Press Release

NKGen Announces Poster Presentation at the 2023 Alzheimer’s Association International Conference

July 10, 2023

SANTA ANA, Calif., July 10, 2023 — NKGen Biotech Inc. (“NKGen”), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK natural killer (“NK”) cell therapies, today announced that it will have a poster presentation at the upcoming Alzheimer’s Association International Conference (“AAIC”) to be held in Amsterdam, Netherlands and online from July 16–20, 2023.

NKGen will present interim Phase I trial data on SNK01 (autologous non-genetically modified NK cells) to treat patients with Alzheimer’s disease. Presentation details are as follows:

Poster Title: Use of Expanded Non-Genetically Modified Natural Killer Cells (SNK01) with Enhanced Cytotoxicity in Patients with Alzheimer’s Disease – Interim Report of a Phase I Trial

Presenting Author: Paul Y. Song, M.D.

Session Type: Poster
Session Title: Drug Development: Human
Session Time: Sunday, July 16, 2023; 8:45 AM – 4:15 PM CEST
Poster Board Number: #72909
Location: Exhibit Hall

Information about the AAIC can be found at: https://aaic.alz.org/.

About NKGen
NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic, and CAR-NK NK cell therapies. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

Forward-Looking Statements
Certain statements made in this press release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The forward-looking statements made in this press release relate only to the events or information as of the date on which the statements are made. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside of NKGen’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These forward-looking statements are based upon NKGen’s current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as a result of various risks and uncertainties. Except as required by law, NKGen undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, after the data on which the statements are made or to reflect the occurrence of unanticipated events.

Internal Contact:
Denise Chua, MBA, CLS, MT (ASCP)
Vice President, Investor Relations and Corporate Communications
949-396-6830
dchua@nkgenbiotech.com

External Contacts:
Chris Calabrese
Managing Director
LifeSci Advisors, LLC
ccalabrese@lifesciadvisors.com

Kevin Gardner
Managing Director
LifeSci Advisors, LLC
kgardner@lifesciadvisors.com

NKGen Biotech Inc. and Graf Acquisition Corp. IV to Co-Host Investor Event

July 6, 2023

SANTA ANA, California, and THE WOODLANDS, Texas, July 6, 2023 — NKGen Biotech Inc. (“NKGen”), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK natural killer (“NK”) cell therapies, and Graf Acquisition Corp. IV (NYSE: GFOR, GFOR.U, GFOR WS) (“Graf”) will co-host an investor event at the Lotte New York Palace Hotel on July 20, 2023 at 10:00 AM ET.

Presentation topics include NKGen’s differentiated intellectual property and approach to NK cell therapy for Alzheimer’s and Parkinson’s diseases, NKGen’s Phase 1 clinical trial data of SNK01 to treat patients with Alzheimer’s disease, preclinical compassionate use case studies, and the proposed business combination transaction between NKGen and Graf.

A live question and answer session will follow the formal presentation. Register to attend in-person or virtually through the link here.

About NKGen Biotech Inc.

NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic, and CAR-NK NK cell therapies. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

About Graf Acquisition Corp. IV

Graf is a blank-check company incorporated as a Delaware corporation and formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.

Important Information and Where to Find It

The proposed business combination between NKGen and Graf will be submitted to stockholders of Graf for their consideration. Graf has filed with the Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4, dated May 15, 2023, as amended on June 26, 2023 (as may be further amended, the “Registration Statement”), relating to the proposed business combination, which includes both a preliminary prospectus with respect to the combined company’s securities to be issued in connection with the proposed business combination and a proxy statement to be distributed to Graf’s stockholders in connection with Graf’s solicitation of proxies for the vote by its stockholders in connection with the proposed business combination and other matters as described in the Registration Statement. Graf urges its investors, stockholders and other interested persons to read the preliminary proxy statement/prospectus and, when available, any amendments thereto and the definitive proxy statement/prospectus, as well as other documents filed by Graf with the SEC, because these documents will contain important information about Graf, NKGen and the proposed business combination. After the Registration Statement is declared effective, Graf will mail the definitive proxy statement/prospectus to its stockholders as of a record date to be established for voting on the proposed business combination. Stockholders may obtain a copy of the Registration Statement, including the preliminary proxy statement/prospectus and, once available, the definitive proxy statement/prospectus, as well as other documents filed with the SEC regarding the proposed business combination and other documents filed by Graf with the SEC, without charge, at the SEC’s website located at www.sec.gov or by directing a request to: Graf Acquisition Corp. IV, 1790 Hughes Landing Blvd., Suite 400, The Woodlands, TX 77380.

Participants in the Solicitation

Graf and NKGen and their respective directors and executive officers may be considered participants in the solicitation of proxies with respect to the proposed business combination under the rules of the SEC. Information about the directors and executive officers of Graf is set forth in the Registration Statement and will be included in the definitive proxy statement/prospectus when available. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of Graf stockholders in connection with the proposed business combination is set forth in the Registration Statement and will be included in the definitive proxy statement/prospectus when available. Stockholders, potential investors and other interested persons should read the proxy statement/prospectus carefully before making any voting or investment decisions. These documents can be obtained free of charge from the sources indicated above.

No Offer or Solicitation

This press release shall not constitute a proxy statement or a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination and shall not constitute an offer to sell or a solicitation of an offer to buy any securities, nor shall there be any sale of securities, in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended, or an exemption therefrom.

