Successful Annual General Meeting Confirms
Director Slate for 2020
VANCOUVER, Dec. 23, 2019 /CNW/ - RepliCel Life Sciences
Inc. (OTCQB: REPCF) (TSXV: RP) (FRA:P6P2) ("RepliCel" or the
"Company"), a company developing next-generation technologies in
aesthetics and orthopedics, is pleased to announce the
election and appointment of its incoming Board of Directors.
At the Company's annual general meeting held December 18, 2019, the nominated slate of
directors was successfully elected by the Company's shareholders.
The re-elected directors are David
Hall, Peter Lowry,
Andrew Schutte, Peter Lewis, Larissa
Huang, and Lee Buckler.
Chairman David Hall also announced
at the meeting the Board's intention to increase the number of
directors to seven and immediately appoint Zhan (Gavin) Ye to the Board which is now
in-process.
"As RepliCel expands the development of its products
internationally with a particular focus on Asia, we anticipate Mr. Ye will be a valuable
addition to RepliCel's Board of Directors," stated RepliCel's Board
Chairman, David Hall. "Gavin has
deep cross-border experience between Canada and Hong
Kong, China, Singapore,
South Korea, and Taiwan, which we anticipate will play an
instrumental role in RepliCel's business activities in Asia both with our existing partners and new
partnerships being explored."
"I am pleased the shareholders have endorsed our director slate
and, by proxy, our go-forward strategy as expressed in my recent
update," stated RepliCel CEO, R. Lee
Buckler. "While annual general meetings are often not
granted much significance, we considered this meeting, in
particular, to be a critical endorsement of our strategic plan
particularly by our major shareholders including our strategic
partner in China, YOFOTO
(China) Health. We look forward to
great things coming out of our collaboration in Greater China in the coming year including
market launch of our dermal injector in Hong Kong and approval to launch clinical
trials of our skin and tendon products in China."
About Zhan (Gavin)
Ye
Gavin has a Bachelor's of Science from the
Technical University of Delft (The
Netherlands) and a Bachelor's of Science for the
University of Victoria (Canada). His Canadian work experience since
2011 has taken him through positions in Calgary (Alberta), Saskatoon (Saskatchewan), and Victoria (British
Columbia) in the financial services sector, the commodity
exchange industry, and most recently in international product
development and brand building driven by deep data analytics.
About RepliCel Life Sciences
RepliCel is a
regenerative medicine company focused on developing cell therapies
for aesthetic and orthopedic conditions affecting what the Company
believes is approximately one in three people in industrialized
nations, including aging/sun-damaged skin, pattern baldness, and
chronic tendon degeneration. These conditions, often
associated with aging, are caused by a deficit of healthy cells
required for normal tissue healing and function. These cell therapy
product candidates are based on RepliCel's innovative technology,
utilizing cell populations isolated from a patient's healthy hair
follicles.
The Company's product pipeline is comprised of RCT-01 for tendon
repair, RCS-01 for skin rejuvenation, and RCH-01 for hair
restoration. RCH-01 is exclusively licensed in Asia to Shiseido Company. RepliCel and
Shiseido are currently co-developing the product in Japan. RepliCel maintains the rights to RCH-01
for the rest of the world. RCT-01 and RCS-01 are exclusively
licensed in Greater China to
YOFOTO (China) Health Company.
RepliCel and YOFOTO are currently co-developing these products in
China. RepliCel maintains the
rights to these products outside of Greater China.
RepliCel has also developed a proprietary injection device,
RCI-02, and related consumables, which is expected to improve the
administration of its cell therapy products and certain other
injectables. YOFOTO has exclusively licensed the commercial rights
for the RCI-02 device and consumables in Greater China for dermatology applications and
is expected to first launch the product in Hong Kong upon it being CE marked. Please
visit www.replicel.com for additional information.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
This press release contains forward-looking statements and
information that involve various risks and uncertainties regarding
future events, including, but not limited to, statements
regarding: as the Company expands the development of its
products internationally with a particular focus on Asia, it anticipates Mr. Ye will be a valuable
addition to the Company's Board of
Directors; the Company anticipates that Mr. Ye's
deep cross-border experience between Canada and Hong
Kong, China, Singapore,
South Korea, and Taiwan will play an instrumental role in
RepliCel's business activities in Asia both with the Company's existing partners
and new partnerships being explored; the Company
looks forward to great things coming out of its collaboration in
Greater China in the coming year
including market launch of its dermal injector in Hong Kong and approval to launch clinical
trials of our skin and tendon products in China; the Company's
product pipeline, comprised of RCT-01 for tendon repair, RCS-01 for
skin rejuvenation, and RCH-01 for hair
restoration; the Company's proprietary injection
device, RCI-02, is expected to improve the administration of its
cell therapy products and certain other
injectables; and that YOFOTO is expected to
first launch the product in connection with the RCI-02 device and
consumables in Hong Kong upon it
being CE marked.
Forward-looking statements are based on certain assumptions
regarding the Company and anticipated benefits from the new
director's experience. While the Company considers these
assumptions to be reasonable, based on information currently
available, they may prove to be incorrect. Readers are cautioned
not to place undue reliance on forward-looking statements.
In addition, forward-looking statements are only
predictions and involve known and unknown risks which may cause
actual results and the Company's plans and objectives to differ
materially from those expressed in the forward-looking statements,
including: risks related to YOFOTO spending the
required amounts on RepliCel's programs and related
infrastructure over the next 5 years in Greater China; risks related to YOFOTO
not completing its stated goals;
risks that the Company's
products may not perform as, or have the benefits,
expected; risks that the Company's
products may not be accepted and
adopted by the public; the risk that the Company will not
obtain CE mark clearance for its injector device as
anticipated or at all; the risk that there will be delays
enrolling clinical trial participants or commencing any clinical or
research programs as anticipated or at all; the risk that the
Company will receive negative results from the Company's clinical
trials; the effects of government regulation on the Company's
business; risks associated with the Company obtaining all necessary
regulatory approvals for its various programs; risks associated
with the Company's ability to obtain and protect rights to its
intellectual property; risks and uncertainties associated with the
Company's ability to raise additional capital; and other factors
beyond the Company's control. Although the Company believes that
the expectations reflected in the forward-looking statements are
reasonable, it cannot guarantee future results, levels of activity
or performance. Further, any forward-looking statement speaks only
as of the date on which such statement is made and, except as
required by applicable law, the Company undertakes no obligation to
update any forward-looking statement to reflect events or
circumstances after the date on which such statement is made or to
reflect the occurrence of unanticipated events. New factors emerge
from time to time, and it is not possible for management to predict
all of such factors and to assess in advance the impact of such
factors on the Company's business or the extent to which any
factor, or combination of factors, may cause actual results to
differ materially from those contained in any forward-looking
statement. Readers should consult all of the information set forth
herein and should also refer to the risk factor disclosure outlined
in the Company's annual report on Form 20-F for the fiscal year
ended December 31, 2018 and other
periodic reports filed from time-to-time with the Securities and
Exchange Commission on Edgar at www.sec.gov and with the British
Columbia Securities Commission on SEDAR at www.sedar.com.
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SOURCE RepliCel Life Sciences Inc.