• Received IND clearance and initiated first-in-human Phase 1 clinical trial for lead asset, ADI-001, an anti-CD20 allogeneic CAR gamma-delta T cell therapy, interim clinical data expected in 2021
    • Successfully raised $143.6 million in net proceeds through a public offering and concurrent private placement to advance a pipeline of CAR gamma-delta T cell therapies

    MENLO PARK, Calif. and BOSTON, March 11, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today reported financial results and provided a business update for the fourth quarter and full year ended December 31, 2020.

    "Over the past year, Adicet achieved several…

    • Received IND clearance and initiated first-in-human Phase 1 clinical trial for lead asset, ADI-001, an anti-CD20 allogeneic CAR gamma-delta T cell therapy, interim clinical data expected in 2021
    • Successfully raised $143.6 million in net proceeds through a public offering and concurrent private placement to advance a pipeline of CAR gamma-delta T cell therapies

    MENLO PARK, Calif. and BOSTON, March 11, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today reported financial results and provided a business update for the fourth quarter and full year ended December 31, 2020.

    "Over the past year, Adicet achieved several development and operational milestones including the initiation of our first-in-human Phase 1 for ADI-001 for the treatment of B cell non-Hodgkin's lymphoma, the completion of our merger with resTORbio, and the expansion of our leadership team with the appointments of Nick Harvey as Chief Financial Officer, Dr. Don Healey as Chief Technology Officer and Dr. Bastiano Sanna and Dr. Andrew Sinclair to our Board of Directors," said Chen Schor, President and Chief Executive Officer of Adicet. "Recently, we successfully raised significant capital to support further development of our robust pipeline comprising of gamma delta T cell therapies. These accomplishments have put us in a strong position to execute on our Phase 1 study of ADI-001, with interim clinical data expected in 2021, and expand our pipeline of "off-the-shelf" gamma delta T cell therapies that will potentially provide for a targeted, durable, and on demand treatment option for solid and hematologic tumors."

    Full Year 2020 & Recent Business Updates:

    • Successfully raised $143.6 million in net proceeds through a public offering and concurrent private placement. In February 2021, Adicet Bio successfully completed a capital financing of $152 million in aggregate gross proceeds. After deducting underwriting discounts and commissions and offering expenses, the Company received $143.6 million of net proceeds. The Company plans to utilize the net proceeds from the financing to advance its gamma delta T cell therapies.

    • Appointed two new members to the Company's Board of Directors. In December 2020, Adicet announced the appointment of Bastiano Sanna, Ph.D., to its Board of Directors. Dr. Sanna brings significant expertise in advancing research, development and manufacturing of cell therapies. He currently serves as Executive Vice President and Chief of Cell and Genetic Therapies at Vertex Pharmaceuticals. In March 2021, Adicet announced the appointment of Andrew Sinclair, Ph.D., to its board of directors. Dr. Sinclair brings significant financial and scientific experience amassed through his career. He currently serves as a partner and portfolio manager at Abingworth LLP, a life sciences investment group.

    • Strengthened the management team with the appointment of Nick Harvey as Chief Financial Officer and Dr. Don Healey as Chief Technology Officer.

    In September 2020, Adicet announced the appointment of Nick Harvey as Chief Financial Officer. Mr. Harvey leads the execution of the Company's financial strategy, as well as manages activities related to accounting, capital markets and business operations. He brings over two decades of experience in financial operations, capital markets, investor relations and M&A transactions to the Adicet team, as well as extensive experience managing the corporate growth of life sciences companies.

    In October 2020, Adicet announced the appointment of Don Healey, Ph.D., as Chief Technology Officer. Dr. Healey leads the development of Adicet's genetically-modified T cell therapies for clinical development and commercialization, including manufacturing, viral vector operations and analytics. Dr. Healey brings nearly two decades of experience in cell therapy development and manufacturing to the Adicet team.

    • Completed merger with resTORbio. In September 2020, Adicet announced the completion of its merger with resTORbio, Inc. and commenced trading under the ticker symbol "ACET" on the Nasdaq Global Market on September 16, 2020.

    • Received $10 million product development milestone from Regeneron. In August 2020, Adicet received a $10 million milestone payment associated with ADI-002 meeting key preclinical development goals, in accordance with the terms of its strategic collaboration with Regeneron.

    Financial Results for Fourth Quarter and Full Year 2020:

    Three months Ended December 31, 2020

    • Research and Development (R&D) Expenses: R&D expenses were $9.7 million for the three months ended December 31, 2020, compared to $6.5 million during the same period in 2019. The $3.2 million increase is primarily driven by an increase of $1.7 million in payroll and personnel expenses due to increases in headcount of employees involved in research and development activities and an increase of $1.3 million in fees incurred for CRO and consultant costs due to initiating and ramping up clinical development activities related to our first product candidate ADI-001. Payroll and personnel expenses for the three months ended December 31, 2020 includes $0.6 million of non-cash stock-based compensation expense compared to $0.1 million during the same period in 2019.

    • General and Administrative (G&A) Expenses: G&A expenses were $5.1 million for the three months ended December 31, 2020, compared to $2.6 million during the same period in 2019. The $2.5 million increase is primarily driven by an increase of $1.0 million of payroll and personnel expenses, an increase of $0.7 million of professional fees for legal, consulting, accounting, tax and other services, and an increase of $0.8 million in facility and other expenses. Payroll and personnel expenses for the three months ended December 2020 includes $1.1 million of non-cash stock-based compensation expense compared to $0.2 million during the same period in 2019.

    • Net Loss: Net loss attributable to common shareholders for the three months ended December 31, 2020 was $9.0 million, or a net loss of $0.46 per basic and diluted share, including non-cash stock-based compensation expense of $1.6 million, as compared to a net loss of $6.6 million during the same period in 2019, or a net loss of $3.05 per basic and diluted share, including non-cash stock-based compensation expense of $0.3 million.

    Twelve Months Ended December 31, 2020

    • Research and Development (R&D) Expenses: R&D expenses were $34.3 million for the year ended December 31, 2020, as compared to $23.7 million for year ended December 31, 2019. The increase of $10.6 million in R&D expenses year-over-year was primarily due to an increase of $5.3 million related to payroll and personnel expenses due to increases in headcount of employees involved in research and development activities and an increase of $4.6 million in fees incurred for CMO, CRO and consultant costs due to initiating and ramping up manufacturing and clinical development activities related to our first product candidate ADI-001.
    • General and Administrative (G&A) Expenses: G&A expenses were $22.8 million for the year ended December 31, 2020, compared to $8.7 million for the year ended December 31, 2019. The increase was primarily due to an increase of $7.1 million of professional fees for legal, consulting, accounting, tax and other services related to transaction costs incurred in connection with the merger with resTORbio, an increase of $4.1 million of facilities and other expenses and an increase of $2.7 million of non-cash stock compensation expense.
    • Net Loss: Net loss attributable to common shareholders for the year ended December 31, 2020 was $36.7 million, or a net loss of $5.01 per basic and diluted share, including non-cash stock-based compensation expense of $5.3 million, as compared to a net loss of $28.1 million during the same period in 2019, or a net loss of $13.15 per basic and diluted share, including non-cash stock-based compensation expense of $1.2 million.  
    • Cash and Marketable Debt Securities Position: Cash, cash equivalents and marketable debt securities were $94.6 million as of December 31, 2020 as compared to $62.4 million as of December 31, 2019. In February 2021, the Company successfully completed a capital financing of $152 million in aggregate gross proceeds. The Company expects that current cash, cash equivalents and marketable securities will be sufficient to fund its operating expenses at least into second half of 2023.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Forward-Looking Statements



