Exhibit 99.1
Athenex Announces Completion of Sale of Dunkirk Manufacturing Facility
Buffalo, N.Y., FEBRUARY 15, 2022 (GLOBE NEWSWIRE) – Athenex, Inc., (NASDAQ: ATNX), a global biopharmaceutical company dedicated to the discovery, development, and commercialization of novel therapies for the treatment of cancer and related conditions, announced today the close of the sale of its leasehold interest in a manufacturing facility in Dunkirk, New York, to ImmunityBio, Inc. (NASDAQ: IBRX), for approximately $40 million.
“We are pleased with the opportunity to partner with ImmunityBio on the sale of our leasehold at the Dunkirk facility,” said Jeffrey Yordon, Chief Operating Officer, President Athenex Pharmaceutical Division, “They are well positioned to build on the foundation that we established in this state-of-the-art facility, and we look forward to continuing to work with the Dunkirk team in the future as a contract manufacturing partner.”
A portion of the proceeds from the deal announced on January 12, 2022 will be used to service the Company’s debt obligations, and for other general corporate purposes. Further information about the agreement and use of proceeds of the sale can be found in a Form 8-K filed by Athenex with the Securities and Exchange Commission on February 15, 2022.
About Athenex, Inc.
Founded in 2003, Athenex, Inc. is a global clinical-stage biopharmaceutical company dedicated to becoming a leader in the discovery, development, and commercialization of next generation drugs for the treatment of cancer. Athenex is organized around three platforms, including an Oncology Innovation Platform, a Commercial Platform, and a Global Supply Chain Platform. The Company’s current clinical pipeline is derived mainly from the following core technologies: (1) Orascovery, based on P-glycoprotein inhibitor, (2) Src kinase inhibition, and (3) Cell therapy. Athenex’s employees worldwide are dedicated to improving the lives of cancer patients by creating more active and tolerable treatments. For more information, please visit www.athenex.com.
Forward-Looking Statements
Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. These forward-looking statements are typically identified by terms such as “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “foresee,” “goal,” “guidance,” “intend,” “likely,” “may,” “plan,” “potential,” “predict,” “preliminary,” “probable,” “project,” “promising,” “seek,” “should,” “will,” “would,” and similar expressions. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: whether we enter into a preferred contract manufacturing agreement with ImmunityBio, the development stage of our primary clinical candidates, including NKT Cell Therapy and related risks involved in drug development, clinical trials, regulation, uncertainties around regulatory reviews and approvals; our ability to scale our manufacturing and commercial supply operations for current and future approved products, and ability to commercialize our products, once approved; ability to successfully demonstrate the safety and efficacy of its drug candidates and gain approval of its drug candidates on a timely basis, if at all; the preclinical and clinical results for Athenex’s drug candidates, which may not support further development of such drug
