Adicet Bio appoints Michael Grissinger to its board

REDWOOD CITY, Calif. & BOSTON - Adicet Bio, Inc. (NASDAQ:ACET), a biotechnology company specializing in gamma delta T cell therapies for cancer and autoimmune diseases, announced today the addition of Michael Grissinger to its Board of Directors. Grissinger, who has over forty years of experience in the pharmaceutical industry, has held various leadership roles in business development and strategic planning at major global pharmaceutical companies.

Chen Schor, President and CEO of Adicet Bio, expressed confidence in Grissinger’s appointment, citing his operational and business development expertise, especially in immunology, as a valuable asset for the company’s strategic growth. Grissinger’s track record includes significant contributions to business and commercial strategies, which Schor believes will be vital for Adicet’s advancement of its gamma delta T cell platform.

Michael Grissinger’s career includes more than two decades at Johnson & Johnson, where he led the Immunology Therapeutic Area Business Development and Licensing Group and was a member of the Worldwide Immunology Franchise leadership team. Prior to his tenure at Johnson & Johnson, he spent 12 years at Ciba-Geigy. Additionally, Grissinger holds board positions at Aprea Therapeutics and several private biotechnology firms. His educational background includes a B.S. in Chemistry and an M.B.A.

Grissinger expressed his enthusiasm for joining Adicet Bio’s Board, looking forward to contributing to the company’s pipeline programs focused on autoimmune diseases and oncology.

The press release also contained forward-looking statements regarding Adicet Bio’s strategic and growth plans, as well as the anticipated impact of its board members on the company’s business. While analysts have set price targets ranging from $4 to $8, current market conditions remain challenging. It highlighted potential risks and uncertainties that could affect the company’s operations and future results, including economic conditions, public health emergencies, regulatory approvals, and clinical study outcomes. For detailed analysis and additional insights, investors can access comprehensive research reports available on InvestingPro, which offers extensive coverage of over 1,400 US stocks.

This news is based on a press release statement from Adicet Bio, Inc.

In other recent news, Adicet Bio, Inc. has been notified by the Nasdaq Stock Market regarding non-compliance with the minimum bid price requirement for its stock, which has been below $1.00 per share for 30 consecutive business days. The company has until October 6, 2025, to address this issue and regain compliance. In addition to this, Adicet Bio has received Fast Track Designation from the U.S. Food and Drug Administration for its investigational treatment ADI-001, targeting systemic sclerosis and other autoimmune diseases. The company is actively enrolling patients in a Phase 1 clinical trial for lupus nephritis, with preliminary results expected in the first half of 2025. Adicet Bio also plans to initiate enrollment for other autoimmune conditions, including systemic lupus erythematosus and systemic sclerosis, in the second quarter of 2025. Furthermore, H.C. Wainwright has maintained a Neutral rating on Adicet Bio’s stock, with insights into the company’s progress with ADI-001. The company continues to advance its clinical programs, with updates shared at the Guggenheim Securities SMID Cap Biotech Conference.

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