Acquisition Advances Transformation Into Platform Company Focused on Cell, Gene Editing and Cytokine Therapy

Company to Hold Conference Call Today, July 19, 2021, at 4:15 PM ET to Discuss the Transaction and Future Plans

New York – July 19, 2021 – Brooklyn ImmunoTherapeutics, Inc. (NYSE American: BTX) (“Brooklyn”), a biopharmaceutical company focused on exploring the role that cytokine and gene editing/cell therapy can have in treating patients with cancer, blood disorders, and monogenic diseases, today announced that it had completed, on July 16, 2021, its acquisition of Novellus Therapeutics Limited (“Novellus”). Novellus is developing next‑generation engineered mesenchymal stem cell (“MSC”) therapies using extensively patented mRNA-based cell reprogramming and gene editing technologies licensed from Factor Bioscience (“Factor”). The transaction advances Brooklyn’s evolution into a platform company with a pipeline of next-generation engineered cellular, gene editing and cytokine programs.

Key Transaction Highlights:

Brooklyn acquired Novellus for consideration totaling $125 million, which consisted of $23 million in cash and 7,022,230 shares of Brooklyn common stock, which were valued at a total of $102 million based on a price of approximately $14.53 per share. Immediately following the closing, the shares issued represented, on an as-converted basis, 13.6% of the shares of Brooklyn’s outstanding common stock, which closed at a price of $10.05 per share on July 16, 2021. Read more.

Brooklyn Immunotherapeutics LLC.
Mon, June 14, 2021, 7:30 AM

Novellus Therapeutics develops next-generation mesenchymal stem cell products using licensed patented mRNA cell reprogramming and gene editing technologies

NEW YORK, June 14, 2021 (GLOBE NEWSWIRE) — Brooklyn ImmunoTherapeutics LLC (NYSE American: BTX) (“Brooklyn”), a biopharmaceutical company focused on exploring the role that cytokine and gene editing/cell therapy can have in treating patients with cancer, blood disorders, and monogenic diseases, today announced it has executed a non-binding letter of intent (“LOI”) to acquire Novellus Therapeutics (“Novellus”), a company developing next-generation engineered mesenchymal stem cell (“MSC”) therapies using patented mRNA cell reprogramming and gene editing technologies licensed from Factor Bioscience (“Factor”). It is expected that the transaction will involve an acquisition by Brooklyn of all of the outstanding equity of Novellus (the “Transaction”).

Pursuant to the terms of the LOI, the parties intend to sign a definitive agreement (the “Definitive Agreement”) and work to close the acquisition on or before July 15, 2021. The terms of the LOI value Novellus at $125.0 million, which is proposed to be paid by Brooklyn by a combination of $17.4 million in cash and $107.6 million in BTX common stock. Brooklyn currently has over $43 million of cash on its balance sheet to fund the cash component of the Transaction. The completion of the Transaction is subject to a number of conditions, and no assurances can be made that the parties will successfully negotiate and enter into a Definitive Agreement or that the proposed Transaction will be closed on the terms or timeframe contemplated by the LOI, or at all. »Continue Reading.

Co-locates with technology developers Factor Bioscience and Novellus Therapeutics

June 02, 2021 08:00 ET | Source: Brooklyn ImmunoTherapeutics

BROOKLYN, N.Y., June 02, 2021 (GLOBE NEWSWIRE) — Brooklyn ImmunoTherapeutics, Inc. (NYSE American: BTX) (“Brooklyn”), a biopharmaceutical company focused on exploring the role that cytokine and gene editing/cell therapy can have in treating patients with cancer, blood disorders, and monogenic disorders, today announced it has established a research and development center in Cambridge, Massachusetts, to pursue its mRNA-based gene editing and cellular therapies. The company has co-located with Factor Bioscience Limited (“Factor”) and Novellus Therapeutics Limited (“Novellus”), from which Brooklyn has acquired an exclusive worldwide license to develop and commercialize certain cell-based therapies to treat cancer and rare blood disorders, including sickle cell disease, based on the patented technology and know-how of Factor and Novellus.

