Calyxt Announces Strategic Hires in Business Development and Manufacturing

Continued investment in key hires to strategically position Company for future growth and scale

ROSEVILLE, Minn., April 26, 2022 /PRNewswire/ -- Calyxt, Inc. (Nasdaq: CLXT), a plant-based synthetic biotechnology company, yesterday welcomed the second of two director-level hires in areas critical to the continued advancement of the Company's key technology and business development goals.

The first hire was Ms. Suellen Boot who joined as Business Development Director earlier in April. Ms. Boot brings more than twenty years of business development expertise to Calyxt, where she will lead partnerships, deal structuring, valuation modeling, transaction execution and alliance management for the Company's key target markets. The second hire is Ms. Elizabeth Teigland who joined today as Manufacturing Director. Ms. Teigland brings over 15 years of chemistry and purification expertise to Calyxt. She will be responsible for leading and managing the optimization of the Company's BioFactory Production System and play a significant role in helping to facilitate pilot to commercial scale production of the of customer demand-driven compounds.

"I am pleased to welcome Suellen and Elizabeth to Calyxt," said Michael. A Carr, President and Chief Executive Officer at Calyxt. "Their arrivals are critical for advancing two of our near-term revenue streams: business development and BioFactory commercialization. Each of these talented individuals bring unique skills that equip our company for increased growth and momentum.

Utilizing its PlantSpring™ technology platform, Calyxt strives to enable customers to create products using plant-based ingredients that can be used to help customers meet their sustainability goals. "Suellen's experience is well aligned with our strategy to deliver plant-based synthetic biotechnology solutions to target customers in the identified key end markets of cosmeceuticals, nutraceuticals, and pharmaceuticals," Mr. Carr continued. "Furthermore, Elizabeth's experience in portfolio management for innovation, commercialization, and product development will bolster our plant chemistry manufacturing and production capabilities. Both hires are important steps in executing on our business plan and key milestone achievements."

Ms. Boot most recently served as Managing Director, Natural Innovation & Operation at Green Line. Prior to that, she served as VP Sales & Marketing at Bio Component Research, and Global Manager, Technical Marketing at Lonza Consumer Care and at Arch Personal Care Products. Previously, Ms. Boot held several marketing manager and global product roles at Croda Inc., GE Advanced Materials, and Brooks Industries, Inc. Ms. Boot holds a B.S. in Biochemistry from St. Andrews Presbyterian College.

Ms. Teigland joins Calyxt from Agropour Ingredients, where she served as Director of Protein Research and led a cross-functional, global team with ingredient and reliable method development. Prior to that, she served as Research Scientist at Saputo Dairy Foods USA, and as Field Application Specialist at m2p-labs GmbH. Previously, Ms. Teigland held various biotechnology and chemistry roles at Cargill, Inc. Ms. Teigland holds a B.S. in Biochemistry and Chemistry from University of Iowa and a M.S. in Chemistry and Microbiology from University of Oregon.  

About Calyxt

Calyxt (Nasdaq: CLXT) is a plant-based synthetic biotechnology company. The Company leverages its proprietary PlantSpring™ technology platform to engineer plant metabolism to produce innovative high value plant-based chemistries for use in customers' materials and products. As plant-based solutions, the Company's synthetic biology products can be used in helping customers meet their sustainability targets and financial goals. Calyxt's diversified offerings are primarily delivered through its proprietary BioFactory™ production system. For more information, visit www.calyxt.com.

PlantSpring, BioFactory, Plant Cell Matrix™, and the Calyxt ® logo are trademarks of Calyxt, Inc. Any other trademarks belong to their respective owners.

Forward-Looking Statements

This communication contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify these statements by forward-looking words such as "anticipates," "believes," "continue," "estimates," "expects," "intends," "may," "might," "plans," "predicts," "projects," "should," "targets," "will," or the negative of these terms and other similar terminology. Forward-looking statements in this press release include statements about the Company's future financial performance, including its cash runway; its product pipeline and development; its business model and strategies for the development, commercialization and sales of commercial products; commercial demand for its synthetic biology solutions; the development and deployment of its PlantSpring technology platform; its ability to deploy and leverage its artificial intelligence and machine learning (AIML) capabilities; the ability to scale production capability for its BioFactory production system; potential development agreements, partnerships, customer relationships, and licensing arrangements and their contribution to its financial results, cash usage, and growth strategies; the potential impact of the COVID-19 pandemic on its business and operating results; and anticipated trends in its business. These and other forward-looking statements are predictions and projections about future events and trends based on the Company's current expectations, objectives, and intentions and are premised on current assumptions. The Company's actual results, level of activity, performance, or achievements could be materially different than those expressed, implied, or anticipated by forward-looking statements due to a variety of factors, including, but not limited to: the impact of increased competition, including competition from a broader array of synthetic biology companies; competition for customers, partners, and licensees and the successful execution of development and licensing agreements; disruptions at its key facilities, including disruptions impacting its BioFactory production system; flaws in AIML algorithms, insufficiency of data inputs required by such algorithms, and human error in interacting with AIML; changes in customer preferences and market acceptance of its products; changes in market consensus as to what attributes are required for a product to be considered "sustainable"; the impact of adverse events during development, including unsuccessful pilot production of plant-based chemistries or field trials; the impact of improper handling of its product candidates during development; failures by third-party contractors; inaccurate demand forecasting or milestone and royalty payment projections; the effectiveness of commercialization efforts by commercial partners or licensees; disruptions to supply chains, including raw material inputs for its BioFactory; the impact of changes or increases in oversight and regulation; disputes or challenges regarding intellectual property; proliferation and continuous evolution of new technologies; management changes; dislocations in the capital markets; the severity and duration of the evolving COVID-19 pandemic and the resulting impact on macro-economic conditions; and other important factors discussed under the caption entitled "Risk Factors" in the Company's Annual Report on Form 10-K. Any forward-looking statements made by management of the Company are based only on currently available information and speak only as of the date of this communication. Except as otherwise required by securities and other applicable laws, the Company does not assume any obligation to publicly provide revisions or updates to any forward-looking statements, whether as a result of new information, future developments or otherwise, should circumstances change, except as otherwise required by law.

SOURCE Calyxt, Inc.