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PCT, LLC, A Caladrius Company, to Manufacture EU-Compliant Cell Therapy Product for IRX Therapeutics, Inc. From Its New Jersey Facility

ALLENDALE, N.J., Sept. 8, 2015 (GLOBE NEWSWIRE) -- PCT, LLC, A Caladrius Company (PCT), the manufacturing sciences and technical operations subsidiary of cell therapy leader Caladrius Biosciences (NASDAQ:CLBS) and leading external manufacturing partner to the cell therapy industry, announced today that it will expand its current manufacturing capacity at PCT's Allendale, New Jersey facility to support IRX Therapeutics, Inc. (IRX)'s anticipated clinical trial manufacturing needs for the INSPIRE Phase 2b study in head and neck cancer patients. PCT will provide IRX with personnel and dedicated clean room capacity within its current Good Manufacturing Practices (cGMP) infrastructure and, subsequently, pursuant to European Union (EU) cell therapy manufacturing standards.

PCT has been providing manufacturing services since 2008 to support IRX's development of IRX-2, a primary cell-derived biologic with multiple active cytokine components. IRX-2 is a cancer therapeutic designed by IRX to activate a patient's immune system by unlocking the power of immunotherapy to restore immunity and overcome cancer-induced immune suppression. IRX-2 is in late-stage development in a neo-adjuvant regimen for the treatment of head and neck squamous cell carcinoma.

The expanded arrangement includes IRX's use of PCT's ISO Class 6/Class 1,000 clean room system, enabling manufacture of cell-based products that can then be shipped to Europe and, when approved, commercially distributed on the EU market.

"We are pleased to expand our relationship with IRX to manufacture their cell therapy product to EU standards from one of our US locations. The versatility of our operations and our understanding of global regulatory processes provides cell therapy developers like IRX with a distinct advantage as they advance toward commercialization and render PCT the manufacturing partner of choice," said Robert A. Preti, PhD, President of PCT, and Senior Vice President, Development and Technical Operations and Chief Technology Officer of Caladrius Biosciences.

"We are excited to both continue and expand our manufacturing partnership with PCT. With the critical support of PCT's unique expertise and capabilities, we look forward to advancing the clinical and commercial development for our important and promising IRX-2 clinical development program," said Jeffrey Hwang, President and COO, IRX Therapeutics.

About IRX Therapeutics

IRX Therapeutics is a privately held company that develops immune therapies to treat cancer and related diseases. The company's therapies are designed to target and restore the immune system in order to improve a patient's response to next-generation cancer vaccines and novel targeted therapeutics. IRX Therapeutics was founded by John W. Hadden, M.D., a pioneer in the field of Immunopharmacology. The company's product platform under development, which is based on over 30 years of research by Dr. Hadden, seeks to restore the immune system of cancer patients, which is suppressed by the onset of the disease. www.irxtherapeutics.com

About PCT, LLC, A Caladrius Company

PCT, LLC, A Caladrius Company, is an external cell therapy optimization, development, and manufacturing partner. With proven expertise and more than 16 years of experience, PCT supports the advancement of its clients' life-changing medical treatments by mitigating the risks of product development and providing efficient, cost-effective, custom manufacturing solutions to advance clinical development programs. PCT's diverse client base includes leading biotechnology and pharmaceutical companies, as well as academic research institutions. It is the only cGMP-compliant cell therapy manufacturing provider with facilities on both the East and the West Coasts of the United States, as well as the only one to see a client's cell therapy product receive approval from the US Food and Drug Administration for commercial sale. www.pctcaladrius.com

About Caladrius Biosciences

Caladrius Biosciences, Inc. is among the first of a new breed of immunotherapy companies with proven expertise and unique experience in cell process optimization, development, and manufacturing. Caladrius combines a leading cell therapy service provider with a development pipeline including late-stage clinical programs based on proprietary platform technology for immuno-oncology, as well as additional platform technologies for ischemic repair and immunomodulation. This integrated approach supports the industry in bringing significant life-improving medical treatments to market. www.caladrius.com

Forward-looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management's current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to the successful execution of the Company's business strategy, the Company's ability to develop and grow its business, the successful development of cellular therapies with respect to the Company's research and development and clinical evaluation efforts in connection with the Company's Immuno-oncology Program, Ischemic Repair Program, Immune Modulation Program and other cell therapies, the future of the regenerative medicine industry and the role of stem cells and cellular therapy in that industry, and the performance and planned expansion of the Company's wholly-owned subsidiary and its center of excellence for cell therapy process development, engineering and manufacturing, PCT, as well as its efforts to expand its capabilities into the cell therapy tools market. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Factors that could cause future results to materially differ from the recent results or those projected in forward-looking statements include the "Risk Factors" described in the Company's Annual Report on Form 10-K filed with the Securities and Exchange Commission ("SEC") on March 2, 2015, and in the Company's other periodic filings with the SEC. The Company's further development is highly dependent on future medical and research developments and market acceptance, which is outside of its control.

CONTACT: Caladrius Biosciences, Inc. Eric Powers Manager of Communications and Marketing Phone: +1-212-584-4173 Email: epowers@caladrius.com

Source:Caladrius Biosciences, Inc.