Stephen L. Cartt has been appointed president and chief executive officer and member of the board of directors, Asterias Biotherapeutics, Inc. Mr. Cartt replaces Pedro Lichtinger, who served in these roles since June 2014.

Mr. Cartt began his career in the pharma industry at ALZA Corp., where he held a variety of R&D and commercial positions. He also served as senior director of strategic marketing at Elan Pharmaceuticals before joining Questcor in 2005. At Questcor, he served as executive vice president and chief business officer prior to being appointed chief operating officer in 2012. After the acquisition of Questcor in August 2014, Mr. Cartt served in a transitional role as chief operating officer of Mallinckrodt’s AutoImmune and Rare Diseases Business Unit until October 2014.

“Steve Cartt has a superb track record of creating substantial shareholder value over time by building successful, high growth pharmaceutical businesses, advancing products through the development process, and commercializing therapies that address conditions with high unmet therapeutic needs,” said Mr. Kingsley. “Our Board is excited that Steve is joining Asterias in its efforts to realize the full potential of its AST-VAC1, AST-VAC2, and AST-OPC1 clinical programs. The Board also wishes to thank Pedro Lichtinger for his leadership through a crucial phase of the Company’s development.”