Rubius Therapeutics (RUBY) Issues Strategic Update

Rubius Therapeutics, Inc. (Nasdaq: RUBY), a biopharmaceutical company that is developing an entirely new class of cellular medicines called Red Cell Therapeutics™ for the treatment of cancer and autoimmune diseases, today announced plans to restructure the Company and align resources to advance its next generation red blood cell-based cell conjugation platform.

“With more than 80 patients dosed across three clinical trials to date, Rubius Therapeutics has demonstrated that engineered red blood cells can be manufactured at scale, safely administered and activate a patient’s immune system, resulting in clinical benefit in certain cancer patients, including evidence of tumor shrinkage and prolonged stable disease in PD-(L)-1 refractory solid tumors,” said Pablo J. Cagnoni, M.D., president and chief executive officer of Rubius Therapeutics. “Based on these early findings, we firmly believe in the potential of Red Cell Therapeutics for the treatment of cancer and autoimmunity. Following careful review of recent technical progress in an alternative format for making Red Cell Therapeutics, we believe that this process has the potential for substantive improvements over our existing platform, and, therefore, continued investment in our two current clinical candidates is no longer justified. Instead, we plan to focus on advancing a next generation red blood cell platform that utilizes cell conjugation to potentially improve upon the existing benefits of the RED PLATFORM, with the potential for greater efficacy and enhanced versatility, while maintaining our favorable tolerability profile. As a result, we have decided to discontinue our ongoing clinical trials of RTX-240 and RTX-224 for the treatment of advanced solid tumors and restructure the organization to support advancing drug candidates based on the next generation platform. I would like to express my sincere gratitude to the patients who participated in our clinical trials, the investigators who partnered with us in this endeavor and our employees for their immense dedication and contributions that have brought us to where we are today.”

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