Celularity Inc. (NASDAQ: CELU) announced the appointment of Rick Gonzalez as chief commercial officer, according to a shareholder letter from Chief Executive Officer Robert Hariri.

The cellular medicine company completed a transaction with NexGel Inc. to out-license commercial assets of its biomaterials business for up to $30 million. The deal eliminated approximately $13 million in recorded liabilities and allows Celularity to focus on placental-derived cellular therapy programs.

Celularity is concentrating resources on cenplacel-L, a placental-derived allogeneic cell therapy developed from postpartum placental tissue. The company reports physician interest in the therapy and expects revenue growth in 2026 driven by increasing physician participation in Florida.

The company maintains a collaboration with Fountain Life, whose physician network focuses on longevity and proactive health. Celularity operates manufacturing infrastructure and inventory to support anticipated demand for cenplacel-L.

Celularity continues development of CYNK-001, a natural killer cell program being evaluated as a senoblative therapy. The company previously studied cenplacel-L under the designations PDA-001 and PDA-002 across multiple indications.

Hariri acknowledged challenges facing the company, including debt obligations and capital constraints in a demanding funding environment. Celularity is evaluating strategic partnerships, non-dilutive capital sources, and geographic expansion opportunities in markets with supportive regulatory frameworks.

The company emerged as a spin-off from Celgene at the end of 2017 and has generated revenue from placental biomaterials, contract development and manufacturing services, biobanking services, and cenplacel-L sales.