Longeveron appoints Than Powell as chief business officer

MIAMI - Longeveron Inc. (NASDAQ:LGVN), a clinical-stage biotechnology company with a market capitalization of $19.21 million, has appointed Than Powell as Chief Business Officer effective July 7, 2025, according to a press release statement issued Thursday. According to InvestingPro data, the company maintains a strong liquidity position with a current ratio of 5.61, though analysts anticipate sales challenges ahead.

Powell will lead the clinical-stage biotechnology company’s business strategy, Alzheimer’s disease program partnering efforts, and international strategy for its hypoplastic left heart syndrome (HLHS) program.

The appointment comes as Longeveron recently completed enrollment in its pivotal Phase 2 trial evaluating laromestorcel, its stem cell therapy for HLHS. Top-line data from this trial is expected in approximately 13 months, which could potentially support the company’s first Biological License Application submission.

"Than’s experience across multiple pharmaceutical and biotechnology companies will help guide Longeveron’s efforts to build on the clinical success of laromestorcel to date," said Wa’el Hashad, Chief Executive Officer at Longeveron.

Powell brings over 25 years of pharmaceutical and biotech leadership experience from organizations including GSK and Eli Lilly. Prior to joining Longeveron, he led Corporate Development & Strategy for Surescripts, which was later acquired by TPG. He previously founded and served as CEO of Epulate, a venture-backed health technology company.

Longeveron is developing laromestorcel (Lomecel-B), an allogeneic mesenchymal stem cell therapy isolated from bone marrow of young adult donors. The company’s development programs have received multiple FDA designations, including Orphan Drug designation and Fast Track designation for both its HLHS and Alzheimer’s disease programs. Despite showing impressive revenue growth of 127.51% in the last twelve months, the company’s overall financial health score remains FAIR according to InvestingPro metrics.

In other recent news, Longeveron reported a significant decline in its Q1 2025 earnings, with revenues dropping by 30% compared to the same period last year. The company faced a net loss increase to $5 million from $4 million in the previous year, primarily due to reduced clinical trial revenues. Despite these financial challenges, Longeveron has completed enrollment in its Phase 2b clinical trial for Hypoplastic Left Heart Syndrome (HLHS), with top-line results expected in 2026. The FDA has granted laromestrocel multiple designations, including Orphan Drug and Fast Track, which could facilitate a smoother regulatory path if trial results are positive. Longeveron is also planning to submit a Biologics License Application in 2026, contingent on successful trial outcomes. Meanwhile, the company is actively seeking partnerships for its Alzheimer’s program, aiming to leverage positive clinical data published in reputable journals. Analyst firms such as ROTH Capital and H.C. Wainwright have shown interest in Longeveron’s strategic direction, particularly regarding its manufacturing capabilities and potential market opportunities.

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