Brooklyn ImmunoTherapeutics, Inc. (NYSEAM:BTX) (BTX) signed a non-binding letter of intent to acquire Novellus Therapeutics Limited for approximately $130 million on June 13, 2021. The consideration will be paid by a combination of $17.4 million in cash and $107.6 million in BTX common stock. The cash component of the transaction will be funded from $43 million of cash in BTX' balance sheet. The completion of the transaction is subject to several conditions, including, completion of mutually satisfactory due diligence, execution of the definitive agreement, and receipt of all required corporate and third-party approvals, regulatory and board approvals, along with other customary conditions. The transaction is expected to complete on or before July 15, 2021. Brooklyn ImmunoTherapeutics, Inc. entered into an acquisition agreement to acquire Novellus Therapeutics Limited on July 16, 2021.