CYAD - Celyad to sell cell therapy manufacturing site to Cellistic for Euro6M

• Ncardia's unit Cellistic is acquiring Celyad Oncology's ( NASDAQ: CYAD ) cell therapy manufacturing facility and related personnel (the manufacturing business unit) in Mont-Saint-Guibert, Belgium for €6M.
• The transaction is subject to conditions and is expected to close in Q4 of this year, Celyad said in a Sept. 20 press release.
• "Our current allogeneic programs are better suited for outsourced manufacturing. Through existing materials manufactured at Celyad ( CYAD ), we have ensured the means to continue our clinical programs with cryopreserved cells until 2024," said Celyad Co-Founder and Interim CEO Michel Lussier.
• Belgium-based Celyad added that it will provide additional guidance on the future business strategy in Q4.
• Cellistic noted that it will invest substantial capital in the 11K square foot facility, which will be optimized for its iPSC-based allogeneic cell therapy platforms.

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