Completed $5.8 million private placement financing at 25% premium Upcoming presentation of agenT-797 in severe respiratory distress at the American Thoracic Society (ATS) AACR presentation reported MiNK-215 eliminated MSS colorectal cancer liver metastases in human organoid models NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- MiNK Therapeutics, Inc. (NASDAQ:INKT), a clinical-stage biopharmaceutical company pioneering the discovery, development, and commercialization of allogeneic, off-the-shelf, invariant natural killer T (iNKT) cell therapies to treat cancer and other immune-mediated diseases, today announced results for the first quarter 2024. MiNK executives will host a conference call and webcast at 8:30 a.m. ET to discuss the results and provide a corporate update. "This quarter we made significant strides across our iNKT cell programs, as we remain focused on generating clinical data from our lead program, agenT-797, strengthening our financial position, and advancing our innovative next-generation therapies," said Dr. Jennifer Buell, Chief Executive Officer, and President of MiNK. "The $5.8 million capital infusion will enable us to accelerate the advancement of MiNK-215 into the clinic, which we believe has exciting potential to address significant unmet needs in solid tumor cancers, as demonstrated by the pre-clinical data we recently presented at AACR." Business Updates: MiNK successfully closed a private placement financing (PIPE) agreement, raising $5.8 million with a new investor. The proceeds will accelerate the clinical entry of MiNK-215, an investigational IL-15 armored fibroblast activation protein (FAP)-targeting CAR-iNKT cell therapy, currently in IND enabling studies with a filing planned for 2025. Yekaterina ("Katie") Chudnovsky, an accomplished attorney, venture investor, and dedicated patient advocate, has been appointed as a Board Observer at MiNK. Clinical Program Updates: AgenT-797 in Gastroesophageal Cancers: Phase 2 investigator-sponsored trial, led by Dr. Yelena Janjigian at Memorial Sloan Kettering Cancer Center, has been actively enrolling since February 2024. The trial assesses the combination of agenT-797 with Agenus' botensilimab, balstilimab, and standard of care chemotherapy with initial results expected later this year (NCT06251973). ATS Annual Meeting Presentation: A poster presentation at the upcoming ATS Annual Meeting on May 21, 2024, will highlight the clinical efficacy of agenT-797 in treating respiratory distress, particularly focusing on a complex case involving severe COVID-19 complications in a renal transplant patient. Abstract Title: Persistent SARS-CoV-2 Viremia, COVID-19 Associated Acute Respiratory Distress Syndrome, Severe Coagulopathy and Massive Hemoptysis in a Renal Transplant Patient on Veno-Venous Extracorporeal Membrane Oxygenation Abstract Number: P439 Date and Time: May 21, 2024, 11:30 a.m. – 1:15 p.m. PST MiNK-215 Development: Data presented at the AACR Annual Meeting in April 2024, presented robust preclinical data showing MiNK-215's effectiveness against MSS colorectal cancer liver metastases. The therapy demonstrated significant tumor elimination capabilities through immune activation, tumor stroma remodeling, and enhanced tumor killing. Plans are in place to fast-track the IND filing to early 2025. Financial Results We ended the quarter with a cash balance of $5.8 million. Cash used in operations for the three months ended March 31, 2024 was $2.5 million compared to $4.4 million for the same period in 2023. Net loss for the first quarter of 2024 was $3.8 million, or $0.11 per share, compared to $5.7 million, or $0.17 per share, for the first quarter of 2023. Summary Consolidated Financial Information         Condensed Consolidated Balance Sheet Data (in thousands) (unaudited)           March 31, 2024   December 31, 2023         Cash and cash equivalents $ 5,817     $ 3,367   Total assets   6,894       4,552