GOSSELIES, Belgium and MONT-SAINT-GUIBERT, Belgium, September 20, 2022 (GLOBE NEWSWIRE) — Cellistic, the cell therapy development and manufacturing company of Ncardia B.V.and Celyad Oncology (Euronext & Nasdaq: CYAD), a clinical-stage biotechnology company focused on the discovery and development of chimeric antigen receptor T cell (CAR T) therapies for cancer, today announced a transaction whereby Cellistic will acquire Celyad Oncology’s Good Manufacturing Practice-Grade Cell Therapy (GMP) manufacturing capability, including the existing facility and all associated personnel (the “Manufacturing Business Unit”).
Pursuant to an asset purchase agreement between Celyad Oncology and Cellistic, Cellistic has agreed to acquire Celyad Oncology’s manufacturing business unit in Mont-Saint-Guibert, Belgium, for a total amount of 6 million euros. Celyad Oncology’s experienced manufacturing team will join Cellistic. The transaction is subject to a number of customary conditions precedent and is expected to close in the fourth quarter of this year.
“At Cellistic, we are incredibly excited to welcome this uniquely talented team to our organization,” said Stefan Braam, founder and CEO of Cellistic. “We are onboarding a group of people whose passion and abilities align incredibly well with our vision for the future of cell therapy. As a united force, we have the talent and resources to further accelerate work on our proprietary platforms and the ability to enable Cellistic’s partners to bring iPSC-based allogeneic cell therapies to patients faster.
Michael Lussier, co-founder and interim CEO of Celyad Oncology, said, “We have focused our efforts on an allogeneic approach over the past few years and our manufacturing facility and staff have been key to enabling many of our trials. past, but they have been underutilized in recent years as we have primarily used the facility for our autologous candidates. Our current allogeneic programs are better suited to outsourced manufacturing. Using existing materials made from Céliadewe have secured the means to continue our clinical programs with cryopreserved cells until 2024. Based on this strategy, we are convinced that this decision to transfer our manufacturing plant and personnel to Cellistic, which is the ideal company for such an agreement, allow us to pursue our business objectives in the future. »
Cellistic will invest substantial capital in the newly acquired 11,000 square foot facility, which will be optimized for its iPSC-based allogeneic cell therapy platforms and processes, creating the world’s first purpose-built facility to support reprogramming customers. cell and master cell bank through clinical trial equipment manufacturing. A team of more than 30 Celyad Oncology manufacturing, quality and related personnel, all with substantial experience in cell therapy manufacturing and immuno-oncology, will join Cellistic as part of this transaction.
Celyad Oncology will provide additional guidance on the Company’s future business strategy during the fourth quarter of this year.
Launched in April 2022 as a subsidiary of Ncardia, Cellistic™ specializes in the process development and manufacturing of cell therapies based on human induced pluripotent stem cell (iPSC) technology. Its focus and expertise in reprogramming, differentiation and development of iPSC expansion protocols positions the company as the partner of choice for innovative cell therapy developers to bring advanced new therapies to market. Leveraging over a decade of Ncardia scientific and engineering knowledge and experience, Cellistic has unique capabilities for designing and optimizing proprietary manufacturing platforms for iPSC-based cells that deliver products quality on a large scale. For more information, visit www.cellistic.com.
Ncardia is an iPSC human technology company that operates globally with facilities, offices and staff across Europe and North America. Ncardia is built on the belief that stem cell technology will help bring better therapies to patients faster. The company’s goal is to enable biopharmaceutical companies active in drug discovery to accelerate their development processes through the integration of human iPSC technologies. For more information, visit www.ncardia.com.
About Celyad Oncology
Celyad Oncology is a clinical-stage biotechnology company focused on the discovery and development of chimeric antigen receptor (CAR T) cell therapies for cancer. The Company is developing a portfolio of allogeneic (ready-to-use) and autologous (customized) CAR T cell therapy candidates for the treatment of hematological malignancies and solid tumors. Celyad Oncologie was founded in 2007 and is based in Mont-Saint-Guibert, Belgium and New York, NY. The Society has received funds from Wallonia (Belgium) to support the advancement of its CAR T cell therapy programs. For more information, visit www.celyad.com.
Celyad Oncology forward-looking statement
This release may contain forward-looking statements, within the meaning of applicable securities laws, including the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding the expected closing of the transaction. Forward-looking statements may involve known and unknown risks and uncertainties that could cause the actual results, financial condition, performance or achievements of Celyad Oncology to differ materially from those expressed or implied by such forward-looking statements. Such risks and uncertainties may be found in Celyad Oncology documentation. US Securities and Exchange Commission (SEC) filings and reports, including in the most recent annual report on Form 20-F filed with the SECOND and Celyad Oncology’s subsequent filings and reports. These forward-looking statements speak only as of the date of the publication of this document and the actual results of Celyad Oncology may differ materially from those expressed or implied by these forward-looking statements. Celyad Oncology expressly disclaims any obligation to update any such forward-looking statements in this document to reflect any change in its expectations with respect thereto or any change in events, conditions or circumstances on which such statement is based, except as required by law or regulations require it. .
Cellistic Investor and Media Contact
Celyad Oncology Investors and Media Contact:Sara ZelkovicCommunications & Investor Relations Director
Source: Celyad Oncology SA
Source: Celyad Oncology SA
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