\nBlackstone (NYSE: BX) announced today that funds managed by Blackstone Life Sciences have committed $250 million towards the launch of a new autologous and allogeneic universal chimeric antigen receptor (CAR) T-cell therapy company, along with Intellia Therapeutics, Inc. (NASDAQ: NTLA) and Cellex Cell Professionals GmbH (\u201cCellex\u201d), the parent company of GEMoaB GmbH (\u201cGEMoaB\u201d), a clinical-stage cell therapy company. The new company will combine GEMoaB\u2019s world-leading clinical-stage universal CAR-T platforms with Intellia\u2019s differentiated allogeneic cell platform and CRISPR cell engineering.\n<\/p>\n
\nIntellia Therapeutics is a clinical stage, leading genome editing company focused on developing curative therapeutics using CRISPR\/Cas9 technology. Cellex Cell Professionals GmbH holds the clinical-stage biopharmaceutical company GEMoaB, which is focused on the development of next-generation immunotherapies and cell therapies for hard-to-treat cancers.\n<\/p>\n
\nThe new company will be headquartered in Cambridge, Massachusetts and will acquire Cellex\u2019s subsidiary GEMoaB GmbH with established offices and labs in Dresden, Germany. GEMoaB is developing a switchable universal platform to improve the therapeutic window of CAR T-cell therapies. This approach enables increased efficacy and safety across a range of cancers, including solid tumors, that are currently a challenge for existing cell therapies. In addition, the new company and Intellia will gain access to Cellex\u2019s established cell therapy manufacturing capabilities to accelerate their respective ex vivo<\/i> programs.\n<\/p>\n
\nAndrew Schiermeier, Ph.D., current Executive Vice President and Chief Operating Officer of Intellia, will lead the launch as President and Chief Executive Officer.\n<\/p>\n
\n\u201cThis launch represents the first of many steps to addressing the various limitations that currently exist in the cell therapy space, and I am both humbled and excited to be leading the creation of this company with a team of extremely talented individuals,\u201d said Schiermeier. \u201cBringing together GEMoaB\u2019s universal CAR-T platform with Intellia\u2019s differentiated allogeneic T cell platform and CRISPR-based cell engineering provides a unique opportunity to move cell therapy technology to new heights. Our focus is on providing significantly safer and more efficacious treatments to patients who are suffering from hard-to-treat cancers and autoimmune diseases.\u201d\n<\/p>\n
\n\u201cWe can now build on our established and ongoing collaboration with Intellia,\u201d said Dr. Armin Ehninger, GEMoaB\u2019s Chief Scientific Officer. \u201cWith Blackstone\u2019s contribution of funds and expertise, we will be able to combine our switchable CAR-T platform which has broad potential applicability and has already shown early signs of efficacy and a favorable side effect profile in an ongoing Phase Ia trial, with Intellia\u2019s leading genome editing technology,\u201d added Gerhard Ehninger, M.D., founder of Cellex and GEMoaB. \u201cThis will allow us to potentially replace the living drug, currently manufactured from the patient\u2019s own immune cells, by cells from healthy donors. Our goal is for these cells to be immediately available to patients. This is a good day for patients.\u201d\n<\/p>\n
\n\u201cCollaborations like this one are a key instrument for Intellia to strengthen investment in areas of strategic importance to us, enabling us to more quickly realize the full scope and potential of our genome-editing technology for patients in need of more effective therapies. With today\u2019s announcement, we can drive the expansion of our pipeline into new areas, accelerating clinical validation of what we believe to be a platform for universal, allogeneic CAR-T cell therapies. Further, we can fortify our allogeneic cell engineering capabilities for wholly owned programs through a preferred relationship with Cellex,\u201d said Intellia President and Chief Executive Officer, John Leonard, M.D.\n<\/p>\n
\n\u201cWe believe that this exciting effort has the potential to leapfrog current CAR-T technologies and improve the standard of care for a broad range of patients,\u201d said Dr. Nicholas Galakatos, Global Head of Blackstone Life Sciences. \u201cAs the sole founding investor, Blackstone will be actively involved in building this platform, leveraging our deep expertise in oncology and our scale capital. Our partnership with Intellia and Cellex is customized to address the new company\u2019s needs and set it up for success from day one, and while it is an earlier-stage, growth investment for us, it demonstrates the versatility of our investment platform and commitment to advance potentially transformational technologies to benefit patients.\u201d\n<\/p>\n
