CORRECTING and REPLACING Paracrine Announces Appointment of Biotech Veteran David H. Crean, Ph.D. to the Board of Directors

SAN DIEGO–(BUSINESS WIRE)–Please replace the release with the following corrected version due to multiple revisions.

The updated release reads:

PARACRINE ANNOUNCES APPOINTMENT OF BIOTECH VETERAN DAVID H. CREAN, PH.D. TO THE BOARD OF DIRECTORS

Paracrine, Inc., a privately-held company developing its novel cell therapy platform in late-stage clinical trials in advanced wound care, announced today the appointment of David H. Crean, Ph.D. as an independent Director of the company.

“We are delighted to welcome Dr. Crean to the Paracrine Board,” said Christopher J. Calhoun, Chairman and CEO of Paracrine. “David’s board and advisory experiences in the healthcare and biotechnology fields will provide immense value to Paracrine as we continue to execute our strategy of developing safe, cost-effective cell therapies in the $21 billion wound care market.”

“I am happy to join Paracrine’s Board of Directors at this exciting time in the company’s development,” added David H. Crean, Ph.D. “Together with the team, I am looking forward to contributing to Paracrine’s clinical and commercialization strategy, achieving the company’s financing goals and successfully implementing our vision of providing urgently needed innovative therapeutic options in chronic wound care. I am particularly excited with our lead program in treating diabetic foot ulcers, where prior studies have demonstrated Paracrine’s cell therapy resulted in twice the wound closure rate of non-healing ulcers in half the time.”

David is Founder and Managing Partner of Cardiff Advisory LLC, an investment banking firm focused on providing strategic and financial advisory for M&A, partnering and capital financing transactions within the life sciences and healthcare sectors. David is also a Co-Founder and Managing General Partner of Equitos Venture Partners, a life sciences-focused investment firm with a goal to start deploying capital in 2022. In addition, David is an investment partner with Suncoast Venture Partners and Mesa Verde Venture Partners, two micro life science seed stage & incubator venture funds.

Dr. Crean currently serves as Chairman of the Board of Directors for Phoenix Molecular Designs, Lead Independent Director of Histogen, Inc. (Nasdaq: HSTO) and serves on the Board of Directors of California Life Sciences (Executive Committee), and BIOCOM (Chairman of Capital Development).

David is a contributing writer for PharmaBoardroom.com and Forbes.com. As a result of his trusted and outstanding advisory work, he has been awarded numerous recognitions including San Diego’s 500 Most Influential people in 2019 – 2021, 2020 Top Thought Leaders by Axial, M&A Advisor of the Year in 2019, and the 2018 Healthcare Hero Award.

David holds FINRA Series 79 and Series 63 licenses and is a Registered Investment Banking Representative of BA Securities LLC, Member FINRA SIPC. He holds a Doctorate of Philosophy (Ph.D.) Degree in Biophysics and a Masters of Science (MS) Degree in Oncology from the State University of New York at Buffalo. He earned a Bachelor of Science (BS) Degree in Biology/ Pre-Med from Canisius College. Additionally, he holds a Masters of Business Administration (MBA) Degree with a finance concentration from Pepperdine University Graziadio School of Management.

About Paracrine

Paracrine, Inc. is a biotechnology company committed to unlocking the potential of autologous stem cells for patients suffering from serious chronic illnesses by discovering, developing, and delivering innovative and effective human therapeutics. The company is advancing multiple late-stage clinical trials, initially targeting the $21 billion advanced wound care market segment. Paracrine’s device-enabled cell therapy platform bears the promise of cost-effectively addressing common underlying pathology of debilitating chronic diseases due to its multi-modal mechanisms of action.

Cautionary Statement Regarding Forward-Looking Statements

This press release includes forward-looking statements regarding events, trends and business prospects, which may affect our future operating results and financial position. Such statements are subject to risks and uncertainties that could cause our actual results and financial position to differ materially. Paracrine assumes no responsibility to update or revise any forward-looking statements contained in this press release to reflect events, trends or circumstances after the date of this press release.

Contacts

Media Contact


Richard Laermer

+1 646-517-4340

[email protected]

Investor Contact

Christopher Calhoun

+1 858-923-1200

[email protected]