Brooklyn ImmunoTherapeutics Strengthens Investment in Licensed mRNA Technology Platform with $20M Financing
May 24 2021 - 2:58PM
Business Wire
Brooklyn ImmunoTherapeutics LLC (NYSE American: BTX)
("Brooklyn"), a biopharmaceutical
company currently focused on exploring the role that cytokine and
gene editing/cell therapy can have in treating patients with cancer
and blood disorders, today announced it has completed a $20M
financing to progress the development of the mRNA gene editing and
cell therapies technology recently licensed from Factor Biosciences
and Novellus Therapeutics.
The Company intends to utilize the funds to commence translation
of the gene editing, cellular therapy and nanolipid particle
platform into its emerging clinical programs with a focus on orphan
diseases, such as sickle cell anemia, familial amyloidosis and cell
therapies for cancer.
“Our exclusive license of Factor Biosciences and Novellus
Therapeutics platform technology represents a key component in our
overall corporate strategy, and each progressive step toward the
development of new therapeutics from this license brings us one
step closer to realizing our vision of becoming a platform company
with multiple products in a pipeline of next-generation
immunotherapeutics and cellular therapies,” commented Howard J.
Federoff, M.D., Ph.D., Brooklyn ImmunoTherapeutics’ Chief Executive
Officer and President.
The exclusive license includes utilizing an extensively patented
process to develop gene editing compounds using mRNA, which
preclinical data suggest to be more efficient, non-immunogenic and
non-mutagenic, to develop treatment for several solid tumor and
liquid indications, sickle cell anemia, as well as a number of
additional inherited disorders.
The licensed platform also includes two additional applications.
The first is an mRNA cell reprogramming method, which is considered
to be of the highest efficiency as well as a footprint-free
technology that can be applied to both allogeneic and autologous
cells, and is combined with an mRNA-based gene editing – along with
a proprietary gene editing protein – to eliminate off-target
effects. It also includes the proprietary ToRNAdo lipid delivery
system that provides efficient non-viral vector-based delivery of
mRNA ex vivo and in vivo to skin, brain, eye and lung tissue.
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 oncology, blood
disorder, and monogenic disease therapies using leading edge gene
editing/cell therapy technology through the newly acquired license
from Factor Bioscience and Novellus Therapeutics.
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.
Forward-looking statements are any statements that are not
statements of historical fact and may be identified by terminology
such as “expect,” “intend,” “plan,” “believe,” “anticipate,” “may,”
“will,” “would,” “should,” “could,” “contemplate,” “estimate,”
“predict,” “potential” or “continue,” or the negative of these
terms or other similar words. Forward-looking statements are based
on current beliefs and assumptions that are subject to risks and
uncertainties and are not guarantees of future performance. Actual
results could differ materially from those stated or implied in any
forward-looking statement as a result of various factors,
including, but not limited to: (i) risks that the conditions to the
closing of the proposed merger between Brooklyn and NTN will not be
satisfied; (ii) uncertainties related to the impact of the COVID-19
pandemic on the business and financial condition of Brooklyn,
including on the timing and cost of the BR-202 clinical trial;
(iii) whether the BR-202 trial will be successful; (iv) whether
IRX-2 will ever be approved for commercialization by the U.S. Food
& Drug Administration, and (v) those other factors set forth in
the proxy statement/prospectus/consent solicitation statement. You
should not rely upon forward-looking statements as predictions of
future events. Brooklyn cannot assure you that the events and
circumstances reflected in the forward-looking statements will be
achieved or occur, and actual results could differ materially from
those projected in the forward-looking statements. 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.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20210524005766/en/
Investor Relations Contact: CORE IR 516-222-2560
investors@brooklynitx.com Media Contact: MacDougall Nicholas
Chang nchang@macbiocom.com 781-235-3060
Brooklyn ImmunoTherapeut... (AMEX:BTX)
Historical Stock Chart
From Jun 2024 to Jul 2024
Brooklyn ImmunoTherapeut... (AMEX:BTX)
Historical Stock Chart
From Jul 2023 to Jul 2024