Talaris Therapeutics Announces Leadership Transition
May 26 2023 - 7:00AM
Talaris Therapeutics, Inc. (Nasdaq: TALS), today announced the
appointment of Mary Kay Fenton as interim Chief Executive Officer
and President effective as of today. Ms. Fenton, who will continue
as Talaris’s Chief Financial Officer, succeeds Chief Executive
Officer Scott Requadt who will be leaving the Company as part of a
planned workforce reduction, as previously announced by the
Company.
“On behalf of the board, I would like to thank Scott for his
unwavering commitment to patients and to Talaris over the past
four and a half years,” said Francois Nader, MD, Chairman of the
Talaris Therapeutics Board of Directors. “I welcome Mary Kay in her
new role and look forward to working more closely with her to
oversee the ongoing review of strategic alternatives for
Talaris.”
Talaris is currently conducting a comprehensive review of
strategic alternatives focused on maximizing shareholder value,
including possible business combinations and/or a divestiture of
the Company’s cell therapy CMC capabilities. The Company has not
set a timetable for completion of this strategic review and does
not intend to comment further on the status of this process unless
or until its Board of Directors has approved a definitive course of
action, or it is determined that other disclosure is appropriate.
There can be no assurance that this strategic review will result in
Talaris pursuing a transaction or that any transaction, if pursued,
will be completed on attractive terms.
About Talaris TherapeuticsTalaris Therapeutics,
Inc. is a cell therapy company developing an innovative method of
allogeneic hematopoietic stem cell transplantation (“allo-HSCT”),
called Facilitated Allo-HSCT Therapy. The Company maintains
corporate offices in Boston, Massachusetts, a laboratory in
Houston, Texas and its cell processing facility in Louisville,
Kentucky.
Cautionary Note Regarding Forward-Looking
Statements This press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995, as amended, including, without limitation,
implied and express statements regarding Talaris Therapeutics,
Inc.’s (“Talaris,” the “Company,” “we,” or “our”) strategy,
business plans and focus; statements regarding Talaris’ plans to
explore and evaluate strategic options and take other actions to
extend and maximize its resources; expectations regarding the
intended benefit and cost savings from its planned restructuring
and expectations regarding Talaris’ use of capital, expenses and
other financial results. Any forward-looking statements in this
press release are based on management’s current expectations and
beliefs and are subject to a number of risks, uncertainties and
important factors that may cause actual events or results to differ
materially from those expressed or implied by any forward-looking
statements contained in this press release, including, without
limitation, risks associated with: volatility and uncertainty in
the capital markets for biotechnology companies; Talaris’ ability
to execute its planned exploration and evaluation of strategic
alternatives; availability of suitable third parties with which to
conduct contemplated strategic transactions; whether Talaris will
be able to pursue a strategic transaction, or whether any
transaction, if pursued, will be completed on attractive terms;
whether Talaris’ restructuring plans will provided the intended
benefit and cost savings. These and other risks and uncertainties
are described in greater detail in the section entitled “Risk
Factors” in the Company’s Quarterly Report on Form 10-Q for the
quarter ended March 31, 2023, as well as any subsequent filings
with the Securities and Exchange Commission. In addition, any
forward-looking statements represent Talaris’ views only as of
today and should not be relied upon as representing our views as of
any subsequent date. Talaris explicitly disclaims any obligation to
update any forward-looking statements. No representations or
warranties (expressed or implied) are made about the accuracy of
any such forward-looking statements.
Investor ContactChris BrinzeyICR
Westwickechris.brinzey@westwicke.com(339)
970-2843
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