Nuvation Bio Announces Discontinuation Of NUV-422 Clinical Development Program |

Company prioritizes NUV-868, its BD2 selective BET inhibitor currently in a Phase 1 dose escalation study in advanced solid tumors, and its novel small molecule Drug-Drug Conjugate (DDC) platform

Company restructuring and cost savings associated with NUV-422 program discontinuation to extend cash runway through 2028

Nuvation Bio Inc. (NYSE: NUVB), a biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel therapeutic candidates, today announced that it will prioritize NUV-868 and development of its novel small molecule DDC platform and discontinue clinical development of NUV-422.

The decision to discontinue clinical development of NUV-422 is the result of an internal risk-benefit analysis factoring in feedback received from the U.S. Food and Drug Administration (FDA) in a partial clinical hold letter for the Company's monotherapy Phase 1/2 study (Protocol NUV-422-02) and clinical hold letters for its combination Phase 1b/2 studies (Protocols NUV-422-03 and NUV-422-04). The FDA verbally placed a partial clinical hold on the Phase 1 dose escalation portion of the Company's NUV-422-02 study in June 2022. At that time, the Company had proactively paused enrollment of new patients following the emergence of a safety signal, uveitis, which is a form of inflammation of the eye. Furthermore, the FDA requested a mitigation plan to address the adverse event of uveitis. Given that the etiology of uveitis associated with NUV-422 is not understood and that its development appears unpredictable, the Company believes that it would be difficult to craft an effective mitigation plan without significant further research.

Nuvation Bio will intensify its focus and concentrate its resources on the clinical development of NUV-868, its BD2-selective BET inhibitor, and identifying a lead clinical candidate from its novel small molecule DDC platform. Enrollment is ongoing in the Phase 1 monotherapy study of NUV-868, and the Company has planned Phase 1b studies of NUV-868 in combination with olaparib or enzalutamide to enhance the potential value of this program across multiple tumor types.

A reduction in work force of 35% and other cost savings associated with the NUV-422 program discontinuation will enable Nuvation Bio to extend its cash runway through 2028. The Company expects to report a balance of approximately $703.8 million in cash, cash equivalents and marketable securities as of June 30, 2022.

"Nuvation Bio was founded on a commitment to advance a broad pipeline of innovative therapies as quickly and safely as possible for people with cancers that do not currently have adequate treatment options. As part of this commitment, we have always operated as a scientifically rigorous, data-driven company. Following an extensive analysis of the Phase 1 dose escalation study of NUV-422 in solid tumors, we made the determination that uveitis cannot be safely managed. We sincerely thank all patients and investigators who were part of the NUV-422 clinical program for their prodigious efforts. We also thank our employees for their commitment to the Nuvation Bio mission. It was a difficult decision to discontinue the program and we are extremely grateful for each of their contributions," said David Hung, M.D., Founder, President, and Chief Executive Officer of Nuvation Bio.

Dr. Hung added: "We believe that our disciplined, data-driven and timely decision to prioritize our other programs over the NUV-422 program based on our most recent clinical data serves to increase our probability of ultimate success in our efforts to bring game-changing drugs to patients who desperately need them. To that end, we are excited to continue enrolling patients in the NUV-868 Phase 1 study and are encouraged by our progress with our novel small molecule DDC platform. With a robust cash balance and a world class drug development team, we are well positioned to progress these priority programs in some of the most difficult-to-treat cancers."

Nuvation Bio is a biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel therapeutic candidates. Nuvation Bio's proprietary portfolio includes mechanistically distinct oncology therapeutic product candidates, each targeting some of the most difficult-to-treat types of cancer. Nuvation Bio was founded in 2018 by biopharma industry veteran David Hung, M.D., who previously founded Medivation, Inc., which brought to patients one of the world's leading prostate cancer medicines. Nuvation Bio has offices in New York and San Francisco. For more information, please visit www.nuvationbio.com .

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Nuvation Bio's cash balance and cash runway and anticipated patient enrollment in its ongoing Phase 1 and planned Phase 1b studies of NUV-868. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management team of Nuvation Bio and are not predictions of actual performance. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ from those anticipated by the forward-looking statements, including but not limited to the challenges associated with conducting drug discovery and initiating or conducting clinical trials due to, among other things, difficulties or delays in the regulatory process, enrolling subjects or manufacturing or acquiring necessary products; the emergence or worsening of adverse events or other undesirable side effects; risks associated with preliminary and interim data, which may not be representative of more mature data; and competitive developments. Risks and uncertainties facing Nuvation Bio are described more fully in its Form 10-Q filed with the SEC on May 9, 2022, under the heading "Risk Factors," and other documents that Nuvation Bio has filed or will file with the SEC. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release. Nuvation Bio disclaims any obligation or undertaking to update, supplement or revise any forward-looking statements contained in this press release.

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Nuvation Bio Investor Contact: ir@nuvationbio.com Nuvation Bio Media Contact: Argot Partners Leo Vartorella leo@argotpartners.com

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Maraganore brings more than 35 years of scientific, research and development, capital markets and managerial leadership expertise to ProKidney

Fox joins Board with more than 25 years of healthcare investment banking, finance and capital markets experience

ProKidney Corp. (Nasdaq: PROK) ("ProKidney" or the "Company"), a leading clinical-stage cellular therapeutics company focused on therapies for chronic kidney disease ("CKD"), today announced the appointments of John M. Maraganore, Ph.D. and Jennifer Fox to its Board of Directors.

