Wednesday September 2nd 2020

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Promethera® Biosciences SA, global innovator in cell-based medicines and liver diseases, based in Wallonia, Belgium, today announced that John Tchelingerian, PhD, has resigned from his position as Chief Executive Officer (“CEO”) and member of the Board of Directors, effective 27 August 2020. Bertrand Lellouche has stepped down from his position of Promethera® Group Chief Financial Officer (“CFO”).

A new executive committee has been installed to ensure the continuity and to implement the strategy of the company going forward. Three board members, Zimeng Dong, Alain Parthoens, and Etienne Sokal have been appointed to an executive committee which will collectively exercise the function of CEO.

Charles L. Dimmler III, has resigned from his position of Chairman of the Board of Directors. Prof. Etienne Sokal, MD, PhD, founder of Promethera® and board member, has been elected as Chairman of the board, with effect on September 1st, 2020.

"The new management and the Board of Directors are committed to pursue the development of Promethera® for the best interest of patients, employees and shareholders. Together we strongly believe in the capacity of HepaStem™ as a lifesaving treatment for patients with severe loss of liver function, who would otherwise require liver transplantation.said Prof. Etienne Sokal.