185 0 Kommentare Celyad Oncology provides fourth quarter 2023 business update and 2024 outlook

Three main pillars to unlock the potential of proprietary technology platforms and intellectual property:

A proprietary non-gene editing technology platform based on multiplexing of short hairpin ribonucleic acid (shRNAs)-derived sequences to broaden the capacities of CAR-Ts
Differentiated targets to widen the range of indications and the development of multispecific CARs to overcome the main limitations of current CAR-T therapies
A robust and broad Intellectual Property (IP) portfolio

MONT-SAINT-GUIBERT, Belgium, Jan. 16, 2024 (GLOBE NEWSWIRE) -- Celyad Oncology (Euronext: CYAD) (the “Company”), today provides a fourth quarter 2023 business update and an outlook for 2024.

Michel Lussier, interim Chief Executive Officer of Celyad Oncology, commented: “2023 has been a very important year for Celyad Oncology, after the changes that occurred in 2022. Our research team has made a remarkable progress to broaden the range of cancer indications that could be targeted by chimeric antigen receptor (CAR) T-cells and to tackle the main limitations of current CAR T-cell therapies. We have shared new data at several scientific and business conferences along the year, and published in high impact peer-reviewed journals. We are eager to see the impact of our efforts to unleash the power of our IP estate and stay at the forefront of next-generation CAR T-cell development.”

2023 corporate accomplishments

On August 24, 2023, the Company announced that it obtained commitments from Fortress, Tolefi and other longstanding existing shareholders to subscribe to a capital increase of up to €9.8 million in 2 tranches:
- A first tranche of 2.0 million was disbursed in the context of authorized capital as of September 4, 2023; and
- A second tranche subscribed by Fortress was approved by the extraordinary shareholders’ meeting of November 14, 2023. Following this private placement, the Company believes that its existing cash and cash equivalents should be sufficient, based on the current scope of activities, to fund operating expenses and capital expenditure requirements into the second quarter of 2025.