aibioNexGel names Brian Kieser interim CEO and forms a strategic review committee
Tickers NXGL
Brian Kieser became interim chief executive on August 21, 2026, as Adam Levy left the role. A special committee will review non-core assets, liquidity and the company's long-term strategic direction.
Key facts
- Company
- NEXGEL, INC. (NASDAQ: NXGL)
- News type
- Company Updates
- Primary source
- NEXGEL, INC. 8-K (2026-08-21)
NEXGEL, Inc. announced a series of leadership, governance and strategic initiatives in a press release dated August 20, 2026, filed with a Form 8-K on August 21, 2026. Brian Kieser was appointed Interim Chief Executive Officer effective August 21, 2026. Adam Levy ceased serving as Chief Executive Officer and as an employee of the company on the same date.
Why the board chose Kieser
The release says that following the company's April 2026 acquisition of certain assets from Celularity, Inc., Mr. Kieser became actively involved in the integration of the BioNX Surgical division, manufacturing transition initiatives, commercialization strategy, financing activities and broader strategic planning. He did this through NEXGEL's strategic partnership with Sequence Life Science, Inc. The board unanimously determined that he is well positioned to lead the company through its next phase of operational integration and strategic review.
Steve Glassman, Chairman of the Board, said: "Brian brings a deep understanding of our business, our strategic objectives and the opportunities ahead." The release adds that the board believes his industry experience and strategic relationships provide leadership continuity.
The special committee and its mandate
The board formed a Special Committee for Strategic Review and Value Creation, consisting of Kevin Harris, who chairs it, and Steve Glassman. The committee oversees all strategic review activities, restructuring initiatives, capital structure matters and potential related-party transactions. Its mandate covers evaluating and recommending strategic alternatives for non-core assets and businesses, capital structure and liquidity enhancement initiatives, operational efficiency and profitability improvements, and a formal restructuring and strategic plan.
The company expects the committee's initial efforts to focus on presenting a comprehensive strategic and value creation framework to the board within the next 30 to 45 days. The review will cover all non-core assets, product lines and business activities. It may consider continued operation, divestiture, strategic partnerships, restructuring or wind-down opportunities. The board believes the company's most significant growth opportunities are BioNX Surgical, BioNX Regenerative Eye Health & Aesthetics, and its advanced hydrogel technologies. The company intends to give shareholders updates on the review as appropriate.
Levy's transition
Mr. Levy resigned from all officer, director, committee and other fiduciary positions with the company and its subsidiaries effective August 21, 2026. The company and Mr. Levy are negotiating a Separation Agreement and Release. The board thanked him for expanding the company's hydrogel platform and for completing the acquisition of the BioNX Surgical assets earlier this year.
Mr. Levy has agreed to provide transition assistance for ninety (90) days after his separation. That assistance is expected to include knowledge transfer, the handover of key customer, supplier and strategic partner relationships, support for the BioNX Surgical integration, and cooperation on public company reporting and disclosure. The release says the assistance does not amount to continued employment or a consulting relationship, and that he will receive no compensation for it beyond the separation benefits in the expected agreement.
About the company and its share count
NEXGEL is a Langhorne, Pennsylvania company that provides healthcare, beauty and over-the-counter products, including high-water-content hydrogel products for healthcare and consumer applications. It has developed and manufactured electron-beam, cross-linked hydrogels for over two decades. Its brands include Silverseal, Hexagels, Turfguard, Kenkoderm and Silly George. Its annual report on Form 10-K/A for fiscal 2025 lists 8,849,665 shares of common stock outstanding as of April 28, 2026.
Financial figures from the annual report
Revenue was $11.4 million for 2025 and $8.7 million for 2024. The net loss was $3.0 million in 2025 and $3.3 million in 2024. Cash from operations was negative $1.3 million in 2025 and negative $3.9 million in 2024.
What comes next
The release frames the change as continuity, but the chief executive is gone abruptly, his separation terms are still under negotiation, and the committee's mandate openly includes restructuring and wind-down as options. The company reported a net loss of $3.0 million for 2025 and used $1.3 million of cash in operations, so the review starts from limited resources. The committee is due to present its framework to the board within 30 to 45 days of the announcement. Mr. Levy's transition assistance runs for ninety (90) days after his separation.