Brooklyn ImmunoTherapeutics Announces Board Changes

SAN DIEGO, June 07, 2022 (GLOBE NEWSWIRE) -- Brooklyn ImmunoTherapeutics, Inc. (NASDAQ:BTX) ("Brooklyn" or the "Company"), a biopharmaceutical company focused on exploring the role that cytokine, gene editing, and cell therapy can have on the immune system for treating patients with cancer, blood disorders, and monogenic diseases, today announced the following appointments to the Board, effective June 5, 2022:

• Matt Angel, Ph.D., Interim Chief Executive Officer ("CEO") of Brooklyn and Co-Founder, Chairman, President and CEO of Factor Bioscience Inc.
• Gregory Fiore, Co-Founder, President, and CEO of Exacis Biotherapeutics
• Nicholas Singer, Founder and Managing Member of Purchase Capital
• Bill Wexler, Chairman and CEO of Homer City Holdings, LLC

"We are thrilled to welcome Matt Angel, Gregory Fiore, Nicholas Singer, and Bill Wexler to our Board of Directors," said Charles Cherington, Brooklyn's Chairman of the Board. "Each brings experience in key sectors relevant to our business that will be valuable as we propel the company into its next phase of growth and development."

Erich Mohr, Dennis Langer, Heather Redman, and Erin Enright departed the Board effective June 5, 2022.

"On behalf of our entire company, I would like to express my gratitude to Erich Mohr, Dennis Langer, Heather Redman, and Erin Enright for their time and dedication to the Board and Brooklyn ImmunoTherapeutics," said Cherington. "Their stewardship will allow for a seamless transition, and I wish them continued success in their future endeavors."

Matt Angel, Ph.D.

Dr. Angel is an experienced biotechnology entrepreneur and executive, having led Factor Bioscience Inc. as CEO since its founding in 2011. Dr. Angel is Co-Founder of the immuno-oncology company, Exacis Biotherapeutics, where he serves as Scientific Advisory Board Chair, and the cell therapy company, Novellus Therapeutics, which was acquired by Brooklyn in 2021. Dr. Angel has deep experience in cell therapy product development, intellectual property protection and licensing, contract negotiation, including collaboration and licensing agreements, and has raised more than $150 million through grants, equity financings, and M&A. A pioneer in mRNA technology, Dr. Angel is a prolific inventor with more than 100 patents covering mRNA, nucleic acid delivery, gene editing, and cell reprogramming technologies. Dr. Angel received his Ph.D. from the Massachusetts Institute of Technology, where he studied immunology and synthetic RNA.

Gregory Fiore, MD

Dr. Fiore is a co-founder and is the President and Chief Executive Officer of Exacis Biotherapeutics. He is a pharmaceutical/biotechnology executive and entrepreneur and is a co-founder and former CEO of Sollis Therapeutics, where during his tenure as CEO he raised ~$50M in funding from State grants as well as strategic venture investors. He oversaw the regulatory strategy development and initiation of pivotal clinical trials for the Company's lead compound. Before this he provided C-level medical support as consultant and acting Chief Medical Officer for several early-stage biotechnology companies through two consultancies he founded. Dr. Fiore was the first CMO of The Medicines Company and held a variety of leadership roles at The Medicines Company, Merck and Abbott Laboratories after spending time as a management consultant at McKinsey and Company. Dr. Fiore completed Internal Medicine internship and residency as well as received clinical Pulmonary / Critical Care training at Harvard Medical School and received his MD degree from New York Medical College.

Nicholas Singer

Nicholas J. Singer has over 20 years of experience in finance and investments and is the Founder and Managing Member of Purchase Capital. He is also the Founder and Executive Chairman of United Parks, the Executive Chairman of IntegriCo Composites, the Chairman of Only What You Need (OWYN), and a Trustee of the Pérez Art Museum Miami. From 2007 to 2013, Mr. Singer was the Co-Founder & Co-Managing Member of Standard General, an SEC registered investment advisor which managed over $1 billion of assets during his tenure. Prior to that, he was a Founding Partner of Cyrus Capital Partners, a Principal at Och-Ziff Capital Management, and an Analyst in High Yield Trading and in the Principal Investment Area at Goldman Sachs & Co. He graduated summa cum laude with a B.S. in Economics from the Wharton School and a B.A.S. in Electrical Engineering from the School of Engineering and Applied Science at the University of Pennsylvania.