    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to, express or implied statements regarding preclinical and clinical development of Adicet's product candidates, including future plans or expectations for ADI-001 and ADI-002 and potential therapeutic effects of ADI-001 and ADI-002, the timing and outcome of discussions with FDA and other regulatory agencies, expectations regarding the design, implementation, timing, and success of its current and future clinical studies of ADI-001, including whether they are pivotal or would support registration, expectations regarding its other CAR T cell therapy development activities, Adicet's growth as a company and the anticipated contribution of the members of its board of directors to its operations and progress, and its expectations regarding its uses of capital, expenses, future accumulated deficit and other fourth quarter and year end 2020 financial results. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on Adicet's business and financial results, including with respect to disruptions to its clinical trials, business operations, and ability to raise additional capital; Adicet's ability to execute on its strategy; that positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies; future clinical studies may fail to demonstrate adequate safety and efficacy of our product candidates, which would prevent, delay, or limit the scope of regulatory approval and commercialization; regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy, time-consuming, and inherently unpredictable; regulatory developments in the United States and foreign countries; Adicet's estimates regarding expenses, future revenue, and capital requirements; as well as those risks and uncertainties set forth in Adicet's most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.  For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC.  All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio, Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

    Adicet Bio, Inc.

    Consolidated Statements of Operations and Comprehensive Loss

    (unaudited)

    (in thousands, except share and per share amounts)

     Three Months Ended December 31, Year ended December 31,
      2020   2019   2020   2019 




    Revenue—related party
    $5,410  $1,969  $17,903  $995 
    Operating expenses:       
    Research and development 9,683   6,523   34,334   23,691 
    General and administrative 5,076   2,623   22,760   8,692 
    Total operating expenses 14,759   9,146   57,094   32,383 
    Loss from operations (9,349)  (7,177)  (39,191)  (31,388)
    Interest income 81   377   785   938 
    Interest expense (50)     (134)   
    Other income (expense), net 221   240   (953)  2,331 
    Loss before income tax benefit (9,097)  (6,560)  (39,493)  (28,119)
    Income tax expense (benefit) (139)  18   (2,815)  19 
    Net loss$(8,958) $(6,578) $(36,678) $(28,138)
    Net loss per share attributable to common stockholders, basic and diluted$(0.46) $(3.05) $(5.01) $(13.15)
    Weighted-average shares used in computing net

    loss per share attributable to common

    stockholders, basic and diluted
     19,618,469   2,154,790   7,319,977   2,138,973 



         

    Adicet Bio, Inc.

    Balance Sheet Data

    (unaudited)

    (in thousands)

      December 31,
       2020   2019 




    Cash, cash equivalents and marketable debt securities
     $94,614  $72,988 
    Working capital  77,857   49,321 
    Total assets  153,835   81,587 
    Contract liabilities—related party  13,980   21,883 
    Accumulated deficit  (106,325)  (69,647)
    Total stockholders' equity (deficit)  109,827   (60,366)
         



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  1. MENLO PARK, Calif. and BOSTON, Mass., March 10, 2021 /PRNewswire/ -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that it has initiated its First-in-Human Phase I clinical trial evaluating ADI-001 for the treatment of B cell non-Hodgkin's lymphoma (NHL). ADI-001 is an investigational first-in-class allogeneic gamma delta T cell therapy expressing a chimeric antigen receptor (CAR) targeting CD20, engineered to potentially enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.

    "Initiating the Phase 1 trial represents an…

    MENLO PARK, Calif. and BOSTON, Mass., March 10, 2021 /PRNewswire/ -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that it has initiated its First-in-Human Phase I clinical trial evaluating ADI-001 for the treatment of B cell non-Hodgkin's lymphoma (NHL). ADI-001 is an investigational first-in-class allogeneic gamma delta T cell therapy expressing a chimeric antigen receptor (CAR) targeting CD20, engineered to potentially enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.

    "Initiating the Phase 1 trial represents an important milestone in the development of our lead product candidate, ADI-001, for patients with NHL, and for Adicet's emerging pipeline of "off-the-shelf" gamma delta T cell product candidates. Based on ADI-001's encouraging preclinical data, we believe our novel CAR gamma delta T cell therapy has the potential to provide an attractive treatment option for NHL patients," said Francesco Galimi, M.D., Ph.D., Senior Vice President and Chief Medical Officer of Adicet. "We are excited to bring ADI-001 into clinical development and look forward to advancing our product pipeline to address additional solid and hematologic tumors."

    Adicet's Phase I trial is an open-label, multi-center study of ADI-001 enrolling adults diagnosed with B cell malignancies who have either relapsed, or are refractory to at least two prior regimens. The primary objectives of the trial are to evaluate the safety, tolerability, pharmacokinetics and pharmacodynamics of ADI-001, and to determine optimal dosing as a monotherapy. A combination of ADI-001 and interleukin 2 may also be evaluated in this trial. The trial is expected to enroll approximately 75 patients, with preliminary safety and tolerability data expected by the end of 2021, subject to the impact of COVID-19. For more information about the clinical trial design, please visit: www.clinicaltrials.gov (NCT04735471).

    About non-Hodgkin's lymphoma

    NHL is the most common cancer of the lymphatic system, and develops in white blood cells called lymphocytes. Approximately 90% of NHL patients in western countries are diagnosed with B cell lymphomas of various types. Diffuse Large B cell lymphoma, or DLBCL, is the most common type of NHL, accounting for 30% of NHL diagnoses. Most types of NHL are incurable with available therapies, and more than 70,000 new cases of NHL are diagnosed each year in the United States.

    About ADI-001

    ADI-001 is an investigational allogeneic gamma delta T cell therapy being developed as a treatment for B-cell non-Hodgkin's lymphoma (NHL). ADI-001 targets malignant B-cells via an anti-CD20 CAR and via the gamma delta T cell endogenous cytotoxicity receptors. Gamma delta T cells engineered with an anti-CD20 CAR have demonstrated potent antitumor activity in preclinical models, leading to long-term control of tumor growth

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to the initiation of Adicet's Phase 1 trial of ADI-001 for the treatment of B cell non-Hodgkin's lymphoma, including future plans or expectations as well as the expected potential therapeutic effects, the timing and outcome of discussions with FDA and other regulatory agencies, expectations regarding the design, implementation, timing, and success of future clinical studies of ADI-001, including whether they are pivotal or would support registration, and expectations regarding its other CAR gamma delta T cell therapy development activities.

    Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on our business and financial results, including with respect to disruptions to our clinical trials, business operations, and ability to raise additional capital; Adicet's ability to execute on its strategy; that positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies; future clinical studies may fail to demonstrate adequate safety and efficacy of our product candidates, which would prevent, delay, or limit the scope of regulatory approval and commercialization; regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy, time–consuming, and inherently unpredictable; regulatory developments in the United States and foreign countries; and the company's estimates regarding expenses, future revenue, and capital requirements.   For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

    Cision View original content:http://www.prnewswire.com/news-releases/adicet-bio-announces-initiation-of-its-first-in-human-phase-1-trial-of-adi-001-for-the-treatment-of-b-cell-non-hodgkins-lymphoma-301244090.html

    SOURCE Adicet Bio, Inc.

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  2. MENLO PARK, Calif. and BOSTON, March 04, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the appointment of Andrew Sinclair, Ph.D., to its board of directors. Dr. Sinclair will replace Erez Chimovits, who will step down from the Board of Directors.

    "Abingworth was a significant investor in our recent successful $152 million financing and we are extremely pleased to welcome Andrew, a highly-respected healthcare investor, to our Board of Directors," said Chen Schor, President and Chief Executive Officer of Adicet Bio, Inc. "Andrew's significant life science experience amassed throughout his career…

    MENLO PARK, Calif. and BOSTON, March 04, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the appointment of Andrew Sinclair, Ph.D., to its board of directors. Dr. Sinclair will replace Erez Chimovits, who will step down from the Board of Directors.

    "Abingworth was a significant investor in our recent successful $152 million financing and we are extremely pleased to welcome Andrew, a highly-respected healthcare investor, to our Board of Directors," said Chen Schor, President and Chief Executive Officer of Adicet Bio, Inc. "Andrew's significant life science experience amassed throughout his career, both from the financial and scientific perspective, will be tremendously valuable to Adicet as we continue to advance ADI-001 into the clinic and expand our pipeline of ‘off-the-shelf' gamma delta T cell product candidates. In addition, we would like to thank Erez for his five years of service and significant contributions to Adicet which have played an important role in advancing our strategic priorities."

    "I am excited to join Adicet Bio's Board of Directors," said Andrew Sinclair.   "Adicet's allogeneic gamma delta T cell approach has a number of potential advantages over other cell therapy platforms and I look forward to working with my fellow board members and company management to advance Adicet's corporate goals in the years ahead."

    Dr. Sinclair is currently a partner and portfolio manager at Abingworth LLP, a life sciences investment group. He has been at Abingworth since 2008 where he has served in various positions focusing on investments in public and private biotech and pharmaceutical companies. Dr. Sinclair currently serves on the boards of directors of Soleno Therapeutics, Inc., Sierra Oncology and Verona Pharma plc. Prior to joining Abingworth, he was senior equity analyst, director, at HSBC Global Markets, where he was responsible for investment research in the mid-cap pharmaceutical sector. Previously, Andrew held biotechnology analyst positions at Credit Suisse and SG Cowen. Dr. Sinclair received his B.Sc. in Microbiology from King's College London and his Ph.D. in Chemistry and Genetic Engineering at the BBSRC Institute of Plant Science, Norwich. Andrew qualified as a chartered accountant with KPMG.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    About Abingworth

    Abingworth is a leading transatlantic life sciences investment firm. Abingworth helps transform cutting-edge science into novel medicines by providing capital and expertise to top calibre management teams building world-class companies. Since 1973, Abingworth has invested in 172 life science companies, leading to 44 M&As and 69 IPOs. Our therapeutic focused investments fall into three categories: seed and early-stage, development stage, and clinical co-development. Abingworth supports its portfolio companies with a team of experienced professionals at offices in London, Menlo Park (California), and Boston.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to preclinical and clinical development of Adicet's product candidates, including future plans or expectations for ADI-001 and potential therapeutic effects of ADI-001, the timing and outcome of discussions with FDA and other regulatory agencies, expectations regarding the design, implementation, timing, and success of its future clinical studies of ADI-001, and our growth as a company and the anticipated contribution of the members of our board of directors to our operations and progress. The words "may," "will," "could," "would," "should," "expect," "plan," "anticipate," "intend," "believe," "estimate," "predict," "project," "potential," "continue," "target" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words.

    Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, Adicet's ability to execute on its strategy; that positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies; the expected impact and contribution of our board of directors and executives to our business as well as those risks and uncertainties set forth in the company's most recent quarterly report on Form 10-Q and subsequent filings with the Securities and Exchange Commission. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio, Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200



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  3. MENLO PARK, Calif. and BOSTON, Mass., Feb. 16, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the closing of an underwritten public offering of 10,575,513 shares of its common stock, including the exercise in full by the underwriters of their option to purchase up to an additional 1,344,743 shares of common stock at a public offering price of $13.00 per share. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses were approximately $137.5 million. All of the shares in the offering are to be sold by Adicet.

    In connection…

    MENLO PARK, Calif. and BOSTON, Mass., Feb. 16, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the closing of an underwritten public offering of 10,575,513 shares of its common stock, including the exercise in full by the underwriters of their option to purchase up to an additional 1,344,743 shares of common stock at a public offering price of $13.00 per share. The aggregate gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses were approximately $137.5 million. All of the shares in the offering are to be sold by Adicet.

    In connection with the offering, Adicet entered into a stock purchase agreement with certain existing investors for $15.0 million of shares of its common stock at a price per share equal to the public offering price, with an initial closing for certain investors held simultaneously with the closing of the offering and a subsequent closing for certain additional investors.

    Guggenheim Securities, LLC acted as book-running manager for the offering. Canaccord Genuity LLC, Wedbush Securities Inc. and JMP Securities LLC acted as co-managers for the offering.

    The shares are being offered by Adicet pursuant to a shelf registration statement that was previously filed with, and subsequently declared effective on February 12, 2019 by, the U.S. Securities and Exchange Commission (SEC). A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC on February 11, 2021. Copies of the final prospectus supplement and the accompanying prospectus relating to the offered securities may be obtained from Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Adicet

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.

    Adicet Bio, Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

    Source: Adicet Bio, Inc.



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  4. MENLO PARK, Calif., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that the company management will participate in three upcoming virtual investor conferences.

    Details of the events are as follows:

    Guggenheim Healthcare Talks 2021 Oncology Day, February 11-12, 2021
    Adicet's management team will participate in virtual investor meetings at the conference on Friday, February 12, 2021.

    SVB Leerink Global Healthcare Conference, February 22-26, 2021
    Chen Schor, President and Chief Executive Officer, will deliver a presentation on Wednesday, February 24, 2021 at 5:00 PM ET.

    H.C. Wainwright…

    MENLO PARK, Calif., Feb. 11, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that the company management will participate in three upcoming virtual investor conferences.

    Details of the events are as follows:

    Guggenheim Healthcare Talks 2021 Oncology Day, February 11-12, 2021

    Adicet's management team will participate in virtual investor meetings at the conference on Friday, February 12, 2021.

