10.10.2023 14:00:07 - dpa-AFX: GNW-Adhoc: Renovaro Biosciences Appoints Two Finance Industry Experts to Board of Directors
LOS ANGELES, Oct. 10, 2023 (GLOBE NEWSWIRE) -- Renovaro Biosciences Inc.
(NASDAQ: RENB)(Renovaro), an advanced, pre-clinical biotechnology firm in cell,
gene, and immunotherapy focused on solid tumors with short life expectancy, is
pleased to announce the appointment of Leni Boeren and Ruud Hendriks as
Independent Directors.
Renovaro recently announced a definitive agreement to combine with the advanced
AI Company GEDi Cube Intl Ltd. GEDiCube intends to rebrand as Renovaro AI, as
announced on September 29, 2023 (https://renovarobio.com/news/news-
details/2023/Renovaro-Biosciences-and-AI-Health-Company-GEDi-Cube-Sign-
Definitive-Agreement-to-Combine/default.aspx).
Both Leni and Ruud bring extensive, high-level experience in finance and
business.
Leni Boeren boasts a 40-year career in the financial sector, commencing with
banking roles at Paribas and Rabobank before holding several director-level
positions at Amsterdam Exchanges and then Euronext, the first pan-European stock
and derivatives exchange that resulted from the merger of exchanges in
Amsterdam, Paris, and Brussels. She then transitioned to asset management,
spending over a decade undertaking executive roles, culminating in CEO and
Chair, of international Robeco Groep N.V. She also held several board positions
with Robeco Group's subsidiaries, including Harbor Capital Advisors Inc. and
Boston Partners Global Investors Inc. in the US. After this, she served as CEO
of Kempen Capital Management. Leni currently holds non-executive positions with
NIBC Bank, Air France-KLM, Ohpen, and Mollie. She also holds several advisory
roles, including the Capital Market Committee of the Dutch regulator, the
Authority for the Financial Markets.
Ruud Hendriks brings over 35 years of experience in the asset management
industry, having held senior roles at some of the most established financial
institutions. This includes spending ten years at Goldman Sachs Asset
Management, which he joined as a managing director and became co-head of sales
for Europe, the Middle East, and Africa. Prior to this, he worked at Robeco
Group, including at Rodamco, the property fund of the Robeco Group, before
becoming Senior Vice President and Global Head of Institutional Sales at Robeco.
Other experience includes acting as senior advisor to KKR, Citi, Lombard Odier,
and a Non-Executive Director of Man Group plc. Ruud's current positions include
being a senior adviser to Pictet Group, a leading independent investment firm,
and Van Lanschot Kempen N.V., an independent wealth manager. He also advises
wealthy individuals next to being an Ambassador to Add Value Fund Management
B.V.
"On behalf of the Board, I am delighted to welcome Leni and Ruud as our newest
Independent Directors at this pivotal moment for our business," commented Rene
Sindlev, Chairman of Renovaro. "Their substantial experience in the capital
markets and asset management will bring invaluable financial and business
expertise as we advance towards commercialization."
"I am excited to join the Board for Renovaro Biosciences as it moves towards
combining with GEDiCube," said Leni Boeren. "I look forward to supporting the
company in unlocking the vast potential of the two companies. Together, we are
committed to spearheading advancements in the battle against cancer and other
diseases, harnessing cutting-edge AI technology and pioneering biotherapeutics."
"The intended combination of Renovaro and GEDiCube brings together two
innovative platforms in AI and biotherapeutics that will offer comprehensive
solutions to transform patient care," added Ruud Hendriks. "I am honored to be a
part of this journey that I believe will lead to the fundamental improvement of
patients and their families around the world."
ABOUT THE COMPANY
Renovaro has developed advanced cell, gene, and immunotherapy platforms designed
to renew the body's natural tumor-fighting capabilities against cancer and
infectious diseases. For more information on Renovaro, go to their website at
www.renovarobio.com (http://www.renovarobio.com).
Forward-Looking Statements
This communication contains "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. All statements, other than
statements of historical fact, included in this communication that address
activities, events, or developments that Renovaro or GEDi Cube expects, believes
or anticipates will or may occur in the future are forward-looking statements.
Words such as "estimate," "project," "predict," "believe," "expect,"
"anticipate," "potential," "create," "intend," "could," "would," "may," "plan,"
"will," "guidance," "look," "goal," "future," "build," "focus," "continue,"
"strive," "allow" or the negative of such terms or other variations thereof and
words and terms of similar substance used in connection with any discussion of
future plans, actions, or events identify forward-looking statements. However,
the absence of these words does not mean that the statements are not forward-
looking. These forward-looking statements include but are not limited to,
statements regarding the proposed Transaction, the expected closing of the
proposed Transaction and the timing thereof, and as adjusted descriptions of the
post-transaction company and its operations, strategies and plans, integration,
debt levels and leverage ratio, capital expenditures, cash flows and anticipated
uses thereof, synergies, opportunities, and anticipated future performance.
