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Eterna Therapeutics Appoints Matt Angel, Ph.D. as Chief Executive Officer and President

CAMBRIDGE, Mass., Jan. 04, 2023 (GLOBE NEWSWIRE) — Eterna Therapeutics Inc. (Nasdaq: ERNA) (“Eterna” or the “Company”), a biopharmaceutical company using advanced cell engineering technology to develop transformational new medicines, today announced the appointment of Matt Angel, Ph.D. as Chief Executive Officer (“CEO”) and President. Dr. Angel has served as Interim CEO and President of Eterna since May 2022 and will continue to serve on the Company’s Board of Directors.

“The Board and I are delighted that Matt will serve as CEO and President in a permanent capacity, and we remain confident in his continued ability to lead Eterna as the company executes on its core strategy of advancing Eterna’s mRNA cell engineering platform,” said Charles Cherington, Chairman of the Board of Directors of Eterna. “While Interim CEO and President, Matt has guided Eterna’s efforts to realize the full potential of this powerful suite of technologies.”

“I am thrilled to continue leading and serving Eterna as CEO and President, and I am proud of all that we have accomplished over the past six months,” said Matt Angel, Ph.D. “As we move into 2023, we believe that Eterna is uniquely positioned to deploy its extensive in-licensed patent portfolio covering key mRNA, induced pluripotent stem (iPS) cell and gene editing technologies. A top priority for 2023 will be to leverage our in-licensed patent portfolio to drive value creation for our stakeholders.”

Dr. Angel joined Eterna as Interim CEO and President in May 2022 and was appointed a member of the Board of Directors. He is an experienced biotechnology entrepreneur and executive with deep experience in 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. In addition to his role at Eterna, Dr. Angel serves as Co-Founder, Chairman and CEO of Factor Bioscience Inc., and Co-Founder and Scientific Advisory Board Chair of Exacis Biotherapeutics. He previously served as Co-Founder and Chief Scientific Officer of Novellus Therapeutics, which was acquired by Eterna in 2021. Dr. Angel received his B.S.E. from Princeton University and Ph.D. from the Massachusetts Institute of Technology.

About Eterna Therapeutics

Eterna’s mission is to realize the potential of cell engineering to provide patients with transformational new medicines. The Company has in-licensed a portfolio of over 100 patents covering key cell engineering technologies, including what it believes are the most widely used methods for therapeutic gene editing currently in clinical development. 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; (v) Eterna ’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 Eterna, 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 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, 2021, as amended, as well as under similar headings in Eterna’s subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

Investor Relations Contact:

investors@eternatx.com

Media Contact:

EternaPR@westwicke.com