    SVB Leerink Global Healthcare Conference, February 22-26, 2021

    Chen Schor, President and Chief Executive Officer, will deliver a presentation on Wednesday, February 24, 2021 at 5:00 PM ET.

    H.C. Wainwright Global Life Sciences Conference - March 9-10, 2021

    Registered attendees can access the recorded presentation on-demand starting March 9, 2021 at 6:00 AM ET for the duration of the conference.

    A live audio webcast of the SVB Leerink presentation can be accessed on the Investors section of Adicet Bio's website at https://investor.adicetbio.com. An archived replay will be available for 30 days following the presentation.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

     

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

     



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  5. MENLO PARK, Calif. and BOSTON, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the pricing of an underwritten public offering of 9,230,770 shares of its common stock at a public offering price of $13.00 per share. Adicet also granted the underwriters a 30-day option to purchase up to an additional 1,344,743 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $120.0 million, excluding…

    MENLO PARK, Calif. and BOSTON, Feb. 10, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the pricing of an underwritten public offering of 9,230,770 shares of its common stock at a public offering price of $13.00 per share. Adicet also granted the underwriters a 30-day option to purchase up to an additional 1,344,743 shares of common stock at the public offering price, less underwriting discounts and commissions. The gross proceeds from the offering, before deducting underwriting discounts and commissions and offering expenses, are expected to be approximately $120.0 million, excluding any exercise of the underwriters' option to purchase additional shares. All of the shares in the offering are to be sold by Adicet. The offering is expected to close on or about February 12, 2021, subject to customary closing conditions.

    In connection with the offering, Adicet intends to enter into a stock purchase agreement with certain existing investors for $15.0 million of shares of its common stock at a price per share equal to the public offering price, with an initial closing for certain investors to be held simultaneous with the closing of the offering and a subsequent closing for certain additional investors.

    The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The consummation of the private placement will be contingent upon the closing of the offering.

    Guggenheim Securities is acting as book-running manager for the offering. Canaccord Genuity LLC, Wedbush Securities Inc. and JMP Securities LLC are acting as co-managers for the offering.

    The shares are being offered by Adicet pursuant to a shelf registration statement that was previously filed with, and subsequently declared effective on February 12, 2019 by, the U.S. Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering was filed with the SEC on February 9, 2021. The final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offered securities may be obtained, when available, from Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Adicet

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995, as amended, including without limitation, statements related to the anticipated public offering of shares. These forward-looking statements include, but are not limited to, those relating to Adicet's expectations regarding the anticipated closing of the public offering and completion and timing of the private placement. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties related to completion of the public offering on the anticipated terms, or at all, include, but are not limited to, market conditions and the satisfaction of customary closing conditions related to the public offering. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K filed on March 12, 2020 and our periodic reports on Form 10-Q and Form 8-K, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement related to the public offering filed with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio, Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

    Source: Adicet Bio, Inc.



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  6. MENLO PARK, Calif. and BOSTON, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that it has commenced an underwritten public offering of its common stock. Adicet also intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the number of shares sold at the public offering price, less underwriting discounts and commissions. All of the shares in the proposed offering are to be sold by Adicet.

    In connection with the proposed offering, Adicet intends to enter into a stock purchase agreement with certain existing investors for $15.0 million of…

    MENLO PARK, Calif. and BOSTON, Feb. 09, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that it has commenced an underwritten public offering of its common stock. Adicet also intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the number of shares sold at the public offering price, less underwriting discounts and commissions. All of the shares in the proposed offering are to be sold by Adicet.

    In connection with the proposed offering, Adicet intends to enter into a stock purchase agreement with certain existing investors for $15.0 million of shares of its common stock at a price per share equal to the public offering price, with an initial closing for certain investors to be held simultaneous with the closing of the proposed offering and a subsequent closing for certain additional investors.

    The proposed offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. The consummation of the private placement will be contingent upon the closing of the proposed offering.

    Guggenheim Securities is acting as book-running manager for the proposed offering.

    The shares are being offered by Adicet pursuant to a shelf registration statement that was previously filed with, and subsequently declared effective on February 12, 2019 by, the U.S. Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. When available, copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offered securities may be obtained, when available, from Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, by telephone at (212) 518-9544, or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Adicet

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements related to the anticipated public offering of shares. These forward-looking statements include, but are not limited to, those relating to Adicet expectations regarding the completion, timing and size of the public offering, its expectations with respect to granting the underwriters a 30-day option to purchase additional shares, and the completion and timing of the private placement. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties related to completion of the proposed public offering on the anticipated terms, or at all, include, but are not limited to, market conditions and the satisfaction of customary closing conditions related to the proposed public offering. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K filed on March 12, 2020 and our period reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement related to the proposed public offering to be filed with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio, Inc.

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    Anne Bowdidge

    Source: Adicet Bio, Inc.



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  7. MENLO PARK, Calif. and BOSTON, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that company management will participate in two virtual investor conferences in January.

    Details of the events are as follows:

    H.C. Wainwright Bioconnect 2021 Conference
    The presentation will be available for on-demand viewing starting January 11, 2021 at 6:00 AM ET.

    B. Riley Securities' Oncology Investor Conference
    Fireside chat on January 20, 2021 at 3:30 PM ET.

    A replay of the pre-recorded H.C. Wainwright presentation can be accessed on January 11, 2021 in the investors section of the Company's…

    MENLO PARK, Calif. and BOSTON, Jan. 07, 2021 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that company management will participate in two virtual investor conferences in January.

    Details of the events are as follows:

    H.C. Wainwright Bioconnect 2021 Conference

    The presentation will be available for on-demand viewing starting January 11, 2021 at 6:00 AM ET.

    B. Riley Securities' Oncology Investor Conference

    Fireside chat on January 20, 2021 at 3:30 PM ET.

    A replay of the pre-recorded H.C. Wainwright presentation can be accessed on January 11, 2021 in the investors section of the Company's website, and a live webcast of the B. Riley presentation can be accessed in the same section of the Company's website. 

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

     



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  8. MENLO PARK, Calif., Dec. 08, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that Chen Schor, President and Chief Executive Officer and Stewart Abbot, Ph.D., Chief Scientific and Operating Officer, will participate in a fireside chat at The JMP Securities Hematology Summit on Tuesday, December 15, 2020 at 2:00 PM ET.

    A live audio webcast of the fireside chat can be accessed on the Investors section of Adicet Bio's website at https://investor.adicetbio.com. An archived replay will be available for 30 days following the presentation.

    About Adicet Bio, Inc.
    Adicet Bio, Inc. is a biotechnology…

    MENLO PARK, Calif., Dec. 08, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that Chen Schor, President and Chief Executive Officer and Stewart Abbot, Ph.D., Chief Scientific and Operating Officer, will participate in a fireside chat at The JMP Securities Hematology Summit on Tuesday, December 15, 2020 at 2:00 PM ET.

