Brooklyn ImmunoTherapeutics completed the acquisition of Novellus Therapeutics for $125m.

Brooklyn ImmunoTherapeutics, a biopharmaceutical company, completed the acquisition of Novellus Therapeutics, a company developing next-generation engineered mesenchymal stem cell therapies, for $125m. "If acquisition of Novellus is transacted, Brooklyn would achieve both strategic and economic benefits. This acquisition would further advance Brooklyn’s evolution into a platform company with a pipeline of next-generation gene and cell therapy programs. We believe Novellus’ next-generation engineered MSC platform can position Brooklyn to become a leader in stem cell therapies, with the ability to develop multiple therapeutic candidates rapidly," Howard J Federoff, Brooklyn CEO and President.