Egret Therapeutics Signs Memorandum of Understanding with Genexine Toward Full Ownership of Lead PD-1 Agonist Asset GX-P1 (EGT-101)

Egret Therapeutics, a portfolio company of Turret Capital Management, is a clinical stage biotechnology company focused on function preservation following acute injury

NEW YORK, March 16, 2026 /PRNewswire/ -- Egret Therapeutics, Inc. ("Egret"), a clinical-stage biotechnology company developing novel immune-modulatory therapies for secondary inflammation following traumatic and ischemic disorders, today announced the signing of a non-binding Memorandum of Understanding (MOU) with Genexine, Inc. (KOSDAQ: 095700) to acquire full right, title, and interest in its lead asset, GX-P1 (also known as EGT-101).

"Securing full ownership of EGT-101 is a defining moment for Egret," said Daniel Chai, MD, Co-Founder and CEO of Egret Therapeutics. "By consolidating the intellectual property for this first-in-class PD-1 agonist, we gain the strategic autonomy needed to accelerate development and maximize the potential of our platform to deliver life-changing therapies to patients suffering from acute secondary inflammation."

Under the terms of the MOU, signed March 6, 2026, the parties intend to transition Egret's current exclusive global license into an outright asset transfer. Subject to the execution of a definitive agreement, the proposed transaction would grant Egret sole ownership of the licensed product and all related intellectual property and materials.

"This MOU represents a transformative milestone for Egret," said Henry Park, Chief Financial Officer of Egret Therapeutics. "Transitioning from licensee to outright owner of EGT-101 significantly strengthens our strategic position, simplifies our intellectual property structure, and provides the flexibility to pursue strategic partnerships and long-term value creation opportunities."

Vedik Navale, Chief of Staff at Egret Therapeutics, added: "Our preclinical data show that PD-L1 dramatically reduces Malignant Cerebral Edema to preserve neurological function and improve survival. We are focused on executing our Phase 1b/2a study in Malignant Cerebral Edema following Large Vessel Occlusion Stroke with the urgency these patients need."

About Malignant Cerebral Edema Following Large Vessel Occlusion Stroke (MCE-LVO)

MCE is a life-threatening complication that affects approximately 80,000 LVO patients in the United States. Even after successful reperfusion therapy, most patients remain at risk for catastrophic brain swelling driven by secondary inflammation. Untreated MCE carries an estimated 80% one-week mortality rate and significant loss of neurological function in the patients who survive. Existing treatment options are limited to medical management, which provides only temporary symptom relief, and decompressive hemicraniectomy, an invasive procedure that removes a large part of the skull, which reduces mortality but leaves survivors with severe, permanent disability. No approved pharmacotherapy exists that targets the underlying immune-driven mechanism of cerebral edema. EGT-101 is designed to address this unmet need by intercepting the PD-1+ monocyte-driven inflammatory cascade responsible for fatal cerebral swelling.

About GX-P1 (EGT-101)

EGT-101 is a first-in-class PD-L1-hyFc fusion protein designed for single-dose immune modulation following ischemic and traumatic injury. By selectively engaging PD-1 on circulating monocytes before they infiltrate injured tissue, EGT-101 is designed to reprogram these cells from an inflammatory state to a restorative phenotype—potentially preserving tissue structure and enabling functional recovery.

Promising preclinical data from the laboratories of Egret's co-founders demonstrated that PD-L1 treatment significantly reduces secondary inflammation and improves outcomes in neurological and cardiovascular injury models. EGT-101 has completed a Phase 1a clinical trial in healthy volunteers with no dose-limiting toxicities and favorable pharmacokinetics. It is now being prepared for a Phase 1b/2a clinical trial in MCE-LVO – representing the first therapeutic candidate designed to intercept this inflammatory cascade at its source.

About Egret Therapeutics

Egret Therapeutics is a clinical-stage biotechnology company dedicated to protecting patients from the secondary inflammatory damage that kills or permanently disables survivors of traumatic and ischemic disorders. Egret's scientific co-founders discovered that a distinct population of immune cells—PD-1+ monocytes—act as hidden amplifiers of secondary inflammation across many types of traumatic and ischemic injuries, driving a stereotyped immune cascade that existing therapies fail to address.

Building on this discovery, Egret is developing a broad intellectual property portfolio and a robust development pipeline targeting neurological, cardiovascular, and traumatic indications representing a potential $45B+ global market opportunity.

About Genexine

Genexine, Inc. (KOSDAQ: 095700) is a publicly traded clinical-stage biotechnology company headquartered in South Korea focused on the discovery and development of innovative biologic therapeutics. The company has developed a diversified pipeline across immuno-oncology, immunology, and rare diseases, supported by its proprietary hyFc technology platform designed to enhance the half-life and efficacy of therapeutic proteins. In addition, Genexine is advancing a next-generation mRNA-based bioPROTAC platform for targeted protein degradation, designed to selectively eliminate disease-causing intracellular proteins, including key oncogenic transcription factors. The company is actively developing bioPROTAC candidates targeting proteins such as SOX2 and STAT3, which are implicated in multiple cancers. Genexine maintains global research collaborations and clinical partnerships aimed at advancing next-generation biologics for patients with significant unmet medical needs.

Forward-Looking Statements

This press release contains forward-looking statements regarding the proposed transaction, clinical development plans, and potential market opportunities. These statements are subject to risks and uncertainties, including the execution of definitive agreements, regulatory requirements, and clinical development risks, which may cause actual results to differ materially from those expressed or implied in these statements.

SOURCE Turret Capital Management