Biostage, Inc. announced that effective as of March 1, 2023, its existing director since November 2021, Mr. Jerry He, was appointed as Chief Executive Officer. Mr. He replaces David Green who is transitioning from such roles and will remain on the Board of Directors. Mr. Green will provide support to Mr. He during his transition to the Chief Executive Officer role.

Mr. He was the Executive Vice Chairman of Bright Scholar Education Holdings Limited until February 2023. Prior to such promotion in January 2019, Mr. He had served as the CEO of Bright Scholar since October 2015. Prior to joining Bright Scholar, Mr. He was a Managing Director at TStone Corp, and he also served as CFO, CEO and a director of Noah Education Holdings Ltd., a former NYSE listed private education services provider in China, from July 2009 to December 2011.

Mr. He was a portfolio manager at Morgan Stanley Global Wealth Management from June 2008 to June 2009 and was employed by Bear Stearns from July 2006 to May 2008. Mr. He also had extensive experience working with pharmaceutical and biotech companies when he was a management consultant. Mr. He obtained a bachelor's degree in Chemistry from Peking University and a Master's degree in Chemistry, MBA with Honors from the University of Chicago.

Mr. He is also a CFA charter holder.