Longeveron Inc. named Stephen H. Willard as its new chief executive officer, effective February 11, 2026. The appointment follows the interim leadership of Than Powell, who will transition to a business development role.
Willard brings a decade of executive experience from several biotechnology and pharmaceutical companies, including previous CEO positions at ICAPATH, NRx Pharmaceuticals and Cellphire. His track record in scaling clinical‑stage companies and securing strategic partnerships is expected to help Longeveron navigate the critical HLHS Phase 2b ELPIS II readout and expand its pipeline, which also includes laromestrocel for Alzheimer’s disease and pediatric dilated cardiomyopathy.
Longeveron has implemented aggressive cost‑cutting measures to extend its cash runway, including a 50 % compensation deferral for the CEO and executive chairman, employee furloughs, and reduced board fees. Current cash reserves are projected to support operations into late Q1 2026, underscoring the company’s focus on preserving capital while awaiting the HLHS readout.
The HLHS program has received Orphan Drug, Fast Track and Rare Pediatric Disease designations from the FDA, and a successful Phase 2b ELPIS II trial could support a Biologics License Application. Top‑line results are expected in the third quarter of 2026, and the company’s leadership change is intended to position Longeveron for a timely and successful regulatory submission.
Management emphasized the significance of the transition. Joshua Hare, executive chairman and chief science officer, said, “I am delighted to welcome Stephen as CEO, particularly at this exciting time in Longeveron’s history developing stem cell therapies addressing life‑threatening conditions in the most vulnerable populations – children and the elderly.” Willard added, “This is an extraordinary time for Longeveron and our stem cell therapy laromestrocel. It is an exciting opportunity to be able to join a company with three development programs at the stage of pivotal clinical trials. I look forward to working with the Longeveron team to ensure the long‑term success of laromestrocel while focusing on extending our capital runway, and working with potential partners to leverage our stem cell technology for the benefit of patients and shareholders.” Roger Hajjar, chair of the board’s nominating and corporate governance committee, noted, “On behalf of the Board and management team, I want to thank Than for his significant contributions over the past six months, stepping in to provide effective leadership and stability through this transition. We would also like to welcome Steven to his new role. We believe his extensive strategic operations and executive leadership experience will help drive Longeveron’s future success.”
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