    A live audio webcast of the fireside chat can be accessed on the Investors section of Adicet Bio's website at https://investor.adicetbio.com. An archived replay will be available for 30 days following the presentation.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200



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  9. MENLO PARK, Calif. and BOSTON, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the appointment of Bastiano Sanna, Ph.D., to its Board of Directors. Dr. Sanna brings significant expertise in advancing research, development and manufacturing of cell therapies. He currently serves as Executive Vice President and Chief of Cell and Genetic Therapies at Vertex Pharmaceuticals Incorporated.

    "Dr. Sanna brings a wealth of industry experience, most notably in the development of cell therapy, where he has established an impressive track record with the successful development of novel…

    MENLO PARK, Calif. and BOSTON, Dec. 01, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the appointment of Bastiano Sanna, Ph.D., to its Board of Directors. Dr. Sanna brings significant expertise in advancing research, development and manufacturing of cell therapies. He currently serves as Executive Vice President and Chief of Cell and Genetic Therapies at Vertex Pharmaceuticals Incorporated.

    "Dr. Sanna brings a wealth of industry experience, most notably in the development of cell therapy, where he has established an impressive track record with the successful development of novel cell therapy treatments at Novartis, Semma Therapeutics, Magenta and Vertex," said Chen Schor, President and Chief Executive Officer of Adicet. "We are delighted to welcome him to Adicet's board, and look forward to his contributions as we continue to advance ADI-001 into the clinic and expand our pipeline of ‘off-the-shelf' gamma delta T cell product candidates."

    "Adicet's gamma delta T cell platform and pipeline provide a differentiated opportunity to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in cancer patients," said Dr. Sanna. "I'm excited to be joining the Board, and look forward to helping Adicet advance its mission of delivering potentially efficacious next generation cell therapy treatments to patients with solid and hematologic tumors."

    At Vertex, Dr. Sanna is responsible for advancing the research, development and manufacturing of all of Vertex's cell and genetic therapy programs. Previously, Dr. Sanna was Chief Executive Officer of Semma Therapeutics (acquired by Vertex in 2019). Under his leadership, the Company pioneered the development of cell therapy treatments for type 1 diabetes. Prior to that, he served as Chief Operating Officer at Magenta Therapeutics and as the Global Program Head of Stem Cell Transplant and early programs at Novartis, where he oversaw clinical, regulatory, CMC and commercial aspects of programs in bone marrow transplant and CAR-T cell therapies. Dr. Sanna holds a Ph.D. in Biotechnology from the University of Sassari.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.  For more information, please visit our website at http://www.adicetbio.com.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to, preclinical and clinical development of Adicet's product candidates, including future plans or expectations for ADI-001 and potential therapeutic effects of ADI-001. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on Adicet's business and financial results, including with respect to disruptions to our clinical trials, business operations, employee hiring and retention, and ability to raise additional capital; Adicet's ability to execute on its strategy; Adicet's ability to meet production and product release expectations; as well as those risks and uncertainties set forth in the company's most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.   For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

     

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200



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  10. MENLO PARK, Calif. and BOSTON, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that company management will participate in upcoming virtual investor conferences and events in November and December.

    Details of the events are as follows:

    H.C. Wainwright 6th Annual Israel Conference
    Presentation on November 12, 2020 at 9:00 AM ET

    B. Riley Securities' Cell Therapy 2.0: Transforming Immune Cells to Mainstream Cancer Treatments at Society for Immunotherapy of Cancer Annual Meeting
    Panel discussion on November 12, 2020 at 2:00 PM ET

    Stifel 2020 Virtual Healthcare Conference
    Presentation…

    MENLO PARK, Calif. and BOSTON, Nov. 06, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that company management will participate in upcoming virtual investor conferences and events in November and December.

    Details of the events are as follows:

    H.C. Wainwright 6th Annual Israel Conference

    Presentation on November 12, 2020 at 9:00 AM ET

    B. Riley Securities' Cell Therapy 2.0: Transforming Immune Cells to Mainstream Cancer Treatments at Society for Immunotherapy of Cancer Annual Meeting

    Panel discussion on November 12, 2020 at 2:00 PM ET

    Stifel 2020 Virtual Healthcare Conference

    Presentation on November 17, 2020 at 3:20 PM ET

    3rd Annual Evercore ISI HealthCONx Conference

    Panel discussion on December 1, 2020 at 1:00 PM ET

    Adicet management team will also participate in virtual investor meetings at these conferences.

    Live audio webcasts of the presentations can be accessed on the Investors section of Adicet Bio's website at https://investor.adicetbio.com. Archived replays will be available for 30 days following each event.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.  For more information, please visit our website at http://www.adicetbio.com.

    Adicet Bio., Inc.

    Investor and Media Contacts

    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

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  11. MENLO PARK, Calif. and BOSTON, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today reported financial results for the third quarter ended September 30, 2020.

    "We are extremely proud of the milestones we've achieved this quarter, including the completion of the merger between Adicet Bio and resTORbio, the clearance of our IND application for ADI-001, and the expansion of our executive team with the appointment of Nick Harvey as CFO and, more recently, Don Healey, Ph.D., as CTO," said Chen Schor, President and Chief Executive Officer of Adicet. "Looking ahead, we expect to initiate the…

    MENLO PARK, Calif. and BOSTON, Nov. 05, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today reported financial results for the third quarter ended September 30, 2020.

    "We are extremely proud of the milestones we've achieved this quarter, including the completion of the merger between Adicet Bio and resTORbio, the clearance of our IND application for ADI-001, and the expansion of our executive team with the appointment of Nick Harvey as CFO and, more recently, Don Healey, Ph.D., as CTO," said Chen Schor, President and Chief Executive Officer of Adicet. "Looking ahead, we expect to initiate the Phase 1 clinical trial for ADI-001 in the first quarter of 2021 for the treatment of non-Hodgkin's lymphoma and continue to leverage our γδ T therapy approach to provide a pipeline of highly differentiated product candidates with selective tumor targeting, innate and adaptive anti-tumor immune response, and improved persistence for durable activity." 

    Third Quarter & Recent Business Updates

    • IND application cleared by FDA for lead asset, ADI-001, a first-in-class allogeneic CAR gamma-delta T cell therapy. In October 2020, Adicet reported that the U.S. Food and Drug Administration (FDA) accepted the Company's Investigational New Drug (IND) application for lead asset, ADI-001, an allogeneic gamma delta (γδ) T cell therapy expressing a chimeric antigen receptor (CAR) targeting CD20 for treatment of non-Hodgkin's lymphoma (NHL). The Company expects to initiate the Phase 1 clinical trial in the first quarter of 2021 to evaluate safety and efficacy of ADI-001 in NHL patients. Site initiation activities are underway and interim clinical data from this study are expected in 2021.

