DURHAM, N.C., September 21, 2020 – Elo Life Systems, a food and agriculture company with a mission to improve human health and wellness, today announced that Alec Hayes, Ph.D., has joined Elo Life Systems as Vice President of Technology and Products. In his role, Alec will be responsible for Elo’s research and development pipeline and strategic expansion of Elo’s integrated suite of capabilities to enable accelerated product development.
“Through thoughtful analysis of opportunities and challenges in the industry, Elo has embarked on impactful programs of immediate relevance to human nutrition and the health of our planet,” commented Fayaz Khazi, Ph.D., Chief Executive Officer of Elo Life Systems. “Alec’s experience at the nexus of food and human health will be instrumental as we fast-track Elo’s pipeline and long-term vision.”
“With a product-ready genome editing platform, a world-class expertise in target discovery, and an end-to-end infrastructure that enables expedited trait validation, Elo is uniquely positioned to improve human health through rapid product development,” said Alec Hayes. “I look forward to joining the incredibly talented group at Elo, working to create sustainable production of a more nutritious, and climate-resilient food supply.”
Prior to joining Elo, Alec served as the Technical Director of Agricultural Technologies at The Coca-Cola Company in Atlanta. There, he helped drive long-term strategic opportunities in beverage innovation and address agricultural supply chain challenges. Prior to that, Alec held technical leadership roles at PepsiCo and Altria and brings over 20 years of industry experience in translational agriculture, developing plant-based strategies to advance consumer-focused product solutions. Alec holds a Ph.D. in plant molecular genetics from Virginia Tech.
About Elo Life Systems, Inc.
Elo’s mission is to create novel products that enhance the nutrition and diversity of the global food supply. To address agricultural needs, Elo partners with stakeholders in the food systems value chain to bridge gaps and meet needs across agricultural productivity, nutritional demand, food security, climate-resilience, and human wellness. Elo Life Systems, Inc. is a wholly owned subsidiary of Precision BioSciences, Inc. (NASDAQ: DTIL). To learn more about Elo Life Systems please visit www.elolife.ag.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding the Company’s timing of, results from and information involving the Company’s clinical trials involving PBCAR269A, and details of our manufacturing process and the expected benefits of producing clinical trial material at the Company’s in-house manufacturing facility. In some cases, you can identify forward-looking statements by terms such as “anticipate,” “believe,” “could,” “designed to”, “expect,” “should,” “plan,” “intend,” “estimate,” “target,” “mission,” “may,” “will,” “would,” “should,” “could,” “target,” “project,” “predict,” “contemplate,” “potential,” or the negative thereof and similar words and expressions.
Forward-looking statements are based on management’s current expectations, beliefs and assumptions and on information currently available to us. Such statements are subject to a number of known and unknown risks, uncertainties and assumptions, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various important factors, including, but not limited to: our ability to become profitable; our ability to procure sufficient funding and requirements under our current debt instruments and effects of restrictions thereunder; risks associated with raising additional capital; our operating expenses and our ability to predict what those expenses will be; our limited operating history; the success of our programs and product candidates in which we expend our resources; our limited ability or inability to assess the safety and efficacy of our product candidates; our dependence on our ARCUS technology; the initiation, cost, timing, progress, achievement of milestones and results of research and development activities, preclinical or greenhouse studies and clinical or field trials; public perception about genome editing technology and its applications; competition in the genome editing, biopharmaceutical, biotechnology and agricultural biotechnology fields; our or our collaborators’ ability to identify, develop and commercialize product candidates; pending and potential liability lawsuits and penalties against us or our collaborators related to our technology and our product candidates; the U.S. and foreign regulatory landscape applicable to our and our collaborators’ development of product candidates; our or our collaborators’ ability to obtain and maintain regulatory approval of our product candidates, and any related restrictions, limitations and/or warnings in the label of an approved product candidate; our or our collaborators’ ability to advance product candidates into, and successfully design, implement and complete, clinical or field trials; potential manufacturing problems associated with the development or commercialization of any of our product candidates; our ability to obtain an adequate supply of T cells from qualified donors; our ability to achieve our anticipated operating efficiencies at our manufacturing facility; delays or difficulties in our and our collaborators’ ability to enroll patients; changes in interim “top-line” and initial data that we announce or publish; if our product candidates do not work as intended or cause undesirable side effects; risks associated with applicable healthcare, data protection, privacy and security regulations and our compliance therewith; the rate and degree of market acceptance of any of our product candidates; the success of our existing collaboration agreements, and our ability to enter into new collaboration arrangements; our current and future relationships with and reliance on third parties including suppliers and manufacturers; our ability to obtain and maintain intellectual property protection for our technology and any of our product candidates; potential litigation relating to infringement or misappropriation of intellectual property rights; our ability to effectively manage the growth of our operations; our ability to attract, retain, and motivate key executives and personnel; market and economic conditions; effects of system failures and security breaches; effects of natural and manmade disasters, public health emergencies and other natural catastrophic events effects of the outbreak of COVID-19, or any pandemic, epidemic or outbreak of an infectious disease; insurance expenses and exposure to uninsured liabilities; effects of tax rules; risks related to ownership of our common stock and other important factors discussed under the caption “Risk Factors” in our Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2020, as any such factors may be updated from time to time in our other filings with the SEC, including, but not limited to, our Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2020, which are accessible on the SEC’s website at www.sec.gov and the Investors & Media page of our website at investor.precisionbiosciences.com.
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