CAMBRIDGE, Mass., Oct. 17, 2024 (GLOBE NEWSWIRE) -- Eterna Therapeutics Inc. (Nasdaq: ERNA) ("Eterna" or the "Company") and Factor Bioscience Limited ("Factor") today announced an exclusive license and collaboration agreement aimed at accelerating the development of advanced cell therapy candidates for oncology, rare diseases, and autoimmune disorders. Under the terms of the agreement, Eterna has secured a worldwide, exclusive, non-transferable, royalty-bearing license, with the right to grant sublicenses, to develop and market certain induced pluripotent stem cell (iPSC)-based cell therapy products (in particular iPSC derived mesenchymal stem cells (iMSC) that are engineered to express certain cytokines) utilizing Factor's cell reprogramming and gene-editing technologies, patents, and know-how. The agreement positions both companies with the potential to accelerate the development of advanced cell therapies in the oncology, rare disease, and autoimmune fields.
"We are excited to collaborate with Factor to unlock the full potential of these transformative cell therapies," said Sanjeev Luther, Eterna's President & CEO. "Our focus at Eterna has always been on developing transformative treatments for patients with difficult-to-treat diseases, and we believe this collaboration agreement increases our potential to rapidly advance therapies that target solid tumors, rare diseases, and autoimmune disorders."
Eterna and Factor will collaborate on data generation that seeks to demonstrate efficacy of the licensed drug candidates for development towards IND by Eterna directly or with third-party sublicensees. As part of the agreement, Factor Bioscience is entitled to milestone payments per product candidate, as well as post-commercialization royalties.
"We are thrilled to support Eterna's pipeline of advanced cell therapy product candidates," said Matt Angel, Ph.D., CEO of Factor Bioscience. "Eterna's team has deep translational and development expertise, making them the ideal partner to develop these products. Together, we are taking an important step toward making these therapies available to patients in need."
About Eterna Therapeutics Inc.
Eterna Therapeutics is a publicly traded, preclinical-stage company focused on using cutting-edge tools to deliver highly innovative, effective, and safe off-the-shelf cell therapies for the treatment of advanced solid tumors, with an initial emphasis on triple-negative breast cancer (TNBC) and platinum-resistant, TP53-mutant ovarian cancer. The company is currently focused on advancing its lead product ERNA-101, an induced allogenic mesenchymal stem cell (iMSC) product, designed to selectively deliver the pro-inflammatory cytokines IL-7 and IL-15 to the tumor microenvironment (TME) in order to drive significant anti-tumor immunity. ERNA-101 is built on the company's in-licensed core technology, which utilizes a best-in-class approach to engineer allogenic iPSCs to express genes of interest and to efficiently differentiate these cells into iMSCs. For more information, please visit https://www.eternatx.com/.
About Factor Bioscience
Founded in 2011, Factor Bioscience is the leading cell engineering platform technology company working to harness the potential of cell engineering to treat disease and improve health. Factor Bioscience is privately held and headquartered in Cambridge, MA. For more information, visit www.factorbio.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, in some cases, can be identified by terms such as "believe," "may," "will," "estimate," "continue," "anticipate," "design," "intend," "expect," "could," "plan," "potential," "predict," "seek," "should," "would," "contemplate," "project," "target," "objective," or the negative version of these words and similar expressions. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause Eterna's actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by the forward-looking statements in this press release, including, without limitation, risks and uncertainties related to: Eterna's ability to raise capital when and as needed to advance its product candidate, execute its business strategy and continue as a going concern; the performance ability of Eterna's in-licensed core technology; the outcome of collaborations with third-parties; and the evolution of Eterna's business model into a preclinical-stage company focused on the treatment of advanced solid tumors, rare diseases. Forward-looking statements are based upon the company's current expectations and involve assumptions that may never materialize or may prove to be incorrect. All forward-looking statements are expressly qualified in their entirety by these cautionary statements. For a detailed description of the company's risks and uncertainties, you are encouraged to review its documents filed with the SEC including its recent filings on Form 8-K, Form 10-K and Form 10-Q. You are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they were made. Eterna 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.
Investor Relations Contact:
investors@eternatx.com