       
    • Built out the management team with the appointment of Nick Harvey as Chief Financial Officer and Don Healey, Ph.D., as Chief Technology Officer. In September 2020, Adicet announced the appointment of Nick Harvey as Chief Financial Officer. Mr. Harvey is responsible for leading the company's financial strategy and management of activities related to accounting, capital markets and business operations. In October 2020, Dr. Healey joined the management team as Chief Technology Officer, responsible for the development of Adicet's genetically-modified T cell therapies for clinical development and commercialization, including manufacturing, viral vector operations and analytics.
    • Successfully completed merger with resTORbio. In September 2020, Adicet Bio completed its merger with resTORbio, Inc. and commenced trading on the Nasdaq Global Market under the ticker symbol "ACET" on September 16, 2020.

       
    • Received $10 million product development milestone payment from Regeneron. In August 2020, Adicet announced that it received a $10 million milestone payment from Regeneron related to ADI-002 meeting key preclinical development goals, in accordance with the terms of its strategic collaboration with Regeneron. ADI-002 is Adicet's allogeneic off-the-shelf γδ T cell product candidate targeting GPC3 for solid tumors associated with high GPC3 expression such as hepatocellular carcinoma, the most prevalent form of liver cancer.

    Financial Results for Third Quarter of 2020:

    • Research and Development (R&D) Expenses: R&D expenses increased by $2.6 million to $8.9 million for the quarter ended September 30, 2020, compared to $6.3 million during the same period in 2019. This increase is primarily driven by  an increase of $1.9 million in payroll and personnel expenses due to increases in headcount of employees involved in research and development activities, an increase of $0.9 million in fees incurred for CROs and CMOs costs due to initiating and ramping up manufacturing and preclinical development activities related to our first product candidate, offset by decrease in costs for other consultants by $0.3 million. Payroll and personnel expenses for the quarter ended September 30, 2020 includes $1.0 million of non-cash stock-based compensation expense compared to $0.1 million during the same period in 2019 due to an one-time charge of $0.9 million resulting from the modification of stock awards in connection with the merger.



    • General and Administrative (G&A) Expenses: G&A expenses increased by $5.9 million to $7.7 million for the quarter ended September 30, 2020, compared to $1.8 million during the same period in 2019. This increase is primarily driven by an increase of $3.2 million of payroll and personnel expenses, an increase of $2.4 million of professional fees for legal, consulting, accounting, tax and other services, and an increase of $0.3 million in facility and other expenses. Payroll and personnel expenses for the quarter ended September 30, 2020 includes $2.0 million of non-cash stock-based compensation expense compared to $0.3 million during the same period in 2019 due to an one-time charge of $1.7 million resulting from the modification of stock awards in connection with the merger. The increase in professional fees was primarily due to transaction costs incurred in connection with the merger with resTORbio of $2.0 million during the quarter ended September 30, 2020.



    • Net Loss: Net loss attributable to common shareholders for the quarter ended September 30, 2020 was $14.8 million, or a net loss of $2.84 per basic and diluted share, including non-cash stock-based compensation expense of $3.0 million, as compared to $14.8 million during the same period in 2019, or a net loss of $6.87 per basic and diluted share, including non-cash stock-based compensation expense of $0.4 million.



    • Cash Position: Cash and cash equivalents and marketable debt securities were $108.1 million as of September 30, 2020, compared to $73.0 million as of December 31, 2019.

    About Adicet

    Adicet is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Forward-Looking Statements



    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to, preclinical and clinical development of Adicet's product candidates, including future plans or expectations for ADI-001 and ADI-002 and potential therapeutic effects of ADI-001 and ADI-002, the timing and outcome of discussions with FDA and other regulatory agencies, expectations regarding the design, implementation, timing, and success of its future clinical studies of ADI-001, including whether they are pivotal or would support registration, expectations regarding its other CAR γδ T cell therapy development activities, the impact of individual executive officers on Adicet's success, and its expectations regarding its uses of capital, expenses, future accumulated deficit and other third quarter 2020 financial results. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on Adicet's business and financial results, including with respect to disruptions to its clinical trials, business operations, and ability to raise additional capital; Adicet's ability to execute on its strategy; that positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies; future clinical studies may fail to demonstrate adequate safety and efficacy of our product candidates, which would prevent, delay, or limit the scope of regulatory approval and commercialization; regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy, time‑consuming, and inherently unpredictable; regulatory developments in the United States and foreign countries; Adicet's estimates regarding expenses, future revenue, and capital requirements; as well as those risks and uncertainties set forth in Adicet's most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.  For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC.  All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.



    ADICET BIO, INC.

    Condensed Consolidated Statements of Operations and Comprehensive Loss

    (in thousands, except share and per share amounts)

    (unaudited)

      Three Months Ended

    September 30,
      Nine Months Ended

    September 30,
     
      2020  2019  2020  2019 
    Revenue—related party $3,028  $(7,047) $12,493  $(974)
    Operating expenses:                
    Research and development  8,942  $6,331  $24,651  $17,168 
    General and administrative  7,741   1,847   17,684   6,069 
    Total operating expenses  16,683   8,178   42,335   23,237 
    Loss from operations  (13,655)  (15,225)  (29,842)  (24,211)
    Interest income  153   276   704   561 
    Interest expense  (50)     (84)   
    Other income (expense), net  (1,224)  171   (1,174)  2,091 
    Loss before income taxes  (14,776)  (14,778)  (30,396)  (21,559)
    Income tax expense (benefit)  3      (2,676)  1 
    Net loss $(14,779) $(14,778) $(27,720) $(21,560)
    Net loss per share —basic and diluted $(2.84) $(6.87) $(8.69) $(10.10)
    Weighted-average number of common shares used in net loss per share —basic and diluted  5,208,887   2,149,986   3,190,557   2,133,645 



    ADICET BIO, INC.

    Balance Sheet Data

    (in thousands)

    (unaudited)

      September 30,  December 31, 
      2020  2019 
    Cash, cash equivalents and marketable debt securities $108,120  $72,988 
    Working capital  87,334   49,321 
    Total assets  150,397   81,587 
    Contract liabilities—related party  19,390   21,883 
    Accumulated deficit  (97,367)  (69,647)
    Total stockholders' equity (deficit)  116,930   (60,366)

    Adicet Bio, Inc.

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  12. MENLO PARK, Calif. and BOSTON, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the appointment of Don Healey, Ph.D., as Chief Technology Officer. Dr. Healey will lead the development of Adicet's genetically-modified T cell therapies for clinical development and commercialization, including manufacturing, viral vector operations and analytics.

    "We are excited to welcome Don as a new member of Adicet's Executive Leadership Team," said Chen Schor, President and Chief Executive Officer of Adicet. "Don's expertise in guiding the production and release of cell therapy products…

    MENLO PARK, Calif. and BOSTON, Oct. 26, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing first-in-class allogeneic gamma delta T cell therapies for cancer and other diseases, today announced the appointment of Don Healey, Ph.D., as Chief Technology Officer. Dr. Healey will lead the development of Adicet's genetically-modified T cell therapies for clinical development and commercialization, including manufacturing, viral vector operations and analytics.