Forward-Looking Statements

This press release includes forward-looking statements regarding, among other things, the plans, strategies and prospects, both business and financial, of Graf and NKGen. These statements are based on the beliefs and assumptions of the management of Graf and NKGen. Although Graf and NKGen believe that their respective plans, intentions, and expectations reflected in or suggested by these forward-looking statements are reasonable, neither Graf nor NKGen can assure you that either will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Generally, statements that are not historical facts, including statements concerning possible or assumed future actions, business strategies, events or results of operations, are forward-looking statements. These statements may be preceded by, followed by or include the words “believes,” “estimates,” “anticipates,” “expects,” “projects,” “forecasts,” “outlook,” “future,” “further,” “may,” “will,” “potential,” “should,” “seeks,” “seems,” “targets,” “plans,” “scheduled,” “anticipates,” “intends” or similar expressions. The forward-looking statements are based on projections prepared by, and are the responsibility of, Graf’s or NKGen’s management. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, including changes in domestic and foreign business, market, financial, political and legal conditions, many of which are outside the control of the parties, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors that may affect actual results or outcomes include, among others, the inability of the parties to successfully or timely consummate the proposed business combination; the failure to satisfy the conditions to the consummation of the proposed business combination, including the approval of the merger agreement by Graf’s stockholders, the satisfaction of the minimum cash condition and the receipt of certain governmental and regulatory approvals; the inability to obtain any PIPE investments; the effect of the announcement or pendency of the proposed business combination on NKGen’s business relationships, operating results, and business generally; the risk that the proposed business combination disrupts the current plans and operations of NKGen; NKGen’s lack of products approved for sale and ability to achieve profitability; the risk that preclinical studies and early-stage clinical trials may not be predictive of future results; NKGen’s ability to raise additional funding to complete the development and any commercialization of its product candidates; NKGen’s dependence on its lead product candidates, SNK01 and SNK02; the complexity of the manufacturing process for NK cell therapies; the risk that regulatory approvals for NKGen’s product development are not obtained, are delayed or are subject to unanticipated conditions that could adversely affect the post-business combination entity (“New NKGen”) or the expected benefits of the proposed business combination; NKGen’s ability to manage future growth; NKGen’s ability to manage clinical trials or studies, including any compassionate use programs and product pipeline; the dependence on the success of NKGen’s SNK NK cell technology platform; New NKGen’s ability to meet the listing standards of the New York Stock Exchange, NYSE American or, Nasdaq Stock Market; the amount of redemption requests made by Graf’s public stockholders; the complexity of numerous regulatory and legal requirements that NKGen needs to comply with to operate its business; the failure to obtain, adequately protect, maintain or enforce NKGen’s intellectual property rights; the ability of Graf or New NKGen to issue equity or equity-linked securities in connection with the proposed business combination or in the future; the concentrated ownership of New NKGen common stock among NKGen’s existing executive officers, directors and principal stockholders; and those factors discussed under the heading “Risk Factors” in the Registration Statement and other documents of Graf filed, or to be filed, with the SEC. New risk factors emerge from time to time and it is not possible to predict all such risk factors, nor can Graf or NKGen assess the impact of all such risk factors on the businesses of Graf and NKGen prior to the proposed business combination, and the combined company following the proposed business combination, or the extent to which any factor or combination of factors may cause actual results to differ materially from those contained in any forward-looking statements. Forward-looking statements are not guarantees of performance. You should not put undue reliance on these statements, which speak only as of the date hereof. All forward-looking statements attributable to Graf or NKGen or persons acting on their behalf are expressly qualified in their entirety by the foregoing cautionary statements. Graf and NKGen prior to the proposed business combination, and the combined company following the proposed business combination, undertake no obligations to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Internal Contacts:

Denise Chua, MBA, CLS, MT (ASCP)

Vice President, Investor Relations and Corporate Communications

949-396-6830

dchua@nkgenbiotech.com

Sabrina McKee

Chief Financial Officer and EVP, Strategy

Graf Acquisition Corp. IV

sabrina@grafacq.com

External Contacts:

Chris Calabrese

Managing Director

LifeSci Advisors, LLC

ccalabrese@lifesciadvisors.com

Kevin Gardner

Managing Director

LifeSci Advisors, LLC

kgardner@lifesciadvisors.com

NKGen Biotech to Present at the 2nd International Alzheimer’s Disease & Dementia Conference 2023

June 13, 2023

SANTA ANA, Calif., June 13, 2023 — NKGen Biotech Inc. (“NKGen”), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK Natural Killer (“NK”) cell therapeutics, today announced that they have been invited to give an oral presentation at the 2^nd International Alzheimer’s Disease & Dementia Conference 2023 to be held virtually and in-person in Rome, Italy, from June 16–17, 2023.

Oral Presentation Details:

Date: June 16^th, 2023

Time: 12:40-13:00 CEST (UTC +2)

Location: Mercure Roma West Viale Eroi di Cefalonia, 301, 00128 Roma RM, Italy

The presentation entitled, “Use of highly enhanced autologous natural killer cells for advanced Alzheimer’s disease”, will be presented by Paul Y. Song, M.D., Chief Executive Officer of NKGen. Dr. Song will focus the presentation on how chronic protein deposition elicits a neuroinflammatory cascade and damage, the potential role of NK cells in reducing proteins as well as neuroinflammation, and discussion of several case studies with preliminary biomarker data.

About NKGen Biotech

NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic, and CAR-NK NK cell therapeutics. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These forward-looking statements are based upon our current expectations and involve assumptions that may never materialize or may prove to be incorrect. Actual results could differ materially from those anticipated in such forward-looking statements as result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with our business and operations in general, our limited operating history, our lack of products approved for sale and ability to achieve profitability, the risks that preclinical studies and early-stage clinical trials may not be predictive of future results, our ability to manage clinical trials successfully, our ability to raise additional funding to complete the development and any commercialization of our product candidates, our dependence on our lead product candidates, SNK01 and SNK02, and the complexity of the manufacturing process for natural killer cell therapies. All forward-looking statements speak only as of the date on which they were made. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after any data on which the statements are made or to reflect the occurrence of unanticipated events.

Internal Contact:

Denise Chua, MBA, CLS, MT (ASCP)

Vice President, Investor Relations and Corporate Communications

949-396-6830

dchua@nkgenbiotech.com

External Contacts:

Chris Calabrese

Managing Director

LifeSci Advisors, LLC

ccalabrese@lifesciadvisors.com

Kevin Gardner

Managing Director

LifeSci Advisors, LLC

kgardner@lifesciadvisors.com

NKGen Biotech Announces SNK01 Preclinical and Phase I/IIa Clinical Data Presented at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting

June 5, 2023

SANTA ANA, Calif., June 5, 2023 — NKGen Biotech Inc. (NKGen), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK Natural Killer (NK) cell therapeutics, today announced a poster presentation of preclinical and Phase I/IIa clinical data by its parent company, NKMax Co., Ltd. (NKMax). The poster titled “The safety and efficacy of SNK01 (autologous natural killer cells) in combination with cytotoxic chemotherapy after failure of prior tyrosine kinase inhibitor in non-small cell lung cancer: Preclinical mouse model and phase I/IIa clinical study” was presented on June 4^th at the 2023 ASCO Annual Meeting.

