ETERNA THERAPEUTICS INC. Brooklyn, NY - June 14, 2021 - Brooklyn ImmunoTherapeutics said Monday it has executed a letter of intent to buy Novellus Therapeutics, a company developing mesenchymal stem cell therapies.
The companies said they intend to sign an agreement and work to close the acquisition by July 15. The letter of intent values Novellus at $125 million, which Brooklyn proposed to pay through a combination of $17.4 million in cash and $107.6 million in its common stock.
Brooklyn said it has more than $43 million in cash on its balance sheet to fund the cash component of the transaction.
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 highly innovative gene editing/cell therapy technology
Investor Relations Contact:
CORE IR
516-222-2560
investors@brooklynitx.com
Media Contact:
CORE IR
Jules Abraham
julesa@coreir.com
917-885-7378
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Brooklyn Immunotherapeutics Inc. published this content on 14 June 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 June 2021 19:47:06 UTC.
