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Paul Hastings Represents Caladrius Biosciences, Inc. in Sale of its Subsidiary PCT to Hitachi Chemical Co America, Ltd.

May 18, 2017

New York – Paul Hastings LLP, a leading global law firm, announced today that the firm represented Caladrius Biosciences, Inc., (

) a NASDAQ-listed clinical stage development company with a cell therapy pipeline focused on immune modulation and select cardiovascular indications, in the sale of its subsidiary PCT to Hitachi Chemical Co. America, Ltd.  Hitachi Chemical previously acquired a 19.9% stake in PCT, in March 2016. The agreement to purchase the remaining interest was announced on March 16, 2017, and closed on May 18, 2017.  The $75 million purchase price for the remaining interest in PCT valued the subsidiary at approximately $94 million; and the price paid at closing is subject to increase based on PCT’s total cumulative revenue in 2017-2018.

The Paul Hastings team was led by partner

and of counsel , and also included partners and , and associates , ,  Lu Wang and .

Caladrius intends to use the proceeds from this transaction for working capital and to fully eliminate the Company's outstanding debt.

At Paul Hastings, our purpose is clear — to help our clients and people navigate new paths to growth. With a strong presence throughout Asia, Europe, Latin America, and the U.S., Paul Hastings is recognized as one of the world’s most innovative global law firms.

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