Brooklyn Immunotherapeutics Inc (NYSEAMERICAN:BTX) exercised its previously announced option and clinched an exclusive license for the mRNA gene editing/ cell therapies technology.
As per the terms of the license, Brooklyn will receive rights for a patented process for developing gene-editing compounds with the help of mRNA. Brooklyn can apply footprint-free and high-efficiency mRNA cell reprogramming under license with Novellus Therapeutics Limited and Factor Bioscience Limited to autologous and allogeneic cells.
It will combine mRNA cell reprogramming with mRNA-based gene editing and a proprietary gene-editing protein for eliminating target effects. Brooklyn will also receive a ToRNAdo lipid delivery system to deliver mRNA in vivo and ex vivo efficiently to lung tissue, eye, brain, and skin.
Develops therapies to treat blood disorders and cancer
CEO of Brooklyn, Howard J. Federoff, said the license allows the company to become a key player in gene editing for CT (cell therapies). The company can develop innovative treatments to cure blood disorders, cancer, and other diseases using the mRNA platform.
Brooklyn will closely work with Novellus Therapeutics Limited and Factor Bioscience Limited in developing innovative medicines. It will use the license to create next-generation cellular medicines targeting liquid and solid tumors, inherited monogenic disorders, and sickle cell anemia.
Grants nonqualified stock option
Brooklyn issued 2.627 million common shares to Dr. Federoff under the inducement grants option on April 16, 2021. Of this, 656,979 shares will vest in April 2022. Federoff also received an additional stock option of 597,253 common stock of Brooklyn.
Matthew joins the scientific advisory board
Brooklyn inducted Mathew During in its scientific advisory board on April 26, 2021.
Mathew is a neuroscientist. He received the training at Yale, MIT, and Harvard.
The previous stints of Mathew include as a professor (neurosurgery) for nine years at Yale University. He also served as a professor at Cornell, Thomas Jefferson, and Ohio State Universities.
Mathew is proficient in using viral vectors to cure neurological disorders. He is the first person to conduct gene transfer in a child’s brain.
Mathew published more than 250 scientific articles in prominent journals like Nature Genetics, Nature Medicine, Science Translational Medicine, Cell, Science, and Nature. He also established Ovid Therapeutics besides co-founding Vector Neurosciences, Merlin Pharmaceuticals, Nightstar Therapeutics, Emrys Bio, and Neurologix.