"We are thrilled to welcome John and Jen to the ProKidney Board. They each have a wealth of experience that we believe will be invaluable to the Company as we enter a crucial time in its evolution," said Pablo Legorreta, ProKidney Chairman. "As the founding CEO of Alnylam Pharmaceuticals, and with experience over three decades at numerous global biopharmas, I am confident that John will be a tremendous resource for the Board and our world-class leadership team as we continue advancing REACT™ through its Phase 3 studies with the aim of making it available to chronic kidney disease patients throughout the world. Moreover, as we recently completed our business combination with Social Capital Suvretta Holdings Corp III, I am confident that Jen's financial and capital markets expertise gained over 25-plus years as an investment banker will serve us well throughout our life as a publicly traded company."

Dr. Maraganore is the owner of JMM Consulting, LLC and is a venture partner at ARCH Venture Partners, a venture advisor at Atlas Venture, an executive advisor at RTW Investments and a senior advisor at Blackstone Life Sciences, each of which are investment funds. Previously, Dr. Maraganore served as the founding chief executive officer and as a director of Alnylam Pharmaceuticals, Inc. ("Alnylam") (Nasdaq: ALNY), a publicly traded biopharmaceutical company. Prior to founding Alnylam, Dr. Maraganore served in a number of leadership roles including as senior vice president, strategic product development with Millennium Pharmaceuticals, Inc., a biopharmaceutical company (now Takeda Oncology) ("Millennium"). Before Millennium, he served as director of molecular biology and director of market and business development at Biogen, and as a scientist at ZymoGenetics, Inc., a biotechnology company, and The Upjohn Company, a pharmaceutical company. Dr. Maraganore holds an M.S. and a Ph.D. in Biochemistry and Molecular Biology from the University of Chicago and a B.S. in Biological Sciences also from the University of Chicago.

Dr. Maraganore currently serves on the board of directors of publicly traded biotechnology companies Agios Pharmaceuticals, Inc. (Nasdaq: AGIO), Beam Therapeutics Inc. (Nasdaq: BEAM), Kymera Therapeutics, Inc. (Nasdaq: KYMR), and Takeda Pharmaceutical Co LTD (NYSE: TAK) and as a director of several privately-held companies. Dr. Maraganore also serves as a strategic advisor to a number of biotechnology companies. He is the former Chair and current member of the Executive Committee of the Biotechnology Innovation Organization (BIO), where he serves as Chair Emeritus.

"ProKidney is a company with tremendous potential and I am honored to join its talented Board of Directors," added Dr. Maraganore. "With REACT™, we have an opportunity to meaningfully improve the lives of patients suffering the debilitating effects of CKD. I look forward to working closely with Pablo and the rest of the Board as we continue to execute our mission of driving a delay in the onset of dialysis."

Ms. Fox currently serves as Chief Financial Officer of Nuvation Bio (Nasdaq: NUVB), an oncology-focused biopharmaceutical company. Prior to joining Nuvation Bio in 2020, she spent more than 25 years in healthcare investment banking, where she advised on billions of dollars of financial and strategic transactions. She joined Nuvation Bio from CitiGroup, where she served as a managing director and co-head of the Healthcare Corporate and Investment Banking Group. Prior to CitiGroup, Ms. Fox held senior positions in investment banking at Deutsche Bank, Bear Stearns, Bank of America and Prudential Securities. She holds B.S. degrees in finance and marketing from Manhattan College.

"ProKidney is uniquely positioned for success with REACT™, which is in Phase 3 development as a potentially disease-modifying treatment for CKD," added Ms. Fox. "I am excited to partner with management and the Board to help ensure ProKidney's long-term success as a public Company, as we continue to advance the development of REACT™ with the goal of bringing it to the millions suffering from CKD worldwide."

With the appointment of Dr. Maraganore and Ms. Fox, ProKidney's Board of Directors has expanded to nine members. Collectively, these individuals have decades of experience in the life sciences industry and financial markets. They bring the Company significant expertise in scientific, research and development, regulatory, commercial, management and financial disciplines at both emerging and established organizations.

ProKidney, a pioneer in the treatment of CKD through innovations in cellular therapy, was founded in 2015 after a decade of research. ProKidney's lead product candidate, REACT™ (Renal Autologous Cell Therapy), is a first-of-its-kind, patented, autologous cellular therapy with the potential to not only slow and stabilize the progression of CKD, but in some cases possibly drive meaningful improvement in kidney function. Late-stage CKD, Stage 3b - 4, is a key target for REACT™ therapy. REACT™ has received Regenerative Medicine Advanced Therapy (RMAT) designation, as well as FDA and EMA guidance, supporting its ongoing Phase 3 clinical program, which launched in January 2022. For more information, visit www.prokidney.com.

There are no therapies that effectively reverse late-stage CKD. CKD is a serious diagnosis with significant morbidity and mortality, notable for the 5-year mortality of a new diagnosis of CKD Stage 4 being higher than that of a new non-metastatic cancer diagnosis. CKD most often presents as a progressive decline in kidney function ultimately resulting in the failure of the kidneys and the need for renal replacement therapy, such as hemodialysis, or kidney transplant. One in three Americans is at risk for CKD, which currently affects approximately 75 million people in the United States and Europe and over 400 million across Asia. CKD is among the largest single expenses incurred by the US Health care system.

