Brooklyn ImmunoTherapeutics Pays $1 Million Towards Acquisition of License for mRNA Technology Platform to Develop Geneticall...
April 15 2021 - 4:10PM
Business Wire
Brooklyn ImmunoTherapeutics, Inc. (NYSE American: BTX)
("Brooklyn"), a biopharmaceutical company focused on exploring the
role that cytokine-based therapy can have in treating patients with
cancer, today announced it has paid $1 million towards the
acquisition of a license for Factor Bioscience’s and Novellus’ mRNA
Gene Editing and Cell Therapies technology and has extended through
May 21, 2021 its option exercise period for entering into a related
license agreement with Factor Bioscience and Novellus.
If a license agreement is completed, it would allow Brooklyn to
utilize an extensively patented process to seek to develop gene
edited compounds using mRNA, which preclinical data suggest to be
more efficient, non-immunogenic and non-mutagenic, for treatment of
several solid tumor and liquid indications, sickle cell anemia, as
well as a number of additional inherited disorders. Gene editing is
an investigational technique that is used to add, delete, or
correct a patient’s genetic material in an effort to treat a
disease. Research suggests that editing genes in patients could
potentially result in cures for a number of genetic diseases. The
licensed platform would include mRNA cell reprogramming, mRNA-based
gene editing, a proprietary gene editing protein, and the
proprietary ToRNAdo lipid delivery system that provides efficient
delivery of mRNA ex vivo and in vivo to skin, brain, eye and lung
tissue.
If Brooklyn does not enter into the license agreement by May 21,
2021, it will be entitled to be reimbursed for the $1 million
payment.
About Brooklyn ImmunoTherapeutics
Brooklyn is focused on exploring the role that cytokine-based
therapy can have in treating patients with cancer, both as a single
agent and in combination with other anti-cancer therapies. The
company is also exploring opportunities to advance therapies using
leading edge gene editing/cell therapy technology through its
option agreements with Factor Bioscience and Novellus.
Brooklyn’s most advanced program is studying the safety and
efficacy of IRX-2 in patients with head and neck cancer. In a Phase
2A clinical trial in head and neck cancer, IRX-2 demonstrated an
overall survival benefit. Additional studies are either underway or
planned in other solid tumor cancer indications.
For more information about Brooklyn and its clinical programs,
please visit www.BrooklynITx.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended, which are intended to be covered by the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
These forward-looking statements are not statements of historical
fact and relate to the potential completion and execution of a
license agreement as described in the press release. There can be
no assurance or guarantee that Brooklyn will succeed in entering
into such a license agreement on the terms described above, or at
all, as a result of various factors, including, but not limited to,
the need for Brooklyn to successfully negotiate terms of the
license agreement that are acceptable to both Brooklyn and each of
the proposed licensors. The forward-looking statements made in this
communication speak only as of the date on which they were made,
and Brooklyn does not undertake any obligation to update the
forward-looking statements contained herein to reflect events that
occur or circumstances that exist after the date hereof, except as
may be required by applicable law or regulation.
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version on businesswire.com: https://www.businesswire.com/news/home/20210415005935/en/
Media Contact MacDougall Nicholas Chang 781-235-3060
nchang@macbiocom.com Investor Relations Contact: CORE IR
516-222-2560 investors@brooklynitx.com
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