The Board

Hi all,

@ZolRab touched on this the other day and I share the frustration and thought I’d elaborate and try give it the spot light it needs.

I think we can all agree that the company did not operate well during Ross’s time. I’d hoped a new CEO could have been appointed with plenty of experience, a good track record of commercial deals etc. However our COO was appointed. I don’t doubt Killian was doing a good job as COO but I’m doubtful he is what this company needs. It has been 4 months since his appointment and I’d hoped we would have seen some drastic changes, like some promotion and value added but unfortunately it appears to be more of the same.

Being at 12C with little to no interest I think all shareholders should be asking questions.

Was the board too comfortable to seek out a new CEO? With good salaries and no KPI’s why would they?

Does our chairman (appointed 2020) have shareholder interest at heart? It doesn’t seem so, and his track record of recent companies is far from impressive. ACW.. not doing too well either.

What’s Wotton (appointed 2016) doing? Who knows.

This board has had far too many commercial failures over the years, for anyone interested here’s a brief timeline of possible deals:

2016 - Regience K.K. - ’Strategic Alliance’ CYP rejected their investment offer without any real detail as to why.

2016-17 - Apceth - Failed to materialize a partnership.

2017-19 Fujifilm - Strategic partnership agreement. DELAYS and poor execution.

2018 Celularity - MOU. Never updated?

2019 Sumitomo - $2 offer failed to materialize, given no reasons as to why

The board does seem to have made good progress with clinical trials and patents, but it’s very clear they can’t execute commercial deals.

I’m not calling for Killian to leave the company, his experience is essential but I believe he would be best suited as COO whilst we bring in a CEO who can promote the company and execute commercial deals.

Thoughts and opinions welcome!