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. ProKidney's actual results may differ from its expectations, estimates and projections and consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as "expect," "estimate," "project," "budget," "forecast," "anticipate," "intend," "plan," "may," "will," "could," "should," "believes," "predicts," "potential," "continue," and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These forward-looking statements include, without limitation, the Company's expectations with respect to financial results, future performance, development and commercialization of products, if approved, the potential benefits and impact of the Company's products, if approved, potential regulatory approvals, and the size and potential growth of current or future markets for the Company's products, if approved. Most of these factors are outside of the Company's control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the inability to maintain the listing of the Company's Class A ordinary shares on the Nasdaq; the inability to implement business plans, forecasts, and other expectations or identify and realize additional opportunities, which may be affected by, among other things, competition and the ability of the Company to grow and manage growth profitably and retain its key employees; the risk of downturns and a changing regulatory landscape in the highly competitive biotechnology industry; the inability of the Company to raise financing in the future; the inability of the Company to obtain and maintain regulatory clearance or approval for its products, and any related restrictions and limitations of any cleared or approved product; the inability of the Company to identify, in-license or acquire additional technology; the inability of Company to compete with other companies currently marketing or engaged in the biologics market and in the area of treatment of kidney diseases; the size and growth potential of the markets for the Company's products, if approved, and its ability to serve those markets, either alone or in partnership with others; the Company's estimates regarding expenses, future revenue, capital requirements and needs for additional financing; the Company's financial performance; the Company's intellectual property rights; uncertainties inherent in cell therapy research and development, including the actual time it takes to initiate and complete clinical studies and the timing and content of decisions made by regulatory authorities; the impact of COVID-19 or geo-political conflict such as the war in Ukraine on the combined company's business; and other risks and uncertainties indicated from time to time in the Company's filings with the Securities and Exchange Commission. The Company cautions readers that the foregoing list of factors is not exclusive and cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.

Investors: Lee Roth Burns McClellan lroth@burnsmc.com +1 (212) 300-8331

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Dosing underway for Phase 1 monotherapy study of NUV-868 in advanced solid tumors

Strong financial position provides cash runway through 2028; cash, cash equivalents and marketable securities of $703.8 million as of June 30, 2022

"We are committed to advancing innovative therapies as quickly and safely as possible for people with cancers that do not currently have adequate treatment options. As previously announced, this commitment has led us to re-prioritize our pipeline and focus on our BET inhibitor, NUV-868, which is progressing in an ongoing Phase 1 study, and our novel small molecule DDC platform," said David Hung, M.D., Founder, President and Chief Executive Officer of Nuvation Bio. "With $703.8 million in cash, cash equivalents and marketable securities as of June 30, 2022, and our experienced team — including our new Chief Medical Officer, David Liu, M.D., Ph.D., and our new Chief Regulatory Officer, Kerry Wentworth — we are well positioned to advance our programs for the benefit of patients and our stakeholders."

NUV-868, BD2-Selective BETi : Advanced solid tumors

As of June 30, 2022, Nuvation Bio had cash, cash equivalents and marketable securities of $703.8 million.

For the three months ended June 30, 2022, research and development expenses were $28.9 million, compared to $14.0 million for the three months ended June 30, 2021. The increase was primarily due to a $12.3 million increase in third-party costs related to research services and manufacturing to advance our current preclinical programs and Phase 1/2 clinical trial, as well as a $2.5 million increase in personnel-related costs driven by an increase in headcount and stock-based compensation.

For the three months ended June 30, 2022, general and administrative expenses were $8.9 million, compared to $6.4 million for the three months ended June 30, 2021. The increase was primarily due to a $1.9 million increase in personnel-related costs driven by an increase in headcount and stock-based compensation, a $0.4 million increase in other miscellaneous expenses, a $0.1 million increase in legal fees, a $0.1 million increase in taxes, a $0.1 million increase in occupancy expenses, and a $0.1 million increase in insurance, offset by a $0.2 million decrease in professional fees.

For the three months ended June 30, 2022, Nuvation Bio reported a net loss of $34.9 million, or $0.16 per share. This compares to a net loss of $19.3 million, or $0.09 per share, for the comparable period in 2021.

On August 1, 2022, Nuvation Bio announced a restructuring, including a 35% workforce reduction, to reduce operating costs and align its organization with its re-prioritized development programs.

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Nuvation Bio's cash runway and the potential therapeutic benefit of its product candidates. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management team of Nuvation Bio and are not predictions of actual performance. These forward-looking statements are subject to a number of risks and uncertainties that may cause actual results to differ from those anticipated by the forward-looking statements, including but not limited to the challenges associated with conducting drug discovery and initiating or conducting clinical trials due to, among other things, difficulties or delays in the regulatory process, enrolling subjects or manufacturing or acquiring necessary products; the emergence or worsening of adverse events or other undesirable side effects; risks associated with preliminary and interim data, which may not be representative of more mature data; risks related to cost reduction efforts; and competitive developments. Risks and uncertainties facing Nuvation Bio are described more fully in its Form 10-Q to be filed with the SEC on or about August 4, 2022, under the heading "Risk Factors," and other documents that Nuvation Bio has filed or will file with the SEC. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release. Nuvation Bio disclaims any obligation or undertaking to update, supplement or revise any forward-looking statements contained in this press release.

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Dr. Liu is a clinical leader who brings expertise in the discovery, development, and regulatory approval of oncology therapies worldwide

Ms. Wentworth has over two decades of industry experience in domestic and international regulatory and quality affairs

Nuvation Bio Inc. (NYSE: NUVB), a biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel therapeutic candidates, today announced the appointment of David Liu, M.D., Ph.D., as Chief Medical Officer and Kerry Wentworth as Chief Regulatory Officer. Dr. Liu will lead Nuvation Bio's clinical development team and collaborate with the executive committee to provide strategic direction for the Company's research and drug development programs. Ms. Wentworth will oversee regulatory and quality affairs across the Company's pipeline.

"I am honored to join Nuvation Bio and oversee the clinical development of innovative therapies for the most difficult-to-treat cancers," said Dr. Liu. "I look forward to working with this experienced and dedicated team to address the unmet needs of cancer patients."