Business transformation and responsibilities<\/b><\/p>\n
\nKey components of the new company upon formation include the following highlights:\n<\/p>\n
- \n
- \nThe new company will have an exclusive license to combine Intellia\u2019s CRISPR\/Cas9 allogeneic platform with GEMoaB\u2019s switchable, universal CAR T-cell platforms (UniCAR and RevCAR).\n<\/li>\n
- \nGEMoaB will become a subsidiary of the newly established company and will continue to advance its clinical stage CAR T-cell programs.\n<\/li>\n
- \nThe new company and Intellia will also simultaneously enter into a co-development and co-funding (Co-Co) agreement to develop an allogeneic universal CAR T-cell product for an immuno-oncology indication. Intellia will have one additional option to enter into a second Co-Co agreement from selected allogeneic universal CAR T-cell therapy products that the parties will develop under the collaboration.\n<\/li>\n
- \nBlackstone Life Sciences, Intellia and Cellex (and certain related entities) will each have equal ownership of the new company.\n<\/li>\n<\/ul>\n
Experienced management to drive growth and scientific advancement<\/b><\/p>\n
\nDr. Schiermeier has spent more than two decades as an executive in the biotech and pharmaceutical industries, with experience ranging from managing the growth and operations for startups to directing the strategic and operational expansion of global brands for large pharma companies. At Intellia, he was responsible for working with the board of directors and executive committee in establishing and overseeing the implementation of Intellia\u2019s strategic direction in both in vivo<\/i> and ex vivo<\/i> (engineered cell therapy) areas. He also oversaw the company\u2019s portfolio management, drug development, manufacturing, and business development efforts. Prior to Intellia, he served as SVP and Global Head of Merck KGaA\u2019s Oncology Business, a global operation with revenues in excess of $1 billion across 66 countries.\n<\/p>\n
\nThe new company includes a seasoned management team, including Chief Medical Officer Professor Gerhard Ehninger, a founding shareholder of GEMoaB who served as its Chief Medical Officer. Prof. Ehninger is also a founding shareholder and Chief Executive Officer of GEMoaB\u2019s parent company Cellex. Prof. Ehninger was the Head of Hematology and Oncology at University Hospital Carl Gustav Carus of the Technical University Dresden, Germany, as well as the former President of the German Society of Hematology and Oncology (DGHO). As one of the world\u2019s leading researchers in the areas of acute leukemias and solid tumors, Prof. Ehninger has published more than 700 scientific articles in peer-reviewed journals and was principal investigator for multiple pivotal studies in hematology and oncology. The new company has also appointed Dr. Armin Ehninger as its Chief Scientific Officer. Dr. Ehninger has served as Chief Scientific Officer of GEMoaB since 2014. He has more than 15 years of research and drug discovery experience in oncology and hematology, stem cell biology as well as cancer immunotherapy. Dr. Ehninger\u2019s expertise and leadership were decisive in establishing GEMoaB\u2019s Research & Development and pre-clinical capabilities. At GEMoaB, he was responsible for pre-clinical Research and Development, the translational programs for clinical studies as well as for Quality Systems and Quality Management.\n<\/p>\n
\nThe new company\u2019s Board of Directors will be chaired by Dr. Olivier Brandicourt, a Senior Advisor to Blackstone Life Sciences and the former CEO of Sanofi S.A.\n<\/p>\n
\nThe transaction is expected to close in the third quarter of 2021 and is subject to customary closing conditions, including regulatory clearances.\n<\/p>\n
\nGoldman Sachs & Co. LLC served as exclusive financial advisor to Intellia and Goodwin Procter and Hogan Lovells (Germany) acted as Intellia\u2019s legal advisors. Ropes & Gray and Freshfields (Germany) acted as legal advisors to Blackstone Life Sciences. Noerr and Morgan Lewis acted as legal advisors to Cellex and GEMoaB.\n<\/p>\n
