Brooklyn ImmunoTherapeutics Provides Highlights of Shareholder Update Call from August 19, 2021

Rhea-AI Summary

BROOKLYN ImmunoTherapeutics, focusing on cytokine and gene editing therapies, provided updates from a shareholder call on August 19, 2021. Key highlights include the integration of Novellus, strategic planning for pipeline programs, and ongoing development of IRX-2, aimed at treating head and neck cancer, with topline data expected in H1 2022. The company has approximately $25 million in cash to support growth and recruitment. Additionally, they are exploring new mesenchymal stem cell products and gene editing for monogenic diseases.

Positive

• Integration of Novellus into operations is progressing.
• Continued strategic planning across pipeline programs.
• Ongoing development and data collection for IRX-2 with expected results in H1 2022.
• Strong cash position of approximately $25 million to support growth.

Negative

• None.

NEW YORK, Aug. 20, 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 diseases, today provided highlights from a Shareholder Update Call conducted by President and Chief Executive Officer Howard J. Federoff, M.D., Ph.D. on August 19, 2021.

Highlights included:

• Brooklyn is well underway in integrating Novellus into its operations
• Strategic planning and alignment across all pipeline programs is proceeding
• Brooklyn is focusing on an initial set of mesenchymal stem cell (MSC) products, derived from induced pluripotent stem cells (iPSC), for which it also intends to apply its gene editing technology
• The Phase 2 INSPIRE study of lead compound IRX-2, a mixed cytokine product for neoadjuvant head and neck cancer, remains on schedule for a topline data readout in the first half of 2022 and Brooklyn continues to collect data
• Additional clinical stage development programs for IRX-2 are continuing both for monotherapies and in combination with checkpoint inhibitors
• Brooklyn is exploring the use of iPSC with the ability to add additional properties via gene editing that, depending upon the application, may address problems of treating certain confounding conditions
• Brooklyn is developing in vivo gene editing to address monogenic diseases, including transthyretin familial amyloidosis
• R&D programs are expanding under the direction of Chief Scientific Officer Dr. Kevin D’Amour
• Current cash position of approximately $25 million is expected to enable personnel recruitment, growth and strategic investment
  
  

Replays of the call are available by calling US Toll Free 1-877-344-7529 or International Toll 1-412-317-0088 and using replay access code 10159634 through September 2, 2021. The webcast can also be replayed until November 19, 2021 at https://services.choruscall.com/mediaframe/webcast.html?webcastid=6rb9y6IV or on Brooklyn’s website in the Investor Relations section under “Events.”

About Brooklyn ImmunoTherapeutics
Brooklyn is focused on exploring the role that cytokine, gene editing, and cell therapy can have in treating patients with cancer, blood disorders, and monogenic diseases.

Brooklyn’s most advanced program is IRX-2, a human cell-derived cytokine therapy, studying the safety and efficacy of IRX-2 in patients with head and neck cancer in Phase 2B. 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.

Brooklyn has multiple next-generation cell and gene-editing therapies in preclinical development for various indications including acute respiratory distress syndrome, solid tumor indications, as well as in vivo gene-editing therapies for rare genetic diseases. For more information about Brooklyn and its clinical programs, please visit www.BrooklynITx.com.

Forward-Looking Statements
The fourth, sixth, seventh and ninth bulleted items in the second paragraph of this release contain 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 “believe,” “could,” “estimate,” “plan,” “possible,” “potential,” “project,” “will” 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, uncertainties related to: (i) the evolution of Brooklyn’s business model into a platform company focused on cellular, gene editing and cytokine programs; (ii) Brooklyn’s ability to successfully, cost-effectively and efficiently develop its technology and products; (iii) Brooklyn’s ability to successfully commence clinical trials of any products on a timely basis or at all; (iv) Brooklyn’s ability to successfully fund and manage the growth of its development activities; (v) Brooklyn’s ability to obtain regulatory approvals of its products for commercialization; and (vi) 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 its clinical trials. You should not rely upon forward-looking statements as predictions of future events. 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.  Factors that may impact Brooklyn's success are more fully disclosed in Brooklyn's public filings with the Securities and Exchange Commission, particularly under the heading “Risk Factors.”

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

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

FAQ

What does Brooklyn ImmunoTherapeutics focus on?

Brooklyn ImmunoTherapeutics focuses on cytokine, gene editing, and cell therapy to treat cancer, blood disorders, and monogenic diseases.

When will results from the IRX-2 study be available?

Topline data from the Phase 2 INSPIRE study of IRX-2 is expected in the first half of 2022.

What is the current cash position of Brooklyn ImmunoTherapeutics?

Brooklyn ImmunoTherapeutics currently has approximately $25 million in cash.

What clinical programs are Brooklyn ImmunoTherapeutics developing?

Brooklyn is developing multiple next-generation cell and gene-editing therapies for various conditions, including acute respiratory distress syndrome and solid tumors.