"Nuvation Bio's mission to bring meaningful cancer treatments to patients who have nearly exhausted all options deeply resonates with me," said Ms. Wentworth. "The Company is taking on this bold challenge with tenacity and urgency, and I am proud to contribute to this important work."

Dr. Liu brings over 20 years of experience leading the discovery and development of oncology therapies, including New Drug Application (NDA) submissions for multiple oncology assets in the U.S., Europe, and China. Most recently, Dr. Liu served as the Chief Medical Officer at a biotechnology company based in Shanghai, China. There, he built and led their clinical research and development organization, including global clinical research, global clinical operations, pharmacovigilance, biostatistics, programming and data management, clinical pharmacology, and drug supply.

Ms. Wentworth has over 25 years of experience in domestic and international regulatory and quality affairs. Her background spans early and late development across multiple therapeutic areas, including oncology, osteoarthritis, pain management, autoimmune disorders, and rare diseases. She also has a broad scope of product knowledge, ranging from injectable small molecules to complex autologous platforms. Ms. Wentworth most recently served as Chief Regulatory Officer at Flexion Therapeutics, which was acquired by Pacira Biosciences in 2021, setting and delivering on regulatory and quality strategies across their product portfolio. Notably, Ms. Wentworth was instrumental in leading the company's first NDA successfully into commercialization.

"We are pleased for David and Kerry to join the Nuvation Bio team and believe their decades of focused experience at leading global biopharmaceutical companies will significantly contribute to the development of our various programs," said David Hung, M.D., Founder, President, and Chief Executive Officer of Nuvation Bio. "We look forward to working with them as we aim to meaningfully improve the lives of cancer patients."

Earlier in his career, Dr. Liu held several roles of increasing strategic responsibility at Bristol Myers Squibb, where he became a leader in Oncology Global Clinical Research, including leading the Global Prostate Cancer Program, Pediatric Clinical Development, and Translational Research for ipilimumab, and development of nivolumab and ipilimumab for China. After Bristol Myers Squibb, Dr. Liu was the Global Lead Physician at Celgene for the revlimid plus rituximab submission program in indolent lymphoma. Dr. Liu earned a Ph.D. from the Massachusetts Institute of Technology, an M.S. from the University of Toledo, and an M.D. from Beijing Medical University (Peking University School of Medicine).

Prior to joining Flexion, Ms. Wentworth served as Vice President, Clinical, Regulatory, and Quality at Agenus, Inc., where she led all global regulatory and clinical development efforts. Previously, Ms. Wentworth led the regulatory and quality function for Genelabs Technologies, Inc., and prior to that held positions of increasing responsibility within Regulatory Affairs at Genzyme. Ms. Wentworth holds a B.S. in pre-veterinary medicine from the University of New Hampshire.

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Nuvation Bio Inc. (NYSE: NUVB), a biopharmaceutical company tackling some of the greatest unmet needs in oncology by developing differentiated and novel therapeutic candidates, today announced the Food and Drug Administration (FDA) has placed a partial clinical hold on the Company's Phase 1 dose escalation study of NUV-422 in solid tumors, including high grade glioma, HR+/HER2- advanced breast cancer and metastatic castration resistant prostate cancer. The Company's Phase 1 trial began enrolling patients 19 months ago in December 2020 and, in recent months, was exploring higher doses to define a maximum tolerated dose. Following the emergence of uveitis, a form of inflammation in the eye, in certain patients receiving NUV-422, the Company proactively paused enrollment of new patients in order to further assess these adverse events with investigators and uveitis experts, and also reached out to the FDA for guidance around an appropriate path forward. While the partial hold is in place, no new patients will be enrolled in the NUV-422 program, although current study participants may continue to be treated in the Phase 1 study.

"We are committed to patient safety across all of our studies and to working collaboratively with the FDA to develop, as efficiently as possible, new medicines where existing therapies are inadequate," said David Hung, M.D., founder, president and chief executive officer of Nuvation Bio. "Based upon the recent development of uveitis as a potential safety signal, we will conduct an overall risk/benefit analysis of the NUV-422 program. Our goal is always to ensure that we deploy our resources on programs that have the highest probability of success and of generating value for patients and our investors. With $737.7 million in cash as of March 31, 2022, we are well positioned to continue developing all of our internal product candidates.

The Company will provide updates on the direction of the NUV-422 program after it has completed its internal risk-benefit analysis which will factor in feedback from FDA.

Certain statements included in this press release that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements are sometimes accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, the statement regarding the adequacy of Nuvation Bio's cash resources to develop its product candidates. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of the management team of Nuvation Bio and are not predictions of actual performance. These forward-looking statements are subject to a number of risks and uncertainties, including but not limited to the challenges associated with conducting drug discovery and initiating or conducting clinical trials due to, among other things, difficulties or delays in the regulatory process, enrolling subjects or manufacturing or acquiring necessary products; the emergence or worsening of adverse events or other undesirable side effects; risks associated with preliminary and interim data, which may not be representative of more mature data; and competitive developments. Risks and uncertainties facing Nuvation Bio are described more fully in its Form 10-Q filed with the SEC on May 9, 2022, under the heading "Risk Factors," and other documents that Nuvation Bio has filed or will file with the SEC. You are cautioned not to place undue reliance on the forward-looking statements, which speak only as of the date of this press release. Nuvation Bio disclaims any obligation or undertaking to update, supplement or revise any forward-looking statements contained in this press release.

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While there’s been plenty of focus on apps and cloud computing in the technology space, advances are also being made in hardware-focused sectors such as nanotechnology.

