BRISTOL, N.J. & SEOUL--(BUSINESS WIRE)--Caravan Biologix, Inc., a developer of novel cell-derived vesicle (CDV) therapeutics targeting specific cancers and gene therapy-related diseases, today announced that it has entered into an agreement with Seoul-based MDimune Inc. to apply their nanovesicle technology to enhance the effects of chimeric antigen receptor-expressing natural killer (CAR-NK) cells on various solid tumor cancers. Research findings should provide important insights as Caravan continues to advance the development of its proprietary Mini-CAR� platform for stand-alone therapeutics and whole-cell CAR co-therapies.

�We are pleased to establish this collaboration with MDimune, a developer of bio-extrusion and delivery,� stated Tom Malcolm, Ph.D., CSO and Founder of Caravan Biologix. �Findings from this collaboration will support our mini-CAR-NK CDV program, which focuses on treating primary liver carcinomas and other human diseases.�

Seung Wook Oh, Ph.D., Chief Scientific Officer of MDimune added, �We are thrilled to launch this collaboration with Caravan Biologix. By joining the advanced mini-CAR-NK technology of Caravan and the enormous therapeutic potential of our vesicle technology, we hope to be able to demonstrate that our BioDrone� platform can significantly escalate the therapeutic promise of current CAR-T/NK-based therapies.�

�The signing of this agreement with Caravan Biologix is another important corporate milestone for MDimune. I am very pleased that our highly innovative and detail-oriented analytical approach to produce the highest quality of cell-derived vesicles at low cost has convinced Caravan Biologix to work with us on such an important endeavor to effectively treat patients with solid tumor cancers. It is clear that new solutions are needed to properly address the complexities associated with traditional whole cell CAR therapeutics,� stated Dr. Oh.

About MDimune Inc.

Founded in 2015, MDimune is dedicated to the development of a next-generation drug delivery platform known as BioDrone�. The company aims to provide a new and flexible modality to generate innovative therapeutics that can address the current challenges of cell & gene therapies. Based on cell-derived vesicles (CDVs) obtained from its proprietary extrusion technology, this novel class of drug carriers will enable highly effective drug delivery to various lesions and allow for treatment with minimum side effects and maximum efficacy. The BioDrone� platform technology is patented in the US, Europe, China, Japan, and Korea. BioDrone� Therapeutics Inc. was founded in 2019 in Seattle, WA to facilitate the global business development of BioDrone� platform technology.

www.mdimune.com

About Caravan Biologix, Inc.

Caravan Biologix is a biotechnology company focused on creating novel therapeutic benefits to broad patient populations by addressing the limitations of whole cell chimeric receptor therapeutics. Caravan�s intellectual property protected technology enables it to develop a wide range of delivery and treatment options from gene editors to small molecules. Our allogeneic iPSC-derived mini-CAR� and mini-VAN� platforms, that are based on Cell-Derived Vesicles (CDVs), can be rapidly designed, engineered, and manufactured to build our internal pipeline as well as therapeutics for indications of interest to strategic partners. Caravan�s medicines are expected to show superior safety profiles including lower risk for cytokine release syndrome and other adverse immune reactions. Caravan�s approach will significantly reduce the complexity of manufacturing cell-based therapies, enhance blood-brain barrier penetration properties, and improve the targeted delivery of small molecules and other biologics.

www.caravanbio.com

Contacts

For further information:

Caravan Biologix, Inc.:

Jeff Riley

CEO

+1.917.510.3773

[email protected]

MDimune Inc.

Seung Wook Oh, Ph.D.:

CSO

+82-2-2655-2636

[email protected]; [email protected]