ProKidney Appoints Bruce Culleton, MD, as Executive Vice President, Clinical Development and Commercialization

- Brings more than 20 years of academic and industry experience with extensive expertise in kidney disease -

WINSTON-SALEM, N.C., July 17, 2023 (GLOBE NEWSWIRE) -- ProKidney Corp. (NASDAQ:PROK) ("ProKidney" or the "Company"), a leading late clinical-stage cellular therapeutics company focused on chronic kidney disease (CKD), today announced the appointment of Bruce Culleton, MD, as Executive Vice President, Clinical Development and Commercialization. Dr. Culleton, who will report to Chief Executive Officer Tim Bertram, joins ProKidney after more than two decades in industry and academia with a primary focus on kidney health.

Tim Bertram, Chief Executive Officer of ProKidney, said: "I am thrilled to welcome Bruce to the ProKidney team. His extensive experience in the identification and management of CKD and development of novel solutions for CKD patients will be invaluable as we continue advancing the development of REACT® toward a potential commercial launch. I look forward to working closely with Bruce to optimally position each of our ongoing clinical studies for successful outcomes and preparing for ProKidney's anticipated shift to a commercial organization."

Dr. Culleton joins ProKidney from CVS Kidney Care, a wholly owned subsidiary of CVS Health, where he was most recently Vice President and General Manager. Previously, he served as Vice President and Chief Medical Officer at CVS Kidney Care. Before joining CVS Health, he was Vice President, Global Clinical Development and World Wide Vice President, Medical Affairs, Medication and Procedural Solutions at Becton Dickinson; and previously Vice President, Renal Therapeutic Area at Baxter Healthcare. Prior to beginning his industry career in 2007, Dr. Culleton was a Clinical Associate Professor, Department of Medicine at the University of Calgary.

Dr. Culleton holds a Bachelor's degree in Medical Science and a Doctor of Medicine degree from Memorial University of Newfoundland; and a Master's degree in Business Administration from Northwestern University, Kellogg School of Management. He completed a specialization in Internal Medicine and Nephrology through the Royal College of Physicians and Surgeons of Canada, as well as a fellowship in Clinical Epidemiology at Boston University, Framingham Heart Study.

Dr. Culleton added, "With Phase 3 clinical development well underway and initial interim data expected in late 2024, ProKidney is rapidly approaching an important inflection point. I am excited to work with Tim and the rest of the team as we continue advancing our mission of improving the lives of patients with CKD."

About ProKidney

ProKidney, a pioneer in the treatment of CKD through innovations in cellular therapy, was founded in 2018 after a decade of research. ProKidney's lead product candidate, REACT^® (Renal Autologous Cell Therapy), is a first-of-its-kind, patented, proprietary autologous cellular therapy with the potential to preserve kidney function in patients at high risk of kidney failure. Late-stage CKD patients, Stage 3b - 4, are a key target population for REACT therapy. REACT has received Regenerative Medicine Advanced Therapy (RMAT) designation, as well as FDA and EMA guidance, supporting its ongoing Phase 3 clinical program that launched in January 2022. For more information, visit www.prokidney.com.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. ProKidney's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's expectations with respect to financial results, future performance, development and commercialization of products, if approved, the potential benefits and impact of the Company's products, if approved, potential regulatory approvals, the size and potential growth of current or future markets for the Company's products, if approved, the advancement of the Company's development programs into and through the clinic and the expected timing for reporting data, the making of regulatory filings or achieving other milestones related to related to the Company's product candidates, and the advancement and funding of the Company's developmental programs generally. Most of these factors are outside of the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the inability to maintain the listing of the Company's Class A ordinary shares on the Nasdaq; the inability to implement business plans, forecasts, and other expectations or identify and realize additional opportunities, which may be affected by, among other things, competition and the ability of the Company to grow and manage growth profitably and retain its key employees; the risk of downturns and a changing regulatory landscape in the highly competitive biotechnology industry; the inability of the Company to raise financing in the future; the inability of the Company to obtain and maintain regulatory clearance or approval for its products, and any related restrictions and limitations of any cleared or approved product; the inability of the Company to identify, in-license or acquire additional technology; the inability of Company to compete with other companies currently marketing or engaged in the biologics market and in the area of treatment of kidney diseases; the size and growth potential of the markets for the Company's products, if approved, and its ability to serve those markets, either alone or in partnership with others; the Company's estimates regarding expenses, future revenue, capital requirements and needs for additional financing; the Company's financial performance; the Company's intellectual property rights; uncertainties inherent in cell therapy research and development, including the actual time it takes to initiate and complete clinical studies and the timing and content of decisions made by regulatory authorities; the fact that interim results from our clinical programs may not be indicative of future results; the impact of COVID-19 or geo-political conflict such as the war in Ukraine on the Company's business; and other risks and uncertainties included under the heading "Risk Factors" in the Company's most recent Annual Report on Form 10-K, subsequent Quarterly Reports on Form 10-Q and other filings with the Securities and Exchange Commission. The Company cautions readers that the foregoing list of factors is not exclusive and cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Contacts:

Corporate:

Glenn Schulman, PharmD, MPH

SVP, Investor Relations

[email protected]

Investors:

Burns McClellan

Lee Roth / Julia Weilman

[email protected] / [email protected]

Media:

Burns McClellan

Selina Husain / Robert Flamm, Ph.D.

[email protected] / [email protected]