- Longeveron selected as a Top 40 Semifinalist based on the feasibility of its stem cell therapy
- Stem cell therapy laromestorcel being evaluated as potential treatment for Alzheimer’s disease and HLHS, a rare pediatric disease and orphan-designated indication
MIAMI, May 12, 2025 (GLOBE NEWSWIRE) — Longeveron Inc. (NASDAQ: LGVN), a clinical stage regenerative medicine biotechnology company developing cellular therapies for life-threatening and chronic aging-related conditions, today announced that it has been selected as a Semi-Finalist Team and one of the Top 40 Teams receiving a $250,000 Milestone 1 Award in the XPRIZE Healthspan competition.
“We’re proud to be a Semifinalist team of XPRIZE Healthspan, a 7-year, $101 million global competition that aims to revolutionize the way we approach human aging,” said Wa’el Hashad, Chief Executive Officer of Longeveron. “We look forward to the next chapter of the competition as we continue to develop our stem cell therapy that we believe has the potential to have a significant impact for patients and their families, and extend healthy life.”
Mr. Hashad commented further, “Our stem cell therapy laromestorcel has delivered several positive initial results across 5 clinical trials in 3 indications – Alzheimer’s Disease, Aging-related Frailty, and Hypoplastic Left Heart Syndrome (HLHS), a rare pediatric and orphan-designated disease. Based on positive initial data, laromestorcel development programs have received five U.S. FDA designations: for the HLHS program – Orphan Drug designation, Fast Track designation, and Rare Pediatric Disease designation; and, for the Alzheimer’s Disease program – Regenerative Medicine Advanced Therapy (RMAT) designation and Fast Track designation.”
XPRIZE team applications were rigorously evaluated for scientific merit to identify the best, most feasible, and safe approaches to increase human healthspan. The top 100 Teams of more than 600 applicants across 58 countries are all considered Semifinalists, and presented a single or combination therapeutic approach that demonstrates feasibility and potential to restore or preserve muscular, cognitive, and immune function lost to age-related degradation by at least 10 years, with an ambitious goal of 20 years, and deliver their therapy in 1-year or less in adults aged 50-80 years who are free of major or life-threatening disease and disability. The Top 40 Milestone 1 Award-winning teams are each receiving $250,000 to help support them through the next phase of the competition. Semifinalists are eligible to compete in the Finals stage, with a potential milestone prize of $1 million. The grand prize will award between $61 million and $81 million to the winning team.
XPRIZE Healthspan
Increasing human life expectancy is one of the greatest breakthroughs in modern history. We have more than doubled the global average in the last 100 years, but the length of our healthy lives has not increased at the same rate.
XPRIZE Healthspan is a 7-year, $101 million global competition to revolutionize the way we approach human aging. Competing teams will develop and test therapeutics that restore muscle, cognition, and immune function by a minimum of 10 years with a goal of 20 years. For more information, please visit XPRIZE.org/healthspan.
About XPRIZE
XPRIZE is the recognized global leader in designing and executing large-scale competitions to solve humanity’s greatest challenges. For 30 years, our unique model has democratized crowd-sourced innovation and scientifically scalable solutions that accelerate a more equitable and abundant future. Donate, learn more, and co-architect a world of abundance with us at XPRIZE.org.
About Longeveron Inc.
Longeveron is a clinical stage biotechnology company developing regenerative medicines to address unmet medical needs. The Company’s lead investigational product is laromestrocel (Lomecel-B
Forward-Looking Statements
Certain statements in this press release that are not historical facts are forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, which reflect management’s current expectations, assumptions, and estimates of future operations, performance and economic conditions, and involve known and unknown risks, uncertainties, and other important factors that could cause actual results, performance, or achievements to differ materially from those anticipated, expressed, or implied by the statements made herein. Forward-looking statements are generally identifiable by the use of forward-looking terminology such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expects,” “intend,” “looks to,” “may,” “on condition,” “plan,” “potential,” “predict,” “preliminary,” “project,” “see,” “should,” “target,” “will,” “would,” or the negative thereof or comparable terminology, or by discussion of strategy or goals or other future events, circumstances, or effects and include, but are not limited to, statements about the various below-listed factors. Factors that could cause actual results to differ materially from those expressed or implied in any forward-looking statements in this release include, but are not limited to, our cash position and need to raise additional capital, the difficulties we may face in obtaining access to capital, and the dilutive impact it may have on our investors; our financial performance, and ability to continue as a going concern; the period over which we estimate our existing cash and cash equivalents will be sufficient to fund our future operating expenses and capital expenditure requirements; the ability of our clinical trials to demonstrate safety and efficacy of our product candidates, and other positive results; the timing and focus of our ongoing and future preclinical studies and clinical trials, and the reporting of data from those studies and trials; the size of the market opportunity for certain of our product candidates, including our estimates of the number of patients who suffer from the diseases we are targeting; our ability to scale production and commercialize the product candidate for certain indications; the success of competing therapies that are or may become available; the beneficial characteristics, safety, efficacy and therapeutic effects of our product candidates; our ability to obtain and maintain regulatory approval of our product candidates in the U.S. and other jurisdictions; our plans relating to the further development of our product candidates, including additional disease states or indications we may pursue; our plans and ability to obtain or protect intellectual property rights, including extensions of existing patent terms where available and our ability to avoid infringing the intellectual property rights of others; the need to hire additional personnel and our ability to attract and retain such personnel; and our estimates regarding expenses, future revenue, capital requirements and needs for additional financing.
Further information relating to factors that may impact the Company’s results and forward-looking statements are disclosed in the Company’s filings with the Securities and Exchange Commission, including Longeveron’s Annual Report on Form 10-K for the year ended December 31, 2024, filed with the Securities and Exchange Commission on February 28, 2025, its Quarterly Reports on Form 10-Q, and its Current Reports on Form 8-K. The Company operates in highly competitive and rapidly changing environment; therefore, new factors may arise, and it is not possible for the Company’s management to predict all such factors that may arise nor assess the impact of such factors or the extent to which any individual factor or combination thereof, may cause results to differ materially from those contained in any forward-looking statements. The forward-looking statements contained in this press release are made as of the date of this press release based on information available as of the date of this press release, are inherently uncertain, and the Company disclaims any intention or obligation, other than imposed by law, to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Investor and Media Contact:
Derek Cole
Investor Relations Advisory Solutions
derek.cole@iradvisory.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cfb4911d-2b0b-4c52-b2fa-b6982947155d
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