NEW YORK, Nov. 27, 2018 /PRNewswire/ -- Spherix
Incorporated (Nasdaq: SPEX) today announced the funding of a study
for KPC34, for pancreatic cancer, specifically pancreatic ductal
adenocarcinoma (PDA). PDA is considered the deadliest of
major cancers and patients are in desperate need of improved
therapies. Other than lung cancer, PDA is projected to kill more
people than any other malignancy by the year 2030.
PDA is caused by chronic inflammatory stress associated with the
increasingly common afflictions of obesity, type 2 diabetes, and
pancreatitis, exacerbated by smoking and drinking. KPC34 is a
candidate therapeutic because it is activated preferentially inside
tumor cells to release an inhibitor of DNA replication and a
separate tumor promotion inhibitor.
Annually, more than 350,000 new cases of pancreatic cancer are
diagnosed across the world. According to the American Society
of Clinical Oncology, a six-month course of gemcitabine, the
chemotherapy drug typically used to treat advanced pancreatic
cancer, costs about $23,500. Adding
the drug erlotinib, which might increase survival time slightly,
adds more than $16,500, for a total
of more than $40,000. A study
published in the journal Cancer found that stereotactic body
radiotherapy, used in addition to chemotherapy, added an additional
$13,700 to the total treatment
cost.
Developed at Wake Forest School of Medicine, and licensed by CBM
BioPharma, Inc. ("CBM"), KPC34 is a next generation treatment for
acute myeloid leukemia (AML) and acute lymphoblastic leukemia (ALL)
and is designed to overcome multiple resistance challenges observed
with the current standard of care. For more information, please
visit: www.cbmbiopharmainc.com
This new study will establish whether KPC34, alone or in
combination with synergistic, standard care compounds, is a
feasible therapeutic option to prevent the onset and/or progression
of PDA. The goal is to advance the potential applicability of the
drug for the treatment of pancreatic cancer.
Mr. Anthony Hayes, CEO of Spherix
commented, "Spherix is continuing its commitment to our merger with
CBM and the advancement of these potential lifesaving drugs.
The prior data demonstrating that KPC34 inhibited ALL and AML in
xenograft models is highly encouraging. This new study aims
to determine if those positive results can be extended to PDA.
If successful, we anticipate that this strategy will lead to
the development of KPC34 for clinical trials in humans within the
next year. Management is excited to fund this study and we
are enthusiastic about its potential. We look forward to
building synergies between KPC34 and the other pancreatic cancer
drug licensed by CBM. My commitment and confidence in Spherix has
never been stronger. Our minority ownership in the electronic
scooter and bike sharing business, plus our merger with CBM and
other biopharma projects, provides a diversified opportunity for
growth and real advancement towards a robust company."
About Spherix
Spherix is committed to advancing innovation and technology by
active participation in all areas of the patent market. Spherix
draws on portfolios of pioneering technology patents to partner
with and support product innovation. In addition to patent
monetization efforts, Spherix has been transitioning to focus our
efforts as a technology development company. These efforts
have focused on biotechnology research and blockchain technology
research. The Company's biotechnology research development
includes investments in Hoth Therapeutics Inc. and the proposed
merger with CBM Biopharma, Inc. ("CBM"). In the field of
blockchain research, Spherix has invested in DatChat and The Bit
Daily. DatChat is a privately held personal privacy platform,
focused on Encrypted Communication, Internet Security and Digital
Rights Management. The Bit Daily
(https://www.thedailybit.news/) is a daily newsletter that
summarizes the current blockchain and cryptocurrency news.
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:
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