NEW YORK, Nov. 27, 2019 /PRNewswire/ -- Spherix
Incorporated (Nasdaq: SPEX) announced today that additional patent
coverage has been granted by the United States Patent &
Trademark Office to the patent portfolio being acquired by Spherix,
in the field of pancreatic cancer.
Pancreatic cancer is the fourth most common cause of
cancer-related deaths in the United
States and the eighth worldwide. The Pancreatic Cancer
Action Network Ô predicted that it will move from fourth to
the second leading cause of cancer deaths in the US by 2020.
US Patent number 10,463,684 was recently issued to the University of Texas at Austin and being assigned to
Spherix as part of the CBM BioPharma, Inc. asset acquisition
previously announced. The patent targets, among other things,
pancreatic cancer with a different mechanism than the current
standard of care. The compound has been shown to be effective
in cancer cells that are resistant to the current standard of care
in preclinical studies and expands the patent coverage for this
compound.
About Spherix
Spherix Incorporated is a technology development company
committed to the fostering of innovative ideas. Spherix
Incorporated was formed in 1967 as a scientific research
company.
Forward-Looking Statements
Certain statements made herein are not historical facts but are
forward-looking statements for purposes of the safe harbor
provisions under The Private Securities Litigation Reform Act of
1995. Forward-looking statements generally are accompanied by words
such as "may", "should", "would", "plan", "intend", "anticipate",
"believe", "estimate", "predict", "potential", "seem", "seek",
"continue", "future", "will", "expect", "outlook" or other similar
words, phrases or expressions. These forward-looking statements
include statements regarding Spherix's and CBM's industry, future
events, the proposed transaction between the parties to the Asset
Purchase Agreement, the estimated or anticipated future results and
benefits of the Company following the transaction, including the
likelihood and ability of the parties to successfully consummate
the proposed transaction, future opportunities for the combined
company, and other statements that are not historical facts. These
statements are based on the current expectations of Spherix's
management and are not predictions of actual performance. These
statements are subject to a number of risks and uncertainties
regarding the businesses of Spherix and the transaction, and actual
results may differ materially. These risks and uncertainties
include, but are not limited to, changes in the business
environment in which Spherix or CBM operates, including inflation
and interest rates, and general financial, economic, regulatory and
political conditions affecting the industry in which Spherix or CBM
operates; changes in taxes, governmental laws, and regulations;
competitive product and pricing activity; difficulties of managing
growth profitably; the inability of the parties to successfully or
timely consummate the proposed transaction, including the risk that
any required regulatory approvals are not obtained, are delayed or
are subject to unanticipated conditions that could adversely affect
the combined company or the expected benefits of the transaction;
failure to realize the anticipated benefits of the transaction,
including as a result of a delay in consummating the transaction or
a delay or difficulty in integrating the assets of CBM; uncertainty
as to the long-term value of Spherix's common stock; those
discussed in the Spherix's Annual Reports on Form 10-K and
Quarterly Reports on Form 10-Q and other documents of Spherix on
file with the SEC or in the registration statement that will be
filed with the SEC by Spherix. There may be additional risks that
Spherix presently does not know or that Spherix currently believes
are immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. In
addition, forward-looking statements provide Spherix's
expectations, plans or forecasts of future events and views as of
the date of this communication. Spherix anticipates that subsequent
events and developments will cause Spherix's assessments to change.
However, while Spherix may elect to update these forward- looking
statements at some point in the future, Spherix specifically
disclaims any obligation to do so. These forward-looking statements
should not be relied upon as representing Spherix's assessments as
of any date subsequent to the date of this communication.
Contact:
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Investor
Relations:
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Hayden IR
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Brett Maas, Managing
Partner
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Phone: (646)
536-7331
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Email:
brett@haydenir.com
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www.haydenir.com
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Spherix:
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Phone:
212-745-1373
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Email:
investorrelations@spherix.com
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www.spherix.com
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SOURCE Spherix Incorporated