“The SNK01 program continues to show positive progress, with the most recent preclinical and Phase I/IIa clinical data presented at ASCO,” said Paul Y. Song, M.D., Chief Executive Officer of NKGen. “Lung adenocarcinoma accounts for nearly 40% of all non-small cell lung cancers (NSCLC) and represents the fastest growing subtype of lung cancer worldwide, especially among non-smoking women. Approximately 15-25% of lung cancer patients diagnosed in the U.S., and up to 50% of patients in Asia, will have an EGFR-positive mutation. While Tyrosine Kinase Inhibitors (TKIs) have shown tremendous efficacy in the front-line setting, salvage regimens have proven to be far less effective in TKI resistant disease. No SNK01-related adverse event of Grade 3 or higher was observed when autologous natural killer cells (SNK01) were delivered in combination with cytotoxic chemotherapy, including cetuximab. The data also demonstrated antitumor activity in both a cell-derived TKI resistant xenograft (CDX) mouse model and in patients with EGFR-mutated non-small cell lung cancer who failed prior TKI treatment. The results of this study are promising and warrant further evaluation. We are excited about the potential therapeutic benefits of SNK01, particularly in this growing population of refractory patients with difficult-to-treat cancers.”

In the preclinical study, a humanized CDX mouse model with functional human immune system using an osimertinib-resistant lung cancer cell line was established. Mice were divided into four groups based on treatment (no treatment [n=2]; cetuximab monotherapy [n=3]; SNK01 monotherapy [n=4]; SNK01 in combination with cetuximab [n=4]) and treated weekly for five weeks (SNK01, 1×10⁷cells/dose; cetuximab, 20 ug/dose). Tumors were tracked weekly through an in vivo imaging system and extracted after completion of treatment. Flow cytometric analysis showed that NK cells (CD45+/CD56+/CD3-) were significantly increased in the groups administrated SNK01, while cytotoxic T cells (CD45+/CD3+/CD8+) in the cetuximab group decreased. The volume of tumor extracted after completion of treatment was the smallest in SNK01 plus cetuximab group.

In the Phase I/IIa dose-escalation clinical trial (ClinicalTrials.gov Identifier: NCT04872634), 12 patients with EGFR-mutated NSCLC who failed prior TKI treatment were enrolled and received weekly infusions of SNK01 for seven or eight weeks (4×10⁹ cells/dose [n=6]); or 6×10⁹ cells/dose [n=6]), SNK01 combination with gemcitabine/carboplatin (n=6) or gemcitabine/carboplatin/cetuximab (n=6). This trial was designed as dose-escalation of SNK01 following a “3+3” design. The primary and secondary endpoints were safety and efficacy, respectively. Median age of patients was 61 years, 33.3% were male, and all patients had lung adenocarcinoma. Dose-limiting toxicity was not observed, therefore the maximum tolerated dose of SNK01 was determined to be 6×10⁹ cells/dose. No SNK01-related adverse events of Grade 3 or higher were observed. The objective response rate was 25% (3/12), disease control rate (DCR) was 100%, with 3/12 patients experiencing a partial response (25%) and 9/12 with stable disease (75%). Median progression free survival (PFS) was 143 days. Some patients are still being followed and an updated PFS will be provided at a later date.

About NKGen Biotech

NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic, and CAR-NK Natural Killer (NK) cell therapeutics. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside our control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. These forward-looking statements are based upon our current expectations and involve assumptions that may never materialize or may prove to be incorrect. actual Results could differ materially from those anticipated in such forward-looking statements as result of various risks and uncertainties, which include, without limitation, risks and uncertainties associated with our business and operations in general, our limited operating history, our lack of products approved for sale and ability to achieve profitability, the risks that preclinical studies and early-stage clinical trials may not be predictive of future results, our ability to manage clinical trials successfully, our ability to raise additional funding to complete the development and any commercialization of our product candidates, our dependence on our lead product candidates, SNK01 and SNK02, and the complexity of the manufacturing process for natural killer cell therapies. All forward-looking statement speak only as of the date on which they were made. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the data on which the statements are made or to reflect the occurrence of unanticipated events.

Internal Contact:

Denise Chua, MBA, CLS, MT (ASCP)

Vice President, Investor Relations and Corporate Communications

949-396-6830

dchua@nkgenbiotech.com

External Contacts:

Chris Calabrese

Managing Director

LifeSci Advisors, LLC

ccalabrese@lifesciadvisors.com

Kevin Gardner

Managing Director

LifeSci Advisors, LLC

kgardner@lifesciadvisors.com

NKGen Announces Poster Presentation at the 2023 American Society of Clinical Oncology (ASCO) Annual Meeting

May 25, 2023

SANTA ANA, Calif., May 25, 2023 (GLOBE NEWSWIRE) — NKGen Biotech Inc. (“NKGen”), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK natural killer cell therapeutics, today announced an upcoming poster presentation by its parent company, NKMax Co., Ltd., on preclinical and clinical data from a Phase I/IIa study of SNK01 in combination with cytotoxic chemotherapy in non-small cell lung cancer, at the American Society of Clinical Oncology (ASCO) Annual Meeting to be held at the McCormick Place Convention Center in Chicago, Illinois from June 2-6, 2023.

Presentation Details:

Title: The safety and efficacy of SNK01 (autologous natural killer cells) in combination with cytotoxic chemotherapy after failure of prior tyrosine kinase inhibitor in non-small cell lung cancer: Preclinical mouse model and phase I/IIa clinical study

Authors: Myeong Geun Choi, Gun Woo Son, Dae-Hyun Ko, Wonjun Ji, Jin Kyung Rho, Jae Cheol Lee, Yong Man Kim, Jae Seob Jung, Paul Y. Song, Byeong Gon Yoon, Jong-min Jo, Mi Young Choi, Chang-Min Choi

Abstract Number: 9057

Session Type: Poster

Session Title: Lung Cancer – Non-Small Cell Metastatic

Poster Board Number: 45

Session Time: Sunday, June 4, 2023; 8:00 a.m. – 11:00 am CT

Location: Hall A

Full abstracts will be released at 5:00 pm ET on Thursday, May 25, 2023. Visit the 2023 ASCO Annual Meeting website at https://meetings.asco.org/ for more information.

