Atossa Therapeutics, Inc. to Acquire Stake in Privately Held Dynamic Cell Therapies as Part of Overall CAR-T Strategy
Atossa Therapeutics (Nasdaq: ATOS) announced its investment of $2 million in Dynamic Cell Therapies, acquiring a 19.99% stake. This move aligns with Atossa's strategy to explore CAR-T therapies in the immuno-oncology space, particularly for difficult-to-treat cancers. Previously, $3 million was invested in DCT, making a total of $5 million. The transaction is set to close in Q4 2022. DCT, based in Boston, is focused on developing controllable CAR-T therapies to enhance safety and efficacy in cancer treatments.
- Strategic investment of $2 million to acquire 19.99% stake in Dynamic Cell Therapies.
- Total investment in DCT amounts to $5 million, strengthening partnership.
- Focus on CAR-T therapies may lead to innovative treatment options in oncology.
- None.
SEATTLE, Nov. 01, 2022 (GLOBE NEWSWIRE) -- Atossa Therapeutics, Inc. (Nasdaq: ATOS), announces today that it is investing in privately-held developer of CAR-T therapies, Dynamic Cell Therapies, Inc. (DCT). Atossa is a clinical-stage biopharmaceutical company seeking to develop innovative medicines in areas of significant unmet medical need in oncology with a current focus on breast cancer and lung injury caused by cancer treatments.
“This investment in DCT is an important step in pursuing our strategy to develop CAR-T therapies or adjacent opportunities within the immuno-oncology space,” commented Steven Quay, M.D., Ph.D., Atossa’s CEO, Chairman and President. “We believe that as an active investor in the development of DCT we will be well positioned to evaluate future opportunities while strategically managing our cash position.”
Atossa will acquire shares equal to
About Dynamic Cell Therapies
Dynamic Cell Therapies is venture capital backed and based in Boston, MA. DCT is in the pre-clinical phase of developing controllable CAR-T cells to address difficult-to-treat cancers. Its platform technology of dynamic control of engineered T-cells is designed to improve the safety, efficacy, and durability of CAR-T cell therapies. This system should find initial applications in hematological cancers, with future approaches in solid tumors and autoimmune diseases. The company’s platform technology uncouples tumor targeting from CAR-T cell activation. Each CAR-T cell recognizes an inert small molecule. This small molecule is conjugated to a tumor-specific antibody. By dosing a small molecule-antibody conjugate, the physician could dynamically control CAR-T cell activity and potentially minimize the risk of life-threatening side effects. Increasing the dose of the small molecule-antibody conjugate should strengthen the immune attack against tumor cells. In addition, the same small molecule can be coupled to different tumor targeting antibodies, allowing the physician to maximize on-target on-tumor efficacy and reduce off-tumor toxicities. To learn more, please visit www.dynamiccelltherapies.com.
About Atossa Therapeutics
Atossa Therapeutics, Inc. is a clinical-stage biopharmaceutical company seeking to develop innovative medicines in areas of significant unmet medical need in oncology with a current focus on breast cancer and lung injury caused by cancer treatments.
For more information, please visit www.atossatherapeutics.com
Contact:
Atossa Therapeutics, Inc.
Kyle Guse, General Counsel and Chief Financial Officer
kyle.guse@atossainc.com
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