Intellia Therapeutics Webcast Information <\/b><\/p>\n
\nIntellia management will host a live webcast today, June 22, 2021 at 8:00 a.m. E.T. to discuss the corporate development. To join the webcast, please visit this link<\/a>, or the Events and Presentations page of the Investors & Media section of the company\u2019s website at www.intelliatx.com<\/a>. A replay of the webcast will be available on Intellia\u2019s website for at least 30 days following the call.\n<\/p>\n
About Blackstone Life Sciences<\/b><\/p>\n
\nBlackstone Life Sciences is an industry-leading private investment platform with capabilities to invest across the life cycle of companies and products within the key life science sectors. By combining scale investments and hands-on operational leadership, Blackstone Life Sciences helps bring to market promising new medicines that improve patients\u2019 lives. More information is provided at https:\/\/www.blackstone.com\/our-businesses\/life-sciences\/<\/a>.\n<\/p>\n
About Intellia Therapeutics<\/b><\/p>\n
\nIntellia Therapeutics is a leading clinical-stage genome editing company, focused on the development of proprietary, potentially curative therapeutics using the CRISPR\/Cas9 system. Intellia believes the CRISPR\/Cas9 technology has the potential to transform medicine by both producing therapeutics that permanently edit and\/or correct disease-associated genes in the human body with a single administration, and creating enhanced engineered cells that can treat oncological and immunological diseases. Intellia\u2019s combination of deep scientific, technical and clinical development experience, along with its leading intellectual property portfolio, puts it in a unique position to unlock broad therapeutic applications of the CRISPR\/Cas9 technology and create new classes of therapeutic products. Learn more about Intellia and CRISPR\/Cas9 at intelliatx.com<\/a>. Follow us on Twitter @intelliatweets<\/a>.\n<\/p>\n
About GEMoaB<\/b><\/p>\n
\nGEMoaB is a privately owned, clinical-stage biopharmaceutical company.\n<\/p>\n
\nGEMoaB is developing switchable universal CAR-T platforms (UniCAR and RevCAR) to improve the therapeutic window and increase efficacy and safety of CAR-T cell therapies in challenging cancers, including acute leukemias and solid tumors. Conventional CAR-T cells depend on the presence and direct binding of cancer antigens for activation and proliferation. An inherent key feature of the GEMoaB platforms is a switchable on\/off mechanism enabled by pharmacokinetic half-life and internalization of soluble adaptors termed targeting modules (TMs). These TMs provide the antigen-specificity to activate UniCAR or RevCAR gene-modified T-cells (UniCAR-T or RevCAR-T) and consist of a highly flexible antigen-binding moiety, linked to a motif recognized by UniCAR-T or RevCAR-T respectively.\n<\/p>\n
\nGEMoaB has a broad pipeline of product candidates in pre-clinical and clinical development for the treatment of hematological malignancies as well as solid tumors. Its clinical stage assets GEM333, a T-cell engaging bispecific antibody (TCE) with binding specificity to CD33 in relapsed\/refractory AML, and GEM3PSCA, a TCE with binding specificity to PSCA for the treatment of castrate-resistant metastatic prostate cancer and other PSCA expressing late-stage solid tumors, are currently investigated in Phase I studies and globally partnered with Bristol-Myers Squibb. Phase I studies of the lead UniCAR assets UniCAR-T-CD123 in hematological malignancies and UniCAR-T-PSMA in solid tumors are currently recruiting patients. Clinical proof-of-concept data were recently published in Blood and at key scientific meetings including the 3rd<\/sup> EHA-EBMT European CAR T-Cell Meeting and the 2021 AACR Annual Meeting. More information can be found at www.gemoab.com<\/a>.\n<\/p>\n
About Cellex Cell Professionals<\/b><\/p>\n
\nCellex Cell Professionals is a world leader in manufacturing hematopoietic blood stem cell products and a leading European manufacturer for CAR-T cell products, co-operating in that area with several large pharma and biotech companies. Their large, experienced collection centers and fully automated, audited and inspected GMP facility for UniCAR production support the worldwide distribution of cell products, including same-day delivery in the U.S. and Europe.\n<\/p>\n
\nMore information is provided at www.cellex.me<\/a>.\n<\/p>\n
Forward-Looking Statements<\/b><\/p>\n