About NKGen Biotech
NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic, and CAR-NK Natural Killer (NK) cell therapeutics. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

Internal Contact:
Denise Chua, MBA, CLS, MT (ASCP)
Vice President, Investor Relations and Corporate Communications
949-396-6830
dchua@nkgenbiotech.com

External Contacts:
Chris Calabrese
Managing Director
LifeSci Advisors, LLC
ccalabrese@lifesciadvisors.com

Kevin Gardner
Managing Director
LifeSci Advisors, LLC
kgardner@lifesciadvisors.com

NKGen Biotech to Present at the American Society of Gene and Cell Therapy (ASGCT) 26th Annual Meeting

May 2, 2023

SANTA ANA, Calif., May 2, 2023 – NKGen Biotech Inc. (“NKGen”), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK Natural Killer (“NK”) cell therapeutics, today announced an upcoming presentation on its NK cell therapy (SNK01) at the American Society of Gene and Cell Therapy (ASGCT) 26^th Annual Meeting, which will take place in Los Angeles, California from May 16 – 20, 2023.

Presentation Details

Presentation Title: SNK01 Autologous Enhanced Natural Killer Cells and an Immune Checkpoint Inhibitor Control Tumor Growth in Rare Chemotherapy-Resistant Advanced Soft Tissue Sarcomas

Presenting Author: Erlinda M. Gordon, M.D.

Session Type: Poster Presentation

Date & Time: Thursday, May 18, 2023; 12:00 p.m. – 2:00 p.m. PT

Abstract Number: 1136

Dr. Gordon will present data from three rare cases of chemotherapy-resistant advanced soft tissue sarcomas (STS) which achieved durable partial responses and disease control with SNK01 plus an immune checkpoint inhibitor. NKGen believes the data from these three cases support the potential combination of SNK01 and an immune checkpoint inhibitor in controlling tumor growth with manageable toxicity.

Full abstracts are available on the ASGCT conference website https://annualmeeting.asgct.org/

About NKGen Biotech

NKGen is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic, and CAR-NK Natural Killer (NK) cell therapeutics. NKGen is headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

Forward-Looking Statements

The forward-looking statements made in this press release relate only to the events or information as of the date on which the statements are made in this article. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the data on which the statements are made or to reflect the occurrence of unanticipated events. You should read this press release completely and with the understanding that our actual future results or performance may be materially different from what we expect. In this press release, statements of, or references to, our intentions and expectations or those of Dr. Erlinda M. Gordon are made as of the date of this article. Any of these intentions and expectations may alter in light of future development.

Contact

Denise Chua, MBA, CLS, MT (ASCP)
Vice President, Investor Relations and Corporate Communications
949-396-6830
dchua@nkgenbiotech.com

NKGen Biotech, Inc. to Become Publicly Traded Company via Business Combination with Graf Acquisition Corp. IV

April 14, 2023

NKGen Biotech, Inc. (“NKGen”), a clinical stage Natural Killer (NK) cell therapy company, has entered into a merger agreement with Graf Acquisition Corp. IV
NKGen Biotech, Inc.’s non-genetically modified, enhanced and expanded NK cells have the potential to be a possible treatment for Alzheimer’s and Parkinson’s diseases and other neurodegenerative and oncological diseases
NKGen is expected to have a pro forma enterprise value of at least $160 million, based on $145 million in pre-money equity value plus conversion to equity at closing of at least $15 million of outstanding private convertible securities and accrued interest
Initial Phase I trial data expected to be presented at the American Society of Clinical Oncology Annual Meeting in June 2023 and the Alzheimer’s Association International Conference in July 2023
As a closing condition to the business combination, at least $50 million in net proceeds are required, including up to $25 million backstop commitment from NKGen Biotech’s majority stockholder, which proceeds are expected to be used toward the funding of NKGen Biotech, Inc.’s Phase II trials and operations through Q2 2025
Anticipated closing of business combination in Q3 2023

SANTA ANA, Calif., and THE WOODLANDS, Texas, April 14, 2023 — NKGen Biotech, Inc. (“NKGen”), a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK Natural Killer (“NK”) cell therapeutics, and Graf Acquisition Corp. IV (NYSE: GFOR, GFOR.U, GFOR WS) (“Graf”), a New York Stock Exchange-listed special purpose acquisition company founded by serial SPAC founder James Graf, along with Sabrina McKee and Tony Kuznik, announced today that they have entered into a definitive agreement (the “Merger Agreement”) for a business combination(the “Business Combination”). Upon the closing of the Business Combination, Graf will be renamed “NKGen Biotech, Inc.” and is expected to be listed on the New York Stock Exchange, NYSE American or Nasdaq under the ticker symbol “NKGN”.

Using cell expansion and activation technology and cell therapy manufacturing expertise, NKGen believes it can ultimately expand natural killer cells at commercial scale while significantly enhancing cytotoxicity. NKGen’s lead product candidate, SNK01, is currently in a Phase 1 clinical trial in Mexico for the treatment of advanced Alzheimer’s disease and two Phase 1/2 trials in the United States for advanced refractory solid tumors as a monotherapy and in combination with other agents including checkpoint inhibitors and cell engagers. On October 17, 2022, NKGen’s Investigational New Drug Application for SNK02, an allogeneic cell therapy, received U.S. FDA clearance for initiation of clinical trials in refractory solid tumors.

NKGen, which is based in Santa Ana, CA, has been funded since its inception in 2017 primarily by its majority stockholder, NKMax Co., Ltd. (“NKMax”), a public company based in Korea led by its Chairman and CEO Sangwoo Park, who is also the Chairman of NKGen. NKMax funds and conducts much of the R&D activities supporting the intellectual property exclusively licensed by NKGen for all markets outside of Asia, including the United States and Europe. NKGen is led by CEO Paul Y. Song, M.D., who was the first employee of NKGen in 2017. NKGen has a 25,000 sq. ft. wholly-owned and commercially licensed cGMP facility in Santa Ana, CA.

