New name reflects Company focus on leveraging exclusively in-licensed foundational mRNA cell engineering patent portfolio
The Eterna corporate mission is to realize the potential of cell engineering to provide patients with transformational new medicines
Company's shares to trade under new ticker symbol "ERNA" starting on October 17, 2022, and a one-for-twenty share consolidation will become effective on that date
SAN DIEGO, Oct. 11, 2022 (GLOBE NEWSWIRE) -- Brooklyn ImmunoTherapeutics, Inc. (Nasdaq: BTX) ("Brooklyn" or the "Company"), today announces that it is changing its name to Eterna Therapeutics Inc. ("Eterna") to reflect its focus on developing advanced therapies using its extensively patented in-licensed mRNA cell engineering technologies. The name change will be effective Monday, October 17, 2022. The Company's common stock will trade on The Nasdaq Global Market under the new ticker symbol "ERNA". The new ticker symbol, together with a one-for-twenty consolidation of the Company's common stock, will become effective at the open of the market on October 17, 2022.
"Eterna's vision is to transform medicine by unlocking the potential of revolutionary cell engineering technology," said Matt Angel, Ph.D., Interim Chief Executive Officer of Brooklyn. "Eterna is well positioned to build on more than a decade of groundbreaking research by our technology partner, Factor Bioscience. This research has resulted in over 100 patents covering key cell engineering technologies, including what we believe are the most widely used methods for therapeutic gene editing currently in clinical development. Eterna has exclusively in-licensed this extensive patent portfolio to develop a pipeline of valuable therapeutic products, which the Company plans to advance both internally and through strategic partnerships. I look forward to providing additional information about Eterna's progress over the coming weeks."
About Brooklyn ImmunoTherapeutics
Brooklyn is focused on developing advanced therapies using state-of-the-art mRNA cell engineering technology. Brooklyn has multiple next-generation cell and gene-editing therapies in preclinical development for various indications. For more information, please visit www.BrooklynITx.com.
Forward-Looking Statements
This press release contains 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," "anticipate," "expect," "plan," "possible," "potential," "project," "will" or other similar words and the negatives of such 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 required by applicable law. Factors that may cause Brooklyn's actual results to differ from those expressed or implied in forward-looking statements contained in this press release are more fully disclosed in Brooklyn's periodic public filings with the U.S. Securities and Exchange Commission, particularly under the heading "Risk Factors" in Brooklyn's Annual Report on Form 10-K for the year ended December 31, 2021, as amended, as well as under similar headings in Brooklyn's subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
Investor Relations Contact:
investors@brooklynitx.com
Media Contact:
Jon Yu
ICR Westwicke
475-395-5375
BTX-PR@westwicke.com