    "We are excited to welcome Don as a new member of Adicet's Executive Leadership Team," said Chen Schor, President and Chief Executive Officer of Adicet. "Don's expertise in guiding the production and release of cell therapy products, as well as his deep knowledge of the scientific, technical, and strategic approaches to genetically modifying, characterizing and scaling the production of such cell products is a valuable addition to the growth of Adicet as we continue to advance our pipeline of 'off-the-shelf' gamma delta T cell product candidates."

    "I am honored to join the Adicet team, and look forward to helping guide the development of ADI-001 through the next stages of development and registration," said Dr. Healey. "I am very excited by the potential of Adicet's gamma delta T cell platform and its novel targeting approaches. Adicet's platforms and product candidates are highly differentiated and may provide oncology patients with selective tumor targeting, innate and adaptive anti-tumor immune response, and improved persistence for durable activity."

    Dr. Healey has nearly two decades of experience in cell therapy development and manufacturing. Dr. Healey joins Adicet most recently from KBI Biopharma Inc., a biopharmaceutical contract services organization, where he was responsible for establishing process development, manufacturing, quality control and facilities management for biopharmaceutical clients developing cellular therapies. Previously, he served as Chief Scientific Officer at Opexa Therapeutics, Inc., where he was responsible for all pre-clinical scientific development, closed-system process design and the scaling of Opexa's autologous T-cell immunotherapy. Dr. Healey has also served as Director of Immunology at Argos Therapeutics Inc. and Group leader for Immunology at ML Laboratories, UK, (formerly Cobra Biotherapeutics). Dr. Healey received his Ph.D. from University of London, and holds a B.Sc. in Cellular Pathology from Bristol University.

    About Adicet

    Adicet is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.  For more information, please visit our website at http://www.adicetbio.com.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to, preclinical and clinical development of Adicet's product candidates, including future plans or expectations for ADI-001 and potential therapeutic effects of ADI-001. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on Adicet's business and financial results, including with respect to disruptions to our clinical trials, business operations, employee hiring and retention, and ability to raise additional capital; Adicet's ability to execute on its strategy; Adicet's ability to meet production and product release expectations; as well as those risks and uncertainties set forth in the company's most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.   For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

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  13. MENLO PARK, Calif. and BOSTON, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that the U.S. Food and Drug Administration (FDA) has cleared the Company's Investigational New Drug (IND) application for ADI-001, an allogeneic gamma delta (γδ) T cell therapy expressing a chimeric antigen receptor (CAR) targeting CD20 for treatment of non-Hodgkin's lymphoma (NHL). The active IND enables the Company to initiate the first-in-human clinical trial to assess safety and efficacy of ADI-001 in NHL patients.

    "The clearance of the IND for ADI-001 by the FDA is a significant milestone in the development…

    MENLO PARK, Calif. and BOSTON, Oct. 22, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that the U.S. Food and Drug Administration (FDA) has cleared the Company's Investigational New Drug (IND) application for ADI-001, an allogeneic gamma delta (γδ) T cell therapy expressing a chimeric antigen receptor (CAR) targeting CD20 for treatment of non-Hodgkin's lymphoma (NHL). The active IND enables the Company to initiate the first-in-human clinical trial to assess safety and efficacy of ADI-001 in NHL patients.

    "The clearance of the IND for ADI-001 by the FDA is a significant milestone in the development of CAR γδ T cell therapies by Adicet, and marks the beginning of clinical development of a deep pipeline of "off-the-shelf" γδ T cell products," said Chen Schor, President and Chief Executive Officer of Adicet. "We are particularly excited to advance on our goal to exploit the therapeutic potential of our first in class engineered CAR γδ T cell therapy in NHL patients. We believe that ADI-001 offers the opportunity for on demand treatment, selective tumor targeting, innate and adaptive anti-tumor immune response, and durable activity in patients. We look forward to advancing our product pipeline to address additional solid and hematologic tumors."

    The Phase 1 study for ADI-001 will enroll up to 80 late-stage non-Hodgkin's lymphoma patients at a number of cancer centers across the U.S. The study includes a dose finding portion followed by dose expansion cohorts to explore the activity of ADI-001 in multiple subtypes of NHL. Site initiation activities are underway and interim clinical data from this study are expected in 2021.

    About ADI-001         

    ADI-001 is an investigational allogeneic gamma delta T cell therapy being developed as a treatment for B-cell non-Hodgkin's lymphoma (NHL). ADI-001 targets malignant B-cells via an anti-CD20 CAR and via the gamma delta T cell endogenous cytotoxicity receptors. Gamma delta T cells engineered with an anti-CD20 CAR have demonstrated highly potent antitumor activity in preclinical models, leading to effective long-term control of tumor growth.

    About Adicet

    Adicet is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995 relating to business and operations of Adicet including, but not limited to preclinical and clinical development of Adicet's product candidates, including future plans or expectations for ADI-001 and potential therapeutic effects of ADI-001, the timing and outcome of discussions with FDA and other regulatory agencies, expectations regarding the design, implementation, timing, and success of its future clinical studies of ADI-001, including whether they are pivotal or would support registration, and expectations regarding its other CAR γδ T cell therapy development activities. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements, including without limitation, the effect of COVID-19 on our business and financial results, including with respect to disruptions to our clinical trials, business operations, and ability to raise additional capital; Adicet's ability to execute on its strategy; that positive results from a clinical study may not necessarily be predictive of the results of future or ongoing clinical studies; future clinical studies may fail to demonstrate adequate safety and efficacy of our product candidates, which would prevent, delay, or limit the scope of regulatory approval and commercialization; regulatory approval processes of the FDA and comparable foreign regulatory authorities are lengthy, time‑consuming, and inherently unpredictable; regulatory developments in the United States and foreign countries; the company's estimates regarding expenses, future revenue, and capital requirements; as well as those risks and uncertainties set forth in the company's most recent annual report on Form 10-K and subsequent filings with the Securities and Exchange Commission.   For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K and our periodic reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio, Inc.

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  14. MENLO PARK, Calif. and BOSTON, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that Chen Schor, President and Chief Executive Officer of Adicet Bio, and Stewart Abbot, Ph.D., Chief Scientific and Operating Officer of Adicet Bio, will participate in a fireside chat at the Jefferies Cell Therapy Summit on Monday, October 5, 2020 at 2:30 PM ET.

    A live audio webcast of the fireside chat can be accessed on the Investors section of Adicet Bio's website at https://investor.adicetbio.com. An archived replay will be available for 30 days following the presentation.

    About Adicet Bio, Inc.
    Adicet…

    MENLO PARK, Calif. and BOSTON, Oct. 01, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that Chen Schor, President and Chief Executive Officer of Adicet Bio, and Stewart Abbot, Ph.D., Chief Scientific and Operating Officer of Adicet Bio, will participate in a fireside chat at the Jefferies Cell Therapy Summit on Monday, October 5, 2020 at 2:30 PM ET.

    A live audio webcast of the fireside chat can be accessed on the Investors section of Adicet Bio's website at https://investor.adicetbio.com. An archived replay will be available for 30 days following the presentation.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Adicet Bio, Inc.

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    Stern Investor Relations, Inc.

