RenovaCare, Inc. announced the termination of its July 1, 2020 Strategic Research and Development Agreement with StemCell Systems GmbH (SCS) and the closure of the RenovaCare R&D Innovation Center in Berlin, Germany. This decision ceases on-going development of the prototype for the closed, automated Cell Isolation Device and the portable, disposable SkinGun™ spray device. Development may resume at SCS or other Contract Manufacturing Organizations, upon the availability of adequate funds.

As previously announced, the Company has suspended patient enrollment in its clinical study (CELLMIST 1) for the evaluation of the safety and feasibility of the manual CellMist™ System and its electronic SkinGun™ spray device as an autologous stem cell treatment of adult burn patients. Patients previously enrolled and treated with RenovaCare therapies and technologies will continue to receive ongoing care as per the FDA protocol. The clinical study and IDE remain open for possible resumption, and enrollment in the study may continue if capital funding becomes available in the future, for which there can be no assurances.