Celularity Releases CEO Letter to Shareholders
Celularity CEO Robert Hariri released a letter to shareholders outlining a strategic pivot toward longevity and placental-derived cellular therapies, specifically cenplacel-L. The company completed a transaction with NexGel to out-license its biomaterials business for up to $30 million, which also eliminated approximately $13 million in recorded liabilities.
Key figures
- Liability reduction
- $13 million
- Nex Gel consideration
- $30 million
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