Management Commentary

Paul Y. Song, M.D. CEO of NKGen, said, “The team at Graf fully understands and appreciates our novel NK cell therapy platform technology and our overall mission to help patients in real clinical need, especially those with neurodegenerative diseases. We believe that the Business Combination represents a key step in our overall growth strategy. We believe having access to the public markets will help enable us to fund our clinical development in advanced neurodegenerative diseases and support the launch of our off-the-shelf allogenic program in oncology”, commented Dr. Song. “We are looking forward to highlighting our technology and the many key roles NK cells play in human health, and we expect to demonstrate how our portfolio of autologous (SNK01), allogeneic (SNK02) and CAR-NK products may be used not only for cancer, but for neurodegenerative and autoimmune diseases as well.”

James Graf, CEO of Graf, said, “We are excited to partner with Sangwoo, Paul and the whole NKGen team to help realize their long-term potential. Graf has looked at numerous potential biotech companies and after reviewing NKGen’s science, differentiated manufacturing and cryopreservation technology, NKGen really stood out to our team. But what really resonated for us is NKGen’s commitment to developing treatments addressing unmet areas of neurodegenerative diseases.”

Sangwoo Park, Founder and Executive Chairman of NKGen and Chairman and CEO of NKMax, added: “We are excited to take this next step in bringing potentially innovative treatments to patients who currently have limited options. The guiding force behind our company has always been focused on improving the lives of patients. The passion and commitment of the NKGen team to help realize this mission is the backbone of our company.” Mr. Park further commented, “The Business Combination with Graf is an important step in our long-term strategy to become a leader in NK cell therapies. We expect that the combined business will potentially provide much needed capital to fund our clinical trials in neurodegenerative disease and cancer.”

Transaction Overview

Pursuant to the Business Combination, NKGen is expected to have a pro forma enterprise value of at least $160 million, based on $145 million in pre-money equity value plus conversion to equity at closing of at least $15 million of outstanding private convertible securities and accrued interest. Graf and NKGen will pursue new PIPE funding prior to the closing of the Business Combination and NKMax will backstop up to $25 million cash funded at $10.00 per share pursuant to a backstop agreement. The Business Combination contemplates a minimum of $50 million of net transaction cash proceeds (the “Minimum Cash Condition”), which proceeds are expected to be used toward the funding of the combined company’s business and Phase II trials and operations through Q2 2025.

The Business Combination has been approved by the boards of directors of both NKGen and Graf, and by NKMax, and is expected to close in the Q3 2023. The closing is subject to approval by Graf stockholders and satisfaction or waiver of other customary closing conditions, including satisfying the Minimum Cash Condition, approval for listing of the shares of the combined company approved on the New York Stock Exchange, NYSE American or Nasdaq Stock Market, as mutually determined by Graf and NKGen.

Additional information about the proposed merger, including a copy of the Merger Agreement, will be provided in a Current Report on Form 8-K to be filed by Graf with the Securities and Exchange Commission (“SEC”) and available at www.sec.gov.

Advisors

Cooley LLP is acting as legal advisor to NKGen and NKMax. White & Case LLP is acting as legal advisor to Graf.

About Graf Acquisition Corp. IV

Graf Acquisition Corp. (NYSE: GFOR, GFOR.U, GFOR WS) is a blank-check company incorporated as a Delaware corporation and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

About NKGen Biotech, Inc.

NKGen Biotech, Inc. is a clinical-stage biotechnology company incorporated as a Delaware corporation and focused on the development and commercialization of innovative autologous, allogeneic and CAR-NK Natural Killer (NK) cell therapeutics. The company is headquartered in Santa Ana, CA.

Changes and Additional Information About the Business Combination and the Extension and Where to Find It

This communication is not intended to be, and is not, a substitute for the proxy statement or any other document that Graf has filed or may file with the SEC in connection with the proposed Business Combination. The information in this press release has not been reviewed by the SEC and certain information may not comply in certain respects with SEC rules.

Graf has filed a preliminary proxy statement on April 10, 2023 and intends to file a definitive proxy statement, when available, with the SEC, to be used at its special meeting (the “Special Meeting”) of stockholders to approve an extension of time in which Graf must complete an initial business combination or liquidate the Trust Account that holds the proceeds of Graf’s initial public offering from May 25, 2023 to September 29, 2023 (the “Extension”). Graf’s stockholders and other interested persons are advised to read, when the preliminary proxy statement and, when available, the definitive proxy statement relating to the Extension, as these materials will contain important information about the Extension, NKGen, Graf and the Business Combination. The definitive proxy statement and other relevant materials for the Extension will be mailed to stockholders of Graf as of a record date to be established for voting on the Extension.

In addition, if the Extension is approved at the Special Meeting, Graf intends to file a registration statement on Form S-4 (the “Registration Statement”) that will include a proxy statement/prospectus of Graf, that will be both the proxy statement to be distributed to holders of Graf’s common stock in connection with its solicitation of proxies for the vote by Graf’s stockholders with respect to the proposed Business Combination and other matters as may be described in the Registration Statement, as well as the prospectus relating to the offer and sale of the securities to be issued in the proposed Business Combination. The Registration Statement is not yet effective. The Registration Statement, including the proxy statement/prospectus contained therein, when it is declared effective by the SEC, will contain important information about the proposed Business Combination and the other matters to be voted upon at a meeting of Graf’s stockholders to be held to approve the proposed Business Combination and other matters (the “Business Combination Special Meeting”). Graf may also file other documents with the SEC regarding the proposed Business Combination. Graf stockholders and other interested persons are advised to read, when available, the Registration Statement, including the proxy statement/prospectus contained therein, as well as any amendments or supplements thereto, because they will contain important information about the proposed Business Combination. When available, the definitive proxy statement/prospectus will be mailed to Graf stockholders as of a record date to be established for voting on the proposed Business Combination and the other matters to be voted upon at the Business Combination Special Meeting.

Graf’s stockholders may obtain copies of the aforementioned documents and other documents filed by Graf with the SEC, without charge, once available, at the SEC’s web site at www.sec.gov, or by directing a request to: Graf Acquisition Corp. IV, 1790 Hughes Landing Blvd., Suite 400, The Woodlands, TX, Attention: Anthony A. Kuznik, EVP & General Counsel or tony@grafacq.com.

