NEW YORK, March 6, 2020 /PRNewswire/ -- Spherix
Incorporated (Nasdaq: SPEX) today announced it has executed an
exclusive option agreement ("Option") with the University of Maryland, Baltimore (UMB) for the
technology set forth in Patent number 10,434,116 "Methods of
Treating Coronavirus Infection." The present invention
provides methods for treating a coronavirus infection.
This invention was made with government support under
Grant Number AI095569 awarded by the
National Institutes of Health. As result, the NIH has certain
rights in the invention. Under the Option, Spherix has until
the end of May of 2020 to complete its due diligence and execute a
license agreement for commercial development.
About Spherix
Spherix Incorporated, a Delaware corporation (the "Company"), was
initially formed in 1967 and is currently a biotechnology company
with a diverse portfolio of small-molecule anti-cancer
therapeutics. The Company's platform consists of patented
technology from leading universities and researchers and we are
currently in the process of developing an innovative therapeutic
drug platform through strong partnerships with world renowned
educational institutions, including The University of Texas at Austin and Wake Forest University. Our diverse pipeline of
therapeutics includes therapies for pancreatic cancer, acute
myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL). In
addition, we are constantly seeking to grow our pipe to treat unmet
medical needs in oncology
Forward-Looking Statements
Certain statements in this press release constitute
"forward-looking statements" within the meaning of the federal
securities laws. Words such as "may," "might," "will," "should,"
"believe," "expect," "anticipate," "estimate," "continue,"
"predict," "forecast," "project," "plan," "intend" or similar
expressions, or statements regarding intent, belief, or current
expectations, are forward-looking statements. While the Company
believes these forward-looking statements are reasonable, undue
reliance should not be placed on any such forward-looking
statements, which are based on information available to us on the
date of this release. These forward looking statements are based
upon current estimates and assumptions and are subject to various
risks and uncertainties, including without limitation those set
forth in the Company's filings with the SEC, not limited to Risk
Factors relating to its patent business contained therein. Thus,
actual results could be materially different. The Company expressly
disclaims any obligation to update or alter statements whether as a
result of new information, future events or otherwise, except as
required by law.
Contact:
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Investor Relations:
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