FREMONT, Calif., Nov. 17, 2016 /PRNewswire/ -- Asterias Biotherapeutics, Inc. (NYSE MKT: AST), a biotechnology company pioneering the field of regenerative medicine, today announced the appointment of Ryan Chavez to the position of Chief Financial Officer. In his expanded role, Mr. Chavez, who will also retain the title of General Counsel, will oversee all financial aspects of the company. Mr. Chavez will continue to report to Asterias' President and Chief Executive Officer Steve Cartt. Mr. Chavez joined Asterias in July 2016 as its Executive Vice President of Finance and General Counsel.
"Since Ryan joined Asterias earlier this year, he has provided strong financial and legal leadership for Asterias," said Mr. Cartt. "Ryan's financial and legal background and prior experience within the healthcare industry will continue to be instrumental as we further execute on our strategy to advance the clinical progress of our therapeutic candidates. He has quickly become a key member of our leadership team, and we look forward to Ryan's many contributions in the years ahead."
Prior to joining Asterias, Mr. Chavez was Vice President and General Counsel of Mallinckrodt's Autoimmune and Rare Disease Division. Before joining Mallinckrodt in August 2014, he 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.
About Asterias Biotherapeutics
Asterias Biotherapeutics, Inc. is a biotechnology company pioneering the 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 neurology and oncology. 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) is undergoing continuing development by Asterias after demonstrating promise in a Phase 2 study in Acute Myeloid Leukemia (AML) and completing a successful end-of-Phase 2 meeting with the FDA. The company is currently focused on streamlining and modernizing the manufacturing process for AST-VAC1 in advance of a planned initiation of a confirmatory phase 2b 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 1/2a clinical trial of AST-VAC2 in non-small cell lung cancer in the first half of 2017. Additional information about Asterias can be found at www.asteriasbiotherapeutics.com.
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.
SOURCE Asterias Biotherapeutics, Inc.