11 Nov BioRestorative Therapies Appoints Robert Kristal as Chief Financial Officer
MELVILLE, N.Y., Nov. 10, 2021 (GLOBE NEWSWIRE) — 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.
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.