\nThis press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including, without limitation, express or implied statements regarding Intellia\u2019s beliefs and expectations regarding: its strategy, business plans and focus; its ability to quickly and efficiently realize the scope and potential of its genome-editing technology; its ability to maintain, expand and maximize its intellectual property portfolio and pipeline as well as accelerate clinical validation for its platform; the therapeutic value and development potential of CRISPR\/Cas9 gene editing technologies and therapies; its ability to combine its allogeneic T cell platform and CRISPR-based cell engineering with GEMoaB\u2019s universal CAR-T platform; the expected strategic benefits of the formation of the new company and resulting collaborations; its expectations on the new company\u2019s ability to develop CAR-T Cell therapies for immuno-oncology and autoimmune diseases and the timing and potential success of such therapies; its ability to optimize the impact of its collaborations on its development programs, including but not limited to its collaboration with Blackstone Life Sciences, Cellex, or the new company; its and the new company\u2019s ability to enter into a license and collaboration agreement and co-development and co-promotion agreement; the new company\u2019s use of capital, expenses, future accumulated deficit, future results, and ability to fund operations at least through the next 24 months.\n<\/p>\n
\nAny forward-looking statements in this press release are based on management’s current expectations and beliefs of future events, and are subject to a number of risks, uncertainties and important factors that may cause actual events or results to differ materially from those expressed or implied by any forward-looking statements contained in this press release, including, without limitation, risks related to Intellia\u2019s ability to protect and maintain its intellectual property position; risks related to Intellia\u2019s relationship with third parties, including its licensors and licensees; risks related to the ability of Intellia\u2019s licensors to protect and maintain their intellectual property position; uncertainties related to the authorization, initiation and conduct of studies and other development requirements for the new company\u2019s product candidates; the risk that any one or more of the new company\u2019s product candidates will not be successfully developed and commercialized; the risk that the results of preclinical studies or clinical studies will not be predictive of future results in connection with future studies; and the risk that Intellia\u2019s collaborations with Blackstone Life Sciences, Cellex, or the new company or its other collaborations will not continue or will not be successful. These and other risks and uncertainties are described in greater detail in the section entitled \u201cRisk Factors\u201d in Intellia\u2019s most recent annual report on Form 10-K and quarterly report on Form 10-Q filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Intellia\u2019s other filings with the Securities and Exchange Commission. Any forward-looking statements contained in this press release represent Intellia\u2019s views only as of the date hereof and should not be relied upon as representing its views as of any subsequent date. Intellia explicitly disclaims any obligation to update any forward-looking statements, except as required by law.\n<\/p>\n
<\/p>\n
View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210622005618\/en\/<\/a><\/span><\/p>\n
BLACKSTONE LIFE SCIENCES
\n<\/b>
Paula Chirhart
\n
+1-347-463-5453
\n
paula.chirhart@blackstone.com<\/a><\/p>\nGEMOAB and Cellex
\n<\/b>
Marika Geissler
\n
+49-351-4466-45011
\n
m.geissler@gemoab.com<\/a><\/p>\nINTELLIA: <\/b><\/p>\n
Investor Relations:
\n<\/b>
Lina Li
\n
Director
\n
Investor Relations
\n
+1-857-706-1612
\n
lina.li@intelliatx.com<\/a><\/p>\nMedia:
\n<\/b>
Julie Ferguson
\n
(Interim) Head of External Affairs & Communications
\n
+1-312-385-0098
\n
julie.ferguson@intelliatx.com
\n<\/a>
media@intelliatx.com<\/a><\/p>\nKEYWORDS:<\/b> Massachusetts United States North America<\/p>\n
INDUSTRY KEYWORDS:<\/b> Research Banking General Health Professional Services Pharmaceutical Genetics Clinical Trials Science Biotechnology Finance Other Science Health<\/p>\n
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