Asterias Biotherapeutics Appoints Ryan Chavez As EVP Of Finance And General Counsel

FREMONT, Calif., July 18, 2016 /PRNewswire/ -- Asterias Biotherapeutics, Inc. (NYSE MKT: AST), a biotechnology company with three clinical-stage development programs focused on the emerging field of regenerative medicine, today announced that the company has appointed Ryan Chavez as Executive Vice President of Finance and General Counsel, effective today, reporting to Steve Cartt, President and Chief Executive Officer.          

As Asterias' chief legal officer and a senior financial executive, Mr. Chavez will oversee day-to-day legal operations and strategy, utilizing previous in-house experience with publicly-traded companies including Questcor Pharmaceuticals, Inc. and Mallinckrodt Pharmaceuticals, plc. He will provide leadership on regulatory and compliance, risk management, M&A, litigation, corporate governance, general legal issues and corporate financial matters.

"Ryan is a highly accomplished legal and finance professional with broad experience in corporate law and finance," said Mr. Cartt. "Ryan's expansive knowledge within the healthcare industry, including regulatory law, securities law, compliance and M&A, combined with his financial and business acumen, further strengthens our executive leadership team." 

Most recently, Mr. Chavez was Vice President and General Counsel of Mallinckrodt's Autoimmune and Rare Disease Division. Before joining Mallinckrodt in August 2014, Mr. Chavez served as Associate General Counsel at Questcor. Prior to joining Questcor in October 2012, he worked at the law firms of Stradling, Yocca, Carlson & Rauth and Rutan & Tucker. Previously, Mr. Chavez served in various financial roles at General Electric Co. He earned his J.D., magna cum laude, from Chapman University School of Law and his B.A. with honors and distinction from Stanford University.

Russell Skibsted, the current acting CFO of Asterias, and Mr. Chavez will work closely together on Asterias financial reporting and related matters while Mr. Chavez transitions into his new role.

About Asterias Biotherapeutics

Asterias Biotherapeutics, Inc. is a leading biotechnology company in the emerging field of regenerative medicine. The company's proprietary cell therapy programs are based on its immunotherapy and pluripotent stem cell platform technologies. Asterias is presently focused on advancing three clinical-stage programs which have the potential to address areas of very high unmet medical need in the fields of oncology and neurology. AST-OPC1 (oligodendrocyte progenitor cells) is currently in a Phase 1/2a dose escalation clinical trial in spinal cord injury.  AST-VAC1 (antigen-presenting autologous dendritic cells) demonstrated promise in a Phase 2 study in acute myelogenous leukemia (AML) and completed a successful end-of-Phase 2 meeting with the FDA in advance of assessing plans for a single pivotal Phase 3 AML study. AST-VAC2 (antigen-presenting allogeneic dendritic cells) represents a second generation, allogeneic immunotherapy. The company's research partner, Cancer Research UK, plans to begin a Phase 1/2 clinical trial of AST-VAC2 in non-small cell lung cancer in 2017. Additional information about Asterias can be found at www.asteriasbiotherapeutics.com.

FORWARD-LOOKING STATEMENTS

Statements pertaining to future financial and/or operating and/or clinical research results, future growth in research, technology, clinical development, and potential opportunities for Asterias, along with other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements. Any statements that are not historical fact (including, but not limited to statements that contain words such as "will," "believes," "plans," "anticipates," "expects," "estimates") should also be considered to be forward-looking statements. Forward-looking statements involve risks and uncertainties, including, without limitation, risks inherent in the development and/or commercialization of potential products, uncertainty in the results of clinical trials or regulatory approvals, need and ability to obtain future capital, and maintenance of intellectual property rights. Actual results may differ materially from the results anticipated in these forward-looking statements and as such should be evaluated together with the many uncertainties that affect the businesses of Asterias, particularly those mentioned in the cautionary statements found in Asterias' filings with the Securities and Exchange Commission. Asterias disclaims any intent or obligation to update these forward-looking statements.

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SOURCE Asterias Biotherapeutics, Inc.