NexImmune Announces Workforce Reduction to Enable Continued AIMTM Nanoparticle Platform Development Strategy
31 Agosto 2023 - 5:45PM
NexImmune, Inc. a biotechnology company developing a novel approach
to immunotherapy designed to orchestrate a targeted immune response
by directing the function of antigen-specific T cells in oncology,
autoimmune and infectious diseases, today announced that, in order
to reduce its cash expenditures while continuing to pursue its
existing strategic plan, its Board of Directors approved and its
management is implementing an approximately 53% reduction in
workforce, designed to reduce costs and extend the Company’s cash.
The realignment will reduce the Company’s workforce from 47 to 22
full-time employees as of September 5, 2023.
“We continue to make significant progress in generating
important, validating pre-clinical data for our off-the-shelf
multi-antigen-specific T cell-directing products,” said Kristi
Jones, NexImmune’s CEO. “The workforce reduction protects our core
capabilities to advance novel therapeutic candidates and our
multiplex validation of functional antigen-specific T cell
responses while giving us additional flexibility to manage our
business.”
Jones continued: “The ability of our nanoparticles to direct T
cell function has been validated in preclinical studies, not only
by NexImmune, but also by our collaborators at leading institutions
and other outside experts. This validation underscores
the significance of our technology and its potential to unlock new
possibilities in the field of immuno-oncology and other disease
areas.”
“I want to express my sincere gratitude for the incredible work
and dedication of our departing employees, whose contributions have
been invaluable, and to the entire team for their dedication to our
mission to deliver meaningful benefit to patients.”
In connection with the workforce reduction, John
Trainer, the Company’s Chief Financial Officer, will depart the
Company effective as of September 2, 2023. Mr. Trainer will
transition to providing consulting and advisory services to the
Company pursuant to a consulting agreement.
About NexImmune
NexImmune is developing novel approach to
immunotherapy designed to employ the body’s own T cells to generate
a specific, potent, and durable immune response. The backbone of
NexImmune’s approach is a proprietary Artificial Immune Modulation
(AIM™) nanoparticle technology platform. The AIM technology enables
NexImmune to construct nanoparticles that function as synthetic
dendritic cells capable of directing a specific T cell-mediated
immune response. AIM constructed nanoparticles employ natural
biology to engage, activate and expand endogenous T cells in ways
that combine anti-tumor attributes of antigen-specific precision,
potency and long-term persistence with reduced potential for
off-target toxicities. NexImmune is focused on developing
injectable AIM nanoparticle constructs and modalities for potential
clinical evaluation in oncology, autoimmune disorders and
infectious diseases.
For more information, visit www.neximmune.com.
Forward Looking Statements
This press release may contain “forward-looking”
statements within the meaning of the Private Securities Litigation
Reform Act of 1995 that are based on the beliefs and assumptions
and on information currently available to management of NexImmune,
Inc. (the “Company”). All statements other than statements of
historical fact contained in this press release are forward-looking
statements, including statements concerning the impact of our
workforce reduction; the enrollment, timing, progress, release of
data from and results of the Company’s paused clinical trials and
the expectations with respect to potential AIM INJ product
candidates; the timing, progress and release of preclinical data
from our AIM INJ platform programs and other preclinical research
programs; the expectation of submitting an IND for NEXI-101
(injectable) in 2024; and the utility of prior preclinical and
clinical data in determining future clinical results. In some
cases, you can identify forward-looking statements by terminology
such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,”
“believes,” “estimates,” “predicts,” “potential” or “continue” or
the negative of these terms or other comparable terminology.
Forward-looking statements involve known and unknown risks,
uncertainties and other factors that may cause the Company’s actual
results, performance or achievements to be materially different
from any future results, performance or achievements expressed or
implied by the forward-looking statements. These risks and
uncertainties include, but are not limited to, the risks and
uncertainties set forth in the “Risk Factors” section of our Annual
Report on Form 10-K for the year ended December 31, 2022 filed
with the Securities and Exchange Commission (“SEC”) on
March 28, 2023, and subsequent reports that we file with the
SEC. Forward-looking statements represent the Company’s beliefs and
assumptions only as of the date of this press release. Although the
Company believes that the expectations reflected in the
forward-looking statements are reasonable, it cannot guarantee
future results, levels of activity, performance or achievements.
Except as required by law, the Company assumes no obligation to
publicly update any forward-looking statements for any reason after
the date of this press release to conform any of the
forward-looking statements to actual results or to changes in its
expectations.
Contacts
Investors:
Chad Rubin, SVP Corporate Affairs
NexImmune, Inc.
crubin@neximmune.com
NexImmune (NASDAQ:NEXI)
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