Participants in the Solicitation

Graf and its directors and executive officers may be deemed to be participants in the solicitation of proxies from Graf’s stockholders with respect to the Extension. Information regarding the persons who may be deemed participants in the solicitation of proxies from Graf’s stockholders in connection with the Extension is contained in the preliminary proxy statement and, when available, the definitive proxy statement relating to the Extension, which are or will be filed with the SEC.

In addition, Graf, NKGen, and their respective directors, executive officers and other members of management and employees may be deemed to be participants in the solicitation of proxies from Graf’s stockholders with respect to the Business Combination. Information regarding the persons who may be deemed participants in the solicitation of proxies from Graf’s stockholders in connection with the Business Combination will be contained in the proxy statement/prospectus forming a part of the Registration Statement Registration Statement and the definitive proxy statement/prospectus relating to the Business Combination, when available, which will be filed with the SEC.

Investors and security holders may obtain more detailed information regarding the names of Graf’s directors and officers and their interests in Graf in Graf’s filings with the SEC, including Graf’s Annual Report on Form 10-K for the year ended December 31, 2022, which was filed with the SEC on March 31, 2023 (the “2022 Form 10-K”). Investors and security holders of Graf and NKGen are urged to carefully read the aforementioned documents and other relevant documents that Graf will file with the SEC in connection with the Extension and the Business Combination, when they become available, because they will contain important information about the Extension and the proposed Business Combination.

INVESTMENT IN ANY SECURITIES DESCRIBED HEREIN HAS NOT BEEN APPROVED OR DISAPPROVED BY THE SEC OR ANY OTHER REGULATORY AUTHORITY NOR HAS ANY AUTHORITY PASSED UPON OR ENDORSED THE MERITS OF THE OFFERING THEREOF OR THE ACCURACY OR ADEQUACY OF THE INFORMATION CONTAINED HEREIN. ANY REPRESENTATION TO THE CONTRARY IS A CRIMINAL OFFENSE.

Forward Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” ‘believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. All statements, other than statements of present or historical fact included in this press release, regarding the proposed Business Combination between Graf and NKGen, the Extension, NKGen’s or Graf’s ability to consummate the proposed Business Combination, the benefits of the proposed Business Combination and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated net proceeds from the Business Combination, ability of NKGen to fund its Phase II trials through 2025 with net proceeds from the Business Combination, ability to obtain any PIPE investments, expectations regarding NKGen’s product candidates and clinical trials, including the timing of initiation of clinical trials, NKGen’s ability to ultimately expand natural killer cells at commercial scale while significantly enhancing cytotoxicity, expectations regarding the launch of NKGen’s off-the-shelf allogenic program in oncology, market position and ability to become a leader in NK cell therapies and objectives of management are forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside NKGen’s or Graf’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the risk that Graf’s stockholders do not approve the Extension at the Special Meeting and any subsequent extensions of the date by which Graf has to complete an initial business combination deadline if sought by Graf; the risk that, following approval of the Extension, the Business Combination is not completed in a timely manner in accordance with the extended outside date Graf has to complete an initial business combination under its amended and restated certificate of incorporation; the failure to satisfy the conditions to the consummation of the Business Combination, including the approval of the Merger Agreement by Graf’s stockholders, the satisfaction of the minimum cash condition and the receipt of certain governmental and regulatory approvals; the inability to obtain any PIPE investments; the effect of the announcement or pendency of the Business Combination on NKGen’s business relationships, operating results, and business generally; risks that the proposed Business Combination disrupts the current plans and operations of NKGen; the inability to recognize the anticipated benefits of the proposed Business Combination; the inability to meet the listing standards of the NYSE or Nasdaq, as applicable; costs related to the Business Combination; NKGen’s ability to manage clinical trials or studies, including any compassionate use programs; the dependence on the success of NKGen’s SNK natural killer cell technology platform; the risks related to the need for substantial additional funding to support NKGen’s operations and pursue its growth strategy; the complexity of numerous regulatory and legal requirements that NKGen needs to comply with; the failure to obtain regulatory approval for NKGen’s product candidates; the impact of global pandemics; the outcome of any legal proceedings that may exist or be instituted against NKGen or against Graf related to the proposed Business Combination, including uncertainties related to potential litigation involving Graf or NKGen; the amount of redemption requests made by Graf’s public stockholders; the failure to obtain, adequately protect, maintain or enforce NKGen’s intellectual property rights; the ability of Graf or the combined company to issue equity or equity-linked securities in connection with the proposed Business Combination or in the future; the costs associated with the combined company operating as a public company; the lack of active trading market for the combined company’s common stock; the concentrated ownership of the combined company common stock among NKGen’s existing executive officers, directors and principal stockholders; and those factors discussed in Graf’s Annual Report on Form 10-K for the year ended December 31, 2022, under the heading “Risk Factors,” and other documents filed, or to be filed, by Graf with the SEC. If any of these risks materialize or the assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that neither Graf nor NKGen presently know, or that Graf or NKGen currently believe are immaterial, that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Graf’s and NKGen’s expectations, plans, or forecasts of future events and views as of the date of this press release. Graf and NKGen anticipate that subsequent events and developments will cause Graf’s and NKGen’s assessments to change. However, while Graf and NKGen may elect to update these forward-looking statements at some point in the future, Graf and NKGen specifically disclaim any obligation to do so. These forward-looking statements should not be relied upon as representing Graf’s and NKGen’s assessments of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

No Offer or Solicitation

This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall neither constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which the offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Contact information

NKGen Biotech

Denise Chua

dchua@nkgenbiotech.com

Graf Acquisition Corp. IV

Sabrina McKee

sabrina@grafacq.com

Graf Acquisition Corp. IV and NKGen Biotech, Inc. Announce Letter of Intent for a Business Combination

March 23, 2023

THE WOODLANDS, Texas & SANTA ANA, Calif.–(BUSINESS WIRE)–Graf Acquisition Corp. IV (NYSE: GFOR) (“Graf”), a NYSE-listed special purpose acquisition company founded by serial SPAC founder James Graf, and NKGen Biotech, Inc. (“NKGen Biotech”), a biotechnology company focused on harnessing the power of the body’s immune system through the development of natural killer cell therapies, announced today that they have signed a non-binding letter of intent (the “LOI”) to pursue a business combination.