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  15. MENLO PARK, Calif. and BOSTON, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, announced today that it has determined not to proceed with its proposed public offering of 4,500,000 shares of its common stock previously announced on September 21, 2020. The Company believes that current market conditions are not conducive to an offering on terms that would be in the best interests of its current stockholders. 

    "We are well capitalized into 2022 and expect to meet multiple near-term milestones," said Chen Schor, President and Chief Executive Officer of Adicet Bio, Inc. "Given our solid financial position…

    MENLO PARK, Calif. and BOSTON, Sept. 22, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, announced today that it has determined not to proceed with its proposed public offering of 4,500,000 shares of its common stock previously announced on September 21, 2020. The Company believes that current market conditions are not conducive to an offering on terms that would be in the best interests of its current stockholders. 

    "We are well capitalized into 2022 and expect to meet multiple near-term milestones," said Chen Schor, President and Chief Executive Officer of Adicet Bio, Inc. "Given our solid financial position and outlook, we look forward to advancing our gamma delta T cell platform and programs."

    Adicet anticipates the following near-term milestones:

    • File IND for ADI-001 CD20 gamma delta CAR-T
    • Phase 1 clinical study of ADI-001 in non-Hodgkin's lymphoma
    • ADI-001 expansion in diffuse large B-cell lymphoma and/or mantle cell lymphoma
    • File IND for ADI-002 GPC3 gamma-delta CAR-T
    • Initiate Phase 1 clinical study in hepatocellular carcinoma and other solid tumors

    The offering was being made pursuant to an effective shelf registration statement that was declared effective by the U.S. Securities and Exchange Commission (SEC) on February 12, 2019. This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Adicet

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties related to market conditions as well as risks and uncertainties inherent in Adicet's business. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K filed on March 12, 2020 and our period reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement related to the proposed public offering. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio, Inc.

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  16. MENLO PARK, Calif. and BOSTON, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that it has commenced an underwritten public offering of 4,500,000 shares of its common stock. Adicet also intends to grant the underwriters a 30-day option to purchase up to an additional 675,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the proposed offering are to be sold by Adicet. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed…

    MENLO PARK, Calif. and BOSTON, Sept. 21, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that it has commenced an underwritten public offering of 4,500,000 shares of its common stock. Adicet also intends to grant the underwriters a 30-day option to purchase up to an additional 675,000 shares of common stock at the public offering price, less underwriting discounts and commissions. All of the shares in the proposed offering are to be sold by Adicet. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

    BofA Securities, Jefferies and SVB Leerink are acting as joint book-running managers for the proposed offering. Wedbush PacGrow is acting as lead manager for the proposed offering.

    The shares are being offered by Adicet pursuant to a shelf registration statement that was previously filed with, and subsequently declared effective on February 12, 2019 by, the U.S. Securities and Exchange Commission (SEC). A preliminary prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying prospectus relating to these securities may be obtained, when available, from:

    • BofA Securities, NC1-004-03-43; 200 North College Street, 3rd Floor, Charlotte, North Carolina 28255-0001, Attention: Prospectus Department or by email at ;

    • Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at (877) 547-4340 or by email at ; or

    • SVB Leerink LLC, Attention: Syndicate Department, One Federal Street, 37th Floor, Boston, MA 02110, by telephone at (800) 808-7525 ext. 6132 or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Adicet

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients.

    Forward-Looking Statements

    This press release contains "forward-looking statements" of Adicet within the meaning of the Private Securities Litigation Reform Act of 1995, including without limitation, statements related to the anticipated public offering of shares. These forward-looking statements include, but are not limited to, those relating to Adicet expectations regarding the completion, timing and size of the public offering, and its expectations with respect to granting the underwriters a 30-day option to purchase additional shares. Any forward-looking statements in this press release are based on management's current expectations and beliefs of future events, and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. These risks and uncertainties related to completion of the proposed public offering on the anticipated terms, or at all, include, but are not limited to, market conditions and the satisfaction of customary closing conditions related to the proposed public offering. For a discussion of these and other risks and uncertainties, and other important factors, any of which could cause Adicet's actual results to differ from those contained in the forward-looking statements, see the section entitled "Risk Factors" in Adicet's most recent annual report on Form 10-K filed on March 12, 2020 and our period reports on Form 10-Q and Form 8-K filed with the SEC, as well as discussions of potential risks, uncertainties, and other important factors in Adicet's other filings with the SEC, including those contained or incorporated by reference in the preliminary prospectus supplement related to the proposed public offering to be filed with the SEC. All information in this press release is as of the date of the release, and Adicet undertakes no duty to update this information unless required by law.

    Adicet Bio, Inc.

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    Janhavi Mohite

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  17. MENLO PARK, Calif. and BOSTON, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that on September 17, 2020, the Compensation Committee of Adicet's Board of Directors granted non-qualified stock options of 195,898 shares of its common stock to Nick Harvey pursuant to an Inducement Non-Qualified Stock Option Agreement (the "Harvey Stock Option"). On September 16, 2020, Adicet announced the appointment of Mr. Harvey as Chief Financial Officer responsible for leading the company's financial strategy and management of activities related to accounting, capital markets and business…

    MENLO PARK, Calif. and BOSTON, Sept. 18, 2020 (GLOBE NEWSWIRE) -- Adicet Bio, Inc. ("Adicet") (NASDAQ:ACET), a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases, today announced that on September 17, 2020, the Compensation Committee of Adicet's Board of Directors granted non-qualified stock options of 195,898 shares of its common stock to Nick Harvey pursuant to an Inducement Non-Qualified Stock Option Agreement (the "Harvey Stock Option"). On September 16, 2020, Adicet announced the appointment of Mr. Harvey as Chief Financial Officer responsible for leading the company's financial strategy and management of activities related to accounting, capital markets and business operations.

    The Harvey Stock Option was issued as an inducement non-qualified stock option, pursuant to Rule 5635(c)(4) of the NASDAQ Listing Rules, as an inducement material to Mr. Harvey entering into employment with Adicet. The Harvey Stock Option will vest over a period of four years, with 25% of the shares underlying such option vesting on the first anniversary of the grant and the remaining 75% vesting in thirty-six equal monthly installments thereafter, and is subject to Mr. Harvey's continued employment with Adicet or one of its subsidiaries. The Harvey Stock Option is subject to the terms and conditions of the form of award agreement covering the grant.

    About Adicet Bio, Inc.

    Adicet Bio, Inc. is a biotechnology company discovering and developing allogeneic gamma delta T cell therapies for cancer and other diseases. Adicet is advancing a pipeline of "off-the-shelf" gamma delta T cells, engineered with chimeric antigen receptors and T cell receptor-like antibodies to enhance selective tumor targeting, facilitate innate and adaptive anti-tumor immune response, and improve persistence for durable activity in patients. For more information, please visit our website at http://www.adicetbio.com.

    Adicet Bio, Inc.

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    Anne Bowdidge

    Janhavi Mohite

    Stern Investor Relations, Inc.

    212-362-1200

    Source: Adicet Bio, Inc.

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