Celyad Oncology Provides Strategic Update

Regulatory News:

Celyad Oncology (Euronext & Nasdaq: CYAD), a biotechnology company focused on the discovery and development of chimeric antigen receptor T cell (CAR T) therapies for cancer, today provided an update on its strategic business model, clinical trial programs, and the related operational and organizational steps and cost-saving measures that it will undertake.

Update on Business Model

Celyad Oncology is increasingly focusing on maximizing its valuable intellectual property estate, through research and development efforts where the Company has the greatest expertise. The Company’s U.S. patents around allogeneic CAR T therapy and NKG2D-based therapies provide an avenue to develop intellectual property programs and to partner with outside parties around the licensing of these patents.

The Company continues to leverage the dynamic potential of the shRNA platform, including multiplexing shRNA where multiple genes can be modulated simultaneously, and its potential to serve as a backbone for armored CARs using the proprietary shARC (shRNA armored CAR) franchise which allows to increase the anti-tumor activity of CAR T cells. The Company is currently making progress in multiple discovery programs, including in dual targeting CARs with NKG2D capabilities and an undisclosed target, which could be used to decrease risk of relapse or resistance often observed with traditional single-targeting CAR T approaches.

“As we usher in Celyad 2.0, we are strengthening our efforts on our core assets, a research platform and our intellectual property that will provide long-term value for the Company.” said Michel Lussier, interim CEO and director.

Update on Clinical Programs

CYAD-101 – Allogeneic TIM-based, NKG2D CAR T Candidate for Metastatic Colorectal Cancer (mCRC)

• Based on a strategic, financial and medical review, taking into account the costs associated with the pursuit of the program and the delays to reach key medical milestones following the resolution of the previous Clinical Hold, the Company has decided to discontinue the development of CYAD-101
• There were no new safety concerns leading to this decision
• All patients currently on CYAD-101 trials will continue to receive their protocol-defined follow-up

CYAD-211 – Allogeneic shRNA-based, anti-BCMA CAR T candidate for relapsed or refractory multiple myeloma (r/r MM)