Asterias Biotherapeutics Gets New President and CEO

Asterias Biotherapeutics Inc. (NYSEMKT:AST) announced that Stephen L. Cartt has been appointed president and CEO of the company, and has also been added to the company’s board of directors. Don M. Bailey has also been added to Asterias’ board of directors.
As quoted in the press release:

Mr. Bailey, who previously served as President and Chief Executive Officer of Questcor Pharmaceuticals Inc. until its sale for $5.6 billion in 2014 to Mallinckrodt, plc, was named Chairman of the Board of Directors of Asterias. Both appointments are effectively immediately. Mr. Cartt replaces Pedro Lichtinger, who served as President, CEO and a member of the Board of Directors since June 2014. Mr. Bailey succeeds Alfred D. Kingsley as Chairman. Mr. Kingsley will remain on the Asterias Board of Directors.

Kingsley said:

Steve Cartt and Don Bailey have superb track records of creating substantial shareholder value over time by building successful, high growth pharmaceutical businesses, advancing products through the development process, and commercializing therapies that address conditions with high unmet therapeutic needs. In addition, Steve and Don have an extraordinary history of success working together to build significant shareholder value. Our Board is excited that both Steve and Don are joining Asterias in its efforts to realize the full potential of its AST-VAC1, AST-VAC2, and AST-OPC1 clinical programs. The Board also wishes to thank Pedro Lichtinger for his leadership through a crucial phase of the Company’s development.

Click here to read the full Asterias Biotherapeutics Inc. (NYSEMKT:AST) press release.