“Our new R&D facility will provide us with the ability to advance our research and development efforts. We believe co-locating with Factor and Novellus will promote our capability to leverage our collaboration and further our objectives in developing a diversified portfolio of new, advanced therapeutics,” said Howard J. Federoff, M.D., Ph.D., Brooklyn’s Chief Executive Officer and President. “Recent presentations by Factor and Novellus at the American Society of Gene & Cell Therapy conference have reinforced our conviction that our development pathways can be broadly applicable to real world disease indications for which no effective therapies currently exist.” » Continue Reading.

May 24, 2021 02:58 PM Eastern Daylight Time

BROOKLYN, N.Y.–(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… » Continue Reading.

May 13, 2021 07:30 AM Eastern Daylight Time

BROOKLYN, N.Y.–(BUSINESS WIRE)–Brooklyn ImmunoTherapeutics, Inc. (NYSE American: BTX) (“Brooklyn”), a biopharmaceutical company exploring the role that cytokine and gene editing/cell therapy can have in treating patients with cancer and blood disorders, today announced the appointment of Christopher Rohde, Ph.D. to the Company’s Scientific Advisory Board, effective May 13, 2021.

Dr. Rohde is Co-Founder and Chief Technology Officer at Factor Bioscience. Dr. Rohde is also Co-Founder and President of Novellus Therapeutics. Brooklyn ImmunoTherapeutics acquired an exclusive license for the mRNA gene editing and cell therapies technology of Factor Bioscience Limited and Novellus Therapeutics Limited. Dr. Rohde is currently leading Factor’s efforts to apply their RiboSlice™ gene-editing technology, and FactorStem™ cell-reprogramming and differentiation technologies to the development of new research models, including high-throughput screening-compatible human cell libraries. His work is described in numerous peer-reviewed publications and has been covered by Technology Review, Nature, Bioscience Magazine, Analytical Chemistry, The Economist, and many other publications. Chris Rohde earned his Ph.D. from the Massachusetts Institute of Technology (MIT) in 2011.

“As Co-founder and Chief Technology Officer at Factor Bioscience, Dr. Rohde brings a unique and unparalleled understanding of the gene editing and cell therapy technology which Brooklyn has in-licensed to our Scientific Advisory Board,” said Howard J. Federoff, M.D., Ph.D., Chief Executive Officer and President of Brooklyn. “His in-depth knowledge and perspective will allow us to target disease at the molecular level. This is a very exciting time at Brooklyn and we are looking forward to working with Chris to rapidly advance our potential treatments for oncology, blood disorders, and monogenic diseases.”

“Brooklyn ImmunoTherapeutics is well-positioned to become a leader in gene editing and cell reprograming using Factor’s RiboSlice™ gene-editing technology, and FactorStem™ cell-reprogramming and differentiation technologies,” said Dr. Rohde. “I look forward to working with colleagues on the Scientific Advisory Board to optimize this leading-edge technology to develop new therapies for patients living with cancer and blood disorders.”
» Continue Reading.

April 29, 2021 07:30 AM Eastern Daylight Time

BROOKLYN, N.Y.–(BUSINESS WIRE)–Brooklyn ImmunoTherapeutics LLC (NYSE American: BTX) (“Brooklyn”) today announced it has acquired an exclusive license for mRNA gene editing and cell therapies technology of Factor Bioscience Limited and Novellus Therapeutics Limited pursuant to an exercise of a previously announced option.

The license includes use of an extensively patented process to develop gene editing compounds using mRNA, which preclinical data suggest demonstrate a high degree of efficiency, as well as being non-immunogenic and non-mutagenic.

The licensed platform includes mRNA cell reprogramming, which is considered to be the highest efficiency and footprint-free technology that can be applied to both allogeneic and autologous cells, and is combined with 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 delivery of mRNA ex vivo and in vivo to skin, brain, eye and lung tissue. » Continue Reading.