Strengthens Investment in Licensed mRNA Technology Platform with $20M Financing

Brooklyn ImmunoTherapeutics LLC (NYSE American: BTX) ("Brooklyn"), a biopharmaceutical company currently focused on exploring the role that cytokine and gene editing/cell therapy can have in treating patients with cancer and blood disorders, today announced it has completed a $20M financing to progress the development of the mRNA gene editing and cell therapies technology recently licensed from Factor Biosciences and Novellus Therapeutics.

The Company intends to utilize the funds to commence translation of the gene editing, cellular therapy and nanolipid particle platform into its emerging clinical programs with a focus on orphan diseases, such as sickle cell anemia, familial amyloidosis and cell therapies for cancer.

"Our exclusive license of Factor Biosciences and Novellus Therapeutics platform technology represents a key component in our overall corporate strategy, and each progressive step toward the development of new therapeutics from this license brings us one step closer to realizing our vision of becoming a platform company with multiple products in a pipeline of next-generation immunotherapeutics and cellular therapies," commented Howard J. Federoff, M.D., Ph.D., Brooklyn ImmunoTherapeutics' Chief Executive Officer and President.

The exclusive license includes utilizing an extensively patented process to develop gene editing compounds using mRNA, which preclinical data suggest to be more efficient, non-immunogenic and non-mutagenic, to develop treatment for several solid tumor and liquid indications, sickle cell anemia, as well as a number of additional inherited disorders.

The licensed platform also includes two additional applications. The first is an mRNA cell reprogramming method, which is considered to be of the highest efficiency as well as a footprint-free technology that can be applied to both allogeneic and autologous cells, and is combined with an mRNA-based gene editing - along with a proprietary gene editing protein - to eliminate off-target effects. It also includes the proprietary ToRNAdo lipid delivery system that provides efficient non-viral vector-based delivery of mRNA ex vivo and in vivo to skin, brain, eye and lung tissue.

About Brooklyn ImmunoTherapeutics

Brooklyn is focused on exploring the role that cytokine-based therapy can have in treating patients with cancer, both as a single agent and in combination with other anti-cancer therapies. The company is also exploring opportunities to advance oncology, blood disorder, and monogenic disease therapies using leading edge gene editing/cell therapy technology through the newly acquired license from Factor Bioscience and Novellus Therapeutics.

Brooklyn's most advanced program is studying the safety and efficacy of IRX-2 in patients with head and neck cancer. In a Phase 2A clinical trial in head and neck cancer, IRX-2 demonstrated an overall survival benefit. Additional studies are either underway or planned in other solid tumor cancer indications.