Brooklyn ImmunoTherapeutics Welcomes Erin S. Enright and Heather B. Redman to Its Board of Directors

Rhea-AI Summary

BROOKLYN, NY, Jan. 20, 2022 – Brooklyn ImmunoTherapeutics (Nasdaq: BTX) has appointed two new members to its Board of Directors: Erin S. Enright and Heather B. Redman. Both bring extensive experience in finance and governance, aiming to enhance the company's strategic direction as it develops therapies for rare diseases. Enright has a strong background in public companies and investment, while Redman has expertise in venture capital and technology. CEO Howard Federoff anticipates that their contributions will strengthen Brooklyn’s position in the biopharmaceutical market.

Positive

• Appointment of experienced board members Enright and Redman enhances the governance and strategic direction.
• Expected contributions from new board members may accelerate the development of therapies for rare diseases.

Negative

• Potential concerns regarding continuity and experience gaps in leadership with new board appointments.

NEW YORK, Jan. 20, 2022 (GLOBE NEWSWIRE) -- Brooklyn ImmunoTherapeutics, Inc. (Nasdaq: 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 announces the appointment of two new members of the Company’s Board of Directors.

Erin S. Enright has served on multiple Boards of Directors, including within the medical and life sciences arenas, such as Keystone Dental (serving as Audit Committee Chair), Medical Facilities Corporation (serving as Audit and Investment Committee Chair), and Dynatronics Corporation (serving on the Audit, Compensation, Nominating and Governance Committees). She is currently managing partner and co-founder of Prettybrook Partners, LLC, an investment firm specializing in medical technology and healthcare services companies. She holds a J.D. from University of Chicago and a B.A. from Princeton University.

Heather B. Redman is a well-credentialed board member, serving such organizations as PPL Corporation (serving on the Audit and Finance Committees),Beneficial State Bank (serving on the Audit and Technology Committees), Coldstream Holdings, Inc. (serving on the Compensation and Nomination and Governance Committees), the Washington State University Board of Regents and Foundation (serving on the Investment Committee), and the Institute for Systems Biology. She is currently managing partner of Flying Fish Partners, a Seattle-based venture capital firm investing in artificial intelligence. She holds a J.D. from Stanford University Law School and a B.A. from Reed College.

“We are at an inflection point in the development of our company and we believe we are both staffing and recruiting advisors to help guide us to the next step in the evolution of Brooklyn ImmunoTherapeutics,” commented Brooklyn’s Chief Executive Officer and President Howard Federoff, M.D., Ph.D. “Heather’s extensive financial and technology background, combined with her deep experience as a key member of several boards of directors, makes her an excellent fit for our Board, and we look forward to continued growth under her guidance and counsel. Meanwhile, Erin has worked extensively with public companies as an investment banker and investor. We look forward to her contribution as Brooklyn continues to traverse the public markets as it develops new compounds to address rare diseases that are not adequately managed.”

“I look forward to working with Brooklyn’s management team and my fellow Board members to help the Company maintain its already impressive efficiencies while achieving leadership among companies developing therapeutics for rare diseases,” commented Ms. Enright.

“I believe Brooklyn ImmunoTherapeutics is at a tipping point in its growth as it is now focusing on its development platform. I’m looking forward to collaborating with my fellow Board members as we help to further Brooklyn’s progress in the public markets as it addresses significant unmet medical needs,” commented Ms. Redman.

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

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward looking statements are statements that are not historical facts. Words such as “expects,” “believes,” “will,” “may,” “anticipates,” “intends,” “plans,” “estimates,” “seek,” “predict,” “project,” “potential” or the negatives of these terms or variations of them or similar expressions are intended to identify forward-looking statements. These statements include, but are not limited to, statements regarding our financial position, market opportunities, our clinical and preclinical trials and our ability to obtain regulatory approval for any of our product candidates. These statements are based on current expectations, estimates and projections about our business based, in part, on assumptions made by management, and are subject to a number of risks and uncertainties. Factors that could cause actual results to differ materially from current expectations include, without limitation: our dependence on the success of our internal development programs; whether or not our product pipeline candidates successfully complete clinical trials, receive regulatory approval and can be successfully commercialized; our ability to fund, enroll and complete our clinical trials; whether we generate the expected benefits of any acquisitions or joint ventures; our ability to maintain orphan drug exclusivity for IRX-2; undesirable side effects of our current or future product candidates; the impact of the current pandemic of the novel coronavirus (COVID-19) and its impacts on our business, including our ability to enroll persons in our clinical trials; our limited operating history; and the cautionary statements and risk factors described in our Current Report on Form 8-K filed with the Securities and Exchange Commission on May 11, 2021, our Quarterly Report on Form 10-Q for the quarter ended September 30, 2021 and our other filings filed from time to time with the Securities and Exchange Commission. We do not assume any obligation to update any forward-looking statement, except as required by law.

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

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

FAQ

Who are the new board members of Brooklyn ImmunoTherapeutics?

The new board members are Erin S. Enright and Heather B. Redman, both with extensive experience in finance and governance.

What is the significance of the board changes for Brooklyn ImmunoTherapeutics?

The board changes are expected to strengthen strategic direction and enhance oversight as the company develops therapies for rare diseases.

How might the new board members impact Brooklyn ImmunoTherapeutics?

Their expertise in finance and technology could accelerate the company's growth and effectiveness in the market.