Celyad Announces Management Change
05 December 2023 - 12:34AM
Business Wire
Regulatory News:
Celyad Oncology (Euronext: CYAD) (Brussels:CYAD) (Paris:CYAD)
(NASDAQ:CYAD), a cutting-edge biotechnology company dedicated to
pioneering the discovery and advancement of revolutionary
technologies for chimeric antigen receptor (CAR) T-cells announces
that its CEO and managing director Georges Rawadi has decided to
step down, effective as of Friday December 1, 2023.
Georges has taken this decision for personal reasons. Michel
Lussier will take over the CEO responsibilities ad interim. Michel
is co-founder and member of the board of Directors of Celyad
Oncology.
Hilde Windels, Chair of Celyad Oncology, commented: “We thank
Georges for his efforts and dedication to make this pivotal year a
success, following Celyad’s change in strategy since last year. We
wish him every success in the future.”
The company’s primary objective is to unlock the potential of
its proprietary technology platforms and intellectual property,
enabling to be at the forefront of developing next-generation CAR
T-cell therapies. By fully leveraging its innovative technology
platforms, Celyad Oncology aims to maximize the transformative
impact of its candidate CAR T-cell therapies and redefine the
future of CAR T-cell treatments.
Michel Lussier, interim CEO, commented: “We are grateful for the
work that Georges has done and I look forward to working closer
with the team again in this interim period. I am confident about
the company’s future: the science is great, we have cash in the
bank and we have been very successful in our efforts to address the
limitations of CAR-T. Hence, we are ready to engage in value adding
partnering discussions.”
About Celyad Oncology
Celyad Oncology is a biotechnology company focused on the
discovery and development of innovative technologies chimeric
antigen receptor (CAR) T-cell therapies. The Company is focusing on
opportunities to fully harness the true potential of its
proprietary technology platforms and intellectual property and
support the development of next-generation CAR T candidates in
solid tumors and hematological malignancies. Celyad Oncology is
based in Mont-Saint-Guibert, Belgium and New York, NY. For more
information, please visit www.celyad.com.
Celyad Oncology Forward-Looking Statement
This release may contain forward-looking statements, within the
meaning of applicable securities laws, including the Private
Securities Litigation Reform Act of 1995, as amended, including,
without limitation, statements regarding beliefs about and
expectations for the Company’s updated strategic business model,
including associated costs, cost savings and timing. The words
“will,” “expect,” “believe,” “potential,” “continue,” “target” and
similar expressions are intended to identify forward-looking
statements, although not all forward-looking statements contain
these identifying words. Any forward-looking statements in this
release are based on management’s current expectations and beliefs
and are subject to a number of known and unknown risks,
uncertainties and important factors which might cause actual
events, results, financial condition, performance or achievements
of Celyad Oncology to differ materially from those expressed or
implied by such forward-looking statements. Such risks and
uncertainties include, without limitation, risks related to the
material uncertainty about the Company’s ability to continue as a
going concern; the Company’s ability to realize the expected
benefits of its updated strategic business model; the Company’s
ability to develop its IP assets and enter into partnerships with
outside parties; risks related to the Company’s ability to execute
on its plans regarding its clinical programs; and other risks
identified in Celyad Oncology’s U.S. Securities and Exchange
Commission (SEC) filings and reports, including in the latest
Annual Report on Form 20-F filed with the SEC and subsequent
filings and reports by Celyad Oncology. These forward-looking
statements speak only as of the date of publication of this
document and Celyad Oncology’s actual results may differ materially
from those expressed or implied by these forward-looking
statements. Celyad Oncology expressly disclaims any obligation to
update any such forward-looking statements in this document to
reflect any change in its expectations with regard thereto or any
change in events, conditions or circumstances on which any such
statement is based, unless required by law or regulation.
Source: Celyad Oncology SA
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version on businesswire.com: https://www.businesswire.com/news/home/20231201054507/en/
Celyad Oncology Investor and Media Contact: David Georges
VP of Finance and Administration Celyad Oncology
investors@celyad.com
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