Bill Wexler

Mr. Wexler has worked on over 150 individual projects, serving in various capacities including: Chairman; Chief Executive Officer; Chief Restructuring Officer and other designated roles of senior responsibility. Since 2017, he has served as Chairman of the Board and Chief Executive officer of Homer City Holdings, LLC which owns and operates a multiple unit merchant power plant which is located in western Pennsylvania. From July 2012 to December 2019, he served in various roles, including as Chairman of the Board, Chief Executive Officer and sole Director and shareholder representative of Upstate New York Power Products, Inc. which owned and operated merchant power plants throughout upstate New York. From January 2012 to April 2013, Mr. Wexler served as Chief Restructuring Officer of VMR Electronics, LLC, a manufacturer of cable assembly products for the electronics interconnect industry. Between 2006 and 2011, he served as a managing director and national finance practice lead at BBK, Ltd., a turn-around advisory firm. From 2002 to 2005, he served as Group Managing Director of Corporate Restructuring at Huron Consulting Group, LLC. From 2000 to 2002, he was a Managing Director at Berenson Minella & Co., a boutique investment-banking firm. Between 1986 and 2000 he served as a Senior Director at BNP Paribas, where he established and led Paribas Properties, Inc., a real estate investment arm of the bank. In addition, he was a Senior Officer in the bank's North American asset workout group. Mr. Wexler began his career in 1981 in commercial lease brokerage, asset management and investment sales at Jones Lang Wootton. He earned a B.A. in Political Science from Johns Hopkins University.

About Brooklyn ImmunoTherapeutics

Brooklyn is focused on exploring the role that cytokine, gene editing, and cell therapy can have in treating patients with cancer, blood disorders, and monogenic diseases. Brooklyn has multiple next-generation cell and gene-editing therapies in preclinical development for various indications including acute respiratory distress syndrome, solid tumor indications, as well as in vivo gene-editing therapies for rare genetic diseases. For more information about Brooklyn and its clinical programs, please visit www.BrooklynITx.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are any statements that are not statements of historical fact and may be identified by terminology such as "believe," "could," "estimate," "expect," "plan," "possible," "potential," "project," "will" or other similar words and the negatives of such words. Forward-looking statements are based on current beliefs and assumptions that are subject to risks and uncertainties and are not guarantees of future performance. Actual results could differ materially from those stated or implied in any forward-looking statement as a result of various factors, including, but not limited to, uncertainties related to: (i) the evolution of Brooklyn's business model into a platform company focused on cellular, gene editing and cytokine programs; (ii) Brooklyn's ability to successfully, cost-effectively and efficiently develop its technology and products; (iii) Brooklyn's ability to successfully commence clinical trials of any products on a timely basis or at all; (iv) Brooklyn's ability to successfully fund and manage the growth of its development activities; (v) Brooklyn's ability to obtain regulatory approvals of its products for commercialization; and (vi) uncertainties related to the impact of the COVID-19 pandemic on the business and financial condition of Brooklyn, including on the timing and cost of its clinical trials. You should not rely upon forward-looking statements as predictions of future events. The forward-looking statements made in this communication speak only as of the date on which they were made, and Brooklyn does not undertake any obligation to update the forward-looking statements contained herein to reflect events that occur or circumstances that exist after the date hereof, except as required by applicable law. Factors that may cause Brooklyn's actual results from those expressed or implied in forward-looking statements contained in this press release are more fully disclosed in Brooklyn's periodic public filings with the U.S. Securities and Exchange Commission, particularly under the heading "Risk Factors" in Brooklyn's Annual Report on Form 10-K for the year ended December 31, 2021.

Investor Relations Contact:

Solebury Trout

917-936-8430

[email protected]

Media Contact:

Michael V. Morabito, Ph.D.

Solebury Trout

917-936-8430

[email protected]