Full Press Release Details
Aditxt Issues Shareholder Update
RICHMOND, Va. (April 17, 2023) - Aditxt, Inc,
(NASDAQ: ADTX) ("Aditxt" or the "Company"), a global innovation
company focused on therapeutics and technologies that monitor and modulate the immune system, is
pleased to provide an important update regarding its three innovation programs and strategic M&A initiatives.
PEARSANTA, INC. (IMMUNE MONITORING)
Aditxt's Pearsanta Designated as the
Backup Bidder in Lucira Chapter 11 Auction
"The interest in the Lucira assets at auction shows the sheer
value of the test-to-treat model," said Amro Albanna, co-founder, chairman and CEO of Aditxt. and current acting CEO of Pearsanta.
"Adixt's mission is to advance innovations that allow people to make better, smarter, more informed decisions about their
health based on more insightful data. The technology that we've already invested in-along with the therapeutics in our portfolio-mirror
our mission of innovation built by the people and for the people."
ADIVIR, INC. (THERAPEUTICS)
Adivir, Inc. is Formed as a Wholly Owned Subsidiary to Expand into
Broad-Spectrum Antiviral Market
Discussions continue with biopharmaceutical company Cellvera to
acquire certain of its assets.
"We believe that this proposed transaction with Cellvera will
promote the Company's mission in developing innovative therapies for infectious diseases," said Albanna. "Avigan
is an attractive candidate for the treatment of a wide range of viral infections that today plague people the world over."
INC. (Immune Modulation Program)
Adimune Continues to Move Forward with Human Clinical Trials in
Currently working toward adding Human Trials in the U.S. as early
is dedicated to a new era of precision medicine through individual immune monitoring and modulation," Albanna states. "We
are laser-focused on advancing each of our innovation programs toward commercialization. Adimune's initiation of ADI-100 manufacturing
is measurable progress of Adimune toward our 2023 strategic goals."
The Company may engage in future acquisitions or strategic transactions
which may require additional financing or financial commitments. As of December 31, 2022, the Company had cash of approximately $2.8 million.
The amount of capital that a company such as ours is able to raise often depends on variables that are beyond our control. As a result,
we may not be able to secure financing on terms attractive to us, or at all. If we are able to consummate a financing arrangement, the
amount raised may not be sufficient to execute on one or more of the transactions that we are pursuing or meet our future needs. If adequate
funds are not available on acceptable terms, or at all, our business, including our results of operations, financial condition and our
continued viability will be materially adversely affected.
Aditxt, Inc. (NASDAQ: ADTX) is a global innovation
company focused on therapeutics and technologies that monitor and modulate the immune system. Headquartered in Richmond, Virginia, with
operations in Silicon Valley, California, and New York, New York. Aditxt's mission of "Making Promising Innovations Possible,
Together" is defined by our growing ecosystem of research institutions, global industry partners and shareholders who inform and
inspire our mission. Aditxt's diverse innovation portfolio includes: Adimune, Inc. , developing and designing a new class
of therapeutics for retraining the immune system to address organ rejection, autoimmunity, and allergies; Adivir, Inc. , focused
on identifying, developing and commercializing new ways to treat infectious diseases; and Pearsanta, Inc. , which offers personalized
immune monitoring for a wide range of health conditions, including hereditary cancer, wounds and cardiomyopathy.
For more information, visit the Company's websites at www.Aditxt.com,
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking
statements" within the meaning of federal securities laws. Forward-looking statements include statements regarding the Company's
intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things, the Company's ongoing and
planned product and business development; the Company's ability to execute on its strategic M&A initiatives; the Company's
ability obtain the necessary funding and partner to commence clinical trials; the Company's intellectual property position; the Company's
ability to develop commercial functions; expectations regarding product launch and revenue; the Company's results of operations, cash
needs, spending, financial condition, liquidity, prospects, growth and strategies; the Company's ability to raise additional capital;
the industry in which the Company operates; and the trends that may affect the industry or the Company. Forward-looking statements are
not guarantees of future performance and actual results may differ materially from those indicated by these forward-looking statements
as a result of various important factors, as well as market and other conditions and those risks more fully discussed in the section titled
"Risk Factors" in the Company's most recent Annual Report on Form 10-K, as well as discussions of potential risks, uncertainties,
and other important factors in the Company's other filings with the Securities and Exchange Commission. All such statements speak only
as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as
a result of new information, future events or otherwise, except as required by law.
Investor relations and media contact:ir@aditxt.com