RepliCel Provides Corporate Update
Company Focus on Transformational MilestonesVANCOUVER, BC / ACCESSWIRE / November 28, 2022 / RepliCel Life Sciences Inc. (TSXV:RP)(OTC PINK:REPCF) ("RepliCel" or the "Company"), a company developing next-generation technologies in aesthetics and …
Company Focus on Transformational Milestones
VANCOUVER, BC / ACCESSWIRE / November 28, 2022 / RepliCel Life Sciences Inc. (TSXV:RP)(OTC PINK:REPCF) ("RepliCel" or the "Company"), a company developing next-generation technologies in aesthetics and orthopedics, is pleased to provide the following corporate update.
Dear Shareholders and Stakeholders,
RepliCel is pleased to announce that Andrew Schutte has accepted the role of President and CEO. Mr. Schutte has served as a Director and been a member of both the Science and Operations Committees since 2018.
"Many of us at the company have revolved our lives around ensuring these products get to market," Schutte stated. "RepliCel can transform the quality of life for patients by creating a functional cure for hair loss, providing treatment for UV damaged aging skin, and treating chronic tendinosis. I also believe the company is poised for success in 2023, and executing on our milestones holds the promise to create immense shareholder value. RepliCel's treatments can validate regenerative medicine as a panacea for common ailments, which will drive growth across the cell therapy space."
RepliCel's current President and CEO has resigned these roles and will work with the Board on an ongoing basis. The Company thanks Mr. Buckler for his past service and ongoing commitment to the Company's success.
Kevin McElwee, co-founder and Chief Science Officer has agreed to oversee a robust and expanding set of research initiatives. In addition, Ben Austring has been appointed Chief Legal Officer and Operations Manager. "Ben and Kevin are invaluable assets to the company, having worked regularly with them as a member of the Operations and Science Committee. I am excited to continue working with them in my new role," Schutte stated. "The Operations Committee, comprised of David Hall, Peter Lowry and myself will continue to support day to day operations."
"The Company is positioned to advance on near term events and revenue generating opportunities which can drive shareholder value. It is exciting to lead the Company through such a defining period," Schutte stated.
The Company is happy to provide updates on key areas of focus: RCH-01, DermaPrecise™, Financing, RCT-01, RCS-01, and Research and Development.
Arbitration with Shiseido - On October 18, 2021 RepliCel filed an arbitration claim seeking Shiseido's return of the license and all collaboration data and innovations related to its cell therapy treatment for male and female pattern hair loss. On December 21, 2021 the Company announced it had legally terminated the Agreement with Shiseido. RepliCel and Shiseido have submitted their Statement of Claim and Statement of Defense, respectively. A round of procedural orders in November culminated in a Hearing date having been set for May 29, 2023; a ruling from the tribunal is expected by or before Q4 2023. The company continues to be represented by top international law firm, Aceris Law, and outstanding legal advisors. "With an excellent legal team, a positive resolution to the ongoing proceedings with Shiseido remain a top priority for the company," Schutte stated.