Celgene Corp.

ZUG, Switzerland and BOSTON, Oct. 16, 2023 (GLOBE NEWSWIRE) -- CRISPR Therapeutics (Nasdaq: CRSP), a biopharmaceutical company focused on creating transformative gene-based medicines for serious diseases, today announced it proposes to elect Sandy Mahatme, LL.M. to its Board of Directors at the Company’s next annual general meeting to be held in 2024. “I am honored to welcome Sandy to our Board during an important time in CRISPR Therapeutics’ continued evolution,” said Samarth Kulkarni, Ph.D., Chief Executive Officer and Chairman of the Board of CRISPR Therapeutics. “Sandy brings a considerable breadth of experience to CRISPR Therapeutics gained from his senior roles at industry-leading companies and has a strong track record of success in finance, business development and corporate strategy. His extensive experience and expertise will make him an outstanding addition to our Board, and we look forward to the valuable insights he will bring.” Mr. Mahatme currently serves as President, Chief Operating Officer and Chief Financial Officer of National Resilience Inc., a technology-focused biomanufacturing company dedicated to broadening access to complex medicines. He previously served as Executive Vice President, Chief Financial Officer and Chief Business Officer of Sarepta Therapeutics, Inc., a position he held for almost eight years. Prior to those roles, he worked at Celgene Corporation, where he served in various positions including Senior Vice President of Corporate Development, Senior Vice President of Finance, Corporate Treasurer and Head of Tax. Mr. Mahatme served in senior roles in business development and corporate finance at Pfizer, Inc. after starting his career at Ernst & Young LLP. Mr. Mahatme earned Master of Laws degrees from Cornell Law School and the New York University School of Law and is a member of the New York State Bar Association. He has previously held board positions at a number of biopharma companies and currently holds a board position with Idorsia Pharmaceuticals Ltd. About CRISPR TherapeuticsCRISPR Therapeutics is a leading gene editing company focused on developing transformative gene-based medicines for serious diseases using its proprietary CRISPR/Cas9 platform. CRISPR/Cas9 is a revolutionary gene editing technology that allows for precise, directed changes to genomic DNA. CRISPR Therapeutics has established a portfolio of therapeutic programs across a broad range of disease areas including hemoglobinopathies, oncology, regenerative medicine and rare diseases. To accelerate and expand its efforts, CRISPR Therapeutics has established strategic partnerships with leading companies including Bayer, Vertex Pharmaceuticals and ViaCyte, Inc. CRISPR Therapeutics AG is headquartered in Zug, Switzerland, with its wholly-owned U.S. subsidiary, CRISPR Therapeutics, Inc., and R&D operations based in Boston, Massachusetts and San Francisco, California, and business offices in London, United Kingdom. For more information, please visit www.crisprtx.com. CRISPR THERAPEUTICS® word mark and design logo are registered trademarks of CRISPR Therapeutics AG. All other trademarks and registered trademarks are the property of their respective owners. Investor Contact:Susan Kim+1-617-315-4600susan.kim@crisprtx.com Media Contact:Rachel Eides+1-617-315-4493rachel.eides@crisprtx.com

