Full Press Release Details
Aditxt to Establish State-of-the-Art Immune Monitoring
Center in Richmond, VA
AditxtScore Center is the first of a planned
immune monitoring network and will initially monitor
COVID-19 immunity status;
New facility expects to target more than 300 jobs
over three years to the area
Mountain View, CA and Richmond, VA - May 3, 2021- Aditxt
(Aditx Therapeutics, Inc.) (Nasdaq: ADTX), a biotech innovation company focused on improving the health of the immune system, today announced
plans to build a high-capacity AditxtScore Center in Richmond, VA in the second half of 2021. Aditxt is targeting a capital investment
of $31.5 million over three years to scale up its state-of-the-art immune monitoring center, including projected new jobs, laboratory
equipment, and construction. The announcement was made at a joint press conference with Governor Ralph Northam, Richmond Mayor Levar Stoney
and other local business executives and political officials.
The new immune monitoring center is being developed to increase processing
capacity for the company's flagship AditxtScore , a pioneering new approach to immune health monitoring that provides a comprehensive
profile of the immune system. By assessing an individual's immune biomarkers, AditxtScore will be able to measure indications
of immunity to specific disease. AditxtScore applications include the recently commercialized AditxtScore for COVID-19,
developed for use in detecting antibodies and neutralizing antibodies against SARS-CoV-2 antigens. Other applications under development
include, among others, predicting dynamic monitoring of the immune system in infectious and autoimmune diseases, organ transplantation,
Amro Albanna, co-founder and CEO of Aditxt, commented, "Richmond
is an ideal location for our first high-capacity AditxtScore Center given its skilled workforce, location, and infrastructure. As we begin
rolling out the AditxtScore platform and applications for immune monitoring, the establishment of an AditxtScore Immune Monitoring Network
is vital to realizing our full vision for AditxtScore, which is to transform how we monitor the immune system from reactive testing to
proactive monitoring. We look forward to working with the community to complete this important step in the execution of Aditxt's
strategic plan, and we are grateful to the Commonwealth of Virginia, Governor Northam, his team, and all involved for their support and
welcoming reception."
Aditxt expects to create more than 300 new jobs over the next three years
to increase AditxtScore processing capacity up to a projected 10 million reports annually in efforts to provide more access to
individuals to monitor and understand their immune profiles. The company will occupy 25,000 square feet of BioTech 8 in the Virginia Bio+Tech
Park, a campus of Activation Capital, with plans for future expansion.
"The Richmond region has emerged as a hub for cutting-edge biotech
companies, and this thriving industry will be bolstered by the addition of Aditxt's Immune Monitoring Center," said Governor
Northam. "The Virginia Bio+Tech Park is an ideal location for the company to continue its groundbreaking work to improve the health
of our communities and help us better understand our own immune systems-something that has become extremely important over the
past year. We are honored to welcome Aditxt to the Commonwealth, and we thank the company for creating more than 300 well-paid jobs for
the people of Virginia."
Support for Aditxt's job creation will be provided through the
Virginia Talent Accelerator Program, a workforce initiative created by VEDP in collaboration with the Virginia Community College System
and other higher education partners, with funding support from the Northam Administration and the Virginia General Assembly. Launched
in 2019, the program accelerates new facility start-ups through the direct delivery of recruitment and training services that are fully
customized to a company's unique products, processes, equipment, standards, and culture. All program services are provided at no
cost to qualified new and expanding companies as an incentive for job creation.
About Aditx Therapeutics
Aditxt is developing technologies specifically focused
on improving the health of the immune system through immune monitoring and reprogramming. The immune monitoring technology is designed
to provide a personalized comprehensive profile of the immune system. The immune reprogramming technology is currently at the pre-clinical
stage and is designed to retrain the immune system to induce tolerance with an objective of addressing rejection of transplanted organs,
autoimmune diseases, and allergies. For more information, please visit: www.aditxt.com
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in this press release constitute "forward-looking statements" within the meaning of federal securities laws. Forward looking
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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 industry
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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 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
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