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Kadimastem Announces Leadership Changes
NESS ZIONA, Israel, May 29, 2019 /PRNewswire/ -- Kadimastem (TASE: KDST), a stem cell-based therapeutic company, announced recently that Yossi Ben Yosef has stepped down as Chief Executive Officer. Rami Epstein has assumed the role of Chief Executive Officer in addition to his current role as member of the Board of Directors. In order to ensure a smooth transition, Ben Yosef will continue with the Company as Honorary President and strategic consultant to the Chief Executive Officer.
"On behalf of the Board of Directors and employees of Kadimastem, I would like to thank Yossi for his contribution to the Company. Under his leadership, Kadimastem has developed a ground-breaking stem cell platform technology and reached advanced stages of human clinical trials with its product for the treatment for ALS, followed by its solution for diabetes," said Eli Opper, Chairman of Kadimastem. "Rami Epstein, our new CEO, has been a Director at Kadimastem and a part of its leadership team for many years. Rami brings with him extensive business experience in biopharma as an entrepreneur, legal advisor and a leader. I look forward to continuing to work with Rami and the talented team at Kadimastem in order to bring treatment to patients and create value for our shareholders."
"I decided to step down from the Company's leadership role after 11 years as a founding partner and CEO," stated Yossi Ben Yosef. "I am honored to have had the privilege to lead such an exceptional Company with a team of researchers who are determined to bring stem cell-based therapies to patients with serious diseases. I wish Rami great success and I am sure he will lead Kadimastem to its future achievements."
Rami Epstein brings many years of experience as an entrepreneur mainly in the biotech, pharmaceutical and high-tech industries. His main focus is on R&D companies, fund raising, M&As and strategic collaborations. Rami is co-founder of BiondVax Pharmaceuticals (Nasdaq: BVXV) and has served as a member of its Board of Directors for many years. Prior to founding BiondVax Rami also co-founded IDgene Pharmaceuticals, and has served as the Company's COO (VP of Operations) and as a member of its Board of Directors. Rami holds a master's degree (LL.M.) in commercial law and intellectual property from King's College, University of London, and a bachelor's degree (LL.B.) in law from the Hebrew University of Jerusalem.
Kadimastem is a clinical stage biotechnology company developing regenerative medicine therapies based on differentiated cells derived from Human Embryonic Stem Cells (hESCs) to treat neuro-degenerative diseases such as ALS, as well as diabetes. The Company's scientific founder is Professor Michel Revel of the Weizmann Institute of Science. Kadimastem is traded on the Tel Aviv Stock Exchange (TASE: KDST). Investors in the Company include Prof. Michel Revel, Julien Ruggieri, Avi Meizler and Altshuler Shaham Investment House.
Kadimastem was founded based on a patent protected technology that was developed at the Weizmann Institute of Science. Based on the Company's unique platform, Kadimastem is developing technologies for regenerative medicine, which repair and replace organs and tissue by using functioning cells differentiated from stem cells. The Company's platform technology is currently focused on transplanting healthy brain cells to support the survivability of nerve cells as cell therapy for ALS (Phase 1/2a clinical trial is ongoing), and transplanting insulin-secreting pancreatic cells for the treatment of insulin-dependent diabetes. The Company plans to apply its technological capabilities to provide regenerative treatments and solutions for additional diseases.
Forward Looking Statement
This document may include forward-looking information as defined in the Securities Law, 5728 – 1968. Forward-looking information is uncertain and mostly is not under the Company's control and the realization or non-realization of forward-looking information will be affected, among other things, by the risk factors characterizing the Company's activity, as well as developments in the general environment and external factors affecting the Company's activity. The Company's results and achievements in the future may differ materially from any presented herein and the Company makes no undertaking to update or revise such projection or estimate and does not undertake to update this document.
This document does not constitute a proposal to purchase the Company's securities or an invitation to receive such offers. Investment in securities in general and in the Company in particular bears risks. One should take into account that past performance does not necessarily indicate performance in the future.
Global Media Liaison