CAMBRIDGE, Mass., May 24, 2023 (GLOBE NEWSWIRE) -- Eterna Therapeutics Inc. (Nasdaq: ERNA) (“Eterna” or the “Company”), a life science company committed to realizing the potential of mRNA cell engineering to provide patients with transformational new medicines, today announced the appointment of Megan Yung as Chief Strategy Officer and General Counsel. Ms. Yung will work with Eterna’s senior leadership and the Board of Directors to develop and advance the Company’s corporate strategy. Ms. Yung will also oversee the company’s legal activities, including licensing and intellectual property matters.

“Megan is an experienced biotech strategist with a proven track record of building value for companies through high-value strategic transactions and we are thrilled to welcome her to Eterna’s leadership team,” said Matt Angel, Ph.D., Chief Executive Officer and President of Eterna. “Her deep experience operating at the intersection of science, corporate strategy and intellectual property will benefit Eterna, our current and potential partners, and our shareholders through her focus on advancing the company's business strategies, as we continue supporting the development of next-generation mRNA-based therapeutic products.”

Ms. Yung added, “I look forward to working closely with the Eterna leadership team and Board to advance the company’s strategy while maintaining capital efficiency, as Eterna enters a new chapter following its recent acquisition of Exacis Biotherapeutics. RNA-based therapeutics have continued to garner significant scientific and investor interest and Eterna is well-primed to create value through new strategic collaborations.”

Ms. Yung holds a J.D. from The George Washington University Law School and joins Eterna from SQZ Biotechnologies, where she served as Deputy General Counsel and Vice President, Head of Intellectual Property, and helped oversee matters of intellectual property, regulatory compliance, public company reporting, business development activities and negotiations, and government affairs. Prior to SQZ, Ms. Yung held in-house counsel positions where she served as a key member of the deal teams involving strategic bet-the-company, venture capital, and private equity financing deals, and as chief counsel on all litigation, including intellectual property, employment matters, and class action law suits. These successful activities built on the expertise she cultivated as an intellectual property attorney at Quinn Emanuel Urquhart & Sullivan, Mintz Levin Cohn Ferris Glovksy and Popeo, and Foley & Lardner, where she represented and advised biotech and pharmaceutical companies in patent litigation, prosecution, and IP strategy.

About Eterna Therapeutics

Eterna Therapeutics is a life science company committed to realizing the potential of mRNA cell engineering to provide patients with transformational new medicines. Eterna has in-licensed a portfolio of over 130 patents covering key mRNA cell engineering technologies, including technologies for mRNA cell reprogramming, mRNA gene editing, the NoveSlice™ and UltraSlice™ gene-editing proteins, and the ToRNAdo™ mRNA delivery system from Factor Bioscience. NoveSlice™, UltraSlice™, and ToRNAdo™ are trademarks of Factor Bioscience. For more information, please visit www.eternatx.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,” “anticipate,” “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 Eterna’s business model into a platform company focused on mRNA, iPS cell and gene editing technologies; (ii) Eterna’s ability to successfully, cost-effectively and efficiently develop its technology and products; (iii) Eterna’s ability to successfully commence clinical trials of any products on a timely basis or at all; (iv) Eterna’s ability to successfully fund and manage the growth of its development activities; and (v) Eterna ’s ability to obtain regulatory approvals of its products for commercialization. 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 Eterna 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 Eterna’s actual results to differ from those expressed or implied in forward-looking statements contained in this press release are more fully disclosed in Eterna’s periodic public filings with the U.S. Securities and Exchange Commission, particularly under the heading “Risk Factors” in Eterna’s Annual Report on Form 10-K for the year ended December 31, 2022, as well as under similar headings in Eterna’s subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

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