Qualigen Therapeutics’ Partner NanoSynex to Present Technology at BioMed Israel
May 10 2022 - 9:17AM
Qualigen Therapeutics, Inc. (Nasdaq: QLGN), a diversified life
sciences company focused on developing treatments for adult and
pediatric cancers with potential for Orphan Drug Designation, while
also commercializing diagnostics, today announces that NanoSynex
Ltd, a company with whom Qualigen recently entered into definitive
agreements to acquire a majority stake, will be featured at BioMed
Israel on May 11, 2022. BioMed Israel is being held at David
InterContinental Hotel in Tel Aviv May 10-12, 2022.
Michael Poirier, Qualigen's Chairman and CEO,
commented, “The prestigious opportunity provided to NanoSynex is
based on their innovation and dedication to develop what we believe
may become an industry-changing technology. This recognition
supports Qualigen’s interest to invest in NanoSynex, and we are
looking forward to collaborating with their formidable team to help
develop and commercialize this potentially life-saving
technology.”
NanoSynex’s innovative technology is an
Antimicrobial Susceptibility Testing (AST) platform that aims to
provide clinical laboratories worldwide with a rapid, accurate and
personalized test for bacterial infections, with the goal of
quickly matching the correct antibiotics to treat a patient’s
particular infection. Antibiotic misuse and overuse have given rise
to antibiotic resistant bacteria, commonly known as superbugs,
which the World Health Organization has called one of the top ten
global public health threats facing humanity. NanoSynex’s
potentially game-changing AST platform aims to enable better
targeting of antibiotics to ultimately result in faster and more
efficacious treatment, hence reducing hospitals mortality and
morbidity rates.
One of the highlights of the Biomed Israel 2022
Exhibition is the Start-Up Pavilion, dedicated to providing a
highly respected platform for innovative companies to maximize
exposure and partnering opportunities. Strategically located in the
Israel Innovation Authority Pavilion, this integral space is a
focal point for visits from local and overseas delegations and
individuals, consisting of potential collaborators, partners, and
investors.
“We are honored and privileged to be featured at
Biomed Israel 2022, the foremost international life science
conference in Israel. The Start-Up Pavilion provides the greatest
opportunity to further our key partnerships, and to put a spotlight
on the critical need to dramatically accelerate and personalize the
diagnostic process through revolutionary AST," added NanoSynex
Co-Founder and Chief Executive Officer, Diane Abensur Bessin.
About Qualigen
Therapeutics, Inc.
Qualigen Therapeutics, Inc. is a diversified
life sciences company focused on developing treatments for adult
and pediatric cancer, as well as maintaining and expanding its core
FDA-cleared FastPack® System, which has been used successfully in
diagnostics for over 20 years. Our investigational QN-302 compound
is a small molecule selective transcription inhibitor with strong
binding affinity to G4s prevalent in cancer cells; such binding
could, by stabilizing the G4s against “unwinding,” help inhibit
cancer cell proliferation. Our investigational QN-247 compound
inhibits nucleolin, a key multi-functional regulatory protein that
is overexpressed in cancer cells; QN-247 may thereby be able to
inhibit the cells’ proliferation. QN-247 has shown promise in
preclinical studies for the treatment of acute myeloid leukemia
(AML). The investigational compounds within Qualigen’s RAS-F family
of RAS oncogene protein-protein interaction inhibitor small
molecules are believed to inhibit or block the binding of mutated
RAS genes’ proteins to their effector proteins, thereby leaving the
proteins from the mutated RAS unable to cause further harm. In
theory, such mechanism of action may be effective in the treatment
of about one quarter of all cancers, including certain forms of
pancreatic, colorectal, and lung cancers. In addition to its
oncology drug pipeline, Qualigen has an established diagnostics
business which manufactures and distributes proprietary and highly
accurate rapid blood testing systems to physician offices and small
hospitals for the management of prostate cancer and other diseases
and health conditions.
For more information about Qualigen Therapeutics, Inc., please
visit www.qualigeninc.com.
About NanoSynex
NanoSynex is a MedTech company that aims at
providing new solutions to improve testing quality, patient
outcomes, and reduce healthcare costs by speeding up diagnostic
processes. NanoSynex is focused on the development and
commercialization of a rapid innovative Antimicrobial
Susceptibility Test (AST). The technology is based on a purely
phenotypic approach and uses a microfluidic disposable test card
platform and method that optimizes bacterial growth. This
disruptive development was born from exciting research discoveries
at the lab of Professor Shulamit Levenberg, former Dean of the
Technion Institute of Technology – Biomedical Engineering
Faculty.
For more information about NanoSynex, please visit
www.nanosynex.com.
Forward-Looking Statements
This news release contains forward-looking
statements by Qualigen that involve risks and uncertainties and
reflect the Company's judgment as of the date of this release.
These statements include those related to the satisfaction of
closing conditions in connection with the proposed transaction with
NanoSynex and the Company's prospects and strategy for its
diagnostics business and development of its therapeutic drug
candidates. Actual events or results may differ from the Company's
expectations. For example, there can be no assurance that the
closing conditions for the NanoSynex transaction will be satisfied
or that the Company will be able to maintain its diagnostic sales
and marketing engine without interruption following the expiration
of the distribution agreement with Sekisui Diagnostics, compete
with others in this industry or expand market demand and/or market
share for its diagnostics product, nor can there be any assurance
that the Company will be able to successfully develop any drugs
(including QN-302, QN-247 and RAS-F); that preclinical development
of the Company's drugs (including QN-302, QN-247 and RAS-F, and the
deprioritized infectious-disease drug candidate QN-165) will be
completed on any projected timeline or will be successful; that any
clinical trials will be approved to begin by or will proceed as
contemplated by any projected timeline, or at all; that any future
clinical trial data will be favorable or that such trials will
confirm any improvements over other products or lack negative
impacts; that any drugs will receive required regulatory approvals
(or Fast Track designation or Orphan Drug status) or that they will
be commercially successful; that patents will issue on the
Company's owned and in-licensed patent applications; that such
patents, if any, and the Company's currently owned and in-licensed
patents would prevent competition; or that the Company will be able
to procure or earn sufficient working capital to complete the
development, testing and launch of the Company's prospective
therapeutic products (including QN-302, QN-247 and RAS-F, and
QN-165). The Company's stock price could be harmed if any of the
events or trends contemplated by the forward-looking statements
fails to occur or is delayed or if any actual future event
otherwise differs from expectations. Additional information
concerning these and other risk factors affecting the Company's
business can be found in the Company's prior filings with the
Securities and Exchange Commission, including its most recent
annual report on Form 10-K, all of which are available at
www.sec.gov.
The Company disclaims any intent or obligation
to update these forward-looking statements beyond the date of this
news release, except as required by law. This caution is made under
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995.
Contact:
Jules AbrahamJQA Partners,
Inc.917-885-7378jabraham@jqapartners.com
Source: Qualigen Therapeutics, Inc.
Qualigen Therapeutics (NASDAQ:QLGN)
Historical Stock Chart
From Mar 2024 to Apr 2024
Qualigen Therapeutics (NASDAQ:QLGN)
Historical Stock Chart
From Apr 2023 to Apr 2024