Biostage appoints Board member Jerry Lee as Chairman and CEO

– USA, MA –  Biostage, Inc. (OTC: BSTG), a clinical-stage biotechnology company, today announced the appointment of current Board member Jerry He as Board Chairman and CEO, effective March 1st, 2023, replacing David Green who remains on the Board of Directors.

About Jerry Lee

Mr. He was the Executive Vice-Chairman of Bright Scholar Education Holdings Limited (NYSE: BEDU) until February 2023. Before such promotion in January 2019, Mr. He had served as the CEO of Bright Scholar since October 2015. Before joining Bright Scholar, Mr. He was a Managing Director at TStone Corp, and he also served as CFO, CEO, and director of Noah Education Holdings Ltd., a former NYSE-listed private education services provider in China, from July 2009 to December 2011. Mr. He was a portfolio manager at Morgan Stanley Global Wealth Management from June 2008 to June 2009 and was employed by Bear Stearns from July 2006 to May 2008. Mr. He also had extensive experience working with pharmaceutical and biotech companies when he was a management consultant.

Mr. He said, “On behalf of the board, I thank Mr. Green for leading Biostage to the clinical stage for and his support in my transition to the new role. I look forward to this exciting opportunity to work with our partners and employees to bring our regenerative medicine to patients with unmet medical needs. We will execute with excellence for our plan of clinical trials, capital raising, and up-listing, and deliver superior value to our shareholders.”

Jerry, He obtained a bachelor’s degree in Chemistry from Peking University and a Master’s degree in Chemistry, MBA with Honors from the University of Chicago. Mr. He is also a CFA charter holder.

About Biostage.

We are a clinical-stage biotechnology company developing regenerative-medicine treatments for disorders of the gastrointestinal system and the airway resulting from cancer, trauma, or birth defects. Our technology is based on our proprietary cell-therapy platform that uses a patient’s stem cells to regenerate and restore function to damaged organs. We believe that our technology represents a next-generation solution for restoring organ function because it allows the patient to regenerate their organ, thus eliminating the need for the human donor or animal transplants, the sacrifice of another of the patient’s organs or permanent artificial implants.

We conducted the world’s first successful regeneration of the esophagus in a patient with esophageal cancer in August 2017. This surgery was performed by Dr. Denis Wigle, Chair of Thoracic Surgery at the Mayo Clinic. The results were published in the Journal of Thoracic Oncology Clinical and Research Reports in August 2021. The procedure demonstrated that our technology was able to successfully regenerate esophageal tissue, including the mucosal lining, to restore the integrity, continuity, and functionality of the esophageal tube.

Biostage has 12 issued U.S. patents, 2 issued in China, and 2 orphan-drug designations by the FDA which can provide seven years of market exclusivity in addition to any exclusivity granted by patents.

For more information: https://biostage.com/

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