RenovaCare Appoints Interim President and CEO

RenovaCare Inc. is reshuffling its executive leadership to account for Chairman, CEO, and President Alan Rubino’s retirement.  

The Board of Directors has appointed Kaiyo Nedd, M.D., to serve as interim president and CEO and Harmel S. Rayat to serve as chairman. Both Nedd and Rayat will serve as members of the Board of Directors.

“I am proud of all that has been accomplished at RenovaCare with our management team during my leadership tenure,” stated Rubino. “I wish the company and its shareholders continued success as it prepares to commence its initial clinical studies.”
 
To ensure an orderly management transition, Rubino will continue to provide consulting services to the company, its senior management staff and the team of contract bioengineers, M.D.-Ph.D.s, cell biologists, and support staff at Renovacare’s R&D Innovation Center in Berlin, Germany. 
 
Nedd has been a practicing medical doctor for more than 20 years in Vancouver, British Columbia. He was educated at the University of British Columbia, Howard University, and the College of Medicine in Washington, D.C., before undertaking emergency medicine rotation training at Harvard University Brigham and Women’s Hospital and family practice residency training at St. Paul’s Hospital in Vancouver, completing the same in 2002.
 
Since 2002, Nedd has acted as medical director of West End Medical Centre in Vancouver, which has provided him with broad patient exposure, involvement in several clinical trials, and regular participation on pharmaceutical company advisory boards. In recent years, Nedd’s focus has been on chronic pain and mental health and has had deep clinical experience with the use of cannabinoids and in the management of these conditions and continues to keep abreast of ongoing clinical research, as well as digital health care solutions and telemedicine.
 
Nedd has served on the board of Doctors of BC, which founded in 1900 and is an association of 14,000 physicians and medical students. During his tenure between 2013 and 2017, he created and oversaw the development of new health delivery systems and negotiated with government and private agencies for the financing of new initiatives.
 
Rayat has been a long-time majority stockholder and financial supporter of RenovaCare. Through his family office, Kalen Capital Corporation, he has invested more than $20 million since 2013.
 
Rayat’s support has been key to advancing the SkinGun spray device and CellMist System from an unpatented technology to a technology platform with eight patent families, numerous peer reviewed articles and conditional U.S. Food and Drug Administration approval of its Investigational Device Exemption application to conduct a clinical trial to evaluate safety and feasibility. Rayat previously served the company in a variety of capacities, including, at various times, as its president and CEO, chairman, and as a board member.
 
Beginning his career in the financial industry as a messenger and mailroom clerk in a stock brokerage firm in 1981, Rayat has since invested in a wide range of businesses and sectors, ranging from auto wreckers and alternative energy to raw land and artificial livers.
 
In recent years, and in addition to commercial real estate in Canada and the United States, Rayat has narrowed his focus to impact investing. His stated goal is to help inventors, entrepreneurs, and scientists to create and commercialize products and technologies that will have a beneficial impact on society at large.

RenovaCare develops patented technologies for spraying self-donated stem cells for the regeneration of organs and tissues.