MARLBOROUGH, Mass.,
April 10, 2019 /PRNewswire/
-- Phio Pharmaceuticals Corp. (NASDAQ: PHIO), a
biotechnology company developing the next generation of
immuno-oncology therapeutics based on its proprietary
self-delivering RNAi (sd-rxRNA®) therapeutic platform,
today announced the appointment of Dr. John
A. Barrett as the Company's Chief Development Officer
effective as of April
22nd.
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"I am delighted to welcome John to Phio. John is a seasoned and
passionate leader who brings a wealth of experience developing
immuno-oncology gene and cell therapies," said Dr. Gerrit
Dispersyn, President and CEO of Phio Pharmaceuticals. "His
expertise in driving drug discovery and development in areas
similar to Phio's current R&D focus, will be invaluable as we
continue to develop our self-delivering RNAi platform into
innovative immuno-oncology therapeutics. I am thrilled to have
someone of John's caliber join our team, which is a testimony to
the value we have developed thus far, and the potential our
pipeline holds."
"Phio Pharmaceuticals' self-delivering RNAi technology is an
enticing modality for immuno-oncology therapeutics with a potential
to replace or complement certain genetic engineering approaches.
For example, the use of this technology holds promise in taking the
molecular brakes off the tumor infiltrating T-cells and releasing
their full therapeutic potential," added Dr. Barrett. "I am excited
to join Phio and welcome the opportunity to be a part of fulfilling
the Company's mission to develop truly innovative cancer
treatments."
Dr. Barrett has accumulated over 25 years of experience working
in research and development and is an expert in developing
cell-based immuno-oncology therapies - such as developing
intratumoral therapeutics that control gene expression levels to
turn cold tumors hot, as well as CAR T-cells and TCRs. Prior to
joining Phio, Dr. Barrett spent 8 years at Ziopharm Oncology, Inc.,
most recently serving as the Vice President of R&D and
Translational Medicine. He was responsible for medical and clinical
pharmacology, and all R&D activities from Discovery to Phase 2
clinical trials. Dr. Barrett holds a Ph.D. in Pharmaceutical
Sciences from St. John's University and
a Bachelor of Science in Biology from the State University of New York at Oneonta. Dr.
Barrett's extensive knowledge in preclinical and clinical
immuno-oncology research and development will be instrumental as
the Company moves toward its first clinical trial in the
immuno-oncology setting.
About Phio Pharmaceuticals Corp.
Phio Pharmaceuticals Corp. (NASDAQ: PHIO) is a
biotechnology company developing the next generation of
immuno-oncology therapeutics based on its self-delivering RNAi
(sd-rxRNA®) therapeutic platform. The Company's discovery and
research efforts are focused on developing sd-rxRNA therapeutic
compounds to be used in the context of adoptive cell transfer by
targeting checkpoints or other gene targets, or to be used in
immunotherapy following intratumoral injection. We aim to maximize
the power of our sd-rxRNA therapeutic compounds by weaponizing
therapeutic immune effector cells to attack cancer, and to make
tumors more susceptible to such attacks, and ultimately provide
patients battling cancers with a powerful new treatment option that
goes beyond current treatment modalities. For additional
information, visit the Company's
website, www.phiopharma.com.
NASDAQ Rule 5653(c)(4) Notice
As an inducement to join the Company, Dr. Barrett was granted a
Restricted Stock Unit representing the right to receive 222,991
shares of common stock (the "Inducement Award"). The
Inducement Award vests over a four-year period from the date of
grant. The Inducement Award was granted outside of the Company's
shareholder-approved equity compensation plans, but will be
governed in all respects as if granted under the Company's 2012
Long Term Incentive Plan.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of
1995. Forward-looking statements are neither historical facts nor
assurances of future performance. These statements are based only
on our current beliefs, expectations and assumptions regarding the
future of our business, future plans and strategies, projections,
anticipated events and trends, the economy and other future
conditions. Because forward-looking statements relate to the
future, they are subject to inherent uncertainties, risks and
changes in circumstances that are difficult to predict and many of
which are outside of our control. Our actual results may
differ materially from those indicated in the forward-looking
statements as a result of a number of important factors, including,
but not limited to, the safety and efficacy of our product
candidates, future success of our clinical trials and scientific
studies, expected duration of available cash runway, our ability to
enter into strategic partnerships and the future success of these
strategic partnerships, the availability of funds and resources to
pursue our research and development projects and general economic
conditions. Our Annual Report on Form 10-K and subsequent
Quarterly Reports on Form 10-Q include detailed risks under the
caption "Risk Factors" that may affect our business, results of
operations and financial condition. Readers are urged to review
these risk factors and to not act in reliance on any
forward-looking statements, as actual results may differ from those
contemplated by our forward-looking statements. Phio does not
undertake to update forward-looking statements to reflect a change
in its views, events or circumstances that occur after the date of
this release.
Contact
Phio Pharmaceuticals Corp.
ir@phiopharma.com
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SOURCE Phio Pharmaceuticals Corp.