Financing will drive the further development of a new class of drugs targeting DNA repair defects in cancer. NEW HAVEN, Conn., Oct. 16, 2023 (GLOBE NEWSWIRE) -- Modifi Biosciences, a leader in DNA modification as a novel approach to target cancer, today announced the closing of $4.3 million in a second round of seed financing, bringing the total raised to date to $10.7 million. This round included existing investors Connecticut Innovation, HighCape Capital, Advantage Capital (Ironwood) and the National Brain Tumor Society, while also adding new investors Pathway BioVentures, The Sontag Foundation, and BrightEdge, the impact investment and innovation arm of the American Cancer Society. “We are gratified to see our existing investors' continued support in our mission to develop an entirely new approach to target cancers with DNA repair defects,” said Ranjit S. Bindra, M.D., Ph.D., co-founder of Modifi Bio, Harvey and Kate Cushing Professor and Vice Chair for Translational Research at Yale School of Medicine, and Scientific Director of the Chênevert Family Brain Tumor Center at Yale Cancer Center. He added, “We are also excited to bring in new investors with a track record for investing in high-impact, cutting-edge cancer therapeutics development.” With the recent raise in capital, the company is now strongly positioned to further advance its lead molecules towards IND-enabling studies and phase I clinical trials. As part of the funding, Modifi Bio also announces the appointment of Kat Kayser-Bricker, PhD, Chief Scientific Officer of Halda Therapeutics, to the Board of Directors, who brings a wealth of expertise in drug discovery. Dr. Kayser-Bricker's experience includes a decade-long tenure at FORMA Therapeutics, a public company that was acquired by Novo Nordisk for $1.1 billion in 2022. Her roles there, culminating as the Head of Early Discovery Chemistry, involved her in target nomination, hit finding, and portfolio advancement. This included her significant role in the development of FORMA's inaugural drug candidate, exclusively licensed to Celgene in 2018. Beyond her scientific contributions, she excelled in building collaborative relationships with academic and pharmaceutical partners, driving portfolio growth and technological progress. Her commitment to innovation is evident in her leadership of technology initiatives, such as the establishment of a DNA-encoded library platform at FORMA and the invention of RIPTAC™ therapeutics at Halda. Additionally, Lucas de Breed, PhD MBA, will join as a board member, in his capacity as Director, Investments at BrightEdge. Previously, as a Manager at Deallus, a global strategy consulting firm for large biopharma clients, he led the Oncology business unit and founded the firm’s East Coast office. As an Investment Director at INKEF Capital, a leading European VC firm, Lucas led the allocation of $120 million in US and European therapeutics companies, serving on the respective Boards and realizing a number of exits. At INKEF, he was instrumental in setting the investment strategy, building out the investment team and in expanding assets under management to $600 million. About The Sontag FoundationThe Sontag Foundation, established in 2002, is a private family foundation strategically focused on brain cancer. The foundation is dedicated to advancing brain cancer research by investing in brilliant scientists who are committed to the pursuit of bold, innovative, and transformative ideas. About Modifi BioBased in New Haven, CT, Modifi Bio is a leader in direct DNA modification developing novel therapeutics by uniquely targeting tumor-associated DNA repair defects. Aiming to improve the standard of cancer therapy and patient care, the Modifi Bio team includes world-renowned scientists, clinicians and experienced biotech entrepreneurs with deep expertise in synthetic chemistry, DNA repair, and translational research in oncology. The company has offices and laboratories at the Elm City Bioscience Center, a newly renovated 110,000 square-foot facility within walking distance of Yale that supports emerging New Haven biotechnology companies. Contact:Ashley Carrison(T) (475)655-0533(E) Ashley.Carrison@modifibio.com

Prothena is getting ready to weigh strategic options that may include a sale or partnership, according to a Bloomberg report Monday citing people familiar with the matter. Company shares jumped roughly 23% on the news, giving it a market value of about $2.9 billion.Prothena is working on a closely-watched anti-amyloid beta antibody for Alzheimer's disease, with the rumours surfacing ahead of key data on the drug expected in the coming months. Prothena's portfolio includes PRX012, a next-generation subcutaneously delivered anti-amyloid beta antibody, currently in an ongoing Phase I study for the treatment of Alzheimer's disease. According to Monday's Bloomberg report, sources said Prothena would likely attract interest from large drugmakers if it decides to move forward with a potential sale or tie-up. The report noted that deliberations are still in the early stages, and Prothena could decide to remain independent for longer, particularly if the data due later this year turn out to be negative. Meanwhile, Bristol Myers Squibb recently exercised an option to obtain exclusive worldwide commercial rights to Prothena's anti-tau antibody PRX005. The option stems from a 2018 deal potentially worth up to $2.2 billion between Prothena and Celgene, which Bristol Myers Squibb acquired a few years ago.Eisai is also developing a subcutaneous version of its Biogen-partnered Alzheimer's drug Leqembi (lecanemab), while Eli Lilly's Alzheimer's disease drug candidate donanemab is under US regulatory review.