, 2021 (GLOBE NEWSWIRE) -- Vericel
Corporation (NASDAQ:VCEL), a leader in advanced therapies for the sports medicine and severe burn care markets, today announced
that its Board of Directors unanimously approved the termination of the Company's shareholder rights agreement, commonly
referred to as a "poison pill", which was originally scheduled to expire on August 15, 2021. The shareholder rights
agreement was amended to accelerate the expiration date to February 11, 2021, effectively terminating the plan as of that date.
"Vericel is committed to enhancing its governance policies
for the benefit of shareholders," said Nick Colangelo, President and Chief Executive Officer of Vericel. "The termination
of the shareholder rights plan advances that objective."
Shareholders are not required, nor do they need to take any
action because of the termination of this shareholder rights agreement.
About Vericel Corporation
Vericel is a leader in advanced therapies for the sports medicine
and severe burn care markets. The company markets two cell therapy products in the United States. MACI (autologous
cultured chondrocytes on porcine collagen membrane) is an autologous cellularized scaffold product indicated for the repair of
symptomatic, single or multiple full-thickness cartilage defects of the knee with or without bone involvement in adults. Epicel
(cultured epidermal autografts) is a permanent skin replacement for the treatment of patients with deep dermal or full thickness
burns greater than or equal to 30% of total body surface area. The company also holds an exclusive license for North American rights
to NexoBrid , a registration-stage biological orphan product for debridement of severe thermal burns. For more information,
please visit the company's website at www.vcel.com.
Epicel and MACI are registered
trademarks of Vericel Corporation. NexoBrid is a registered trademark of MediWound Ltd. and is used under license