Celularity Inc. CEO Dr. Robert J. Hariri issued commentary following the Centers for Medicare & Medicaid Services’ $(CMS)$ recent withdrawal of Local Coverage Determinations (LCDs) for skin substitute products. Dr. Hariri welcomed the CMS action and clarified that Celularity’s Biovance® and Biovance 3L products remain eligible for Medicare coverage. Despite the LCD withdrawal, he noted that the new Medicare payment policy setting a flat reimbursement rate of $127.28 per square centimeter for skin substitutes will still take effect on January 1, 2026. Dr. Hariri emphasized Celularity’s efficient manufacturing processes and highlighted real-world evidence supporting the effectiveness of Biovance® in treating chronic wounds, noting published studies that demonstrate its benefits in diverse patient populations and its role in reducing steroid use.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Celularity Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9617189-en) on December 26, 2025, and is solely responsible for the information contained therein.