Nanotechnology uses include everything from safer food processing to more efficient drug-delivery systems to tiny transistors that allow for smaller, more powerful computer chips. Unsurprisingly, nanotechnology applications are set to grow significantly in the coming years. The global nanotechnology market is projected to reach US$70.7 billion by 2026, growing at a compound annual growth rate of 9.2 percent between 2020 and 2026.

Still, for investors just starting to look at nanotechnology stocks, it can be difficult to know where to begin as nanotechnology applications are so varied. As a starting point, here’s an overview of six of the top areas in which nanoscience and nanotechnologies are making a big difference today.

Perhaps the first thing that comes to mind when one thinks of nanotechnology is advancements in various types of materials and protective coatings. From fabrics and sporting gear to eyeglasses and computer and camera displays, there are plenty of possibilities for nanotechnology applications.

How do nanoscale materials help make products better? As the National Nanotechnology Initiative explains, using nanotechnology, “materials can effectively be made to be stronger, lighter, more durable, more reactive, more sieve-like, or better electrical conductors, among many other traits.” Nanotechnology can also improve the coverage or absorption of cosmetics, and can make fabrics resistant to wrinkling and bacterial growth.

For example, Nano One Materials (TSX:NANO,OTC Pink:NNOMF) is developing technology to process high volumes of advanced nanomaterials at a low cost, initially targeting materials used in lithium-ion batteries. It has a joint development agreement with Johnson Matthey (LSE:JMAT,OTC Pink:JMPLF), a multinational specialty chemicals and sustainable technology company, for lithium battery materials.

Nanophase Technologies (OTCQB:NANX) and Lightwave Logic (NASDAQ:LWLG) are also focused on nanotechnology-based materials.

Nanotech is used in the life science sector for therapy techniques, diagnostics and complex drug-delivery systems. For instance, Medlab Clinical’s (ASX:MDC) NanoCelle delivery platform includes CBD and THC therapeutics.

Meanwhile, nanomedicine startup T2 Biosystems (NASDAQ:TTOO) is creating lab-quality diagnostic technology based on superparamagnetic nanoparticles. This nanoparticle technology platform can be used with a number of binding agents, including antibodies, nucleic acids and small molecules.

Other examples of nanotechnology in medicine include antiviral medicines, such as NanoViricides’ (NYSEAMERICAN:NNVC) medicines targeting influenza, HIV/AIDS, herpes and dengue fever, as well as RNAi therapeutic techniques, like Arrowhead Pharmaceuticals’ (NASDAQ:ARWR) dynamic polyconjugate delivery system.

While one might first think of genetically modified organisms when it comes to food and technology, nanotechnology also has an important role to play in the future of food. Nanotechnology can be used to enhance texture and flavor during food production and food processing, and to better preserve and protect food from microbes via food packaging that uses nanotechnology.

Further, engineered nanomaterials can be used to control water and pesticide use on agricultural crops, delivering targeted nutrients or crop protection throughout the cultivation process.

Anyone watching the technology space is no doubt familiar with the rate of advancement predicted by Moore’s Law, which anticipates a doubling of transistor density each year. Electrical circuitry is becoming ever smaller, and it’s nanotechnology that makes such advancements possible.

As an example, in 2015, IBM (NYSE:IBM) announced it was working on a computer chip that would use 7 nanometer transistors; then, just two years later, it created a 5 nanometer chip. In mid-2021, the tech giant announced the development of a 2 nanometer chip projected to achieve 45 percent higher performance, or 75 percent lower energy use, than the advanced 7 nanometer chips.

For its part, Samsung (KRX:005930) has developed its own 5 nanometer process that can make chips even smaller and more efficient in terms of power. In mid-2020, Reuters reported that the company’s semiconductor manufacturing division had scored a contract to make new Qualcomm (NASDAQ:QCOM) X60 modem chips, which connect devices such as smartphones to 5G wireless data networks.

Partway through 2021, the South Korean multinational electronics company extended a partnership with Synopsys (NASDAQ:SNPS) for the advancement of 3 nanometer gate-all-around process technology targeting high-performance computing, 5G, mobile and artificial intelligence applications.

More recently, 2022 saw Samsung introduce mass production of 3 nanometer chip technology, which reportedly boasts a 45 percent reduction in power usage alongside a 23 percent improvement in performance over Apple's (NASDAQ:AAPL) M1 and M2 chips.

Nanotechnology applications in the energy sector include uses in both energy storage and the recovery of oil and gas. For example, PyroGenesis Canada (TSX:PYR,OTCQB:PYRNF) uses its plasma-based tools and processes to help oil and gas companies advance greener and more efficient recovery operations. Its plasma processes are also used by the US Department of Defense and by the additive manufacturing and 3D printing industries.

Nanotechnology is used in the renewable energy sector too, for purposes such as enhancing solar cells. Oak Ridge National Laboratory has created microscopic zinc oxide cones, known as nanocones, that can increase energy efficiency in each solar cell.

Finally, beyond enhancing solar cells, nanotechnology is important in environmental and health applications, including air and water treatment. For example, US researchers at Northwestern University’s International Institute of Nanotechnology have developed a lightweight membrane coated with nanostructures that binds to phosphate and acts like a sponge to selectively sequester up to 99 percent of phosphate ions from polluted water.

Nanotech can also be used to improve air quality. India-based startup Nanomatrix Materials has developed air conditioner filters that use graphene-silver technology to purify in-room air and sterilize 99 percent of airborne microbes. These filters can convert conventional air conditioners into air purifiers.

Nanotechnology applications for air treatment may also prove helpful in the fight against the ongoing COVID-19 pandemic. In Israel, researchers at Ben-Gurion University of the Negev are developing a new type of air filter that can self-sterilize while decontaminating the air. This air filtration system is based on laser-induced graphene filters that remove viruses and bacteria in water.

