Lineage Cell Therapeutics (LCTX) Announces Board Changes

Lineage Cell Therapeutics, Inc. (NYSE American: LCTX) is saddened to report the passing of its long-serving Chairman of the Board of Directors, Mr. Alfred D. Kingsley, and offers its deepest condolences to Mr. Kingsley’s family for their loss. Mr. Kingsley served as Chairman of the Company’s Board of Directors since July 2009, and was a significant contributor in the evolution of the Company into a clinical-stage biotechnology company developing allogeneic cell therapies for unmet medical needs.

Effective as of April 27, 2024, Michael H. Mulroy, J.D., has been appointed by the Board of Directors to serve as the Chairman of the Board of Directors.

“We are incredibly saddened by Al’s passing and offer our thoughts, prayers, and support to the entire Kingsley family during this difficult time,” stated Michael H. Mulroy. “Al was exceptionally committed to Lineage and its shareholders, and brought great innovation, leadership, and dedication to others to his work. Al was not only a key contributor to the company from the beginning, but also set an example for all of us through his generosity to the community. It has been a privilege to serve alongside him on the Board and we look forward to continuing to build upon his legacy.”

Mr. Mulroy’s background includes experience as a biotech and biopharma corporate executive, and as a corporate attorney and investment banker. He has served as a member of the Board of Directors since 2014 and serves as Chair of the Compensation Committee and as a member of the Audit Committee and the Financial Strategy Committee. Mr. Mulroy brings extensive expertise across a number of operational and functional areas, including corporate finance and development, and clinical and strategic operations. He previously served as Chief Executive Officer and a member of the board of directors of Asterias Biotherapeutics, Inc. Prior to joining Asterias, Mr. Mulroy served as a Senior Advisor to CamberView Partners, LLC (now part of PJT Partners Inc.), which assists companies in connection with investor engagement and complex corporate governance issues. Prior to its sale in 2014, Mr. Mulroy served as Executive Vice President, Strategic Affairs and General Counsel of Questcor Pharmaceuticals, Inc. (QCOR), where he also previously served as Chief Financial Officer. Mr. Mulroy earned his J.D. degree from the University of California, Los Angeles and his B.A. degree in economics from the University of Chicago.

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