Based in Santa Ana, CA, NKGen Biotech was established in 2017 and is focused on natural killer cell therapies for the treatment of patients in areas such as neurodegenerative disease (e.g., Alzheimer’s and Parkinson’s) and oncology. NKGen Biotech is currently led by CEO Paul Y. Song, M.D., and Executive Chairman Sangwoo Park.

Graf expects to announce additional details regarding the proposed business combination when a definitive merger agreement is executed.

Completion of a business combination between Graf and NKGen Biotech is subject to, among other things, the completion of due diligence, the negotiation of a definitive agreement providing for the transaction, the satisfaction of the conditions negotiated therein, and approval of the transaction by the board and shareholders of both Graf and NKGen Biotech. There can be no assurance that a definitive agreement will be entered into or that the proposed business combination will be consummated on the terms or timeframe currently contemplated, or at all.

About NKGen Biotech, Inc.

NKGen Biotech, Inc. is a clinical-stage biotechnology company incorporated as a Delaware corporation and focused on the development and commercialization of innovative autologous, allogeneic, and CAR-NK Natural Killer (NK) cell therapeutics. The company is headquartered in Santa Ana, CA.

About Graf Acquisition Corp. IV

Graf Acquisition Corp. (NYSE: GFOR) is a blank-check company incorporated as a Delaware corporation and formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses.

Important Information and Where to Find It

If a legally binding definitive agreement with respect to the proposed business combination is executed, Graf intends to file with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement, which will include a preliminary proxy statement/prospectus (a “Proxy Statement/Prospectus”). A definitive Proxy Statement/Prospectus will be mailed to Graf’s stockholders as of a record date to be established for voting on the proposed business combination. Stockholders will also be able to obtain copies of the Proxy Statement/Prospectus, without charge, at the SEC’s website at www.sec.gov or by directing a request to: Graf Acquisition Corp. IV, 1790 Hughes Landing Boulevard, Suite 400, The Woodlands, TX 77380.

This communication may be deemed to be offering or solicitation material in respect of the proposed business combination, which will be submitted to the stockholders of Graf for their consideration. Graf urges investors, stockholders and other interested persons to carefully read, when available, the preliminary and definitive Proxy Statement/Prospectus as well as other documents filed with the SEC (including any amendments or supplements to the Proxy Statement/Prospectus, as applicable), in each case, before making any investment or voting decision with respect to the proposed business combination, because these documents will contain important information about Graf, NKGen Biotech and the proposed business combination.

Participants in the Solicitation

Graf and NKGen Biotech and each of their directors and executive officers may be considered participants in the solicitation of proxies with respect to the proposed business combination described herein under the rules of the SEC. Information about the directors and executive officers of Graf and a description of their interests in Graf and the proposed business combination are set forth in Graf’s Annual Report on Form 10-K for the year ended December 31, 2021, which was filed with the SEC on March 31, 2022 (the “Annual Report”) and will be set forth in the Proxy Statement/Prospectus, when it is filed with the SEC. Information about NKGen Biotech’s directors and executive officers and a description of their interests in NKGen Biotech and the proposed business combination will be set forth in the Proxy Statement/Prospectus, when it is filed with the SEC. These documents can be obtained free of charge from the sources indicated above.

No Offer or Solicitation

This release shall not constitute a solicitation of a proxy, consent, or authorization with respect to any securities or in respect of any business combination. This release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.

Forward-Looking Statements

Certain statements made in this release are “forward looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this release, the words “estimates,” “projected,” “expects,” “anticipates,” “forecasts,” “plans,” “intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,” “propose” and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside Graf’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include: the ability of Graf to enter into a definitive agreement with respect to a business combination with NKGen Biotech within the time provided in Graf’s amended and restated certificate of incorporation; Graf’s ability to obtain an extension of the business combination deadline provided for in Graf’s amended and restated certificate of incorporation; Graf’s ability to obtain the financing necessary to consummate the potential transaction; the performance of NKGen Biotech’s business; the timing, success and cost of NKGen Biotech’s product development activities and clinical trials; the risk that Graf’s stockholder approval is not obtained; failure to realize the anticipated benefits of the proposed business combination, including as a result of a delay in consummating the proposed business combination; the amount of redemption requests made by Graf’s stockholders and the amount of funds remaining in Graf’s trust account after satisfaction of such requests; Graf’s and NKGen Biotech’s ability to satisfy the conditions to closing the proposed business combination; and those factors discussed in the Annual Report under the heading “Risk Factors,” and other documents of Graf filed, or to be filed, with the SEC. Graf does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Contacts:

Sabrina McKee
EVP Strategy and Director, Graf Acquisition Corp. IV
917-848-4902
sabrina@grafacq.com

Denise Chua, MBA, CLS, MT (ASCP)
Vice President, Investor Relations and Corporate Communications
949-396-6830
dchua@nkgenbiotech.com

NKGen Biotech Announces Formation of Scientific Advisory Board to Drive its Pipeline Strategy for Natural Killer Cell Therapies Targeting Neurodegenerative Diseases

March 8, 2023

SANTA ANA, Calif., March 8, 2023 — NKGen Biotech, a biotechnology company harnessing the power of the body’s immune system through the development of natural killer (NK) cell therapies, today announced the formation of its Scientific Advisory Board (SAB) comprised of scientific and clinical experts with deep expertise in neurodegenerative diseases. The newly formed SAB will provide strategic, scientific, and clinical guidance as the Company progresses its pipeline of innovative natural killer cell therapies targeting neurodegenerative diseases such as Alzheimer’s and Parkinson’s disease.

“We are honored to welcome such esteemed experts in the field of neurological disease to our Scientific Advisory Board,” commented Paul Y. Song, M.D., NKGen Biotech CEO. “Each brings their own respective scientific and clinical expertise in key areas including Alzheimer’s, Parkinson’s, Multiple Sclerosis, and neuroinflammation. Their immediate input will be invaluable as we look to optimize and initiate U.S. trials in Alzheimer’s and Parkinson’s later this year. Their deep expertise can better inform and advise us as we eventually explore other neurodegenerative indications as well.”