This is an updated version of an article first published by the Investing News Network in 2015.

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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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NanoXplore Inc. (" NanoXplore " or the " Company ") (TSX: GRA and OTCQX: NNXPF) announces today that after more than eight years with NanoXplore, Luc Veilleux, CFO, will be departing the Company from his position on July 18, 2022 and will be joining VoltaXplore as CFO. He will remain with the Corporation until September 1, 2022 to ensure a smooth transition. Luc has over 25 years of executive management, financial and operational experience in manufacturing and mining industries. His previous roles include CFO of Mason Graphite, President of Maxi Canada, and CFO of Imerys Graphite and Carbon. Mr. Veilleux, with his work ethic and talent, made a major contribution to NanoXplore's development.

"On behalf of everyone at NanoXplore, I'd like to express my gratitude to Luc for his outstanding leadership, selfless partnership, and financial stewardship. Luc has played a crucial role in NanoXplore's success and growth by helping lay the solid foundation that supports the company's innovation, global presence and financial strength. I am looking forward to continue working with Luc in VoltaXplore" said Soroush Nazarpour, President and CEO, NanoXplore.

"I'm deeply appreciative of the opportunity to have served as Chief Financial Officer of NanoXplore. The skills that I have strengthened working with NanoXplore have been invaluable, and I'm looking forward to transitioning to the next professional phase of my life" added Luc Veilleux.

APPOINTMENT OF NEW CFO, MR. PEDRO AZEVEDO

NanoXplore announces the appointment of Pedro Azevedo to the position of Chief Financial Officer effective July 18, 2022. Until recently, Mr. Azevedo was the CFO of Tarkett Sports, a division of publicly traded global manufacturing company Tarkett S.A. Prior to that, he occupied a variety of positions starting from a cost accountant to different corporate controller functions. Mr. Azevedo was instrumental at demonstrating his competency and leadership skills. He brings extensive experience in manufacturing, operations, and M&A. Mr. Nazarpour added, "I'm excited to welcome Pedro to NanoXplore. He is a high-impact executive who brings a compelling blend of operational and financial discipline. He will be a strong partner as we pursue our growth."

CHANGES TO THE BOARD OF DIRECTORS

Ms. Nathalie Pilon had resigned as board member of NanoXplore effective as of July 4, 2022, so that she may focus her efforts on other professional duties. The Company would like to extend heartfelt thanks to Ms. Pilon for her services. The Board of Directors together with the Company has initiated the search for a successor.

"On behalf of our Board, we thank Nathalie for her service and commitment to the Company, we greatly appreciate the leadership, insight, and expertise that Nathalie has provided since she joined." Commented Benoit Gascon, Lead Director of the Board of Directors of NanoXplore Inc.

NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in transportation and industrial markets. The Company provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities across North America and Europe. Please visit www.nanoxplore.ca .

For further information, please contact:

Martin Gagné Director, Investor Relations martin.gagne@nanoxplore.ca Tel: 438.476.1342

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NanoXplore Inc. ("NanoXplore" or "the Company") (TSX: GRA and OTCQX: NNXPF), a world-leading graphene company, reported today financial results for the third quarter ended March 31, 2022.

Soroush Nazarpour, President and Chief Executive Officer, stated: "I am very pleased with NanoXplore's performance in Q3-2022 as we delivered record revenues from customers and Adjusted EBITDA consistent with our expectations, despite unfavourable supply chain issues. We remain on track to meet our revenue guidance for fiscal 2022 and to achieve positive Adjusted EBITDA in the fourth quarter."

Luc Veilleux, Chief Financial Officer, stated: "Revenues from customers improved by 51.9% in the third quarter of 2022 to $28.0 million compared to the previous quarter. The increase is mainly explained by a positive product mix including graphene-enhanced products, the acquisition of Canuck completed on December 15, 2021 and additional price increases. Adjusted EBITDA improved by $0.9 million from Q2-2022 to -$2.2 million in Q3-2022. The positive variance was driven by better product mix including graphene-enhanced products and price increases."

All amounts in this press release are in Canadian dollars, unless otherwise stated.

Results of operations may include certain unusual and other items which have been separately disclosed, where appropriate, in order to provide a clear assessment of the underlying Company results. In addition to IFRS measures, management uses non-IFRS measures in the Company's disclosures that it believes provide the most appropriate basis on which to evaluate the Company's results.

Revenues from customers increased from $18,425,908 in the previous quarter (Q2-2022) to $27,997,816 in the current quarter (Q3-2022). The increase is mainly due to a positive product mix including graphene enhanced product, the acquisition of Canuck, and additional price increase. Despite the increase in revenues from customers, customers continued to be negatively impacted as some of our major customers had to slow down their production cadence due to supply issues (semiconductors among others) while other customers have still not regained their pre-pandemic levels (coach buses and industrial sectors).

Revenues from customers increased from $17,619,603 in the last year quarter (Q3-2021) to $27,997,816 in the current quarter (Q3-2022). This increase is mainly explained by the revenues coming from a positive product mix including graphene enhanced products, the acquisition of Canuck in December 2021, new sales programs, price increases and higher fluctuating tooling revenues.

Other income decreased from $802,133 in the last year quarter (Q3-2021) to $408,934 in the current quarter (Q3-2022). The decrease is explained by the CEWS program set up by the Canadian Federal government to help businesses deal with the COVID-19 pandemic. The Company received $ nil under this program during Q3-2022 compared to $590,510 in Q3-2021 as the program ended in October 2021.

The Adjusted EBITDA improved from -$3,113,136 in the previous quarter (Q2-2022) to -$2,195,119 in the current quarter (Q3-2022). The improvement is mainly coming from a positive product mix and sale price increases which impacted positively the gross margin on total revenues.

