BioRestorative Therapies Appoints Robert Kristal as Chief Financial Officer
November 10 2021 - 6:00AM
BioRestorative Therapies, Inc. (the “Company") (NASDAQ:BRTX), a
life sciences company focused on adult stem cell-based therapies,
today announced that it has appointed Robert Kristal to the
position of Chief Financial Officer. Mr. Kristal brings an
extensive array of strategic and financial markets experience to
the Company, including a background in advising global public life
sciences companies in corporate finance, operations management
systems, and strategic collaborations.
Mr. Kristal is an experienced and versatile Wall
Street and Bay St. professional who has built teams in both
institutional sales and equity research at firms which have
developed a notable presence in healthcare research and capital
market activities. Most recently he served as the Head of Research
for H.C. Wainwright, growing their research product and presence in
the biotech/biopharma space. Mr. Kristal has been involved in
numerous transactions in investment and merchant banking and has
extensive experience in providing strategic advice and dealing with
investors and corporate management.
“Robert brings a deep understanding of financial
strategy, capital markets and business development to
BioRestorative. We are delighted to have him as a member of
BioRestorative’s executive leadership team. His appointment comes
at a time of significant company opportunity as we enter our next
phase of growth and seek to initiate our clinical trials. His
business and financial expertise will be instrumental in helping us
to further develop the Company and in communicating with the public
markets,” said Lance Alstodt, Chief Executive Officer of
BioRestorative Therapies.
“I am very pleased to be joining BioRestorative
following its restructuring into a debt-free life sciences company
and at this exciting stage of its clinical development. The Company
is developing promising therapies with the potential to change the
lives of patients who have significant unmet medical needs,” said
Mr. Kristal. “I look forward to helping the Company maximize its
strategic and financial objectives, accelerate growth and enhance
value for our shareholders.”
About BioRestorative
Therapies, Inc.
BioRestorative Therapies, Inc.
(www.biorestorative.com) develops therapeutic products using cell
and tissue protocols, primarily involving adult stem cells. Our two
core programs, as described below, relate to the treatment of
disc/spine disease and metabolic disorders:
• Disc/Spine Program (brtxDISC™): Our lead cell
therapy candidate, BRTX-100, is a product formulated from
autologous (or a person’s own) cultured mesenchymal stem cells
collected from the patient’s bone marrow. We intend that the
product will be used for the non-surgical treatment of painful
lumbosacral disc disorders or as a complementary therapeutic to a
surgical procedure. The BRTX-100 production process utilizes
proprietary technology and involves collecting a patient’s bone
marrow, isolating and culturing stem cells from the bone marrow and
cryopreserving the cells. In an outpatient procedure, BRTX-100 is
to be injected by a physician into the patient’s damaged disc. The
treatment is intended for patients whose pain has not been
alleviated by non-invasive procedures and who potentially face the
prospect of surgery. We have received authorization from the Food
and Drug Administration to commence a Phase 2 clinical trial using
BRTX-100 to treat chronic lower back pain arising from degenerative
disc disease.
• Metabolic Program (ThermoStem®): We are
developing a cell-based therapy candidate to target obesity and
metabolic disorders using brown adipose (fat) derived stem cells to
generate brown adipose tissue (“BAT”). BAT is intended to mimic
naturally occurring brown adipose depots that regulate metabolic
homeostasis in humans. Initial preclinical research indicates that
increased amounts of brown fat in animals may be responsible for
additional caloric burning as well as reduced glucose and lipid
levels. Researchers have found that people with higher levels of
brown fat may have a reduced risk for obesity and diabetes.
Forward-Looking Statements
This press release contains "forward-looking
statements" within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act
of 1934, as amended, and such forward-looking statements are made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. You are cautioned that such
statements are subject to a multitude of risks and uncertainties
that could cause future circumstances, events or results to differ
materially from those projected in the forward-looking statements
as a result of various factors and other risks, including, without
limitation, those set forth in the Company's latest Form 10-K filed
with the Securities and Exchange Commission. You should consider
these factors in evaluating the forward-looking statements included
herein, and not place undue reliance on such statements. The
forward-looking statements in this release are made as of the date
hereof and the Company undertakes no obligation to update such
statements.
CONTACT:
Email: ir@biorestorative.com
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