Celcuity Announces Appointment of Leo Furcht to Board of Directors

MINNEAPOLIS–(BUSINESS WIRE)–Celcuity Inc. (NASDAQ: CELC) a functional cellular analysis company that
is discovering new cancer subtypes and commercializing diagnostic tests
designed to significantly improve clinical outcomes of cancer patients
treated with targeted therapies, today announced the appointment of Leo
Furcht, MD, to the Company’s Board of Directors, effective May 16, 2019.

“We are very pleased to have attracted Leo Furcht, MD, a leading cancer
researcher and pathologist, to join our Board. Leo’s research in tumor
cell behavior and extracellular matrix proteins, his service as Head of
the University of Minnesota’s Department of Laboratory Medicine and
Pathology, and his experience in several biotechnology start-ups will
provide a valuable perspective to Celcuity,” said Brian F. Sullivan,
Chairman and Chief Executive Officer of Celcuity.

Dr. Furcht is Allen-Pardee Professor of Cancer Biology and Head of the
Department of Laboratory Medicine and Pathology at the University of
Minnesota and a member of the Division of Molecular Pathology and
Genomics. He served as Chairman of the Board of Directors for University
of Minnesota Physicians, the Medical School practice plan with
approximately 700 physicians, from 2004-2014. He was also the founding
Director of the Biomedical Engineering Center from 1990-2001, where he
led efforts to establish stem cell and molecular diagnostics expertise
at the University of Minnesota. He has published more than 180
scientific papers and holds more than 30 patents in the fields of
polypeptides, biomaterials, and adult stem cells. His business
experience includes co-founding two medical technology companies, South
Bay Medical, a medical device company that was acquired by Mentor
Corporation, and Diascreen, a diagnostics company, which was later
acquired by Chronimed.

About Celcuity
We are a cellular analysis company that is
discovering new cancer sub-types and commercializing diagnostic tests
designed to significantly improve the clinical outcomes of cancer
patients treated with targeted therapies. Our proprietary CELx
diagnostic platform uses a patient’s living tumor cells to identify the
specific abnormal cellular activity driving a patient’s cancer and the
targeted therapy that can best treat that patient’s disease. Celcuity is
headquartered in Minneapolis, MN. Further information about Celcuity can
be found at www.celcuity.com.

Forward-Looking Statements
This press release contains
statements that constitute “forward-looking statements,” including the
anticipated benefits to the clinical outcomes of cancer patients.
Forward-looking statements are subject to numerous conditions, many of
which are beyond the control of Celcuity, which include, but are not
limited to, those set forth in the Risk Factors section of Celcuity’s
Annual Report on Form 10-K for the year ended December 31, 2018. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. Celcuity undertakes
no obligation to update these statements for revisions or changes after
the date of this release, except as required by law.

Contacts

Celcuity Inc.
Brian Sullivan, [email protected]

Vicky Hahne, [email protected]

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