Revenues from customers increased from $47,045,864 in the last year period (YTD 2021) to $64,253,741 in the current period (YTD 2022). This increase is mainly explained as follows:

Other income decreased from $4,416,370 in the last year period (YTD 2021) to $1,772,942 in the current period (YTD 2022). The decrease is explained by the CEWS program set up by the Canadian Federal government to help businesses deal with the COVID-19 pandemic. The Company received $840,249 under this program during the current period compared to $3,718,114 in the last year period as the program ended in October 2021.

Additional information about the Company, including the Company's Interim Management Discussion and Analysis for the three and nine-month periods ended March 31, 2022 and 2021 ("MD&A") and the Company's condensed interim consolidated financial statements for the three and nine-month periods ended March 31, 2022 and 2021 (the "interim financial statements") can be found at www.nanoxplore.ca .

The condensed interim consolidated financial statements were prepared using results and financial information determined under IFRS. However, the Company considers certain non-IFRS financial measures as useful additional information in measuring the financial performance and condition of the Company. These measures, which the Company believes are widely used by investors, securities analysts and other interested parties in evaluating the Company's performance, do not have a standardized meaning prescribed by IFRS and therefore may not be comparable to similarly titled measures presented by other publicly traded companies, nor should they be construed as an alternative to financial measures determined in accordance with IFRS. Non-IFRS measures include "Adjusted EBITDA".

NanoXplore will hold a conference call tomorrow, May 17, 2022, at 8:30 am EST to review its third quarter results for fiscal 2022. Soroush Nazarpour, CEO and President of NanoXplore, and Luc Veilleux, Chief Financial Officer, will host the event. The dial-in number for the call is 1-866-696-5894 or 416-340-2217, while the passcode is 4177433#. A replay of this event can be accessed by calling 1-800-408-3053 and entering the passcode 1955519# on your phone. This recording will be available until 11:59 PM on May 23, 2022.

NanoXplore is a graphene company, a manufacturer and supplier of high-volume graphene powder for use in industrial markets. The Company provides standard and custom graphene-enhanced plastic and composite products to various customers in transportation, packaging, electronics, and other industrial sectors. NanoXplore is headquartered in Montreal, Quebec with manufacturing facilities in Canada, the United States and Europe.

This press release contains forward-looking statements and forward-looking information (together, "forward-looking statements") within the meaning of applicable securities laws. All statements, other than statements of historical facts, are forward-looking statements, and subject to risks and uncertainties. All forward-looking statements are based on our beliefs as well as assumptions based on information available at the time the assumption was made and on management's experience and perception of historical trends, current conditions and expected future developments, as well as other factors deemed appropriate in the circumstances. No assurance can be given that these assumptions and expectations will prove to be correct. Forward-looking statements are not facts, but only predications and can generally be identified by the use of statements that include phrases such as "anticipate", "believe", "continue", "could", "estimate", "foresee", "grow", "expect", "plan", "intend", "forecast", "future", "guidance", "may", "predict", "project", "should", "strategy", "target", "will" or similar expressions suggesting future outcomes.

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, including the relevant assumptions and risks factors set out in NanoXplore's most recent annual management discussion and analysis filed on SEDAR at www.sedar.com , which may cause NanoXplore's actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic. Any forward-looking information is made as of the date hereof and, except as required by law, NanoXplore does not undertake any obligation to update or revise any forward–looking statement as a result of new information, subsequent events or otherwise.

Forward-looking statements reflect management's current beliefs, expectations and assumptions and are based on information currently available to management. Readers are cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the future circumstances, outcomes or results anticipated or implied by such forward-looking statements will occur or that plans, intentions or expectations upon which the forward-looking statements are based will occur. By their nature, forward-looking statements involve known and unknown risks and uncertainties and other factors that could cause actual results to differ materially from those contemplated by such statements.

No securities regulatory authority has either approved or disapproved the contents of this press release.

Martin Gagné Director of Investor Relations martin.gagne@nanoxplore.ca Tel: 1 438 476 1927

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NanoXplore Inc. (" NanoXplore " or the " Corporation ") (TSX: GRA and OTCQX: NNXPF) announces that it has entered into a long-term supply agreement with Molding Products LLC to produce and sell graphene-enhanced Sheet Molding Compound ("SMC") called GrapheneBlack™ SMC, used to create high quality, lightweight composite exterior and battery enclosure parts for cars and trucks, such as hoods, bumpers, roofs, and battery packs. GrapheneBlack™ SMC delivers weight reduction of up to 15% vs typical composite parts while also improving surface finish, paintability, and crack resistance. Under the terms of the agreement, both companies can market and sell the new premium grade of SMC under the NanoXplore tradename. Weight reduction is becoming increasingly important for the transportation industry, particularly because electric vehicles are generally heavier than internal combustion engine vehicles and range anxiety could be addressed by reducing the weight of the vehicles. Furthermore, lightweight sheet molding composites are being used increasingly in electric vehicle battery packs that would be complementary to NanoXplore battery related activities.

The agreement with NanoXplore secures a competitive, localized supply of high-quality graphene to produce GrapheneBlack™ SMC as well as R&D support for the development of new graphene-enhanced product grades. NanoXplore is the world's largest manufacturer of sustainable, high-quality, cost-effective graphene with 4,000 metric tons of annual production capacity in Montreal, Canada.

Troy Wade, President of Molding Products, commented:

"This is a great opportunity to advance Molding Products' SMC technology as we look to expand further into the transportation market space. By combining NanoXplore graphene with our own proprietary SMC technology, we can deliver significant weight savings with superior properties for the end-user's application."