NKGen Biotech Scientific Advisory Board members:

Craig Blackstone, M.D., Ph.D. – Dr. Blackstone is the Chief of the Movement Disorders Division at the Massachusetts General Hospital and Professor of Neurology at Harvard Medical School. Previously he was Senior Investigator and Cell Biology Section Chief within the National Institute of Neurological Disorders (NINDS) Neurogenetics Branch of the National Institutes of Health (NIH). Dr. Blackstone is a distinguished investigator focusing his research on investigating the cellular pathogenesis of neurogenetic disorders.

Ming Guo, M.D., Ph.D. – Dr. Guo is the Laurie & Stephen C. Gordon Chair in Neurosciences, UCLA Professor of Neurology, Molecular and Medical Pharmacology. Dr. Guo is a renowned investigator in neurological disorders, with an emphasis on neurodegenerative diseases including Alzheimer’s and Parkinson’s disease.

Anthony Reder, M.D. – Dr. Reder is a Professor of Neurology at the University of Chicago Medical Center directing the Neurology and Inflammatory Disease Infusion Center. He is an internationally recognized expert in neuroimmunology with primary expertise in the clinical and molecular intersection between inflammation and brain damage and as well as how the immune system may protect and repair the damaged brain. He has been a clinical leader in the development of many approved immune therapies for multiple sclerosis.

“As a researcher who has focused on cellular mechanisms underlying many neurologic disorders, I am very impressed with NKGen’s novel approach of using one’s own enhanced and activated natural killer cells to address multiple aspects of neurodegenerative disease beyond protein removal.” said Dr. Blackstone.

Dr. Guo commented, “I had an opportunity to independently evaluate a few patients with neurodegenerative diseases who received NK cells generated from NKGen for compassionate-use. I was quite surprised to observe clinical improvement related to these patients. I am very excited to provide my insights and expertise towards furthering their efforts through the clinic.”

“Given my longstanding research on the interaction between the central nervous system (CNS) and the cellular immune system, I believe that the role of NK cells has been greatly underappreciated up to now,” said Dr. Reder. “NKGen’s NK cell product appears to have some strong Treg-like characteristics which could potentially affect some of the autoimmune aspects of neuroinflammation and perhaps promote tissue repair.”

About NKGen Biotech
NKGen Biotech, Inc. is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic, and CAR-NK Natural Killer (NK) cell therapeutics. Leveraging our proprietary cell expansion and activation technology and cutting-edge cell manufacturing expertise, we have the ability to infinitely expand natural killer cells while significantly enhancing cytotoxicity across our peripheral blood-derived products. NKGen Biotech’s lead product candidate, SNK01, is currently in clinical trials for the treatment of advanced refractory solid tumors both as a monotherapy and in combination with other agents, including checkpoint inhibitors and cell engagers. SNK02, our allogeneic NK cell therapy, has received USFDA IND clearance for initiating clinical trials in solid tumors. NKGen Biotech is committed to the vision of executing on our clinical strategies with the goal of commercializing our NK cell therapies to help save and sustain patients’ lives worldwide. The company and its commercially licensed cGMP facility are headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

Contacts:
Denise Chua, MBA, CLS, MT (ASCP)
Vice President, Investor Relations and Corporate Communications
949-396-6830
dchua@nkgenbiotech.com

NKGen Biotech Announces Appointment of Chief Financial Officer

February 24, 2023

SANTA ANA, Calif., February 24, 2023 — NKGen Biotech, a biotechnology company harnessing the power of the body’s immune system through the development of natural killer cell therapies, announces the appointment of Benson Fong as Chief Financial Officer. Mr. Fong is a highly accomplished CFO who brings an extensive background of financial experience to NKGen Biotech in areas of corporate finance, collaborations, and licensing. Mr. Fong’s demonstrated expertise will be instrumental in directing the Company’s financial strategies and identifying and guiding financing efforts.

Mr. Fong brings more than three decades of senior financial leadership and corporate development experience. Mr. Fong is the Managing Director of Nehalem Advisory, LLC guiding several life science startups with their financial strategy and implementation. He also collaborates with Potrero Hill Advisors. Before joining Nehalem Advisory, he was consulting CFO and Account Director at Engine Room and CFO at Early Growth Financial Services. Previously, he served as President and CEO of Lapis Therapeutics as well as Senior VP Corporate Development at CoTherix where he was responsible for in-licensing Ventavis® (iloprost) which was later FDA approved and successfully launched.

Prior experience included serving as the first VP for venture debt lending at Imperial Bank/Comerica, CFO at Cibus Pharmaceutical, Controller at Matrix Pharmaceuticals, and Division Controller in Express Banking at Wells Fargo Bank. Mr. Fong started his career as a senior tax accountant and CPA at Arthur Young & Co. Mr. Fong has a successful track record in negotiation including licensing agreements, R&D sponsored research, manufacturing and lease agreements. His leadership responsibilities have included filing S-1s, equity and debt financing, and product licensing. Mr. Fong received a B.S. in Biology from the University of Oregon.

About NKGen Biotech

NKGen Biotech, Inc. is a clinical-stage biotechnology company focused on the development and commercialization of innovative autologous, allogeneic, and CAR-NK Natural Killer (NK) cell therapeutics. Leveraging our proprietary cell expansion and activation technology and cutting-edge cell manufacturing expertise, we have the ability to infinitely expand natural killer cells while significantly enhancing cytotoxicity across our peripheral blood-derived products. NKGen Biotech’s lead product candidate, SNK01, is currently in clinical trials for the treatment of advanced refractory solid tumors both as a monotherapy and in combination with other agents, including checkpoint inhibitors and cell engagers. SNK02, our allogeneic NK cell therapy, has received USFDA IND clearance for initiating clinical trials in solid tumors. NKGen Biotech is committed to the vision of executing on our clinical strategies with the goal of commercializing our NK cell therapies to help save and sustain patients’ lives worldwide. The company and its commercially licensed cGMP facility are headquartered in Santa Ana, California, USA. For more information, please visit www.nkgenbiotech.com.

Contacts:

Denise Chua, MBA, CLS, MT (ASCP)
Vice President, Investor Relations and Corporate Communications
949-396-6830
dchua@nkgenbiotech.com