Caladrius Biosciences Announces Management And Board Changes

BASKING RIDGE, N.J., Oct. 08, 2015 (GLOBE NEWSWIRE) -- Caladrius Biosciences, Inc. (NASDAQ:CLBS) ("Caladrius"), a company combining a leading cell therapy service provider with a therapeutics pipeline including a Phase 3 clinical program in immuno-oncology and a portfolio of earlier clinical phase projects in immune modulation and ischemic repair, announces the promotions of Joseph Talamo from Vice President, Corporate Controller and Chief Accounting Officer to Chief Financial Officer and Todd Girolamo, Esq. from Vice President, Legal to General Counsel. In addition, the Company announces that Robert S. Vaters, is no longer serving as an employee of the Company and has resigned from the Company's board of directors.

"Bob Vaters joined Caladrius in January 2015 to help me accelerate the Company's near-term organizational and strategic evolution. He has been instrumental in identifying and affecting multiple changes that have contributed to the Company's new course. We greatly appreciate the contributions he made and wish him continued success in his future endeavors," said David J. Mazzo, Ph.D., Chief Executive Officer of Caladrius Biosciences.

"We are delighted to promote Joe and Todd, both experienced executives who have demonstrated their leadership, competence and diligence in the execution of their duties. I am confident each will continue to contribute meaningfully to the Company's success as we expand our leadership position as the premier cell therapy service provider and advance our pipeline of clinical development programs," added Dr. Mazzo.

Joseph Talamo

Mr. Talamo joined Caladrius in 2011. He is a versatile finance executive with leadership experience in publicly-traded development and commercial-stage companies, along with a strong background in SEC compliance. He has led companywide forecasting, planning and analysis activities, including for M&A, and has had extensive experience with integrating transactions and raising capital. At Caladrius, Mr. Talamo has been responsible for numerous financial functions including SEC reporting, forecasting, planning and analysis, cash management and accounting.

Prior to joining Caladrius, from 1996 to 2010 Mr. Talamo held various senior positions at OSI Pharmaceuticals, Inc., a publicly-traded biopharmaceutical company focused on cancer, diabetes and obesity, most recently as Vice President and Corporate Controller. At OSI, Mr. Talamo helped build the accounting and finance infrastructure to support the clinical development and commercial launch of Tarceva®, OSI's targeted therapy approved by the FDA for the treatment of patients with non-small cell lung cancer and pancreatic cancer. Prior to OSI, Mr. Talamo worked at Bristol-Myers Squibb from 1995 to 1996 in the Financial Reporting and Consolidations Group, and at KPMG from 1993 to 1995 in the Health Care and Life Sciences Audit Group.

Mr. Talamo received a Bachelor of Business Administration in Accounting from Hofstra University and a Master of Business Administration in Finance from Hofstra University. Mr. Talamo is a certified public accountant in the State of New York.

Todd Girolamo

Todd Girolamo joined Caladrius in 2011. He is a seasoned attorney specializing in health-related products and businesses. As a member of the Caladrius senior management team, Mr. Girolamo has been responsible for managing all legal aspects of the Company's research and development pipeline, from preclinical research to multinational pivotal clinical trials, including academic and corporate collaborations. He has been responsible for the Company's licensing activities, the strategy, maintenance and prosecution of the Company's extensive global patent estate and the management of all litigation involving the Company and its subsidiaries.

Mr. Girolamo began his legal career as an associate at Cahill Gordon & Reindel, and concluded his tenure in private practice at Reid & Priest, where he gained expertise as a general commercial litigator, practicing in the areas of intellectual property, securities law, employment law and bankruptcy. In addition to over a decade of experience as both corporate counsel and private practitioner, Mr. Girolamo spent 12 years on Wall Street where he specialized in therapeutic healthcare equity securities at Oppenheimer & Co., CIBC World Markets, Leerink Swann & Company and Summer Street Research Partners.

Mr. Girolamo received a Bachelor of Arts from Harvard College, a Juris Doctor from the University of Pennsylvania Law School and a Master of Business Administration from Columbia Business School.

About Caladrius Biosciences

Caladrius Biosciences, Inc. is among the first of a new breed of immunotherapy companies with proven expertise and unique experience in cell process optimization, development and manufacturing. Caladrius combines a leading cell therapy service provider with a development pipeline including late-stage clinical programs based on proprietary platform technology for immuno-oncology, as well as additional platform technologies for ischemic repair and immunomodulation. This integrated approach supports the industry in bringing significant life-improving medical treatments to market.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy, the Company's ability to develop and grow its business, the successful development of cellular therapies with respect to the Company's research and development and clinical evaluation efforts in connection with the Company's Immuno-oncology Program, Ischemic Repair Program, Immune Modulation Program and other cell therapies, the future of the regenerative medicine industry and the role of stem cells and cellular therapy in that industry, and the performance and planned expansion of the Company's wholly-owned subsidiary and its center of excellence for cell therapy process development, engineering and manufacturing, PCT, as well as its efforts to expand its capabilities into the cell therapy tools market. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 2, 2015, and in the Company's other periodic filings with the SEC. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside of its control.

CONTACT: Investor Relations: LHA Investor Relations Anne Marie Fields Senior Vice President Phone: +1-232-838-8377 Email: [email protected] Media: Caladrius Biosciences, Inc. Eric Powers Manager of Communications and Marketing Phone: +1-212-584-4173 Email: [email protected]