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Celyad announces management change

December 1st 2023, Mont-Saint-Guibert, Belgium – Celyad Oncology (Euronext: CYAD), a cutting-edge biotechnology company dedicated to pioneering the discovery and advancement of revolutionary technologies for chimeric antigen receptor (CAR) T-cells announces that its CEO and managing director Georges Rawadi has decided to step down, effective as of Friday December 1, 2023.

Georges has taken this decision for personal reasons. Michel Lussier will take over the CEO responsibilities ad interim. Michel is co-founder and member of the board of Directors of Celyad Oncology.

Hilde Windels, Chair of Celyad Oncology, commented: “We thank Georges for his efforts and dedication to make this pivotal year a success, following Celyad’s change in strategy since last year. We wish him every success in the future.”

The company’s primary objective is to unlock the potential of its proprietary technology platforms and intellectual property, enabling to be at the forefront of developing next-generation CAR T-cell therapies. By fully leveraging its innovative technology platforms, Celyad Oncology aims to maximize the transformative impact of its candidate CAR T-cell therapies and redefine the future of CAR T-cell treatments.

Michel Lussier, interim CEO, commented: “We are grateful for the work that Georges has done and I look forward to working closer with the team again in this interim period. I am confident about the company’s future: the science is great, we have cash in the bank and we have been very successful in our efforts to address the limitations of CAR-T. Hence, we are ready to engage in value adding partnering discussions.”

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Celyad Oncology announces receipt of Nasdaq notice

Mont-Saint-Guibert, Belgium – Celyad Oncology (Euronext & Nasdaq: CYAD) (the “Company”), a biotechnology company focused on innovative technologies for chimeric antigen receptor (CAR) T-cell therapies, received a letter (the “Letter”) on March 31, 2023 from The Nasdaq Stock Market (“Nasdaq”) informing the Company that it failed to maintain the continued listing requirement under Nasdaq Listing Rule 5450(b)(1)(A) for the Nasdaq Global Market, which requires that a listed company’s stockholders’ equity be at least $10.0 million (the “Stockholders’ Equity Requirement”).

Based upon the reported stockholders’ equity of approximately $4.6 million in the Company’s Form 20-F for the period ended December 31, 2022, the Company did not meet the Stockholders’ Equity Requirement.

The Company has a period of 45 calendar days from the date of the Letter, or until May 15, 2023, to submit a plan to regain compliance with the Stockholders’ Equity Requirement. If such a plan is submitted and accepted, Nasdaq may grant an extension of up to 180 calendar days from the date of the Letter for the Company to regain compliance. The Letter has no immediate effect on the listing or trading of the Company’s American Depositary Shares representing ordinary shares (“ADSs”), which will continue to be listed on Nasdaq during this period, subject to the Company’s compliance with other listing standards, under the symbol “CYAD”.

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Celyad Oncology appoints Georges Rawadi as its new CEO

March 24, 2023 Mont-Saint-Guibert, Belgium – Celyad Oncology (Euronext & Nasdaq: CYAD) (the “Company”), a biotechnology company focused on innovative technologies for chimeric antigen receptor (CAR) T-cell therapies, is pleased to announce Georges Rawadi as its new Chief Executive Officer (CEO), effective as of March 23, 2023, with starting date April 17, 2023. Michel Lussier will continue to serve as Interim CEO until April 17 to facilitate transition.

Georges Rawadi is a seasoned executive with over 20 years of experience in pharma/biotech, as research director, business developer, CEO and board member. He spent four years at Celyad Oncology (2014-2018) as Vice-President Business Development & Intellectual Property (“BD & IP”), and has insightful knowledge of both the company and the CAR-T space. Georges Rawadi has a genuine passion for seeking and creating new business opportunities.

Georges Rawadi currently holds a number of Board positions and consultancy roles in the biotechnology industry. Recently, he has served as CEO and Board member of Ysopia Bioscience (France), Vice-President BD & IP of Celyad Oncology and Vice-President Business Development of Cellectis (France – Nasdaq listed company).

Georges Rawadi holds a Master Degree in Biochemistry, a Master Degree in Microanalysis, a Ph.D. in Microbiology and an Executive Master in Management and Strategy in the Health Industry.

Hilde Windels, Chair of the Board, commented: “It is with great enthusiasm that we announce that Georges has been appointed as our new CEO. His in-depth expertise in the CAR-T space and his significant BD and IP expertise are great assets that will help Celyad Oncology to excel in its next phase of growth. We congratulate Georges and wish him all the best in his new role.”

Georges Rawadi added: “I am passionate about the space in which Celyad Oncology is operating and strongly believe in the value of its IP estate and efforts to overcome the current limitations of CAR-T approaches. As such, I am very pleased to be given the opportunity to join Celyad Oncology. I look forward to working with the team and the board, whose passion and vision I share.”

Michel Lussier, Interim CEO and member of the Board, commented: “We are convinced that Georges’s solid business development track record and immuno-oncology in-depth knowledge will make Georges a great leader for Celyad Oncology. We look forward to work with Georges in monetizing our IP and research assets, ensuring that Celyad Oncology can make an impact on a global scale.”

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Celyad Oncology Establishes At-the-Market Facility

Mont-Saint-Guibert, Belgium – Celyad Oncology SA (Euronext & Nasdaq: CYAD), a clinical-stage biotechnology company focused on the discovery and development of chimeric antigen receptor T cell (CAR T) therapies for cancer, today announced that it has entered into an Open Market Sale AgreementSM with Jefferies LLC (“Jefferies”) pursuant to which the Company may from time to time sell, for a period of up to 36 months, through “an at the market offering” (“ATM”), with Jefferies acting as sales agent, up to $25,000,000 of new American Depositary Shares (“ADSs”), each of which represents one ordinary share of the Company, assuming sales of 2,522,704 ADSs in the offering at an offering price of $9.91 per ADS, which was the last reported sale price of the ADSs on the Nasdaq Global Market on September 8, 2020 . The actual number of ADSs issued will vary depending on the sales prices under this offering, however the number of ordinary shares shall not exceed 2,777,777 shares. The new ADSs will be sold at then current market prices. Sales of ADSs in the ATM will only be conducted in the United States through the Nasdaq Stock Market or any other existing U.S. trading market for the ADSs. No sales of ADSs will be conducted in Belgium or through Euronext.

Celyad Oncology currently intends to use net proceeds from sales of ADSs in the ATM for general corporate purposes, including but not limited to the research and development of Company’s clinical and preclinical CAR T cell therapy candidates.

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

The securities are being offered pursuant to a shelf registration statement on Form F-3 (333-248464), which was declared effective by the Securities and Exchange Commission (the “SEC”) on September 4, 2020. The offering will be made only by means of a prospectus supplement and accompanying prospectus that form a part of the registration statement. A prospectus supplement relating to the offering was filed by Celyad Oncology with the SEC on September 11, 2020 and is available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus relating to the offering may be obtained for free by contacting: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 1-877-547-6340 or by email at Prospectus_Department@Jefferies.com.