CAMBRIDGE, Mass.--(BUSINESS WIRE)--Magenta Therapeutics (NASDAQ: MGTA), a clinical-stage biotechnology company developing novel medicines to bring the curative power of stem cell transplant to more patients, today provided a portfolio update, highlighting progress and recent updates across its most advanced programs.

Magenta has multiple high-priority medicines in our portfolio, including the mobilization and targeted conditioning programs, which have the potential to benefit many patients with genetic diseases, blood cancers and autoimmune diseases. We believe that these new medicines will provide patients with life-saving treatments and we are focusing our resources to move these programs forward as efficiently as possible, said Jason Gardner, D.Phil., President and Chief Executive Officer, Magenta Therapeutics. We have made the strategic decision based on patient benefit, emerging new results, collaborations and regulatory input to prioritize these programs as they advance through clinical development. As part of this strategic decision, we will discontinue enrollment in the Phase 2 study of MGTA-456 cell therapy in patients with inherited metabolic disorders. We thank the brave patients and their families who participated in the trial, as well as the dedicated investigators and team members at the clinical trial sites.

Portfolio Updates

Magenta will participate in a fireside chat at the 41st annual Goldman Sachs Healthcare Conference today at 8:50 a.m. ET. A live webcast of the fireside chat can be accessed on the Magenta Therapeutics website at https://investor.magentatx.com/events-and-presentations. The webcast replay will be available for 90 days following the event.

About Magenta TherapeuticsHeadquartered in Cambridge, Mass., Magenta Therapeutics is a clinical-stage biotechnology company developing novel medicines for patients with autoimmune diseases, blood cancers and genetic diseases. By creating a platform focused on critical areas of unmet need, Magenta Therapeutics is pioneering an integrated approach to allow more patients to receive one-time, curative therapies by making the process more effective, safer and easier.

Forward-Looking StatementThis press release may contain forward-looking statements, including express or implied statements regarding Magentas future expectations, plans and prospects, including, without limitation, statements regarding expectations and plans for presenting pre-clinical and clinical data, the anticipated timing of our clinical trials and regulatory filings, the development of our product candidates and advancement of our preclinical programs, as well as other statements containing the words anticipate, believe, continue, could, estimate, expect, intend, may, might, plan, potential, project, should, target, will or would and similar expressions that constitute forward-looking statements under the Private Securities Litigation Reform Act of 1995. The express or implied forward-looking statements included in this press release are only predictions and are subject to a number of risks, uncertainties and assumptions, including, without limitation: uncertainties inherent in preclinical and clinical studies and in the availability and timing of data from ongoing preclinical and clinical studies; whether interim results from a clinical trial will be predictive of the final results of the trial; whether results from preclinical studies or earlier clinical studies will be predictive of the results of future trials; the expected timing of submissions for regulatory approval or review by governmental authorities, including review under accelerated approval processes; orphan drug designation eligibility; regulatory approvals to conduct trials or to market products; whether Magenta's cash resources will be sufficient to fund Magenta's foreseeable and unforeseeable operating expenses and capital expenditure requirements; risks, uncertainties and assumptions regarding the impact of the COVID-19 pandemic on Magentas business, operations, strategy, goals and anticipated timelines; the timing, progress and success of the Magentas collaborations with NMDP/Be the Match and AVROBIO; and other risks concerning Magenta's programs and operations are described in additional detail in its Annual Report on Form 10-K filed on March 3, 2020, as updated by its most recent Quarterly Report on Form 10-Q and its other filings made with the Securities and Exchange Commission from time to time. Although Magenta's forward-looking statements reflect the good faith judgment of its management, these statements are based only on facts and factors currently known by Magenta. As a result, you are cautioned not to rely on these forward-looking statements. Any forward-looking statement made in this press release speaks only as of the date on which it is made. Magenta undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future developments or otherwise.

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Magenta Therapeutics Provides Portfolio Update: Stem Cell Mobilization and Conditioning Programs Prioritized and Advancing Toward Clinical Milestones...