NEW YORK, June 27, 2016 (GLOBE NEWSWIRE) -- Caladrius Biosciences (Nasdaq:CLBS), a cell therapy company combining an industry-leading development and manufacturing services provider (PCT, LLC, a Caladrius company) with a select therapeutic development pipeline announces that Robert A. Preti, Ph.D., the Company’s Chief Technology Officer, Senior Vice President, Manufacturing and Technical Operations, and President of PCT, has been named Chairman of the Alliance for Regenerative Medicine (ARM), the international advocacy organization representing the gene and cell therapies and broader regenerative medicine sector. Dr. Preti has served as Vice Chairman of ARM since January 2015 and succeeds Edward Lanphier as Chairman.
Previous to his role as Vice Chairman, Dr. Preti was Executive Committee member and co-chair of the Science and Technology Committee at ARM. As Vice Chair, Dr. Preti has been responsible for the support and promotion of ARM’s global strategy aimed at increasing funding for research and the commercial development of advanced gene- and cell-based therapies, as well as addressing industry issues around regulatory science and reimbursement that will support marketing approval and subsequent commercial acceptance of safe and effective regenerative medicine products.
“It has been a rewarding experience working with ARM both since its founding and in an executive capacity in recent years, and I’m excited to continue that relationship by serving as Chairman,” said Dr. Preti. “ARM’s dedication to advancing regenerative medicine and cell therapies and to bringing its stakeholders together is unprecedented, and aligns with PCT’s own vision of contributing to a world in which transformative cell-based therapeutics are accessible to all patients in need.”
“With this transition, we welcome Bob’s expanded leadership role at ARM as our new chairman,” said Morrie Ruffin, managing director, ARM. “He brings deep knowledge of the organization, unparalleled experience as a leader in the cell and gene therapy sectors and a keen understanding of the clinical and commercial requirements for success.”
Dr. Preti is co-founder of PCT and the visionary behind its successful growth and development over much of the last two decades. Dr. Preti founded PCT to meet a recognized need for high quality manufacturing and development services in an emerging industry. His leadership has been instrumental in creating PCT’s client-focused model that helps bridge the gap between discovery and patient care through efficient transfer of cell-based therapies from laboratory to clinical practice to commercialization.
Before founding PCT, Dr. Preti held a number of positions within the cellular therapy and blood banking fields. In addition, Dr. Preti has served on the Stem Cell Banking Committee and Cord Blood Subcommittee of the New York State Department of Health and on the New Jersey State Department of Health’s Blood Bank Advisory Committee, chairing the Hematopoietic Progenitor Cell Processing Subcommittee. He has served in a leadership capacity for many professional organizations, including Treasurer and founding member of the International Society of Hematotherapy and Graft Engineering, now called ISCT (International Society for Cellular Therapy). He has published and presented extensively on a variety of topics relating to cellular therapies. He recently completed a five-year term as a director for AABB (formerly the American Association of Blood Banks).
About the Alliance for Regenerative Medicine
The Alliance for Regenerative Medicine is the preeminent global advocate for regenerative and advanced therapies. ARM fosters research, development, investment and commercialization of transformational treatments and cures for patients worldwide.
By leveraging the expertise of its membership, ARM empowers multiple stakeholders to promote legislative, regulatory and public understanding of, and support for, this expanding field.
Based in Washington, DC, ARM promotes legislative, regulatory, reimbursement, investment, technical and other initiatives to accelerate the development of safe and effective regenerative medicine technologies. ARM also works to increase public understanding of the field and its potential to transform human healthcare. Today ARM has more than 240 members and is the leading global advocacy organization in this field.
About Caladrius Biosciences
Caladrius Biosciences, Inc., through its subsidiary, PCT, is a leading development and manufacturing partner to the cell therapy industry. PCT works with its clients to overcome the fundamental challenges of cell therapy manufacturing by providing a wide range of innovative services including product and process development, GMP manufacturing, engineering and automation, cell and tissue processing, logistics, storage and distribution, as well as expert consulting and regulatory support. PCT and Hitachi Chemical Co., Ltd. have entered into a strategic global collaboration to accelerate the creation of a global commercial cell therapy development and manufacturing enterprise with deep engineering expertise. Around the core expertise of PCT, Caladrius strategically develops select product candidates, which currently includes an innovative therapy for type 1 diabetes based on a proprietary platform technology for immunomodulation. For more information, visit www.caladrius.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. All statements other than statements of historical fact contained in this press release are forward-looking statements. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the “Risk Factors” described in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”) on March 15, 2016, and in the Company’s other periodic filings with the SEC. The Company’s further development is highly dependent on, among other things, future medical and research developments and market acceptance, which are outside of its control.