Brooklyn ImmunoTherapeutics Establishes Research and Development Center in Cambridge, Massachusetts

Rhea-AI Summary

Brooklyn ImmunoTherapeutics (NYSE American: BTX) has established a new research and development center in Cambridge, Massachusetts, co-locating with Factor Bioscience and Novellus Therapeutics. This facility will focus on mRNA-based gene editing and cellular therapies for cancer and rare blood disorders, leveraging exclusive licenses from both companies. Key technologies include mRNA cell reprogramming, mRNA-based gene editing, and a nanolipid delivery system. Brooklyn's leading program is IRX-2 for head and neck cancer, which showed promising overall survival benefits in clinical trials.

Positive

• Establishment of a new R&D center to enhance research capabilities.
• Acquisition of exclusive licenses for advanced cell-based therapies.
• Key technologies for mRNA editing and delivery systems.
• Progress in the IRX-2 clinical trial demonstrating overall survival benefit.

Negative

• Dependence on the successful development of technologies and products.
• Risks related to clinical trial timelines and regulatory approvals.
• Uncertainties from potential impacts of COVID-19 on operations.

Co-locates with technology developers Factor Bioscience and Novellus Therapeutics

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.”

“We are delighted to advance our R&D efforts to commence translation of gene editing, cellular therapy and development for our emerging clinical programs with a focus on orphan diseases such as sickle cell anemia, familial amyloidosis and cell therapies for cancer,” continued Dr. Federoff. “Our new co-located R&D center is intended to provide us with ample infrastructure and synergistic potential to promote these goals.”

Brooklyn’s recently licensed platform from Factor and Novellus includes three novel technologies that the company expects to pursue at its new R&D location. The first is a highly efficient mRNA cell reprogramming method. The second is a mRNA-based gene editing technology which can be applied to both allogeneic and autologous cells and which eliminates potential for off-target effects. The third is a proprietary tunable nanolipid 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, concerning Brooklyn’s expectations, anticipations, intentions, beliefs or strategies regarding the future that are not statements of historical fact, including statements in the second, third and fourth paragraphs related to potential future development and growth. These statements are based upon the current beliefs and expectations of Brooklyn’s management and are subject to significant risks, uncertainties and other factors. Brooklyn’s actual results could differ materially from any anticipated future results, performance or achievements described in the forward-looking statements as a result of a number of factors, including, but not limited to: (i) Brooklyn’s ability to successfully, cost-effectively and efficiently develop its technology and products; (ii) Brooklyn’s ability to successfully commence clinical trials of any products on a timely basis or at all; (iii) Brooklyn’s ability to successfully fund and manage the growth of its development activities; (iv) Brooklyn’s ability to obtain regulatory approvals of its products for commercialization; and (v) 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 development of the technologies that Brooklyn expects to pursue at its new R&D location. Additional factors and risks are described in Brooklyn’s periodic reports filed with the Securities and Exchange Commission, which are available on the SEC’s website at www.sec.gov. Forward-looking statements are made based on information available to Brooklyn on the date of this press release, and Brooklyn assumes no obligation to update the information contained in this press release.

Investor Relations Contact:
CORE IR
516-222-2560
investors@brooklynitx.com

Media Contact:
CORE IR
Jules Abraham
julesa@coreir.com
917-885-7378 

FAQ

What is the focus of Brooklyn ImmunoTherapeutics' new R&D center?

The new R&D center focuses on mRNA-based gene editing and cellular therapies for cancer and rare blood disorders.

What technologies is Brooklyn ImmunoTherapeutics pursuing at its new facility?

Brooklyn is pursuing mRNA cell reprogramming, mRNA-based gene editing, and a proprietary nanolipid delivery system.

What is the significance of Brooklyn ImmunoTherapeutics' IRX-2 program?

The IRX-2 program is studying its safety and efficacy in head and neck cancer, demonstrating an overall survival benefit in clinical trials.

How does co-locating with Factor and Novellus benefit Brooklyn ImmunoTherapeutics?

Co-locating with Factor and Novellus enhances collaboration and provides necessary infrastructure for developing advanced therapeutics.

What are the key risks mentioned in Brooklyn ImmunoTherapeutics' press release?

Key risks include development and regulatory challenges, clinical trial delays, and uncertainties from the COVID-19 pandemic.