Information adjusted for the proposed Transaction should not be considered a
forecast of future results. There are a number of risks and uncertainties that
could cause actual results to differ materially from the forward-looking
statements included in this communication. These include the risk that cost
savings, synergies and growth from the proposed Transaction may not be fully
realized or may take longer to realize than expected; the possibility that
shareholders of Renovaro may not approve the issuance of new shares of Renovaro
common stock in the proposed Transaction; the risk that a condition to closing
of the proposed Transaction may not be satisfied, that either party may
terminate the Transaction Agreement or that the closing of the proposed
Transaction might be delayed or not occur at all; potential adverse reactions or
changes to business or employee relationships, including those resulting from
the announcement or completion of the proposed Transaction; the occurrence of
any other event, change or other circumstances that could give rise to the
termination of the stock purchase agreement relating to the proposed
Transaction; the risk that changes in Renovaro's capital structure and
governance could have adverse effects on the market value of its securities and
its ability to access the capital markets; the ability of Renovaro to retain its
Nasdaq listing; the ability of GEDi Cube to retain customers and retain and hire
key personnel and maintain relationships with their suppliers and customers and
on GEDi Cube's operating results and business generally; the risk the proposed
Transaction could distract management from ongoing business operations or cause
Renovaro and/or GEDi Cube to incur substantial costs; the risk that GEDi Cube
may be unable to reduce expenses; the impact of the COVID-19 pandemic, any
related economic downturn; the risk of changes in regulations effecting the
healthcare industry; and other important factors that could cause actual results
to differ materially from those projected. All such factors are difficult to
predict and are beyond Renovaro's or GEDi Cube's control, including those
detailed in Renovaro's Annual Reports on Form 10-K, Quarterly Reports on Form
10-Q and Current Reports on Form 8-K that are available on Renovaro's website at
www.renovarobio.com and on the website of the Securities and Exchange Commission
(the "SEC") at www.sec.gov. All forward-looking statements are based on
assumptions that Renovaro and GEDi Cube believe to be reasonable but that may
not prove to be accurate. Any forward-looking statement speaks only as of the
date on which such statement is made, and neither Renovaro nor GEDi Cube
undertakes any obligation to correct or update any forward-looking statement,
whether as a result of new information, future events or otherwise, except as
required by applicable law. Readers are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date hereof.
No Offer or Solicitation
This report is not intended to and shall not constitute an offer to sell or the
solicitation of an offer to sell or the solicitation of an offer to buy any
securities or a solicitation of any vote or approval, nor shall there be any
sale of securities in any jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the securities
laws of any such jurisdiction. No offer of securities shall be made except by
means of a prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended.
Important Additional Information Regarding the Merger Will Be Filed with the SEC
and Where to Find It
In connection with the proposed Transaction, Renovaro intends to file a proxy
statement (the "proxy statement"), and will file other documents regarding the
proposed Transaction with the SEC. INVESTORS AND SECURITYHOLDERS OF RENOVARO ARE
URGED TO CAREFULLY AND THOROUGHLY READ, WHEN THEY BECOME AVAILABLE, THE PROXY
STATEMENT, AS MAY BE AMENDED OR SUPPLEMENTED FROM TIME TO TIME, AND OTHER
RELEVANT DOCUMENTS FILED BY RENOVARO WITH THE SEC BECAUSE THEY WILL CONTAIN
IMPORTANT INFORMATION ABOUT RENOVARO, GEDI CUBE AND THE PROPOSED TRANSACTION,
THE RISKS RELATED THERETO AND RELATED MATTERS.
Once complete, a definitive proxy statement will be mailed to the stockholders
of Renovaro. Investors will be able to obtain free copies of the proxy
statement, as may be amended from time to time, and other relevant documents
filed by Renovaro with the SEC (when they become available) through the website
maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by
Renovaro, including the proxy statement (when it becomes available), will be
available free of charge from Renovaro's website at www.renovarobio.com under
the "Financials" tab.
Participants in the Solicitation
Renovaro and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the stockholders of Renovaro in
connection with the proposed Transaction. Information about Renovaro's directors
and executive officers is set forth in Renovaro's definitive proxy statement for
the 2023 annual meeting of stockholders filed with the SEC on May 16, 2023, and
the proxy statement (when it becomes available). Other information regarding the
interests of such individuals, as well as information regarding other persons
who may be deemed participants in the proposed Transaction, will be set forth in
the proxy statement and other relevant materials to be filed with the SEC when
they become available. Stockholders of Renovaro, potential investors, and other
readers should read the proxy statement carefully when it becomes available
before making any voting or investment decisions.
Contact: ir@renovarobio.com (mailto:ir@renovarobio.com)
Source: Renovaro Bioscience Inc.
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