Soroush Nazarpour, President and Chief Executive Officer of NanoXplore, commented:

"I am very pleased that our graphene and graphene-enhanced composite products passed the stringent qualification process for the transportation market. The alliance with Molding Products introduces graphene-enhanced composite products into exterior and battery enclosures parts of the passenger vehicle market as well as heavy commercial vehicles and buses. The resulted weight reduction translates into longer range for electric vehicles and can be used in other transportation segments such as trains and planes."

Headquartered in South Bend Indiana, Molding Products LLC, an operating business of IP Corporation, supplies sheet molding composites to the growing compression molding industry with a focus on providing industry-leading, custom-formulated molding compounds for a wide variety of industries and applications.

For further information, please contact:

Martin Gagné Director, Investor Relations Martin.gagne@nanoxplore.ca Tel: 438.476.1342

Todd Cummings Technical Sales Lead tcummings@molding-products.com Tel: 704.402.7114

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NanoXplore Inc. (TSX: GRA and OTCQX: NNXPF) ("NanoXplore") is pleased to hold a conference call to discuss the results of its third quarter ended March 31, 2022, on Tuesday, May 17, 2022, at 8:30 a.m. Eastern Time. The financial results will be released on Monday, May 16, 2022, after the market close.

Details of the Q3 Conference Call

When : May 17, 2022, at 8:30 a.m. Eastern Time

Dial-in number : 1-866-696-5894 (toll free Canada and US) or 416-340-2217 (Toronto area)

Please call 10 minutes prior to the start of the conference call.

There will be a rebroadcast of the call available by dialing 1-800-408-3053 (toll free Canada and US) or 905-694-9451 and enter the participant code 1955519#. The rebroadcast will be available until May 23, 2022.

Nomination of Martin Gagné, Director of Investor Relations

In addition, NanoXplore announced the appointment of Martin Gagné to a newly created position of Director of Investor Relations, effective May 2, 2022. In his role, Martin will oversee all aspects of investor relations activities and will report directly to the CEO and founder Soroush Nazarpour. As Director of Investor Relations, he will be responsible for the development, implementation, and management of a strategic plan for investor relations that will maximize NanoXplore's visibility in the financial community.

Martin brings more than 15 years of experience in the investment industry and holds a CPA and CFA designations. Prior to joining NanoXplore, Martin worked as a senior analyst and Portfolio Manager for asset management firms covering multiple industries in the Canadian and US Equity markets.

Martin Gagné Director of Investor Relations martin.gagne@nanoxplore.ca Tel: 1 438 476 1927

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NanoXplore Inc. (" NanoXplore ") (TSX: GRA and OTCQX: NNXPF) and Solmax Group Inc. (" Solmax ") announce that they entered into a blanket purchase order, result of several years of collaborative work.

The five-year collaboration between the two companies has resulted in a product that is the first of its kind in the environmental infrastructure market. "This cooperation underscores our commitment to delivering growth through forward-looking innovation and collaboration," says Solmax CEO, Jean-Louis Vangeluwe. "Our five-year development collaboration with NanoXplore will allow us to launch a next-generation product based on graphene technology that solves some of our customers' sustainability challenges while also boosting performance."

"Our business relationship with Solmax marks a historical shift in the industrial scale commercialization of sustainable and cost-effective alternatives to carbon black. This agreement underscores the value and viability of graphene in high volume, highly regulated industries," says Soroush Nazarpour, President and CEO of NanoXplore.

This initiative demonstrates Solmax's continued commitment to sustainability. According to Research and Market "Global Geosynthetics Market Report 2021-2026" report, global Geosynthetic market is estimated at US$ 10 billions market in 2021 and expected to reach to more than US$ 13 billions by 2026. According to AMI Consulting's Thermoplastic Masterbatches, The Global Market 2019 Report, total consumption of carbon black in black masterbatches used in Agricultural applications is around 75,000 tons per year which is replaceable by GrapheneBlack™.

Solmax is a geosynthetics pioneer, innovator, and leader. With almost five decades' experience, our GSE and TenCate Geosynthetics acquisitions make us one of the world's largest geosynthetics manufacturer. With plants in North America, Europe, Asia, and the Middle East, our geosynthetics are used in critical applications by significant customers in mining, energy, waste management, construction, agriculture and irrigation, civil engineering, environmental containment, infrastructure, and transport. Our products safeguard the earth from waste and contaminants, and protect investments, helping preserve the integrity and longevity of vital infrastructure in the toughest environments. Our vision is to advance the geosynthetics industry and create products that are accessible everywhere.

Solmax - geosynthetics that support human progress. Visit us at www.solmax.com . Forward-looking Information

Forward-looking information is not a guarantee of future performance and involves a number of risks and uncertainties. Such forward-looking information necessarily involves known and unknown risks and uncertainties, including the relevant assumptions and risks factors set out in NanoXplore's most recent annual management discussion and analysis filed on SEDAR at www.sedar.com, which may cause NanoXplore's actual results to differ materially from any projections of future results expressed or implied by such forward-looking information. These risks, uncertainties and other factors include, among others, the uncertain and unpredictable condition of global economy, notably as a consequence of the Covid-19 pandemic. Any forward-looking information is made as of the date hereof and, except as required by law, NanoXplore does not undertake any obligation to update or revise any forward–looking statement as a result of new information, subsequent events or otherwise.

No securities regulatory authority has either approved or disapproved the contents of this press release.

For further information, please contact:

Soroush Nazarpour President and Chief Executive Officer info@nanoxplore.ca Tel: 514.935.1377

Andreea Sasu Director Corporate Marketing asasu@solmax.com Tel: 514.660.1318

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