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BROOKLYN, N.Y., July 23, 2021 - Brooklyn ImmunoTherapeutics (NYSE American: BTX) announced the granting of stock options to Jay Sial. He received a non-qualified stock option for 71,000 shares and a restricted stock unit (RSU) for 35,700 shares. The RSU will vest in four equal installments over four years, while the stock option will vest over three years with an exercise price tied to the stock's closing price on the grant date. Both awards are part of Brooklyn's 2021 Inducement Stock Incentive Plan.
Brooklyn ImmunoTherapeutics (BTX) has completed its acquisition of Novellus Therapeutics for $125 million, comprising $23 million in cash and over 7 million shares. This acquisition enhances Brooklyn's capabilities in gene editing, cell therapy, and cytokine programs. Following the transaction, Brooklyn retains $25 million in cash, projected to cover operations until 2023. The deal also eliminates prior financial obligations to Novellus, while Brooklyn gains a 25% equity stake in NoveCite, focusing on MSC products for ARDS. A conference call is scheduled to discuss further details.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) has appointed Jay Sial as its Chief Administrative Officer, effective July 15, 2021. With extensive experience in financial management across various health systems, Sial aims to leverage his expertise to advance the company's mission in cytokine and gene editing therapies for cancer and blood disorders. The company is currently studying the efficacy of its lead program IRX-2 in head and neck cancer, which has shown positive survival benefits in a Phase 2A trial.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) announced that CEO Howard J. Federoff will present at the Access to Giving Virtual Investor Conference from July 13-15, 2021. His presentation is scheduled for July 15 at 9:00 AM ET. The company focuses on cytokine and gene editing therapies for cancer and other diseases. Notably, their leading program, IRX-2, is under evaluation for safety and efficacy in treating head and neck cancer, showing promising overall survival benefits in a Phase 2A trial. Further studies are anticipated for other solid tumor indications.
Brooklyn ImmunoTherapeutics (NYSE American: BTX) announced restricted stock unit grants for Sandra M. Gurrola (35,000 shares) and Kevin A. D’Amour (70,290 shares) along with a non-qualified stock option covering 140,580 shares. These awards vest over four years with specific conditions tied to employment. This move is part of their 2021 Inducement Stock Incentive Plan, designed to attract talent. The company focuses on cytokine and gene editing therapies for cancer treatment, with its lead program, IRX-2, showing promising results in head and neck cancer clinical trials.
Brooklyn ImmunoTherapeutics (BTX) has signed a non-binding letter of intent to acquire Novellus Therapeutics for approximately $125 million, comprising $17.4 million in cash and $107.6 million in BTX stock. The acquisition aims to enhance Brooklyn's gene editing and cell therapy capabilities and is expected to close by July 15, 2021. The completion depends on due diligence and various approvals, with Brooklyn having over $43 million in cash available. This acquisition aligns with Brooklyn's strategy to lead in next-generation stem cell therapy.
BROOKLYN, N.Y., June 09, 2021 - Brooklyn ImmunoTherapeutics (BTX) announced its addition to the Russell 3000 Index, effective June 28, 2021. This recognition enhances the visibility of its innovative therapies targeting cancer, blood disorders, and monogenic disorders. With approximately $10.6 trillion in assets benchmarked against Russell’s U.S. Indexes, membership opens new opportunities for investment. The company’s lead program, IRX-2, has shown promising results in Phase 2A trials for head and neck cancer, indicating a potential overall survival benefit.
BROOKLYN, N.Y., June 08, 2021 – Brooklyn ImmunoTherapeutics (NYSE American: BTX) announced the appointment of Dr. Kevin A. D’Amour as Chief Scientific Officer. Dr. D’Amour, previously Chief Scientific Officer at ViaCyte, brings over 100 patents and extensive experience in cell and gene therapy. CEO Howard J. Federoff highlighted Dr. D’Amour's expertise as pivotal for Brooklyn's pioneering work in innovative cancer treatments. Brooklyn is advancing therapies for cancer and blood disorders, utilizing exclusive technologies from Factor Bioscience and Novellus, with its lead program studying IRX-2 in head and neck cancer.
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.
BROOKLYN ImmunoTherapeutics (NYSE American: BTX) updates investors on its innovative treatments targeting cancer and blood disorders. Key highlights include the advancement of IRX-2, a Phase 2 asset for head and neck cancer, which has shown promising overall survival benefits. The company also announced a new license for mRNA cell reprogramming technology aimed at enhancing treatment options for various tumors and genetic disorders. Brooklyn aims to solidify its financial position while exploring new therapeutic avenues.
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